What are 5 good rules for day trading?

I am simply asking for an informative list.

Public Comments

1. These are rules I use daily, more often to advantage than not:

1. When in doubt while considering a particular stock pick--- DON'T!

2. Past performance, even day-to-day trending---means nothing on this day because there's no future in the past.

3. Ask yourself this before placing your order: What makes this particular choice of pick better than the others?

4. Am I looking at my picks list rationally WITHOUT counting my chickens before eggs hatch?

5. If I were to see a particular investment wiped out, would I be comfortable (and able!) to continue on my journey tomorrow? Am I sufficiently spread out or over-concentrated?

6. Can I turn away from the usual naysayers who insist I'm too stupid to know better than to invest in penny stocks while day trading? When I listen to them and find myself aggravated, is it because part of me might be agreeing with them?

7. Am I up to speed on my short list of top tier picks? Have I become acquainted with their balance sheets so that I can ride the tide without undue fear?

8. Make sure the trend is acting in a friendly manner BUT BE READY TO BAIL when your gain produces a smile. Holding on too long kills most profit-makers.

There's a few of my rules. Now, let's all make money!

Len

2. Good day Famous...

These are some of the rules I ues on a daily basis....

1) Pick a positon that you can afford to buy in quantity.

2) Never buy in the first hour of trading....this is JMHO....bit it seems to work for me....

3) Pre-determine what % of profit you want to take on this position

4) Always trade stocks that have at least a daily volume of 1 million shares traded.....this allowd for an easy exit when it is time to take profits.

5) Always take your profits even if it means you are riding free shares at end of day......

These work for me and I really hope that you can use them to make some money.....

GLTY