Your First Trade Checklist
A step-by-step pre-trade checklist to help you execute your first trade confidently and safely.
On this page
Every experienced trader runs through a checklist before entering a trade. This routine removes emotion and ensures you're making objective, rule-based decisions.
Before You Enter
- 1Check the daily chart — are you trading with or against the trend?
- 2Identify key support and resistance levels on the 4H chart
- 3Confirm the signal entry price is still valid (within 1%)
- 4Calculate position size based on your maximum 2% risk
- 5Set your stop loss BEFORE entering the trade
- 6Set take profit targets (minimum 2:1 risk/reward)
- 7Confirm no major news events in the next few hours
Important
Never enter a trade without knowing your stop loss. "I'll set it later" is how traders lose accounts.
Placing the Trade
- 1Open your exchange (Binance/Bybit/OKX)
- 2Select the correct trading pair from the signal
- 3Choose futures or spot market as specified
- 4Set leverage to the recommended level or lower
- 5Enter position size in USDT based on your calculation
- 6Use a limit order at entry price or market order if price is within 0.5%
- 7Immediately place stop loss and take profit orders
After You Enter
- Do NOT watch the chart constantly — it leads to emotional exits
- Check 2–3 times per day maximum
- Never move your stop loss further from entry — only toward profit
- Let the trade reach TP1 before considering any action
- Record in your trading journal immediately
Tip
Set price alerts for your stop loss and TP levels so you don't need to watch the chart. Most exchanges have this built in.
Interactive Calculators
Position Size Calculator
Calculate risk-correct size for any trade
Risk Amount
$100.00
Position Size
$5000
Margin Needed
$1000.00
Formula: Risk Amount ÷ Stop Loss % = Position Size
Risk / Reward Calculator
Verify R:R before entering any trade
Risk / Reward Ratio
4.00:1
Excellent — take this trade
Risk
2.34% ($1500)
Reward
9.38% ($6000)
Min Win Rate Needed
20.0%
Verdict
VALID TRADE
Discussion3 comments
This is exactly what I needed. The 10-layer system makes sense — explains why the signal quality is so consistent.
The No-Trade Zone filters are genius. I've been burned by signals during news events so many times. Good to know there's a filter for that.
Session bonus makes a lot of sense. London/NY overlap is always the most liquid period. Low liquidity breakouts are notorious fakeouts.