A checklist might help cover some common pitfalls but it all comes back down to your practice of trading.
If you are panic stricken butterfinger, you will lose money in trading no matter how many checklists you keep or tick off. If you are the nonchalant thug life trader, you have a better chance of surviving. But that is a topic for another day.
Use a checklist in the beginning of your trading career, start to give it up eventually.
Topic: Is trading checklist is very important? (Read 616 times)
Trading definitely requires testing strategies to find out what works in the market. We all wish there was a strategy that fits every situation, but sadly, that just isn’t the case. Successful traders thrive on consistency. But I agree, we can’t just rely on checklists; we also need to keep enhancing our knowledge and skills because that’s what really helps us to reach our goal.
Trading is hard and it's not easy for all traders especially new traders.They can try with own money, and it means actual trading capital, actual loss or profit. Most of time new traders will have losses and to avoid it, they can try with demo trading, backward test scripts on Trading View. Results from demo, tests can be good but actual trades are different than tests because with real money, you will feel more emotionally with greed, fear, panic, and make worse decisions than with demo or script test.
Quote
It’s tough to admit, but it’s not easy at all. Low effort never leads to success—it takes extra work. That’s why so many people either struggle or give up; they can’t handle the pressure of analyzing the market. With the market’s volatile nature, having the perfect timing for buy/sell calls is a real challenge!
Never easy. Trading is harder than investment and if anyone feel bad with trading, get enough losses from trading, it's time to start investment and better only focus on investment and forget about trading. 
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
It's the first time I'm seeing that trading checklist but as a trader I have been following most rules of that checklist for years, and I believe it's essential to follow those rules. I often trade the coins that can most probably give me profits but before opening any trade position I do my best in research about the coin and the chance of success it can get.A trader should always have his/her trading plans, strategies, market research, trading checklist, and most especially the control over ones emotions in order to get success in trading. These days anyone can be a trader by creating an account on a online exchange, but most of those are newbies who will end their trading journey in days or weeks.
A good trader has to learn the market and follow the above rules to get success in trading. Only those traders who survive in different conditions of the market will make profit in long run, and others will follow such traders.
It’s tough to admit, but it’s not easy at all. Low effort never leads to success—it takes extra work. That’s why so many people either struggle or give up; they can’t handle the pressure of analyzing the market. With the market’s volatile nature, having the perfect timing for buy/sell calls is a real challenge!
Obviously, otherwise it wouldn't be a trading checklist and we wouldn't need it. If you want to trade, then you need to have a checklist where everything hits perfectly and we could make some good profit from it without much trouble.
I believe that the situation we are in right now would be getting a lot worse if we just traded without caring about anything, that would result with a bad trade where you lose money and because of that I think it's clear that we are going to see some bad results and not make any money at all. I know that it's hard for some people because they can't wait to get rich, some even invest into things that promises riches in a week or month but that's definitely scam and you should stay away from it but making those people wait for a month to just find one trade that may give you 3% return isn't easy. And yet that is what you should be doing so it is not that easy to convince these people to do the right way of trading.
I believe that the situation we are in right now would be getting a lot worse if we just traded without caring about anything, that would result with a bad trade where you lose money and because of that I think it's clear that we are going to see some bad results and not make any money at all. I know that it's hard for some people because they can't wait to get rich, some even invest into things that promises riches in a week or month but that's definitely scam and you should stay away from it but making those people wait for a month to just find one trade that may give you 3% return isn't easy. And yet that is what you should be doing so it is not that easy to convince these people to do the right way of trading.
Those are the common trading checklist actually as a trader you must need to have your plan like verification of the trade if its ideal to make a position or not of course you have a post-trading plan and pre-trading plan. Once you make a position already you can check this the trend and there's any change of character happens or not. Also if the trade close already to check if the position is ideal for another trend but of course doesn't mean you need to make a fast position just to carried out still need to check.
Before opening your trading position, you need to consider chance of success (profit) and probability of failure (loss) and if you see that it's more likely to get profit than loss, you can open a trade. Make sure you know what is your exit prices for profit and cut-loss.
Always use Stop loss order or Stop limit order for your trading positions.
Well, I don't use stop losses that much but surely I use take profit for each position. I always open my trading positions carefully and that's why in very conditions I use stop losses, when I'm not fully sure about the condition of the market or when I think that market can swing back.Always use Stop loss order or Stop limit order for your trading positions.
Stop losses are necessary in case when you're taking risk in your positions or you're a type of trader who doesn't want to hold a position for long time or someone who open short positions. For someone like me it's not that much necessary because I'm a patient trader and I do averaging to fix my positions.
Why is it now I just have seen this? This is really an interesting topic to talk about because this would lead towards better understanding of and results that could be reached with adding this with your arsenal or ritual.
It could lead to better performance because you will make sure that you reach the right conditions in your trading rules for yourself. That's why I really love Gunbot because it makes it easier for me to trade and not have to check it continuously.
It could lead to better performance because you will make sure that you reach the right conditions in your trading rules for yourself. That's why I really love Gunbot because it makes it easier for me to trade and not have to check it continuously.
It looks like a checklist someone made for themself. It does look some what good and yeah, its not a bad idea to have such list. It helps you stay focused on goals and not make impulsive decisions when trading. It has some important notes to keep in mind, but the priority in the list can be different for each person. For example, for some person, the risk to reward ratio might be the most important thing when taking any decisions, so they would put that at the top of their list. Others might care more about economic news or technical indicators. So they can keep that on the top of the checklist. Lists like this helps people to make sure they are following their plans well. It also helps then to control their losses and manage their finances well. But at the end of the day, it is skill and experience that is the most important thing in a trading.
before opening any trade position I do my best in research about the coin and the chance of success it can get.
Before opening your trading position, you need to consider chance of success (profit) and probability of failure (loss) and if you see that it's more likely to get profit than loss, you can open a trade. Make sure you know what is your exit prices for profit and cut-loss.Always use Stop loss order or Stop limit order for your trading positions.
Stop-Loss order, one of best weapons in trading.
Stop-Limit order, another weapon in trading.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
It's the first time I'm seeing that trading checklist but as a trader I have been following most rules of that checklist for years, and I believe it's essential to follow those rules. I often trade the coins that can most probably give me profits but before opening any trade position I do my best in research about the coin and the chance of success it can get.A trader should always have his/her trading plans, strategies, market research, trading checklist, and most especially the control over ones emotions in order to get success in trading. These days anyone can be a trader by creating an account on a online exchange, but most of those are newbies who will end their trading journey in days or weeks.
A good trader has to learn the market and follow the above rules to get success in trading. Only those traders who survive in different conditions of the market will make profit in long run, and others will follow such traders.
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I totally agree. Check like that is a great idea and it's better yet to fill it with more ideas/points that would help the trader in the future. And continue to trade responsibly, that's the main thing that will help anyone, really.
No rush, only facts in front of you, no emotion to push you into something. It's hard, but it's possible.
Experience comes only with time and trial and error.
We will get experience when we try something new so that will improve our knowledge so we can do better than before. While we use the checklist, we can see what we miss and need to do but if we feels that we don't know or don't have much skills about that, we can learn more and try as we can. That will help us to gain more experience so that will help our trading and we can be more practiced using many things that we learned. Having checklist will help us to work as it written in the checklist so we will usually do the thing as it sequentially and once we can do that, we will not feels that is difficult. No rush, only facts in front of you, no emotion to push you into something. It's hard, but it's possible.
Experience comes only with time and trial and error.
definitely, from your list all the point are spot on, I think any experienced trader always do exactly what mentioned, analyzing the market first and checking all those list before making decision.
you just never stop doing all those thing in every market movement to find out some opportunity even more so at such shaky market like right now.
determining risk to reward ratio is also one thing that prevent most of people from losing too much and make reckless trade, the people that ignored this list usually are newbie that just open position without any knowledge backing it up or in other word, they don't know what they should do in the first place.
in my book, the list that get mentioned in your post, is called technical analysis.
Indeed, the points mentioned by the op are important points that we must do before we enter the market and make an entry. We cannot miss these points, that's why we always say that we must analyze thoroughly before actually entering the market. If we miss just one thing, it might result in a big loss for us. This is one way for us to make our chances greater to take advantage, not only doing technical analysis but fundamental analysis is also very much needed. Even if we talk further, then we must see our mental readiness before trading. Because usually there are times when we are not fully ready, that is the wrong time to trade, because it will affect us, either being afraid or being greedy. you just never stop doing all those thing in every market movement to find out some opportunity even more so at such shaky market like right now.
determining risk to reward ratio is also one thing that prevent most of people from losing too much and make reckless trade, the people that ignored this list usually are newbie that just open position without any knowledge backing it up or in other word, they don't know what they should do in the first place.
in my book, the list that get mentioned in your post, is called technical analysis.
definitely, from your list all the point are spot on, I think any experienced trader always do exactly what mentioned, analyzing the market first and checking all those list before making decision.
you just never stop doing all those thing in every market movement to find out some opportunity even more so at such shaky market like right now.
determining risk to reward ratio is also one thing that prevent most of people from losing too much and make reckless trade, the people that ignored this list usually are newbie that just open position without any knowledge backing it up or in other word, they don't know what they should do in the first place.
in my book, the list that get mentioned in your post, is called technical analysis.
you just never stop doing all those thing in every market movement to find out some opportunity even more so at such shaky market like right now.
determining risk to reward ratio is also one thing that prevent most of people from losing too much and make reckless trade, the people that ignored this list usually are newbie that just open position without any knowledge backing it up or in other word, they don't know what they should do in the first place.
in my book, the list that get mentioned in your post, is called technical analysis.
They're important. And that is because many traders are losing their grip when they're so emotional that they're forgetting that these guidelines are there for each of us to remember our main goal why we trade. It serves its purpose for giving every trader a reminder to focus on things that you have to look at and avoid being the drama king for each trades that we commit.
No rush, only facts in front of you, no emotion to push you into something. It's hard, but it's possible.
This is true, no rush because if you're going to trade at most times and you are worrying a lot. That only means that you're not ready and much better if you avoid trading and go back to the reasons why you have done these trades or why you are staying committed as a trader. I think so too, bro, we can be wiser in taking future steps with a checklist. We can be more careful because we have our own monitoring as well as our own trading journey, whether it is profitable for us or whether we are making a loss, so there are other steps. What we can do to overcome the existing problems is that we can also quickly take steps to improve our market, at least we don't lose too much in the problems we are currently experiencing, while improving we can also take lessons for the future to be more careful and Be alert to bad markets.
We can make a plan with that checklist so we can go with the right way and try to achieve one by one from the checklist. We can also see how good the progress that we do so we can see what happen after we run our plan. If something goes wrong, we can fix that by searching for the other ways so that will not disturb the other lists that we want to do. We can be more careful and aware of the market situation change so we can directly adapt with the current situation and know what step that we should make. We also not in rush in making a decision because we will makes many options with consideration of the risks behind of the decision. We learn to be wise in trading so we can keep calm down in any situation by always trying to figure out what happen to the market.I totally agree. Check like that is a great idea and it's better yet to fill it with more ideas/points that would help the trader in the future. And continue to trade responsibly, that's the main thing that will help anyone, really.
No rush, only facts in front of you, no emotion to push you into something. It's hard, but it's possible.
Experience comes only with time and trial and error.
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Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
I think so too, bro, we can be wiser in taking future steps with a checklist. We can be more careful because we have our own monitoring as well as our own trading journey, whether it is profitable for us or whether we are making a loss, so there are other steps. What we can do to overcome the existing problems is that we can also quickly take steps to improve our market, at least we don't lose too much in the problems we are currently experiencing, while improving we can also take lessons for the future to be more careful and Be alert to bad markets.
We can make a plan with that checklist so we can go with the right way and try to achieve one by one from the checklist. We can also see how good the progress that we do so we can see what happen after we run our plan. If something goes wrong, we can fix that by searching for the other ways so that will not disturb the other lists that we want to do. We can be more careful and aware of the market situation change so we can directly adapt with the current situation and know what step that we should make. We also not in rush in making a decision because we will makes many options with consideration of the risks behind of the decision. We learn to be wise in trading so we can keep calm down in any situation by always trying to figure out what happen to the market. 
Having a trading checklist is necessary to start the research of the market situation so we can adjust ourselves with the current situation. If the market is difficult to analyze, we don't have to enter to the market but we can wait for a while and still watching the market move. We must hold ourselves and wait for the right time to trade while we can still analyze the market to find the time. With having the checklist, we can try to analyze one by one from the checklist and we will see the time to enter to the market. Maybe it is difficult to do but with practice, we will do that and will have a chance to make a profit. We don't have to afraid if what we do will fail because we still have more chances to do better things.
I think so too, bro, we can be wiser in taking future steps with a checklist. We can be more careful because we have our own monitoring as well as our own trading journey, whether it is profitable for us or whether we are making a loss, so there are other steps. What we can do to overcome the existing problems is that we can also quickly take steps to improve our market, at least we don't lose too much in the problems we are currently experiencing, while improving we can also take lessons for the future to be more careful and Be alert to bad markets. hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
Having a trading checklist is necessary to start the research of the market situation so we can adjust ourselves with the current situation. If the market is difficult to analyze, we don't have to enter to the market but we can wait for a while and still watching the market move. We must hold ourselves and wait for the right time to trade while we can still analyze the market to find the time. With having the checklist, we can try to analyze one by one from the checklist and we will see the time to enter to the market. Maybe it is difficult to do but with practice, we will do that and will have a chance to make a profit. We don't have to afraid if what we do will fail because we still have more chances to do better things.
I quite see how important it is for every trader. I believe that by following this consistently, success is not impossible. We know consistency is quite difficult, but a person, a trader, who wants to become successful in their career must adhere to a strong belief and have the courage to take down all the challenges.
It is important for all traders especially newbie traders who need to learn and remember most important principles. Checklist can help newbies avoiding to miss some important factors of consideration for a trade. Rather than relying on their memory, that can miss some principles and fail to remember the full checklist, they can use tools like a paper, a screen, a note, whatever that can help them to always see the full check list.However, it's not enough. Knowing about the checklist, risk and things to avoid, is good start but if along your trading journey, you ignore these things, you're done with poor decisions and bad results.
However, becoming profitable in trading goes beyond that. MM (Money Management) and psychological control of our emotion are the two needed consciousness for trading success. While MM deals with unnecessary greed, psychological control puts our patience in check. Without those two, every trader will be running in circles between profit and loss until the eventual burning of their account.
Traders can write or print a check list of must-do things, and stick it on wall but if in practice, in actual trading, they can not be disciplined enough, the checklist wil become useless. Controlling emotion, psychology is key to maintain principles and take action based on important things in the check list.
I quite see how important it is for every trader. I believe that by following this consistently, success is not impossible. We know consistency is quite difficult, but a person, a trader, who wants to become successful in their career must adhere to a strong belief and have the courage to take down all the challenges.
Trading checklist is very necessary for traders as it allows or reminds traders to always consult with their trading plans and strategies. However, becoming profitable in trading goes beyond that. MM (Money Management) and psychological control of our emotion are the two needed consciousness for trading success. While MM deals with unnecessary greed, psychological control puts our patience in check. Without those two, every trader will be running in circles between profit and loss until the eventual burning of their account. 
I know some traders that has made it their natural culture to always keep informed with significance economic news that could affect their trade, some traders have actually made money from becoming good at fundamental analysis.
News usually goes lively when you are sleeping or doing something off computers. If you rely on news, news updates for your trades, you soon will lose money because of news.Always use order types like Stop-Loss order, Stop-Limit order, to help minimize your loss, exit the market automatically even when you are sleeping. No matter what news comes out, it's not matter, if price falls and hits your stop-loss or stop-order trigger price, your position will be closed and it will help you avoid black swan events and market bloodbath.
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Before entering a trade, ask yourself the following questions:
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
Hmm, Quite a precise checklist, but at least 2 of them are unnecessary to follow always, haha I won't comment on this one as important with first place and second place. A trader needs to be conscious about all of them, if your base is discipline all of them are a piece of cake for you while analyzing any kind of trade. TBH checklist is the need of a new trader as far as it's concerned with the experienced trader according to his routine he follows it sub-consciously.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
I agree with your words. there are no traders who are instantly successful. all go through a complicated learning process. Even after learning, traders also need experience to make them successful.trade continues to develop, and the abilities of each trader must also be updated. especially to determine the right strategy that may be most appropriate for the trader. sometimes it takes several attempts to master it.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
I agree with your words. there are no traders who are instantly successful. all go through a complicated learning process. Even after learning, traders also need experience to make them successful.trade continues to develop, and the abilities of each trader must also be updated. especially to determine the right strategy that may be most appropriate for the trader. sometimes it takes several attempts to master it.
Now, having trading checklist is important as well. If you want to increase your rate of success and minimize trading failures, get ready to follow your trading checklist or your trading plan, otherwise your trading attempt will less likely to succeed.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
I agree with your words. there are no traders who are instantly successful. all go through a complicated learning process. Even after learning, traders also need experience to make them successful.trade continues to develop, and the abilities of each trader must also be updated. especially to determine the right strategy that may be most appropriate for the trader. sometimes it takes several attempts to master it.
I quite see how important it is for every trader. I believe that by following this consistently, success is not impossible. We know consistency is quite difficult, but a person, a trader, who wants to become successful in their career must adhere to a strong belief and have the courage to take down all the challenges.
It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.
It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.
Consistency is often something that is difficult to maintain and often people will give up because of circumstances.
In terms of trading, consistency will not be a trigger for someone to persist because if the trades they do often experience losses, it will make them stop.
This point of consistency will be much more difficult to apply because no one will want to persist when they always experience losses in trading.
The method may be simple and if trading skills are not adequate, then involvement in trading should use smaller capital so that people can persist in consistency to develop the trading potential they run.
The list or points that you share can be a trigger to increase trading potential or skills, but it is difficult to be consistent if it is not accompanied by results which is satisfying based on good trading knowledge.
The checklist is very important for traders to know before they trade and it will definitely help them to navigate the market more easily and can increase their profit potential. But maybe we need to add psychology management here, because it is one of the important factors in trading, since a trader can make the wrong decision when they are emotional and do not manage their emotions properly - it is not about being able to control emotions, but managing them properly, for example avoiding trading when in a burdened position, etc.
Well, having a trading checklist is certainly an essential in trading as it would create higher chances for a successful trading outcome. Aside from controlling high emotions when trading, we should also build more consistency in following our trading plan because that will be the key in order to achieve our main goal in trading. Be it seeking profitable patterns in the market or staying with the market trends, as long as you're responsible enough to know well in trading, then success could be more highly possible. 
I've found this article...
https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
This are very good checklist or questions to be asked oneself before Venturing the market. You know usually most people do not care about anything what they believe is that got involved and start making profits but without knowing there are cure things to be focused and needs to be consistent with what they are doing and off cause any person who aren't auditing himself before jumping into the Market to trade would definitely face huge lose. For someone to be come successful in trading they need to be vast in knowledge and open to accept any change or adjust themselves for a productive results. https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
Quote
Before entering a trade, ask yourself the following questions:
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
I quite see how important it is for every trader. I believe that by following this consistently, success is not impossible. We know consistency is quite difficult, but a person, a trader, who wants to become successful in their career must adhere to a strong belief and have the courage to take down all the challenges.Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
The checklist is very important for traders to know before they trade and it will definitely help them to navigate the market more easily and can increase their profit potential. But maybe we need to add psychology management here, because it is one of the important factors in trading, since a trader can make the wrong decision when they are emotional and do not manage their emotions properly - it is not about being able to control emotions, but managing them properly, for example avoiding trading when in a burdened position, etc.
Checklist is surely important because if you are entering into trade you are having no strategy it's more pain then you are having things already settle for your trading journey and having some good ways of staying with update things related to trading.Even everyone having own ways of doing things but usually when we are having all things manage this give us better psychological advantage for doing work without any hassle, and we can also manage our trades well while are having risk factor then surely things like these help us for doing good decisions even still factor of loss is still on, but we can go ahead with positive mind-set which is the most important thing for staying into trading for long time.
In any case, I would likewise like if they would add the point in which the merchant finds out if he was acting in light of feeling or not so much for mental assessment prior to affirming the exchange. That is the justification for why the greater part of the dealers have a low success proportion they are likewise anxious to procure pretty quick, with no persistence which is the reason the vast majority of the merchants miss any of these from the agenda above yet regardless of whether they have pretty low win rate they actually create a colossal gain due their methodology.
If there is no persistence in doing anything, of course there will never be any victory in any form from any job, because persistence is part of everyone's basic interest in doing a job, especially if the job is trading which in general must have several important points that must be understood before doing it. Because in trading there is no term that can get rich quickly or can immediately profit at a certain moment except just because there is a little luck that can make it get profit on a certain day.
In any case, I would likewise like if they would add the point in which the merchant finds out if he was acting in light of feeling or not so much for mental assessment prior to affirming the exchange. That is the justification for why the greater part of the dealers have a low success proportion they are likewise anxious to procure pretty quick, with no persistence which is the reason the vast majority of the merchants miss any of these from the agenda above yet regardless of whether they have pretty low win rate they actually create a colossal gain due their methodology.
The checklist is very important for traders to know before they trade and it will definitely help them to navigate the market more easily and can increase their profit potential. But maybe we need to add psychology management here, because it is one of the important factors in trading, since a trader can make the wrong decision when they are emotional and do not manage their emotions properly - it is not about being able to control emotions, but managing them properly, for example avoiding trading when in a burdened position, etc.
Trading checklist may not be so crucial for someone who is professional in trading. However, for those beginners in trading, I believe this could help them a lot so they can assess the market well if there are potentials for a successful trading or the chances are very slim. With that, it could also help them limit their trading losses as well because once their checklist results seem not good enough to trade, then they will wait for the right timing to trade.
Yeah, I agree with you that trading checklist is not of essence to professional traders and it is of essence to the beginners traders because it will help them a lot in making the right decision before engaging themselves in trading, a business is always a business so I think that it is also useful to professional traders for them to become a successful trader, it will also serve as a guideline to them and how they will manage their business, after making the trading checklist and the person study it very well, he or she will be able to make the right decision weather he can trade or not.
I've found this article...
https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
Quote
Before entering a trade, ask yourself the following questions:
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
I quite see how important it is for every trader. I believe that by following this consistently, success is not impossible. We know consistency is quite difficult, but a person, a trader, who wants to become successful in their career must adhere to a strong belief and have the courage to take down all the challenges.Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
1. If you would really be tending to make some scalping then YES, if you are trying to find some entry or exit then its NO!
2. S&R are always relevant, if you do know these lines then you do have the idea about exits and entries
3. Of course you would really be considering this all the time
4. Totally depends on a certain person. Capital/Risks management/Guts
5. Same on #4
6. Fundamentals cant really affect 100% but as we can see recently it do really make that effects
7. You must but there would really be instances that plans do change or being retroactive basing up on the market condition.
This is why being a trader is never been that so easy yet dealing with an unpredictable and random market in terms of price movement
but of course if you are really that serious towards trading then you woul really be needing to learn stuffs.
Trading checklist may not be so crucial for someone who is professional in trading. However, for those beginners in trading, I believe this could help them a lot so they can assess the market well if there are potentials for a successful trading or the chances are very slim. With that, it could also help them limit their trading losses as well because once their checklist results seem not good enough to trade, then they will wait for the right timing to trade.
I've found this article...
https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
As long as a person keeps trading and they follow whatever parameters they think it is important when they do it, then sooner or later this will become an action they do in automatic without even thinking about it, this makes consistency even more important, because early on doing all of that may seem to take forever and you may even forget to do so from time to time, but once you do this long enough, it is likely you will be able to do all of that in a matter of seconds, guaranteeing that each one of your trades is done only when the conditions are on your favor. https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
Quote
Before entering a trade, ask yourself the following questions:
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
I quite see how important it is for every trader. I believe that by following this consistently, success is not impossible. We know consistency is quite difficult, but a person, a trader, who wants to become successful in their career must adhere to a strong belief and have the courage to take down all the challenges.Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
For me, all these points may all boil down to a single thought, that is if you are actually trading following the trading plan. With that, having risk management is already included knowing you can't do a successful trading if you don't have an effective risk management. Trade according to your set risks, and never do trading if it's beyond your trading risk management, that is if you don't want to end your trade at a loss.
Yeah, no matter what number they are, all of them are still important and should be considered if we are serious on this venture, so even if there are no numbers, it is completely fine. As we can see, risk management is not mentioned there but the guy above is right that the number 5 in the list sounds like it, though even if it isn't there, this is already understood no matter what we are doing (be it trading, investing, staking, mining, lending, gambling, doing a business, and so on..). Actually, without a risk management, doing a successful trade is still possible.What I mean is we can push the transaction through but the thing is that the amounts that we are dealing with might be a bit high, or the assets that we are using are only a shitcoin, meme coin, or something. Like it or not, there will always be traders who are like this. They are hard-headed or too naive. Meanwhile even if we are following the proper protocol in trading, we can expect that losses are still there. It's normal and part of the game. The thing is, we can only worry less and can proceed to our next agenda, so trading like this is still better than trading the other way around.
Realizing that you need to do this check is the start of your trading, memorizing and doing it is your veteran life. Most people do not make a checklist to trade, we know these already and we already consider these when we are trading, so it is not like we are going to make some changes to it at all, it is going to be basically what we think of it.
I understand that we are going to end up with something a little bit more tougher if we do not look at them, so you should definitely learn them if you are new, but not for veterans. Some of them aren't even that important, if you see a proper trade then you do it , and you just consider what the chart/indicators are telling you and if you know what you are doing then most of the time you will be fine.
Not a lot of people do that of course, most people ignore the checklist and the warning comes with the fact that if you are not a veteran trader who already takes care of business, then you can't ignore these. Newbies should focus on anything that will make it better for them and most of the time it is not really that clear that's good for them, so it should not be really considering the reality that it would make things so much more special.
I understand that we are going to end up with something a little bit more tougher if we do not look at them, so you should definitely learn them if you are new, but not for veterans. Some of them aren't even that important, if you see a proper trade then you do it , and you just consider what the chart/indicators are telling you and if you know what you are doing then most of the time you will be fine.
Not a lot of people do that of course, most people ignore the checklist and the warning comes with the fact that if you are not a veteran trader who already takes care of business, then you can't ignore these. Newbies should focus on anything that will make it better for them and most of the time it is not really that clear that's good for them, so it should not be really considering the reality that it would make things so much more special.
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I've found this article...
https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
Quote
Before entering a trade, ask yourself the following questions:
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
Very important! The checklist that you provide is a very good one. A good trader always have a rulebook to follow on every trade to ensure that you are trading based on the strategy that you developed for a more consistent result.
Emotion usually affects your trade especially when there’s a trend of price action to do a mistake that cause losses. The current problem of crypto traders nowadays are they are chasing shitcoins like a hellhound without considering any plans or thorough research about fundamentals.
That checklist is just a guide. But we know that trading is more than that having a checklist. And if that guide is going to help a newbie or an existing trader, that's nice.
The most important factor that a trader should have is the eagerness to continuously learn from the market and with his trades.
With the mistakes that he'll get from trading upon usage of that guide and checklists, a trader is going to get that success in no time but do not hurry and take one step at a time.
The most important factor that a trader should have is the eagerness to continuously learn from the market and with his trades.
With the mistakes that he'll get from trading upon usage of that guide and checklists, a trader is going to get that success in no time but do not hurry and take one step at a time.
We should have a different trading checklist following other checklists which are not fit into your trading strategy and skills you might end up losing all capital.
Quote
Before entering a trade, ask yourself the following questions:
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
7. Am I following the trading plan?
There are 7 points in the given trading checklist and I would like to move the 6th point upwards to a first position in the checklist.Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
7. Am I following the trading plan?
How much capital am I risking with trading?
This should be a most important point for a trader to ask himself because capital and risk management must be a first step to do, before entering this market and do other steps for trading.
I mean is it a "must" or is it good to have? I think it could be something that we could talk about as a good thing, we should consider this as a very well adjusted situation. If you do it, that would be good, but if you do not do it, then it would be quite entertaining for us in the end. That is the thing about all of this situation, we could make it work. There is really nothing that could make this a required thing, there isn't really anything that could make it work some other way, so its going to be nice situation but you could avoid it if you want to. I hope that we could make it work some other way, it would be not a huge deal but I believe that not many veterans are doing it neither.
It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
Having a checklist on the market before trading is a very good tool to enhance your trading skills. If you adhere to them consistently you’ll be able to know when to enter or leave a trade. The market always follows same process and if you’re able to understand how the market ranges from time to time, you’ll easily become very profitable in the market rather than just entering the market base on just trial and not necessarily sure if the market will go the way you’re predicting it to go. One thing about trading is that it’s not luck and when you’re consistently winning is when you’ll know that it’s not luck but actually a knowledge that you’ve learnt that’s given you results like that. Have a checklist, cross check it if all demands are met before executing a trade.
OP deserves merits. Most traders are not following this. That is why they are losing. But even as I am trading, there are some that I do not follow but which caused me loss sometimes. Example is when I start to trade new coin, I will use the same amount of money and leverage which I was using to trade old coins. But sometimes the new coin volatility can be 2 time or more than the old coins and which can make my trading plan changed and lead to some losses.
I don't have a checklist but I think it's really important to have a checklist because sometimes when trading I forget a few things from the checklist before I enter and make a position which leads to loss instead of checking and confirming everything first before you take a position.
Have a checklist sticks on the wall, near a computer screen looks better and gives you feel of being safer because you are preparing good steps to trading safely. However, it is only first feeling and preparation, if later you become undisciplined, you will lose your direction in trading easily.Another person, don't compose, print and stick a trading checklist like you but can still be disciplined in trading and succeed, because he has his checklist in brain and by being disciplined, success comes naturally. Of course, he need more than discipline to succeed in trading.
I don't have a checklist but I think it's really important to have a checklist because sometimes when trading I forget a few things from the checklist before I enter and make a position which leads to loss instead of checking and confirming everything first before you take a position.
That's the reason why most of the traders have a pretty low win ratio they are also eager to earn pretty fast, with no patience which is why most of the traders miss any of these from the checklist above but even if they do have pretty low win rate they still make a huge profit due their strategy like 1:5 ratio and I think this checklist have a similarity list that created by Rayner Teo a fake trader according to some traders?
We should have a different trading checklist following other checklists which are not fit into your trading strategy and skills you might end up losing all capital.
That's the reason why most of the traders have a pretty low win ratio they are also eager to earn pretty fast, with no patience which is why most of the traders miss any of these from the checklist above but even if they do have pretty low win rate they still make a huge profit due their strategy like 1:5 ratio and I think this checklist have a similarity list that created by Rayner Teo a fake trader according to some traders?
We should have a different trading checklist following other checklists which are not fit into your trading strategy and skills you might end up losing all capital.
With that trading checklist, we can analyze what we already done and learn so we can see what we need to do in the next trade. If you can find that you must fix one of that list, you can improve yourself and understand the lesson you learned. Develop our skills is a must in trading because that will helps us to profit in trading although learning about trading is not easy.
Number 5 seems important to understand because we must know how much capital we can use to trade. We can not risks too big money to trade especially if we still learning and a beginner in trading.
Number 5 seems important to understand because we must know how much capital we can use to trade. We can not risks too big money to trade especially if we still learning and a beginner in trading.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
I agree with your words. there are no traders who are instantly successful. all go through a complicated learning process. Even after learning, traders also need experience to make them successful.trade continues to develop, and the abilities of each trader must also be updated. especially to determine the right strategy that may be most appropriate for the trader. sometimes it takes several attempts to master it.
I've found this article...
https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
All the above checklists are important before pulling the market trigger and I must tell you that I do all these and even more. Dailyfx is an old FX site whose information can't be taken for granted, I respect it a lot, it should be more than 2 decades in existence now. However, I would also like if they could add the point in which the trader asks himself whether he was acting based on emotion or not for psychological evaluation before confirming the trade. This is because no matter the checklists and plans you have, if emotion creeps in, your efforts will be futile. https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
Quote
Before entering a trade, ask yourself the following questions:
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
Quote
Before entering a trade, ask yourself the following questions:
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
7. Am I following the trading plan?
There are 7 points in the given trading checklist and I would like to move the 6th point upwards to a first position in the checklist.Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
7. Am I following the trading plan?
How much capital am I risking with trading?
This should be a most important point for a trader to ask himself because capital and risk management must be a first step to do, before entering this market and do other steps for trading.
I've found this article...
https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html
Quote
Before entering a trade, ask yourself the following questions:
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
I quite see how important it is for every trader. I believe that by following this consistently, success is not impossible. We know consistency is quite difficult, but a person, a trader, who wants to become successful in their career must adhere to a strong belief and have the courage to take down all the challenges.Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?
It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.
If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.
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