Do you sometimes hesitate about a new trade you are considering ?

True, no one can be 100% certain of all the trades all the time. But while there is always room for doubt, you may use this doubt to double-check your readiness. Below you will find a simple checklist you can use before every trade.

Before you click BUY or SELL, take a slight pause to ask yourself a few questions below. They will confirm if the trade fits your plan. Or you will find that you are acting on emotions, and it will be a good reason to avoid the trade.

Does the trade fit your strategy?

Select a higher timeframe and compare the trend with what you see for lower timeframes.
Mark key support and resistance levels.
Verify the setup for compliance with your strategy.
If you want to open a trade based on a signal, confirm your decision with indicators and candlestick patterns.

Do you understand fundamental factors?

Have you checked the Economic Calendar for any upcoming releases?
Will the releases impact the trading instrument you are considering?
Do you expect high volatility because of the Fed’s announcements, earnings, or inflation data?
Check correlations with related trading assets.

Have you set your risk management parameters?

The position size will not let you lose more than 1 or 2% of your capital.
You have set the stop-loss and take-profit levels.
You use the risk-to-reward ratio of at least 1:2.
Think about partial exits if needed.

Are you mentally ready?

Are you calm and focused?
Are you willing to follow your plan and stay disciplined?
Are you free from revenge trading thoughts after previous losses?
Are you willing to close the trade if it goes against you?

Is the trade logistics settled?

Double-check all the options you’ve selected for your order: instrument, direction, volume.
Confirm you’re trading in the appropriate market session.
Set alerts for important levels.

Copy and use it

You can consider yourself fully prepared for a trade when all the points are checked. If anything is missing, you may adjust the trade or wait for another opportunity. Once you see the opportunity, make sure to analyze it again with this checklist.

If you integrate this checklist into your trading routine, you will notice how it helps you remove doubts, stay disciplined, and reduce the number of mistakes you make. So, are you prepared for your next trade?

•Most Trusted Broker — Asia 2025
•Broker of the Year — LATAM 2025

These awards confirm our commitment to building a rewarding trading environment and helping you uncover your potential. Thank you for choosing to trade with an award-winning broker!

Why choose MetaTrader 5 with Top Forex Brokers?

 •Blazing-fast execution & enhanced stability

 •38 built-in technical indicators & 21 timeframes for precision trading

 •Optimized for all devices—desktop, mobile & web

 •Trade a wide range of assets: Stocks, Commodities, Forex & more!

Best Forex Brokers

https://www.brokersss.com