1. Go only for stocks that trade in good volumes and most preferrably stocks of the NIFTY50.
2. Follow stop losses, in the current scenario, 6-8 months isn't a good enough period due to Europe woes which make the next year also rough as per the current view.
3. Don't put your eggs in one basket. Go for 3 stocks of different sectors, as per the current market conditions, I would also suggest a defensive stock such as ITC to hedge your portfolio.
4. Put in an amount that wouldn't even pinch you if lost as you are new to the markets.
5. Follow your instincts and not someone's claim of: PAKKI KHABAR HAI.
6. Stay AWAY FROM DERIVATIVES as you are totally new.
7. The best quote of Dalal Street as well as of my idol Rakesh Jhunjhunwala : BHAAV BHAGWAAN CHE. It means that the markets are always right. Noone is bigger than the markets.
8. Finally, Investing is not luck, going to the casino is. And also, make sure that your investments don't take away your "CHAIN KI NEEND" :)
And yeah, markets are always volatile. Don't get scared when experts say "Markets are too volatile"
Have great investing time!!