Strategy 2.
Put Money Aside
Determine how much money you're willing to risk on each deal and stick to it. Many effective day traders trade with less than 1% to 2% of their accounts at any given time. Your maximum loss per trade is $200 (0.5 percent x $40,000) if you have a $40,000 trading account and are ready to risk 0.5 percent of your capital on each deal.
Set aside a sum of money that you can trade with and are willing to lose.