Pre-Trading Preparation

1.Review overall market conditions.

2.Check for major economic events or news releases.
3.Confirm the smooth operation of your trading platform.

Define Your Trading Plan

4.Set clear entry and exit criteria.
5.Determine position size and risk management strategy.
6.Clearly outline your short-term and long-term trading
goals.
7.Specify the time frames you will trade (e.g., day trading,
swing trading).
8.Set realistic profit targets for each trade.
9.Establish guidelines for adjusting your trading plan
based on market conditions.
10.Document your preferred trading hours and frequency.

Technical Analysis
11.Analyze relevant candlestick patterns on
different time frames.
12.Check support and resistance levels.
13.Consider trendlines and other technical indicators.
Risk Management
14.Set a stop-loss level based on risk tolerance.
15.Determine the maximum percentage of trading capital
to risk on a single trade.
16.Set a maximum percentage of your trading capital to
risk on any single trade.
17.Determine the risk-reward ratio for each trade.
18.Use stop-loss orders to limit potential losses.
19.Regularly reassess and adjust your risk management
parameters.
20.Avoid over-leveraging and ensure margin
requirements are met.

Position Sizing
21.Calculate position size based on risk per trade.
22.Adjust position size in accordance with account size
and risk tolerance.
23.Reevaluate position sizes periodically based on
account growth or drawdowns.
Entry and Exit Criteria
24.Define clear entry points based on your strategy.
25.Establish criteria for taking profits and cutting losses.
26.Identify conditions for exiting a trade early, whether at
a loss or before reaching the target.
27.Be disciplined in following your predefined entry and
exit criteria.
Monitoring and Adjustment
28.Regularly monitor open trades.
29.Be prepared to adjust stop-loss or take-profit levels if
market conditions change.
30.Be prepared to scale into or out of positions based on
changing market conditions.
Post-Trade Analysis
31.Review the outcome of each trade.
32.Analyze both winning and losing trades for
improvement.
33.Document lessons learned and areas for
improvement.
34.Consider the impact of emotions on your decision-
making process.
35.Keep a trade journal for continuous self-assessment.

Learning and Improvement

36.Reflect on trading performance.
37.Identify areas for improvement and adjust the trading
plan accordingly.
38.Regularly update your knowledge of market trends and
strategies.
39.Seek feedback from other traders or mentors.