“Rule 7: Retail traders trade only Stocks in Play, high relative volume stocks that have fundamental catalysts and are being traded regardless of the overall market.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“If you examine the work of most successful traders, they all take many small losses. Their results are littered with numerous small losses of 7c (cents), 5c, 3c, and even 1c per share. Most good day traders have few losses that are more than 30c per share. Most winning trades should work for you right away.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“There have been times when I’ve been in the trade, had an $ 80,000 position, and all I needed to do was to sell. But as I was looking at my keyboard, I found myself frozen like the proverbial deer in the headlights. I couldn’t even figure out which keys to punch. This sort of paralysis is not unusual when you’re overwhelmed.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“Keep a daily record of both your trading results and your physical condition and you will see these relationships for yourself. Begin preventive maintenance by keeping your body, and thus your mind,”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“One of the key contributors to traders’ self-discipline is their physical and mental health. People who eat well-balanced nutritional meals, exercise regularly, maintain proper body weight and fitness levels, and get adequate rest are likely to have the levels of energy and alertness that are required to make them effective traders.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“I am holding around $ 25,000 in my trading account and I usually choose 800 shares to trade. My daily goal is $ 500 or $ 120,000/ year. That is sufficient for my lifestyle. What is your trading goal?”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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I thought of you when I read this quote from “How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology” by Andrew Aziz – “Rule 5: Success in day trading comes from risk management – finding low-risk entries with a high potential reward. The minimum win:lose ratio for me is 2:1.” Start reading this book for free: https://a.co/9Xee8Ge

“One of my favorite trading expressions is “live to play another day”. This simple saying says so much about the mindset of a professional trader. If you survive the learning curve, then the good times will come and you can become a consistently profitable trader.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“From when the market opens at 9: 30 a.m. until around 11: 30 a.m. New York time, is when the market will have the most trading volume and also the most volatility. This is the best time to trade and to especially focus on momentum trading”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“The majority of day traders don’t trade penny stocks or on the over-the-counter (OTC) market. Penny stocks are extremely manipulated and they do not follow any of the rules of the standard strategies. We trade real stocks. Sometimes we may be trading Facebook (ticker: FB) and sometimes we may be trading Apple (ticker: AAPL), but we will always be trading the stocks that are having a big day.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“You just want to ensure you are trading stocks that are moving because they have a fundamental reason to move and are not just moving with the overall market conditions: Stocks in Play.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“Of the various HFT programs that are currently operating, one of the least effective is the so-called “Buy the New Low” program. When a stock reaches a new intraday low, many day traders will go short to ride the downside momentum. This program then begins to buy the shorts from those day traders to push the price higher. This causes day traders to panic and to cover their shorts. Because the organizations behind HFT programs have almost limitless buying power, the plan sounds flawless. The plan quickly breaks down, however, when another large institutional seller is behind the trade and decides to dump their large positions.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“It is extremely important to stay away from stocks that are being heavily traded by institutional traders. As an individual retail day trader, you must stick to your retail trading territory.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“As a retail day trader, you profit from volatility in the market. If the markets are flat, you are not going to make any money; only high frequency traders make money under these circumstances. Therefore, you need to find stocks that will make quick moves to the upside or to the downside in a relatively predictable manner.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“But if you short sell that company at $ 5 and then the price, instead of going down, starts going higher and higher, then there won’t be any limit to your loss. The price may go to $ 10, $ 20, or $ 100, and still there will be no limit to your loss. Your broker wants those shares back. Not only can you lose all of the money in your account, but your broker can also sue you for more money if you do not have sufficient funds to cover your shorts.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“Day traders can borrow shares from their broker and sell them, hoping that the price will go lower and that they can then buy those shares back at a lower price and make a profit. This is called selling short, or simply short.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“overall, in my opinion, the most common reason that people fail in day trading is that they do not regard it as a serious business. They instead treat it as a form of gambling that will quickly and easily make them rich.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/2JoAPYJ