Below is a list of 8 rules for you to consider:

1. Flexibility

Don’t fall in love with a stock. There are hundreds of penny stocks to trade.
2. Take care of your hard earned money
Nobody has right all the time, but might make disastrous mistakes. The rule is to minimize your losses when you are in the wrong position. Many “geniuses” has lost all their trading capital by just one mistake. Most of them have never returned after a big loss.
3. Always set stop-loss
Stop-loss is the road to victory, and will save you from defeat. It’s a security ventilation to protect your money.
4. Learn from your mistakes
You might learn more from your mistakes than from your gains. If you learn from your mistake, then it will no longer be a loss in the future.
5. Trading plan
The foundation for your profit starts before you make a buy or a sell. Spend time to find a method that suite your trading style.
6. Don’t let coincidences fool you around
The small details are often what distinguish the gains from the losses.
7. Patience
The three pillars of learning are – training, pain and hard work. There are no shortcuts in the stock market. So be prepared for several years training and hard work before you become a master.
8. Passion
Only those with passion can become a master. If you trade with strong desire to earn lots of money, you will hardly be successful. You must have an interest and passion in what you do deal with.

Day trading makes for good profits in the space of 24 hours simply because you buy low and sell high within minutes. Although the profits for each transaction may be small but when multiplied with the number of trades conducted, you can walk away from the trading floor with a minimum of $1,000 per day.

Of course, this is with the assumption that you adopt the following simple day trading tips. As the name implies, you need not worry about wracking your brains over complicated mathematical equations. Basically, all you need is the willingness to open your mind to new ways of seeing certain things, the experience to know which old approaches to keep in your investment strategies and the common sense coupled with wisdom to know the difference.



First, you should only trade in liquid stocks. This means stocks that exhibit high trading volumes and, hence, can be bought and/or sold in sufficient quantities to achieve two purposes simultaneously - make a decent profit and make little impact on the overall stocks prices.

Second, you must look for relatively stable trading volume within the day as well as average trends in the last week. This is one of the simple day trading tips that novice day traders overlook because of their intense focus on the minute-by-minute events affecting their shares.

Although you are often required to make decisions in a matter of seconds as soon as the opportunity to profit presents itself, you are well advised to look at trends. Keep in mind that stocks tend to follow certain patterns, thus, knowing their history provides for a way to predict the cycle although in a limited manner.

Third, and in relation to the second tip, you often have to move with the trend. This is common sense as it is more profitable to swim with the tide than go against it especially where day trading is concerned.

This tip can be simplified as: In a bullish market, look for stocks on the rise. In a bearish market, go for the stocks that are falling. Doing otherwise often means that you will be buying high and selling low, the complete opposite of the day trader's number one dictum for success.

Fourth and most important of all the simple day trading tips is to do your research. The stock market is influenced and influences many aspects of society from economics to politics so much so that it is confusing, bewildering and frustrating to understand all of these factors without hitting the books, so to speak.

We do not mean just reading books on stocks trading, of course. You should also look at the stock indexes, stock filters and other stock of the trade so as to get a general idea of the stocks that can spell profits in minutes.

Ultimately, it is not these simple day trading tips that can make or break your career as a day trader. It is your willingness and resourcefulness to adopt them to suit your own investment strategy that matters the most.

For all your top stock picks you will have to make use of automated software as well as your common sense, more so when you deal with penny stocks. As a trader you need to understand market patterns, technical analysis and many more to find out the market potential of any given stock in the future, that would be worth investing in. Trading in penny stocks is more of an art than science because of its high volatility and unpredictable nature that makes their prices exceedingly erratic which is beyond scientific comprehension. To help you in your effort you have to however take advantage of scientific and mathematical tools to understand current market trends and of near future for any micro stocks, based on similar historical patterns and past results.
It is important to remember that trading is not the same as investing. There is quite a lot of differences in them. It is a fact that 90% of all investing in penny stocks is actually trading, where the investor is on the look out to book profit, the moment it reaches a predestined objective. Since penny stock investments are mostly short term investments, hence it is more or less a form of trading. Whereas all those who are investors are actually interested in the nature of business of the company in whose penny stocks it invests in. They tend to look into the fundamentals of the company, its future as a business house etc.


That is why it is important to ask yourself whether you wish to be purely investor or a trader who simply looks into the trading pattern and trend within the market, without looking into the pros and cons of the business that the penny stock company is involved in. As a trader all you would want is to buy when the stocks are cheap and sell them to book profit when the prices are quite high. This is the same principle that Warren Buffet follows, both as an investor and a traders point of view and you too would do the same somewhat as a day trader for all your top stock picks.
But it is better said than done, since it is certainly not all that easy to investigate all the factors that affect technical analysis and match them with past chart patterns for a good number of hot penny stocks. Since the price of penny stocks costs few cents to $5 only, they are very cheap to buy in large volumes for prospective trading. Hence they are the most sensitive amongst all sorts of stocks traded in the market and is easily vulnerable to a slight shift in market sentiments. That is why penny stocks are most prone to swing either way, positive or negative. So at one moment you would be surprised to find the prices doubling or trebling overnight or it could simply be plunging to great depths, spinning beyond control.
That is why successful day traders are extensively using automated software for research and analysis to find what all factors have a strong influence for all those overlaps that one sees between a current stock and those in the past by a similar stock. On top of that there are excellent newsletters that draw your attention to those penny stocks considered hot and trendy. Based on the information you may carry out your own research with the help of software to find which amongst the stocks would be your choice for top penny stocks congenial for investments.
This is one great advantage that modern computer savvy day traders have over their past counterparts. Where as it is possible to make your own research it is not physically and mentally possible to wade through vast data inputs to analyse thousands of micro stocks with the objective of choosing the best and the top rated penny stocks.

The most successful Forex traders today are generally using Forex trading software when doing trades at the foreign currency market. This is due to the fact that most of these robots are able to generate more reliable and credible analysis that can significantly boost the earning potentials of several investors in foreign currency trade.

Most Forex trading software is generally programmed to read complex algorithms and data that allow them to generate excellent reports and analysis based on market trends over the years; as well as on other factors that affect the performances of each currency. It can significantly save you a lot of time and efforts in digging through heaping piles of relevant information and come up with credible analysis.



Another positive side of using these Forex robots is that they are devoid of emotional influences and personal preferences; it simply generates reports based on facts and trends, and possible outcome. However, on the negative side of using the program, you cannot purely on it to do the trade for you. Your expertise and skills, as well as your Forex trading strategies, are still required for complete success in this venture.

Bear in mind that the Forex trading software is an excellent tool for you to improve your success rate; and boosts your earnings in just little time compared to investors doing the trade without using one of these products to aid them. Hence, having one of these robots to support you in your investments in foreign currency market gives you significant edge over other traders who are not using the product.

Therefore, if you are harbouring some thoughts on investing some of your extra money in foreign currency market, make sure to get Forex trading software like the FAP turbo robot to support you in your venture if you want to have some gains from your investments.

To truly be able to overcome something like fear, you have to first understand it as the unique emotion that it is. Fear, in whatever form it manifests through your trading, is the direct counterpart to greed and will end up killing any progress you've made in your day to day processes.
Think of your viewpoints on fear, at least in relation to your trading: I'm sure most of the views you have are pretty cliched and common with everyone else. Fear causes people to do stupid things and make irrational decisions. Fear controls the minds of its followers. It allows unease and uncertainty to rule your actions.

In the beginning of what is now defined as your trading career, I'm sure you feared everything - small losses, losing our hard earned savings, and even just posting a lost, period. With every win we gained the fear that the next trade would wipe out our current profits. We feared the upcoming news, or the lack of it; we feared become even more afraid. We felt fear for failure, success, and the unknown variable in between them all.
You see, fear has an unequaled power to kill our focus. If you are feeling any fear at any point in your trade, you need to stop and reset your focus. Once you regain that focus, you can restart your trading attitude from there and allow yourself to reanalyze your decisions from the correct mindset.


From a logical standpoint, you need to consider the basis of what you are trading for and why you are doing it. Is this an attempt to gamble your way to the top? Is this a plan to just double your money a few times and move to a private island? If it is, I'm afraid you'll never shake the fear because you'll always know that your expectations are higher than the level you can execute at.
If you take this like a business, you'll go miles in the elimination of your fear automatically. All businesses sustain small losses, and they are always controllable - much like you can set a stop loss and guarantee you'll never lose more than you are willing to. If you've got the courage to put it at risk, you've already overcome the fear once before and should have no reason to fall back onto it.
Even if you still don't want to treat your trading career as a career or a business, you can still take solace in the fact that each trade is just about the money. It should never be about survival or a requirement. It's not the only way you gain money, and it's not the only way to guarantee yourself true success, either.
The fact of the matter is that fear is a two pronged emotion. Fear can be good - it can tell you when you need to exit a trade to stop losing money, but at the same moment fear can stop you from making more money by closing too quickly.