Journaling Pre-Trade Checklists
A 1-minute lesson from the MarketPro academy, one of 14 in trade journaling and review.
A pre-trade checklist is a short list of conditions that must be true before you're allowed to enter a trade. Logging whether each item was actually checked, rather than just assuming it was, closes the gap between the plan you intended to follow and what you actually did.
A pre-trade checklist is a short list of conditions that must be true before you're allowed to enter a trade. Logging whether each item was actually checked, rather than just assuming it was, closes the gap between the plan you intended to follow and what you actually did.
A typical checklist might confirm that the setup matches a defined pattern, that the risk on the trade is within your normal limits, that a stop loss level is identified before entry, and that no unusual emotional state (rushed, distracted, upset) is present.
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Lesson 11 of 14 in Trade journaling and review
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