Just a few tips I thought I'd share:
First, try not to overestimate or underestimate your competitiveness (i.e apply broadly). Additionally, grade trends matter.
Second, as a general rule of thumb, apply to all of your state schools (if applicable), schools that you are within the 10th-90th percentile according to MSAR, and your dream schools (can be a couple of schools or it can be a lot of schools depending on your budget).
Third, it is important to apply early especially if you overestimate/underestimate your competitiveness. For example, I was verified at the end of June and completed most of my secondaries between early and late July. I got my first interview at a top 20 (i.e Pitt) at the beginning of August and thus I had a good sense of how competitive my application was regardless of whether I was rejected from schools that were less competitive or more competitive than Pitt. You can always add more schools if you are verified early and still be "on time." I added Brown in mid August because a friend recommended I apply and I wound up getting an interview/acceptance.
Being "complete" at schools after Labor Day is generally considered late. There are always exceptions of course.
Not receiving an interview invitation before Thanksgiving is usually not a good sign, although there are people who receive their first interview invitation as late as early March (school dependent) and are ultimately accepted (this happened to a friend of mine).
Not receiving an acceptance offer by mid-Feb is generally not a good sign. There are exceptions to this of course (e.g acceptance off of the waitlist, etc.).
Lastly, this process can be unpredictable/stressful at times and so try to find things that occupy your time (school work, job, working out, hobbies, etc.). Reach out to those who support you and talk to them. Don't go through this process alone. FYI, some schools do practice yield protection. So just because you get rejected from a school you were statistically competitive for doesn't mean there is something wrong with your app.
Relax, make your app the best it can be, practice for interviews, believe in your application and most importantly, trust yourself. It'll work out!
EDIT: A lot of this advice is based on SDN wisdom from some of the AdCom's on this site and my own/friends experiences.
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