Some basic rules for successful trading

Money	:	Never trade with money you cannot afford to lose
Trend	:	Always ride the trend and never try to decide a trend
Selection	:	Always select the stocks, for there are always bullish  stocks in a bearish market and bearish stocks in a  bullish market.
Timing:	:	Never initiate your trade at the opening bell, wait for a  market to make initial high and lows
Quantity		Always while trading keep the amount same in each trade  and not the quantity, ex: if have traded 50000/- in one,  trade 50000/- in another rather than trading 100 shares in  each trade. i.e. keep  the trading amount same in each  trade rather  than the trading quantity.
Learning	:	Blaming market is trying to hide your mistakes from yourselves ,making fool of one’s self, thereby losing an opportunity to learn,  markets are never wrong, the blame lies with trader.
Introspection	:	Always introspect at the end of every trading day, next day will  work wonders.
Risk/ reward ratio	:	Never ever enter a trade where the risk to reward ratio is  less than 1:4
No of Trades	:	Always trade in 2 to 3 stocks at any given point of time,  how lucrative the market be, be master of some than being jack of all, keep buffering profits,  you’ll find stock markets a wonderful place to be in...
Stop loss	:	Stop loss is essence for trading, never trade without a stop loss,  though adequate liverage should be taken while placing  stop losses in a volatile market.
Averaging	:	Averaging has no place in day trading, either u get out of the trade  with the  stop loss getting triggered or get the target
Success	:	Always use trailing stop loss, when the trade initiated,  starts bearing results, to get maximum profit.
Greed:	:	Always be ready to take the profits home, if the initial trades  have worked for you,  be ready to go home , do not trade for the broker
Confience:	:	If the markets are not making you confident do not trade,  just for the sake of trading ,  wait for clear signals
Rumors	:	Never trade on news or rumors, always follow the levels,  remember, news does not make levels,  it just triggers levels.
Levels	:	Never get panicked or exited by the happenings on the screen,  stick to the levels and stop loss, else you’ll always end up loser
Psycology	:	Never follow the mass [the people sitting besides u],  for 95% of them do not understand market
Decision	:	Be ready to book loss if the ship starts to sink, do no pray ,  just jump.
Patience:	:	Patience is the name of the game, always exercise patience  and restrain during the course of trading, for if a couple of trades  have worked against u, take a gap and try to get the trend.
Speculation:	:	Check on the speculative tendency, every rise or fall has a logic  behind it, just do not be speculative, without logic.
Failures	:	Always treat failures [losses] if any, as an learning opportunity,  for every failure opens the doors of success, failures should be  used as a source of motivation rather than depression.