A one-page routine to run before every trade. Save it, print it, or keep it open next to your chart.
Before the market opens
- Have I decided the maximum I can lose today? (Many traders cap this at 2–3% of capital.)
- Do I know the key levels for my instruments today (previous high/low, pivots or CPR)?
- Are there major news events or results today that could cause sudden moves?
Before every entry
- Is this setup part of my written rules, or am I reacting to price?
- Where exactly is my stop-loss, and why is it there?
- How much will I lose if the stop-loss is hit? Is it within 1–2% of my capital?
- Where will I book profit, and is the reward at least 2x the risk?
- Is my position size calculated from the stop-loss, not from a guess?
While in the trade
- Am I moving my stop-loss only in the direction of profit, never away from it?
- Am I following my profit-booking plan instead of hoping for more?
After the trade
- Did I follow my rules? Write yes or no, regardless of profit or loss.
- Note the entry, exit, stop-loss and result in a trade journal.
- Have I hit my daily loss limit? If yes, stop for the day.
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For education only. Not investment advice. Trading involves substantial risk of loss. Full disclaimer.