I saw a similar thread on another forum and thought I'd try to get one started here, it could be very valuable for newbies if it gets any traction.

I've been trading for almost a year now but still consider myself a newbie with a LOT more to learn. My record for picking stocks isnt too bad for a newbie (about 50/50 winner vs losers) but my main problem is managing the trade once I'm in, specificly letting my losers run too long and ignoring my stop losses. I would be doing quite nicely if I could bring myself to cut them loose once it becomes apparent that they are not going to recover anytime soon. I think that lesson has been learned now, and hopefully it's all up from here.

Anyway, if anyone else would like to post their hard earned lessons learned, it would be very useful.