What's your per-trade planning checklist?
Between "setup on the chart" and "order placed" sits a checklist: calendar clear, level valid, size calculated, stop placed, target set, reason written. The checklist is the strategy's last line of defence.
Share yours, item by item:
- the exact checks in order
- which check catches the most mistakes
- how the checklist evolved over time
The position sizing guide and order types guide fill in two of the items.
Background: Position sizing: how to risk a fixed percentage per trade
How much you trade matters more than where you enter. A step-by-step method for sizing positions from your stop-loss and the amount you are willing to lose.
How do I calculate lot size from risk?
Divide the amount you are willing to lose by the stop distance in pips multiplied by the pip value per lot. For $50 risk, a 25-pip stop and $10 per pip per lot, that is 0.20 lots.
What is the 1% rule in trading?
A guideline to risk no more than 1% of the account on any single trade, so a losing streak doesn't cause a drawdown you can't recover from. It is a starting point, not a guarantee.
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