1) You should have a winning methodology when trading. If you don’t have a reliable method for having consistent profits from day trading, using the remaining nine rules will be of no use.

2) You should always protect your capital. Everyone knows that your capital is everything. In simple terms “No Capital, No Trading” that’s how plain and simple it is.

3) You should always employ a hard stop. Having to enter in a hard stop on your every trade will help you set a limit as to the amount of money that you can lose in a trade.

4) You should never turn a winner into a loser. Don’t let a winning trade turn into a loser.  You should be willing to bank on some profits when you can get them.

5) Losers average Losers. You should never add to a losing position under any circumstances, this is because markets may remain illogical far longer than you can remain solvent.

6) Trade for the extremely consistent gains. By developing your mindset to have a steady banking and also a consistent profits rather than having a few home-run trades.

7) You should take the best setups from some different stocks. You should only choose the best trade setups that you can from your analysis.  Be willing to do both financial and technical analysis in determining which stocks you are going to invest in.

You don’t need to bet the farm in any particular trade. To have a successful trading, you do not need to swing for the fence.  Do not invest more than five percent of your portfolio in any particular trade.

9) You should have the discipline to stick with your method through the drawdown.  Remember stocks go up and down.  Becoming too greedy may not bode well for your profitable trades.

10) Your Day trading plan should be designed to fit your personality. This means that you should continually refine your methodology.