Is trading checklist is very important?

[retreat]

The checklist is very important for traders to know before they trade and it will definitely help them to navigate the market more easily and can increase their profit potential. But maybe we need to add psychology management here, because it is one of the important factors in trading, since a trader can make the wrong decision when they are emotional and do not manage their emotions properly - it is not about being able to control emotions, but managing them properly, for example avoiding trading when in a burdened position, etc.

[gastrack]

In any case, I would likewise like if they would add the point in which the merchant finds out if he was acting in light of feeling or not so much for mental assessment prior to affirming the exchange. That is the justification for why the greater part of the dealers have a low success proportion they are likewise anxious to procure pretty quick, with no persistence which is the reason the vast majority of the merchants miss any of these from the agenda above yet regardless of whether they have pretty low win rate they actually create a colossal gain due their methodology.

[CageMabok]

In any case, I would likewise like if they would add the point in which the merchant finds out if he was acting in light of feeling or not so much for mental assessment prior to affirming the exchange. That is the justification for why the greater part of the dealers have a low success proportion they are likewise anxious to procure pretty quick, with no persistence which is the reason the vast majority of the merchants miss any of these from the agenda above yet regardless of whether they have pretty low win rate they actually create a colossal gain due their methodology.

If there is no persistence in doing anything, of course there will never be any victory in any form from any job, because persistence is part of everyone's basic interest in doing a job, especially if the job is trading which in general must have several important points that must be understood before doing it. Because in trading there is no term that can get rich quickly or can immediately profit at a certain moment except just because there is a little luck that can make it get profit on a certain day.

[fullhdpixel]

The checklist is very important for traders to know before they trade and it will definitely help them to navigate the market more easily and can increase their profit potential. But maybe we need to add psychology management here, because it is one of the important factors in trading, since a trader can make the wrong decision when they are emotional and do not manage their emotions properly - it is not about being able to control emotions, but managing them properly, for example avoiding trading when in a burdened position, etc.

Checklist is surely important because if you are entering into trade you are having no strategy it's more pain then you are having things already settle for your trading journey and having some good ways of staying with update things related to trading.

Even everyone having own ways of doing things but usually when we are having all things manage this give us better psychological advantage for doing work without any hassle, and we can also manage our trades well while are having risk factor then surely things like these help us for doing good decisions even still factor of loss is still on, but we can go ahead with positive mind-set which is the most important thing for staying into trading for long time.

[Adbitco]

I've found this article...
https://www.dailyfx.com/education/find-your-trading-style/trading-checklist.html

Before entering a trade, ask yourself the following questions:
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?

I quite see how important it is for every trader. I believe that by following this consistently, success is not impossible. We know consistency is quite difficult, but a person, a trader, who wants to become successful in their career must adhere to a strong belief and have the courage to take down all the challenges.

It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.

If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.

This are very good checklist or questions to be asked oneself before Venturing the market. You know usually most people do not care about anything what they believe is that got involved and start making profits but without knowing there are cure things to be focused and needs to be consistent with what they are doing and off cause any person who aren't auditing himself before jumping into the Market to trade would definitely face huge lose. For someone to be come successful in trading they need to be vast in knowledge and open to accept any change or adjust themselves for a productive results.

[Distinctin]

The checklist is very important for traders to know before they trade and it will definitely help them to navigate the market more easily and can increase their profit potential. But maybe we need to add psychology management here, because it is one of the important factors in trading, since a trader can make the wrong decision when they are emotional and do not manage their emotions properly - it is not about being able to control emotions, but managing them properly, for example avoiding trading when in a burdened position, etc.

Well, having a trading checklist is certainly an essential in trading as it would create higher chances for a successful trading outcome. Aside from controlling high emotions when trading, we should also build more consistency in following our trading plan because that will be the key in order to achieve our main goal in trading. Be it seeking profitable patterns in the market or staying with the market trends, as long as you're responsible enough to know well in trading, then success could be more highly possible.

[tottong]

I quite see how important it is for every trader. I believe that by following this consistently, success is not impossible. We know consistency is quite difficult, but a person, a trader, who wants to become successful in their career must adhere to a strong belief and have the courage to take down all the challenges.

It was already given, and all we need to do is follow and develop winning skills that lead us to success. Of course, it was not just those things on the lists but also our behavior.

Consistency is often something that is difficult to maintain and often people will give up because of circumstances.
In terms of trading, consistency will not be a trigger for someone to persist because if the trades they do often experience losses, it will make them stop.
This point of consistency will be much more difficult to apply because no one will want to persist when they always experience losses in trading.

The method may be simple and if trading skills are not adequate, then involvement in trading should use smaller capital so that people can persist in consistency to develop the trading potential they run.
The list or points that you share can be a trigger to increase trading potential or skills, but it is difficult to be consistent if it is not accompanied by results which is satisfying based on good trading knowledge.

[shawonngp]

If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.

I agree with your words. there are no traders who are instantly successful. all go through a complicated learning process. Even after learning, traders also need experience to make them successful.
trade continues to develop, and the abilities of each trader must also be updated. especially to determine the right strategy that may be most appropriate for the trader. sometimes it takes several attempts to master it.

Right, success in trading can not be easy and not at overnight, every successful trader spend a lot of valuable time to learn crypto trading, also they lost a lot of money, then they are experienced gradually it's a long process to success in trading, i am started trading a few years ago but still i am learning because i don't know everything in trading.

[Questat]

If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.

I agree with your words. there are no traders who are instantly successful. all go through a complicated learning process. Even after learning, traders also need experience to make them successful.
trade continues to develop, and the abilities of each trader must also be updated. especially to determine the right strategy that may be most appropriate for the trader. sometimes it takes several attempts to master it.

Right, success in trading can not be easy and not at overnight, every successful trader spend a lot of valuable time to learn crypto trading, also they lost a lot of money, then they are experienced gradually it's a long process to success in trading, i am started trading a few years ago but still i am learning because i don't know everything in trading.

Learning is always a continuous process as you will keep on learning everytime you trade. Even pros in trading need to keep learning as well, because regardless if you are a professional trader or not, learning should always serve as the foundation in trading.

Now, having trading checklist is important as well. If you want to increase your rate of success and minimize trading failures, get ready to follow your trading checklist or your trading plan, otherwise your trading attempt will less likely to succeed.

[laijsica]

If we think we will become successful traders, then we must open wide to learn more insights that could enhance our capabilities.

I agree with your words. there are no traders who are instantly successful. all go through a complicated learning process. Even after learning, traders also need experience to make them successful.
trade continues to develop, and the abilities of each trader must also be updated. especially to determine the right strategy that may be most appropriate for the trader. sometimes it takes several attempts to master it.

Right, success in trading can not be easy and not at overnight, every successful trader spend a lot of valuable time to learn crypto trading, also they lost a lot of money, then they are experienced gradually it's a long process to success in trading, i am started trading a few years ago but still i am learning because i don't know everything in trading.

Crypto trading in particular is relatively complicated with high profit potential coupled with high financial loss potential. Successful trading depends on choosing the right currency with experience and holding long-term holdings and should also keep a buying trend in every bearish period. If you are only experienced and do not have modest holdings, you may be exposed to losses. The tendency to get instant capital and profits accordingly is very risky so every investor should build potential currency stacks and take appropriate decisions during bullish times.

[Hamza2424]

Hmm, Quite a precise checklist, but at least 2 of them are unnecessary to follow always, haha I won't comment on this one as important with first place and second place. A trader needs to be conscious about all of them, if your base is discipline all of them are a piece of cake for you while analyzing any kind of trade. TBH checklist is the need of a new trader as far as it's concerned with the experienced trader according to his routine he follows it sub-consciously.

[Stepstowealth]

Before entering a trade, ask yourself the following questions:
Trading Checklist
1. Is the market trending or ranging?
2. Is there a significant level of support or resistance nearby?
3. Is the trade confirmed by an indicator?
4. What is the risk to reward ratio?
5. How much capital am I risking?
6. Are there any significant economic releases that can impact the trade?
6. Am I following the trading plan?

As a trader continues to trade, they may no longer need to keep a physical checklist of these questions to ask themselves, they will naturally seek out those answers each time before making a trading decision. It is mostly new traders who may need to keep a physical checklist so that they consciously remind them self before these questions start naturally occurring to them. I know some traders that has made it their natural culture to always keep informed with significance economic news that could affect their trade, some traders have actually made money from becoming good at fundamental analysis.

[dzungmobile]

I know some traders that has made it their natural culture to always keep informed with significance economic news that could affect their trade, some traders have actually made money from becoming good at fundamental analysis.

News usually goes lively when you are sleeping or doing something off computers. If you rely on news, news updates for your trades, you soon will lose money because of news.

Always use order types like Stop-Loss order, Stop-Limit order, to help minimize your loss, exit the market automatically even when you are sleeping. No matter what news comes out, it's not matter, if price falls and hits your stop-loss or stop-order trigger price, your position will be closed and it will help you avoid black swan events and market bloodbath.

[Mpamaegbu]

I quite see how important it is for every trader. I believe that by following this consistently, success is not impossible. We know consistency is quite difficult, but a person, a trader, who wants to become successful in their career must adhere to a strong belief and have the courage to take down all the challenges.

Trading checklist is very necessary for traders as it allows or reminds traders to always consult with their trading plans and strategies. However, becoming profitable in trading goes beyond that. MM (Money Management) and psychological control of our emotion are the two needed consciousness for trading success. While MM deals with unnecessary greed, psychological control puts our patience in check. Without those two, every trader will be running in circles between profit and loss until the eventual burning of their account.

[SquirrelJulietGarden]

I quite see how important it is for every trader. I believe that by following this consistently, success is not impossible. We know consistency is quite difficult, but a person, a trader, who wants to become successful in their career must adhere to a strong belief and have the courage to take down all the challenges.

It is important for all traders especially newbie traders who need to learn and remember most important principles. Checklist can help newbies avoiding to miss some important factors of consideration for a trade. Rather than relying on their memory, that can miss some principles and fail to remember the full checklist, they can use tools like a paper, a screen, a note, whatever that can help them to always see the full check list.

However, it's not enough. Knowing about the checklist, risk and things to avoid, is good start but if along your trading journey, you ignore these things, you're done with poor decisions and bad results.

However, becoming profitable in trading goes beyond that. MM (Money Management) and psychological control of our emotion are the two needed consciousness for trading success. While MM deals with unnecessary greed, psychological control puts our patience in check. Without those two, every trader will be running in circles between profit and loss until the eventual burning of their account.

Traders can write or print a check list of must-do things, and stick it on wall but if in practice, in actual trading, they can not be disciplined enough, the checklist wil become useless. Controlling emotion, psychology is key to maintain principles and take action based on important things in the check list.

[ethereumhunter]

Having a trading checklist is necessary to start the research of the market situation so we can adjust ourselves with the current situation. If the market is difficult to analyze, we don't have to enter to the market but we can wait for a while and still watching the market move. We must hold ourselves and wait for the right time to trade while we can still analyze the market to find the time. With having the checklist, we can try to analyze one by one from the checklist and we will see the time to enter to the market. Maybe it is difficult to do but with practice, we will do that and will have a chance to make a profit. We don't have to afraid if what we do will fail because we still have more chances to do better things.

[Mr.sprin]

Having a trading checklist is necessary to start the research of the market situation so we can adjust ourselves with the current situation. If the market is difficult to analyze, we don't have to enter to the market but we can wait for a while and still watching the market move. We must hold ourselves and wait for the right time to trade while we can still analyze the market to find the time. With having the checklist, we can try to analyze one by one from the checklist and we will see the time to enter to the market. Maybe it is difficult to do but with practice, we will do that and will have a chance to make a profit. We don't have to afraid if what we do will fail because we still have more chances to do better things.

I think so too, bro, we can be wiser in taking future steps with a checklist. We can be more careful because we have our own monitoring as well as our own trading journey, whether it is profitable for us or whether we are making a loss, so there are other steps. What we can do to overcome the existing problems is that we can also quickly take steps to improve our market, at least we don't lose too much in the problems we are currently experiencing, while improving we can also take lessons for the future to be more careful and Be alert to bad markets.

[ethereumhunter]

I think so too, bro, we can be wiser in taking future steps with a checklist. We can be more careful because we have our own monitoring as well as our own trading journey, whether it is profitable for us or whether we are making a loss, so there are other steps. What we can do to overcome the existing problems is that we can also quickly take steps to improve our market, at least we don't lose too much in the problems we are currently experiencing, while improving we can also take lessons for the future to be more careful and Be alert to bad markets.

We can make a plan with that checklist so we can go with the right way and try to achieve one by one from the checklist. We can also see how good the progress that we do so we can see what happen after we run our plan. If something goes wrong, we can fix that by searching for the other ways so that will not disturb the other lists that we want to do. We can be more careful and aware of the market situation change so we can directly adapt with the current situation and know what step that we should make. We also not in rush in making a decision because we will makes many options with consideration of the risks behind of the decision. We learn to be wise in trading so we can keep calm down in any situation by always trying to figure out what happen to the market.

[fikrett]

I think so too, bro, we can be wiser in taking future steps with a checklist. We can be more careful because we have our own monitoring as well as our own trading journey, whether it is profitable for us or whether we are making a loss, so there are other steps. What we can do to overcome the existing problems is that we can also quickly take steps to improve our market, at least we don't lose too much in the problems we are currently experiencing, while improving we can also take lessons for the future to be more careful and Be alert to bad markets.

We can make a plan with that checklist so we can go with the right way and try to achieve one by one from the checklist. We can also see how good the progress that we do so we can see what happen after we run our plan. If something goes wrong, we can fix that by searching for the other ways so that will not disturb the other lists that we want to do. We can be more careful and aware of the market situation change so we can directly adapt with the current situation and know what step that we should make. We also not in rush in making a decision because we will makes many options with consideration of the risks behind of the decision. We learn to be wise in trading so we can keep calm down in any situation by always trying to figure out what happen to the market.

I totally agree. Check like that is a great idea and it's better yet to fill it with more ideas/points that would help the trader in the future. And continue to trade responsibly, that's the main thing that will help anyone, really.
No rush, only facts in front of you, no emotion to push you into something. It's hard, but it's possible.
Experience comes only with time and trial and error.

[passwordnow]

They're important. And that is because many traders are losing their grip when they're so emotional that they're forgetting that these guidelines are there for each of us to remember our main goal why we trade. It serves its purpose for giving every trader a reminder to focus on things that you have to look at and avoid being the drama king for each trades that we commit.

No rush, only facts in front of you, no emotion to push you into something. It's hard, but it's possible.

This is true, no rush because if you're going to trade at most times and you are worrying a lot. That only means that you're not ready and much better if you avoid trading and go back to the reasons why you have done these trades or why you are staying committed as a trader.