Keep refining it and add to it.If you have your trading plan in your computer, open it before the trading session each day. Alpha – Sit on your hands for the first 15 minutes of the trading sessionThe first 15 minutes are usually very volatile, without much price action available for analysis. Each trade contributes to a feedback cycle that can improve our trading performance.Each trading session starts with doing nothing and ends with reviewing everything.
Waiting for the bull run of the century is not for day traders.Use a trading platform that allows you to enter stop-loss orders and target limit orders together with your trade entry. Taking the best trades is so important that we devoted an article on it.Day Trading Rules That Will Save You9. When in doubt, lower your trade sizeLower your trade size when you are in doubt of your trading edge. Accept losing days when day tradingSomehow, day traders expect to end each day with profits. If you refuse to accept losing days, you will do stupid things like overtrading and ruin your trading account pretty soon.The last three rules are lifesavers.
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