Pre -Trade Checklist

June 17th, 2021, 11:46 AM

Would anyone care to share a mental or written checklist of questions they ask themselves or items you review before putting on a trade? What are the key elements you consider before clicking the button? Thank you, Bel

Dwight Schrute: Whenever I'm about to do something, I think, 'Would an idiot do that? ' And if they would, I do not do that thing. This is funny but when it comes to trading I think it's a valid consideration.

June 17th, 2021, 01:55 PM

- WHEN AND WHICH NEWS ARE SCHEDULED FOR TODAY? Sorry for caps but this is VERY IMPORTANT. Always check when are the news and stay away!

- Are my STOPS put in the place properly?

- Are my conditions met COMPLETELY before I pull the trigger? If not, do not enter.

- How is the volume doing? This can matter a lot depending on what type of strategies you have. E.g. If ES is dead, you cannot trade if your strategies rely on high volume and movements.

After you entered your trade: If you see it is not working as intended, close it with a small loss, otherwise you can lose even more in matter of seconds sometimes. That is why, your stops have to be in place whenever you enter ANY orders. Period.

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Pre -Trade Checklist

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Pre -Trade Checklist