Here are 7 Questions our traders ask themselves before placing a trade:
1) What are the reasons for having this trade?
2) Do you have other trades that express the same view?
3) Is the trade that you are placing the best trade to profit from your view?
4) What are your Stop Loss and Take Profit levels?
5) Given the Stop Loss level, what is the correct size to execute the trade given the capital that you have?
6) Given the S/L and T/P, does the risk vs reward ratio warrant a trade at the price that you wish to execute the trade?
7) What are the risks associated with your trade i.e. what will cause your trade to lose money?
What are the questions you ask yourself before placing a trade? Retweet if you find this useful.
#trading #TradeWithTR
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