22 Day Trading Tips. Which 4 or 5 are most important? What's missing?

E

easymon1

https://mytradingskills.com/day-trading-strategies

22 day trading tips. Which 4 or 5 are most important? What's missing?
1. Prepare for your trading day
2. Analyse the first trading hour
3. Check an economic calendar
4. Read relevant market news
5. Find oversold and overbought financial instruments
6. Take trades in the direction of the trend
7. Counter-trend trades can be risky
8. Have strict risk management rules in place
9. Always risk a fixed percentage of your trading account on any trade
10. Analyse the reward-to-risk ratio of potential setups
11. Follow the 6% rule
12. Use pending orders where possible
13. Keep a trading journal
14. Make regular retrospectives of your trade history
15. Wait for confirmation before entering a trade
16. Don’t let emotions interfere with your trading decisions
17. Always use stop-losses
18. Protect your profits
19. Use trailing stops where possible
20. Don’t trade during important market reports
21. Holding trades overnight can be risky
22. Create a portfolio of trades

What would you say belongs in a solid trading plan?
https://elitetrader.com/et/threads/what-would-you-say-belongs-in-a-solid-trading-plan.340340/

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Without these four, you don't have a chance to make it over the long-term:

8. Have strict risk management rules in place
15. Wait for confirmation before entering a trade
16. Don’t let emotions interfere with your trading decisions
17. Always use stop-losses
 
These rules are all very good but the fact of the matter is that what destroys new traders is leverage and not accepting a loss.
Doesn't matter what rules you have, you will go through this a few times before learning. Like quite a few times.
 
SanMiguel said:
These rules are all very good but the fact of the matter is that what destroys new traders is leverage and not accepting a loss.
Doesn't matter what rules you have, you will go through this a few times before learning. Like quite a few times.
More...
yes

over leverage under capitalization and very little market knowledge and experience.

and about 1000 other things.

what is most important : the one you do not do
 
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