On #5, I would argue that intraday leverage may be ok, depending on the assets you're trading. If you have a $50K account, buying 1000 shares of AAPL (a roughly

On #5, I would argue that intraday leverage may be ok, depending on the assets you're trading. If you have a $50K account, buying 1000 shares of AAPL (a roughly $100K position) for an intraday trade isn't necessarily dangerous. Overnight leverage is a whole different risk profile. I would also add another rule: 6) Think of your job as a trader is not to make money - it is to manage risk. If you have an edge, the money will come. But if you fail to manage risk, you will fail.