Does anyone here have a checklist or scoring system for their trades they do before they put it on? I am currently thinking about developing one over the weekend to help my discipline. I hope it will help for that reason and make me more profitable. I haven’t seen much examples here at all. So if people do use them please share. Also any ideas on how to get started with that?
I am not good at checklist but maybe can give my own thought. i believe checklist are like a set of qns:
- Is the upcoming trade entry aligns with all the rules of your trading method
- Is the trade with or against the trend
- How long do you intend to stay in the trade
- What are the sl and TP level
- are there any majors news coming up?
Hope it helps.
Does anyone here have a checklist or scoring system for their trades they do before they put it on?
Read more: 301 Moved Permanently
I would say all profitable traders have one, it should be part of your
trade plan.
Such as,
- find inside bar
2 check stochs up/down
3 resistance/support level
4 any major news due
5 time of day
6 trend direction for the day
7 with trend/ against trend
8 S/L, risk amount, T/P
The answer to a few of these will be known at the start of the trading day.