1. Do not expect to become an expert right away

2. Use simulated trading system to train your skill

3. Eliminate the fear of losing

4. Limit your losses

5. Learn from your losses

6. Never allow large profits to turn into losses

7. Get out if market is not going as your expectation

8. Never add to a losing position

9. Try predict the trend of market

10. Know how to “standing aside” if you can’t form an opinion as to where the market is heading

11. Exercise discipline to avoid mistakes or bad trading tactics

12. Subordinate your will to the will of the market

13. Always record and analyze your trading results

14. Sell in good news but buy in bad news

15. Patience, perseverance, determination and rational trading plan are the key to success

16. Never get emotionally involved with your trades

17. Do not try to profit on every trade

18. Learn when you can reply on instinct

19. Don’t chase momentum if you are unsure to the exit point

20. Be flexible with different strategies on different stocks in different condition

21. Decide your how much risk you can take of the day

22. Access timely information

23. Do not focus on too many stocks

24. Always think positive

25. If you do not enjoy and feel day trading is stressful, please try other activity.

Extract from About.com

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