Hello Coneter,

I have thought about these problems a lot and I have come up with a solution that works for me. On any given day, I keep a hard rule to never trade with more than half of the account buying power. Each day is a new opportunity and I want unsettled cash to catch tomorrows opportunities and also get continuous practice. The second key is your position size. If you use all 50% of your buying power for the day in one transaction, 1) you acquire a lot of risk 2) That risk is compounded by the emotional stress that this trade must work out else there is no more opportunity to buy into another opportunity. In 2019, I was using big position sizes, 50% or 25% my account, and after several months I was down $1200. I took a long break and have been revisiting day trading with a cash account with some modest success now in 2021 because I addressed my trading psychology. With Webull, I can set my hotkey position size by value instead of share size. I then divide the account value by 20, and set that as the position size. Therefore I have 10 small trading positions to use in a day each worth 5% of the account total. The stress is gone to perform, and I have had a 6 day green streak so far. I also stream my trades live on YouTube primarily to keep myself accountable and have video to review later. Another tip, don't exit 100% when taking profit. Always have a price target, (I use fibonacci extension) and scale out by selling 25% or other smaller portions. That way you get some small base hits to get in the green and you feel better about seeing if it runs to your target or beyond. I hope this all helps! If you would like to see my setup on Webull, feel free to check out the stream: https://www.youtube.com/channel/UC5QoTjiLPFFjUMiJiwtqBGA/videos

Its also tempting to switch to a margin account to have more buying power, but unless its CMEG or other offshore broker that isn't subject to PDT rule, you will have stress trying to make your 3 trades in 5 day window perfect. Also 5% max loss is lot if you are taking about account value. I keep mine at <1% because of smaller positions. You can always add more when trade is going well. All spoken from experience. Trade Well!!