Ten questions that take seconds and eliminate the majority of avoidable losses.
Key takeaways
- A short pre-trade checklist prevents most impulsive entries.
- If any answer is missing, the trade is not ready.
- Consistency of process is what produces consistency of results.
Is this setup on my written list? Is it inside my trading window? Is the instrument one I trade? Is there a scheduled event in the next hour?
Where exactly is my stop, and why is the idea wrong at that price? What is the target, referenced to structure? What is the rupee risk, and does it equal my standard unit?
How many positions do I already have, and are any of them correlated with this one? Where am I against today's loss limit? And finally: would I take this trade if I were currently flat and calm?
Ten questions, ten seconds. Traders who run this checklist consistently report the same effect — fewer trades, better ones, and far fewer sessions they need to explain to themselves afterwards.
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