| While increasing your chances for profit, these top 10 | | | | following yours faithfully is likely to give you better |
| trading rules for day traders are among the best | | | | results than just going with your gut. |
| ways. | | | | Get out of any trade you don't feel good about. |
| Prepare early. | | | | One of the top ways day traders lose money is by |
| Don't jump into your trading day unprepared. Every | | | | hanging on to a losing stock hoping their luck will turn |
| day, give yourself at least half an hour to list some | | | | around if they just wait a few more minutes. To |
| stocks you chose based on research from the | | | | avoid this, before you enter a trade, simply put dollar |
| evening before. Then look at how these were traded | | | | value limit on the loss you're willing to take. |
| the day before and decide if you want to go through | | | | Check your mood. |
| with your chosen trades. | | | | A few hours into your trading day, check how you're |
| Pick trading times wisely. | | | | feeling. If you've made a few mistakes and you're |
| Setting a trading schedule you're comfortable with is | | | | starting to get frustrated or anxious, call it a day. If |
| important, but you still need to base it on market | | | | every thing's going well, feel free to keep on trading. |
| realities. Statistics show most traders are more | | | | Beware of greed. |
| successful in the mornings and later afternoons. Avoid | | | | You may not think of yourself as a greedy person, |
| trading in the last hour of the day, though. The | | | | but the prospect of earning hundreds or even |
| markets tend to get a little out of control at the end | | | | thousands in a short period can make anyone a little |
| of the day and the chances of a successful trade go | | | | money-hungry. Don't let your desire for a quick profit |
| down. | | | | overwhelm your common sense. |
| Set a number of trades. | | | | Commit to learning. |
| Over-trading is an excellent way to increase your risk | | | | Unless playing with money is your hobby, you're |
| of loss. What's more, it takes up your time and | | | | involved with day trading for profits. Reaching the |
| increases your stress level. Instead, set a maximum | | | | level of professionalism that it takes to make solid |
| of between 10 to 15 trades per day and stick to | | | | profits consistently takes several years of continuous |
| your limit. | | | | learning. |
| Manage your risk. | | | | Don't go it alone. |
| Done right, day trading can be downright boring. You | | | | Along with educating yourself on the fundamentals of |
| should limit your risk well enough that you're not | | | | day trading, keep up with what successful traders |
| constantly on the edge of your seat. That means | | | | are doing right now. Investigate their trading |
| setting your entry points and exit points before you | | | | philosophies and strategies and see how you can |
| make a trade and always having reasonable stop-loss | | | | apply them to your own trades. |
| and take-profit orders in place. | | | | Following these top 10 trading rules for day trading |
| Trust your indicators. | | | | isn't going to help you get rich quick, but it could go a |
| You watch the indicators for a reason. They're there | | | | long way towards keeping your investment capital |
| to direct you based on thorough, emotion-free data | | | | safe and developing your ability to make profitable |
| analysis. No trading system is right all the time, but | | | | trades day after day. |