Hello, I started day-trading stocks 8 months ago with $7,000 and absolutely zero experience. I made some money by chance I call it and lost them a few days later..made, lost, made, lost...you know the end. I went down to $500 recently and eventually declared myself totally "bankrupt", suspended my trading platform, and I am currently taking some time off. Meanwhile, I have no other source of income and was forced to ask my father to bail me out. Long story short, I learned alot from my mistakes and the most valuable lesson I learned the hard way of course was: Get out of a losing trade before it's too late. I have come up with a set of trading rules for myself, which I didn't have before and am trying to apply them when I get back to trading again in the near future. Here are my "5 simple rules": 1- Do NOT rush, wait for a 100% certain opportunity to get in! 2- Do get out of a losing trade before itâs too late (max 2% loss)! 3- Do not switch between going short ↓↑ long frequently and confusedly! 4- Do not hold positions overnight in the hope of tomorrow! 5- Do not trade during pre-market & after hours! From your personal experience, tell me please what you think of these and what I am missing or need to add as far as the rules are concerned. Thanks.