One of the thing that newbie should also pay attention to daily is the news release on economic and financial news of major currencies being traded. This will impact your trades daily. So, if you get in during market spike, you could gain or lose significantly. If you know when such news are released like nfp then you will either scalp the news trade or avoid entering the market as you are trying for long term trading. Recently, the shut down of US capital hill affects the usd, making it weaker against the euro. Or the Syria war crisis also caused some affects on Eastern currency, so news do affect the fundamental behind price movement. You should keep up with news daily.