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The following is a list of rules that every trader must obey and respect:
  1. Never trade what you can't afford to lose.
  2. Let your ego go!
  3. Take responsibility for your own losses.
  4. Do not chase stocks.
  5. Trade only when planned criteria is met.
  6. Always use stop-loss orders.
  7. If a Trade Goes Against You - GET OUT!
  8. Understand that Day-Trading is 'Money Management' at its very best!


Rules for enter stocks on a day-trading basis!

Please pay attention to the rules:
DO NOT TRADE during the 1st hour.
Buy(short) 15 cents above for longs (below for shorts) previous days high (low). If a stock creates a 'new' high above yesterday's high during the first hour, or shortly thereafter, wait for a pullback of atleast 75 cents. Our new entry is now 15 cents above this high.
On NASDAQ stocks, it's safe to wait for the second time the stock crosses your entry before entering.
Immediate Stop-Loss 15 cents below the low of the day or 1 point below entry, whichever is lower. The key to success is that this stop-loss does not take more than 1% of your total trading capital.
**For higher priced stocks and more VOLATILE stocks, we trade fewer shares and use a wider STOP!**
If we am Stopped Out and the stock recrosses our enty - we get back in!
If stock goes up 1 point - raise stop-loss to 'break-even'.
Follow the stock up with Trailing Stop-Loss orders 1 to 1 1/2 points below the stock.
**Once again a larger stop is used for higher priced, more volatile stocks**
Do not let a gain of 1 point or more turn into a loss.

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