What are the most important questions to ask before you place a trade?
1. Is this trade part of your plan?
3. Have you prepared for every possibility?
4. Are you trading your chosen market?
5. Are you in the right frame of mind?
6. What are the probabilities associated with this trade?
7. What is your risk?
8. Where will you place your stop?
9. Where will you take your profit?
10. When will you give up on a bad trade? Or, when will you recognise that you’re wrong?
11. What is your exit strategy?
12. What is your plan if volatility soars?
13. Are you following the major trend?
14. Are you listening to your own voice/ analysis?
15. Do you have positive expectations?
16. Do you have enough capital?
17. Do you have enough time?
18. Have you checked other timeframes?
19. Have you confirmed your signal?
18. Do you really want to win?