The Business
                       If you are to succeed at the  day  trading  business,you have to run it like one. At the end of  the  trading  day  you  take  noposition home overnight. By  adhering  to  this  discipline  you  avoid  theovernight risks that traders A&B both had with NEON. Day trading is  limitedby time and the average range of the  stock,  but  you  will  be  in  betterposition to control your risk and the size of your losses. This is  the  keypart of the "traders equation".                       The average size of a day  trader’s  profit  will  besmaller than that of a  short-term  position  trader  because  of  time  andrange. Day traders will be stopped out much quicker  than  position  tradersdue to daily market noise such as programs and announcements from  brokeragefirms and the companies  themselves.  The  most  important  thing  you  mustmanage as a day trader is the size of your loss. Secondly you must manage  awinning trade to maximize the profit on each trade. Your motto  will  become"make a point – lose a quarter". And you want to do this as  many  times  asyou can.