Use money you can afford to lose.
If it’s above it you won’t be able to enjoy the mental freedom to make sound trading decisions. Key is mental independence.
Trade what you see, not what you want to see.
Be a trend follower and ride the momentum. Don’t start the day with an opinion. Let the market tell where it wants to go. Opinions are what get you in trouble. Always trade the trend. In fact ride it. For god sake, don’t go against it.
If you have missed an opportunity, don’t run behind it.
Just wait for another one in such a big market. Remember patience always pays.
Don’t Let Losses Compound.
Per your trading plan you should already know when and where you will cut your losses. Whether it’s a technical failure or percentage move doesn’t matter as long as you have something in place to mitigate risk. Some traders have an even lower tolerance for loss than you might have which is fine. The key point here is to have set points (stop loss) within the limits of your tolerance for loss.
Treat trading as a BUSINESS.
Earnings (profits) & Expenditure (losses). Learn to like losses as they are the part of the business. In short gain emotional stability to accept a loss without hurting your pride. Just like in any business, in trading also cut short your losses (stop loss) and let the profits run (trailing stop loss).