25 Rules for Day Trading Beginner
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
