8. No Hope Trading
Successful trading is based on analysis, a strong mindset, and proven strategy and does not depend on luck, hope, or wishful thinking.
So traders have to follow this options day trading rule with discipline to become a successful options trader. When traders depend on luck or hope then the only thing they have faced is loss. So traders have to avoid hope trading and exit their position compulsory when the price goes against them.
Traders have to never play with their stop-loss order. Before taking a position decide their stop loss and stick with it, whatever may happen.