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

never ever use margin to trade as a beginner. meaning if you have $100k, don't use more than $100k to hold it overnight for a stonk position. use only that $100k to trade so you don't have to wait for 2 days cash settlement.
 
Missing the most important "tips":

1. Is day trading the right strategy for me?

2. If day trading is right for me, can I automate my strategy including position management?

3. Do I realistically and honestly have enough capital to day trade?

4. Do I have a legitimate edge?

5. Am I prepared to face the reality of slippage in my strategy in live markets as compared to SIM trading or back testing?

I wish everyone good fortune !

easymon1 said:
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?
More...
 
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