If you are a newcomer to the world of stock trading, you already know that trading stocks is neither a simple undertaking nor for the faint of heart. Indeed, it is very challenging, potentially eating up a lot of your time, patience, skills - and money. In fact, it could even be far too taxing if you have no experience.

Below are a few core tips that can help improve your chances of success while trading in the stock market:

Trade Only With Money You Can To Lose Without Crying

All stock trading is something of a gamble, so you should always invest only money you can live comfortably without. That is, it's imperative you not risk money you need to survive day-to-day or that you need to secure your future. Trading markets simply tend to be too unpredictable to assume your success in it.

Always Trade In Personally Realistic Funds

While it is possible to trade in very large amounts of leverage, it is not necessary to do so - particularly at first. While you can theoretically end up with larger profit margins when trading in this manner, the alternative is that you might also lose money in larger quantities as well.

So scale your trades to mitigate your potential losses. Never (ever) trade sums that have the potential to wipe out a large portion - or even all - of your money. Start out small and gain experience.

Identify Market States Before Trading

Take time to do some research to gain an understanding of how the market is performing before you begin trading. Monitor trends over a period of weeks and months, as this knowledge can help to preserve your investments once the cash is out of your hands.

If you have a decent overall grasp of the market, THEN devise a plan of action for successful trading. This will make the likelihood of financial success greater for you in the long run.

Set a Time Frame for Trading

Even if you are only in this effort to make a lot of cash, good planning as to when you will sell and get yourself out of the game completely is a great way to prevent the prospect of significant losses.

Because the market is always moving and changing, processes are always evolving - meaning that your exit selling price may be evolving as well. Of course, you can't unfailingly determine when to pull out of the market, but you can get a good idea.

Anyone who tells you (or implies) that stock trading is easy or a sure thing is simply not being straight with you and probably attempting to sell you something for their own benefit, not yours.

The very nature of the stock market is one of volatility and movements, so to be successful in navigating these murky waters, you must be aware of trends and focus on a personal strategy.