If you trade without a plan, you are not trading — you are guessing. And guessing does not last long in the markets. Before entering any trade, review this checklist to stay aligned with your strategy, manage risk properly, and make informed decisions. 1 Trade Entries and Exits 🎯 First, be clear about this: Where, how, and why are you entering the trade? Where, how, and why will you exit? You should always define: ✔ Stop loss ✔ Profit target ✔ Trailing stop plan ✔ Indicator confirmation If your entry rules are not clear, you should not take the trade. 2 Risk Control 🛡️ This is the most important section. ✔ What is your position size? ✔ What are your daily, weekly, or monthly loss limits? ✔ What is the maximum number of open positions? ✔ How much capital is allowed in a single trade? What will you do during major news events? Will you hold or exit before volatility? Will you keep trades overnight or over the weekend? Without risk control, even the best strategy will fail. 3 Market Focus 📊 ✔ Which markets will you trade? ✔ What timeframes will you use? Not every market fits every trader. Choose what matches your personality and schedule. 4 Market Conditions Context 🌍 Markets behave differently depending on conditions. ✔ Trending ✔ Ranging ✔ Choppy ✔ Volatile How will you identify the current condition? And what are your rules for exiting early if conditions change? 5 Growth and Goals 🚀 Define your purpose clearly. ✔ Are you trading for income or long term growth? ✔ Full time career or side hustle? ✔ How will you manage trading hours and life balance? ✔ What is your plan after wins and losses? ✔ How will you handle savings and taxes?