Enter in to a trade only when you have the confidence.

Never enter in to a trade without confidence. You must have that probability to win the trade. Knowledge of entry, exit and stop loss is not the important part. The vital part of trade is following these rules. One must be disciplined to succeed.

You may have made profits in the same script for many times but that doesn't mean you are going to make profit in that again. Never get emotional attachment with any stock. The beautiful part of trading is we all know if we are going to win the trade or not just after the entry. Still we hold and wait till making a big loss.

Cut losses early when you know "You are in wrong place at the wrong time." We may enter in to a trade hoping to exit early as possible but when things go wrong you will wait and say I'm a value investor. No.. You are not. This is a big mistake that most beginners make in sock markets. Always Stick to the rule.