1. Track Everything
although you have to work fast when you are using day trading methods it is worth making the effort to write everything down. Again this is a habit you can train yourself into while in demo. You’ll be dazzled how much it helps you to grasp why things went wrong or right when they actually did. This can enable to to tweak a marginal system into a moneymaking one and make all the difference to your bottom line. A straightforward spreadsheet recording your position, the signal(s) and the opening and closing costs is enough during trading. Afterward you may need to add a comment.
2. If In Doubt, Keep Out
This is a well known trading and investment rule. Do not gamble on something that nearly fits your system but not actually. It may work once but over the long run this will lead to disaster. There’s probably a reason why the system is set up for the signals that it has and if the market doesn’t fit, do not force it.
equally if you’re sick or under pressure about another area of your life, it can be better to stay away from the market, especially while you are still a relative beginner. There will be other and better occasions to learn day trading when you’re feeling in peak condition.
