These are rules that I cannot break: The more I break these rules the less chance I have for success.

Do not take position sizes such that I cannot allow the stock to reasonably move against me and cause panic.

Have set risk and take the loss

Do not add to a losing position unless it is part of the trade plan.

Do not hold a losing position when it is breaking support.

Do not short stocks that are b/o above key levels.

Do not make a trade out of fear of missing the trade

Do not revenge trade.

Do take profits when the stock is approaching key resistance. I can always dip buy if support holds.

Small position sizes only if trading in the afternoon

Take short profits when the stock is approaching key support.

Pay attention to the 5min9ema. It is right much more than it is wrong. It's not all telling but it does give nice indications of potential reversals, resistance and support.

Do not play speculative..sometimes you are right, sometimes wrong. In the end you end up at the best, scratch, and cause yourself more stress for little to no gains.

DO play long trades that have

1. Catalyst: Earnings, Contracts, Clinical Data

2. Breaking out of key levels

3. Dip buy at key support levels, not speculative afternoon intraday support. The more support levels, minute, daily, weekly, monthly, yearly that are coincidental the better.

DO play short

1. stocks breaking key support on fading volume

2. stocks that are not breaking key resistance levels that are making lower highs, lower lows.

3. stocks that are nearing LONG term resistance and the more overhead the better.. that have large percentage gains. Just be careful and do not take large position size on the front side move. It may crack resistance and run on.

Develop a trade plan for each potential trade, execute the plan... evaluate the theory, execution and outcome of the plan,  make improvements if needed. 

ABOVE ALL, cut losses quick, take profits and don't watch them get eaten away. Keep it simple as possible. The more guess work that goes in to making a play the less your odds for success. Always evaluate risk/reward before placing a trade. Key question to  ask  is NOT how much can I make, but how much can I lose.. what is my risk ??  There has to be enough upside potential if going long to make the trade viable, and there has to be enough downside potential if shorting. If risk is low but the up/down potential isn't there because of close support or resistance levels then the trade may not be a trade to make as there may be limited volatility.