Pre-Trade Checklist (12 Steps)

A simple pre-trade checklist for risk, position sizing, fees, and execution. Printable and easy to follow.

• Setup is clear (why this trade?)
• Entry is defined (price or trigger)
• Invalidation is defined (stop level)
• Risk per trade is fixed (e.g., 1%)
• Position size calculated (not guessed)
• Costs estimated (fees, slippage, spread)
• Risk/Reward acceptable
• Exit plan exists (TP, trailing, partials)
• Total open risk is within limits
• Correlation risk checked
• If stopped, you accept the loss emotionally
• Journal note: why this trade fits your rules

Tools:

• Position Size Calculator
• Risk/Reward Calculator
• PnL Calculator