1. Day trading is a zero sum game with few exceptions. Success requires substantial investment in capital, time and technology. I suspect that if serious traders factored the cost to watch their portfolios eight hours a day, 5 days a week, the potential profit picture would evaporate.
2. Diversify across all asset and income categories. Most investors forget to consider their employer as a source of substantial risk. Consider the Nortel employee who invested their RRSPs into Nortel stock and subsequently gets "outsourced".
3. Buffett was right...stick to what you know. Do not invest in new technologies that you cannot understand yourself.
4. Buy the market. Its cheap and will save you in the future. Protect the majority of your portfolio from company specific risk. In other words don't just buy 3 stocks with $100,000.
5. Use quality internet investment sites. Check out the sites listed on this site. I use them all.
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