Hi
Trying to impose discipline in my trading i did the following:
I impose three rules to myself:
1. I can enter the trade only if one of my 2 setups occur
2. I must check the economic calendar for the news before to place the trade
3. I must place an order with predetermined entry, stop loss and take profit
On peace of paper, I make check boxes, and I must check that I perform those three tasks, BEFORE to place the order.
I believe that those three things give me some edge over other traders, and I filter some bad trades, since many times my order is not filled, and I cancel the order (price goes in opposite direction)
Any of you use such check list before to place the trade? What do you have on your list?
What gives you an edge? Any idea what I should add to this list?
Also, I would like to mention that since I start to implement those three rules, my trading improve dramatically. So goal of this post would be to add some more rules in attempt to improve my trading and to give him a treatment as any other business.
Regards, Zoreli
Trying to impose discipline in my trading i did the following:
I impose three rules to myself:
1. I can enter the trade only if one of my 2 setups occur
2. I must check the economic calendar for the news before to place the trade
3. I must place an order with predetermined entry, stop loss and take profit
On peace of paper, I make check boxes, and I must check that I perform those three tasks, BEFORE to place the order.
I believe that those three things give me some edge over other traders, and I filter some bad trades, since many times my order is not filled, and I cancel the order (price goes in opposite direction)
Any of you use such check list before to place the trade? What do you have on your list?
What gives you an edge? Any idea what I should add to this list?
Also, I would like to mention that since I start to implement those three rules, my trading improve dramatically. So goal of this post would be to add some more rules in attempt to improve my trading and to give him a treatment as any other business.
Regards, Zoreli