I could swear I typed that...well, until the last one--I tend to look for multi-day positions.· Don’t pay anyone for newsletter, classes, chat rooms, BS, etc.
· Managing risk is your main and only priority. The profits will come, but not if you have no money left.
· Develop a watch list of stocks that tend to move. This is dynamic and you need to do your homework. Example: BLUE, CLVS, TWLO, X, AMD…
· Learn the behavior of the stocks at the open. This is usually your best chance to capture a move.
· Be quick, decisive, and fearless. Don’t get greedy. You said $200 stick to that per trade. If it shoots up and you’re up $700 take it gracefully.
· The exit is just as important as the entry. Don’t let the winner turn to a loser.
I keep a "50-List" which is 48-55 symbols I watch and know closely, and another "100-list" which is 50 more for weeks when I don't spot a good opportunity. The full Dow is on those lists, and all are S&P 500 components. That said, I tend to be particularly active on only about 20 of them.