At Stock Legends we want our followers to be as profitable as possible so we took the time to put together some basic day trading rules for you to follow.
Mastering your emotions is likely the single most important concept that you will need to develop to be a successful day trader. Make sure you are familiar with both, the more tools and knowledge a trader has in their arsenal the more successful they will be when it comes to live trading. Patience, one of the most important day trading rules and can be broken down into 2 scenarios.
Successful stock trading requires almost the same traits as most other creative and competitive endeavors. Day trading stock picks almost guaranteed to move big each day during the week of August 10. Moves 5%+ most days for the last six weeks, on usually about two to three million shares per day. See the video: How to Find Volatile Stocks for Day Trading (in 20 minutes a week) for the method used to find these stocks. Day trading stock picks almost guaranteed to move big each day during the week of September 7.
I don’t normally publish ETFs on this list, but the S&P 500 VIX Short-Term Futures ETN (VXX) is one of the day trading vessels around when there’s volatility in the major indexes. The stock moved more than 10% per day in August, with a quite a few days moving 20% or more.
A lot of days with 5%+ intraday moves, and pushing through 10 million shares+ most days in August.
5 to 10 million shares per day and volatility typically between 4% and 8% over the last 10 weeks.
Here are the Day Trading Stock Picks for the Week of June 15 (this list will typically be published before the Tuesday open, and is valid till the following Tuesday). After a bit of a lower volatility phase, this stock looks to be producing more 5%+ movement days.
Slowed down recently, but still moving more than 5% most days this month. Watching for an increase in volatility if this consolidation phase ends.
Day trading stock picks almost guaranteed to move big each day during the week of September 21. Day trading stock picks almost guaranteed to move big each day during the week of September 14.


Also, constantly planning and keeping my mind on trading really helps me focus in and not worry about other things or get distracted. We hope that you will use these day trading rules to assist you in your trading to become more profitable trader. Humans drive markets, and when people rely on their emotions to make trading decisions they usually end up in A disaster situation.
There is a lot of truth to this statement, and all too often we allow emotions to make our decisions for us and we drop the basic day trading rules. Even though these days the day trading rules mostly apply to the technical side of trading, there are many situations where a lack in fundamental knowledge can cost you significantly.
If you can find a common ground between both of these forms of analysis you will be a more well rounded day trader. Buying on dips can be a great strategy but we also don't want to end up catching a falling knife meaning a dropping stock, this is one of the day trading rules to always keep in our mind. The day you stop learning from you mistakes is the day you will diminish your profits and ultimate goals.
Stock trading is not about having a high IQ, an MBA, numerical or software skills, macroeconomics knowledge, or some magic technical indicators. Don’t risk more than 1% of your trading account on a trade (risk = difference between entry price and stop loss price, multiplied by number of shares).
I manually filter them, making sure they do typically move 4%+ (preferably 5%+) most days, and that they trade more than 2 million shares most days (a random spike could push the average above 2 million but most days could be much lower).
If we operate on that basis of allowing our emotions to rule our trading decisions and ignore the basic day trading rules, we will usually end up out with loosing trades most of the time. The problem with trading them, is that they are typically noticed by most people when the top is in. For some guidance on day trading the stock picks discussed below, see How to Day Trade Stock in 2 Hours or Less.
For some guidance on day trading the stock picks discussed below, see the Day Trade Trending Strategy and Truncated Price Swing Strategy. For some guidance on day trading the stock picks discussed below, see How to Day Trade Stock in 2 Hours or Less (Extensive Guide). For some guidance on trading the day trading stocks picks discussed below, see the Daily Range Day Trading Strategy, the Truncated Price Swing Strategy and How to Spot Trading Opportunities. It isn’t the same as live trading, but it will at least help you see if your method is theoretically profitable in these stocks and give you some confidence back.


The key to being successful at mastering your emotions is to develop and write down a trading system that works for you, meaning your own personal strategy, and most important, to follow your system guidelines and these trading rules. I personally am not interested in holding a stock trading sideways, one of the best day trading rules is that quick consistent ins and outs ensure a green portfolio. Volatility in June and July was around 3 to 4% and volume was about 10 million shares per day — still pretty good. It is always better to put in a stop loss and break even then to hold and end up red, day trading rules to live by. If you are questioning your position, you need to go back over the basic day trading rules. One of the best day trading rules to be taught is to continue to grow without being taken out of the game and losing your trading account. You can also try out some other types of trading while in the demo account–slower moving ones for example, and see if that suits you better. A professional day trader will always buy his shares on the bid and sell them on the ask with smaller more consistent profits. Depending on the exchange you are trading on, you may not be allowed to set a stop-loss or trailing-stop order but that does not mean that you shouldn't follow the day trading rules. These day trading rules are simply guidelines to assist you in minimizing the costs of your mistakes and to help you ultimately avoid the detrimental ones. I have seen more people ignore the day trading rules and cheer their way to a slow death more times than I would like to count. This is one of the major day trading rules and will be a samurai death in your trading career if you can't shake the buzz and walk away.
These day trading rules need to be your bible, read them daily, make them part of your trading personality. The first rule to day trading stocks is not to lose, a well timed entry will put you in an immediate green position. Until you understand the psychology and these trading rules this can be a very confusing time.



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