Traditions are simply things which have happened more than once.
If something occurs often enough, it becomes traditional. Traditions are practised although sadly some are only remembered.
Beliefs are passed down from generation to generation and form part of a tradition. Customs likewise are passed down.
Typically a tradition involves an activity and often a time and place and involves both old and young members of the community so that the tradition is passed on.
A living tradition can either mean one which had had no break (not a revival) or one which continues to evolve.
Traditions need not be ancient. Modern traditions are just as common as old traditions.
Traditions sometimes have attached meaning. Something will happen if the tradition does not take place or if some part of the tradition is altered.