Forex Trading Checklist
Forex Trading Checklist
General Items
- Stay Disciplined and Follow Trading Plan
- Maintain Emotional Control
Pre-Trading Preparation
- Review Economic Calendar for Major Events
- Analyze Currency Pairs for Trading Opportunities
- Check Market Sentiment and News Impact
- Ensure Trading Platform is Functioning
- Update Trading Journal with New Strategies
- Set Trading Goals for the Day
Technical Analysis
- Identify Support and Resistance Levels
- Use Technical Indicators (e.g., RSI, MACD)
- Check Chart Patterns (e.g., Head and Shoulders)
Risk Management
- Determine Position Size According to Risk Tolerance
- Set Stop-Loss and Take-Profit Levels
- Review Risk-Reward Ratio for Each Trade
Execution of Trades
- Double-check Entry and Exit Points
- Monitor Trade Execution for Slippage
- Adjust Stop-Loss if Trade Goes in Favor
Post-Trading Review
- Analyze Trades for Success or Failure
- Update Trading Journal with Insights
- Adjust Strategies Based on Performance Review
Generated from Panda Checklist
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