1. Never add to a losing position.
2. Never risk more than 5 percent of your trading capital on any one trade.
3. Always have a protective stop in the market.
1. Never close a trade without a reason.
2. Take responsibility for your trades.
3. Markets that have higher lows are in uptrends. Markets that have lower highs are in downtrends.
4. Always do your analysis prior to the market open
Now, why its better to do the analysis before the market opens: you can have plenty of time to decide what to do and you can test several things and stuffs, you can recheck your analysis again: You can write the notes. And once the market opens you dont need to panic, you just do according to things you did when the market was closed.