Day trading has basic 10 rules to follow for trading in a profitable way.
- Always Use a Trading Plan
- Treat Trading Like a Business
- Use Technology to Your Advantage
- Protect Your Trading Capital
- Become a Student of the Markets
- Risk Only What You Can Afford to Lose
- Develop a Trading Methodology Based on Facts
- Always Use a Stop Loss
- Know When to Stop Trading
- Keep Trading in Perspective
Other than the above, some of the important tips for day trading are
- Frame a limit on your investments
- Save on Brokerage
- Returns vs. Risk
- Maintain strict stop losses
- Limit trades
- Go with the trend
- Patience
- Book profits swiftly
- Do not hesitate
- Validate facts
