abstrak:Every day trader loses, so don't beat yourself up if the odd trade doesn't go your way. Plan your transactions, then execute them. Never bet too much money on a single trade; don't let your position size surpass your overall budget. Do not second-guess yourself; learn from your mistakes.
Day trade only with money you can afford to lose.
Successful traders have a “little bucket” of risk capital and a “large bucket” of money saved for retirement or another long-term aim. Large sums of money are typically invested more conservatively and over a longer period of time. It's not illegal to utilize this money for a day trade on occasion, but the chances should be stacked in your favor.
Please be patient.
Contrary to popular belief, successful day traders do not always trade every day. They may be in the market, sitting at their computer, but if they don't find any possibilities that suit their criteria, they will not trade that day. That's a lot better than going against your best judgment in order to “just do something.” Plan your transactions, then execute them.
Maintain self-control.
Again, you must devise and adhere to a trading strategy. Impulsive behavior can be your worst adversary when trading on your own. Greed might keep you involved in trades that do not appear to be profitable enough. Don't expect to become wealthy from a single trade.
Don't be scared to press the button.
Novice day traders frequently suffer from “paralysis by analysis” because they become engrossed in watching the candles on their screens and are unable to act fast when an opportunity presents itself. If you follow your plan and are disciplined, placing the order should be automatic.
Never bet too much money on a single trade.
Set a proportion of your overall day trading budget (which might range from 2% to 10%, depending on how much money you have) and don't let your position size surpass it. Otherwise, you risk missing out on an even bigger market opportunity.
Do not second-guess yourself, but do learn from your mistakes.
Every day trader loses, so don't beat yourself up if the odd trade doesn't go your way. However, validate that you followed your rules-based plan and did not enter or exit at an inconvenient time.