Rules Should Be Follow
1- Do not use your entire capital in a single trade.
2- Always scale in and out of a trade, you can not know the exact entry price, use ranges
3- Know your risk / reward before entering
4- Determine the conditions that invalidates your setup before you initiate a trade.
5- When you are wrong based on those conditions, do not hope and watch, start scaling out.
6- Always maintain some cash, there will always be new opportunities.
7- Stay away from high leverage unless you are a day trader.
8- If you day-trade and use high leverage, never hold a position overnight. Opening gaps can kill you.
9- Beware of the volatility and beta of the stock and market, adjust your position sizes accordingly. You should reduce your trading sizes when volatility rises.
10- Control your greed and fear. You can only achieve this by thinking analytical and methodological. When you control these two emotions, it will be much easier to take profits and cut losses.