Some trading notes

1% per trading day is beating the market

If a stock goes up by 1%

With a $5000 investment, 1% is a return of $50
With a $10,000 investement 1%

There are many more opportunities available to make 1% in a day, than there are to make 10% in ten days or 100% in 100 days.

The 1% rule means we trade often, and take profits often. The positive psychology of this has a tremendous impact on our confidence.

Don't use trading stops. If you are thinking about using a trading stop, then your intuition is telling you that your want to take profit, and not stay in the game. So go ahead and take the profit, then  reenter the trade with the same stock if it is really still a good opportunity.