"I tend to cut bad trades as soon as possible, forget them, and then move on to new opportunities. The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you follow these three rules, you may have a chance". Ed Seykota
Personally, I trade up until about 11:00am to 11:30am. The volatility in the morning fits my trading style. That is key; you need to understand who you are as a trader and trade accordingly.
As you can see, the chart setup or systems that you look at are not the only factor in putting a day trade on. Remember, day trading is not absolute; it is a game of odds. Your job is to put the odds in your favor and by utilizing the different day trading time zones that we have discussed, your trading will become more consistent.
The best way to tame the beast is to turn day trading into a game. Not a complicated game like football, or basketball. Pick a mundane and boring game. The best one that comes to mind is bowling. Notice how a bowler will approach the lane, set their feet, and make the same motion with every toss. A bowler doesn’t go on a rough streak and then change their stance mid-game. So, if you are day trading, make it a game that you can keep score of. Trade the same setups each day. Use the same entry and exit strategies. This repetitive process will bring about true discipline, and consistent profits.
It is better as it is: I have failed but I can sleep;
Though the pit I now am in is very dark and deep I can walk to-morrow’s streets and can meet to-morrow’s men Unashamed to face their gaze as I go to work again.
I have lost the hope I had; in the dust are all my dreams, But my loss is not so great or so dreadful as it seems; I made my fight and though I failed I need not slink away For I do not have to fear what another man may say.
They may call me over-bold, they may say that I was frail; They may tell I dared too much and was doomed at last to fail; They may talk my battle o’er and discuss it as they choose, But I did no brother wrong–I’m the only one to lose.
It is better as it is: I have kept my self-respect. I can walk to-morrow’s streets meeting all men head erect. No man can charge his loss to a pledge I did not keep; I have no shame to regret: I have failed, but I can sleep.
[Snoop Doggy Dogg] One, two, three and to the fo' Snoop Doggy Dogg and Dr. Dre is at the do' Ready to make an entrance, so back on up ('Cause you know about to rip shit up) Gimme the microphone first, so I can bust like a bubble Compton and Long Beach together, now you know you in trouble Ain't nuthin' but a "G" thang, baaaaabay! Two loc'ed out niggas so we're craaaaazay! Death Row is the label that paaaaays me! Unfadeable, so please don't try to fade this (Hell yeah) But uh, back to the lecture at hand Perfection is perfected, so I'ma let 'em understand from a young G's perspective And before me dig out a bitch I have ta' find a contraceptive You never know she could be earnin' her man and learnin' her man - and at the same time burnin' her man Now you know I ain't with that shit, Lieutenant Ain't no pussy good enough to get burnt while I'm up in it (Yeah) And that's realer than Real-Deal Holyfield And now you hooka's and ho's know how I feel Well if it's good enough to get broke off a proper chunk I'll take a small piece of some of that funky stuff
[Dr. Dre and Snoop] It's like this and like that and like this and uh It's like that and like this and like that and uh It's like this and like that and like this and uh [S] Dre, creep to the mic like a phantom
[Dr. Dre] Well I'm peepin', and I'm creepin', and I'm creep-in But I damn near got caught, 'cause my beeper kept beepin' Now it's time for me to make my impression felt So sit back, relax, and strap on your seatbelt You never been on a ride like this befo' with a producer who can rap and control the maestro At the same time with the dope rhyme that I kick You know, and I know, I flow some ol' funky shit to add to my collection, the selection symbolizes dope, take a toke, but don't choke If you do, you'll have no clue on what me and my homey Snoop Dogg came to do
[Dr. Dre and Snoop] It's like this and like that and like this and uh, It's like that and like this and like that and uh, It's like this... [D] And who gives a fuck about hoes? [S] So just chill, til the next episode...
{*funky sample break*}
[Snoop Doggy Dogg] Fallin' back on that ass, with a hellified gangsta lean Gettin' funky on the mic like a ol' batcha' collard greens It's the capital S, oh yes I'm fresh, N double-O P D O double-G Y, D O double-G, ya see Showin' much flex when it's time to wreck a mic Pimpin' hoes and clockin' a grip like my name was Dolomite Yeah, and it don't quit I think they in the mood for some muthafuckin' G shit (Hell yeah) So Dre... (Whattup Dogg?) Gotta give 'em what they want (What's that, G?) We gotta break 'em off somethin' (Hell yeah) And it's gotta be bumpin' (City of Compton!)
[Dr. Dre] It's where it takes place - so when asked, yo' attention Mobbin' like a muh'fucka, but I ain't lynchin' Droppin' the funky shit that's makin' the sucka niggas mumble When I'm on the mic, it's like a cookie, they all crumble Try to get close, and your ass'll get smacked My muthafuckin' homie Doggy Dogg has got my back Never let me slip, 'cause if I slip, then I'm slippin' But if I got my Nina, then you know I'm straight trippin' And I'ma continue to put the rap down, put the mack down And if yo bitches talk shit, I'll have to put the smack down Yeah, and you don't stop I told you I'm just like a clock when I tick and I tock But I'm never off, always on, to the break of dawn C-O-M-P-T-O-N, and the city they call Long Beach Puttin' the shit together Like my nigga D.O.C., "No One Can Do It Better"
[Dr. Dre and Snoop] Like this, that and this and uh It's like that and like this and like that and uh, It's like this [D] And who gives a fuck about hoes? [S] So just chill, 'til the next episode...
Personally, I trade up until about 11:00am to 11:30am. The volatility in the morning fits my trading style. That is key; you need to understand who you are as a trader and trade accordingly. 
