Day Trading

When you trade, you implicitly assert that you are willing to take on risk. This risk is something which cannot be eliminated, and in a day trading scenario is a bit harder to manage.

The most basic rules would be to put stop loss orders for an acceptable level of loss you are willing to take on the downside, and not let emotion or sentiment about the stock affect that.

On the upside, it is always good to know what is an acceptable level or return, and set triggers to sell atleast part of the holdings that point. There are a variety of methods and strategies you could employ to manage risk. You can look at hedging your positions with options, and a good reading would be the book 'Options Futures and Other Derivatives' by John Hull.