Trading Plan: Answer these 3 questions before opening a position to filter out 80% of impulsive trades

📝 Every time you’re about to open a position, force yourself to stop and write down these 3 questions on paper (or in a notes app):
1. Why am I opening a position at this level? (Must have clear technical or logical support)
2. If I’m wrong, where is my stop-loss? Is the loss amount I can accept? (If the loss amount keeps you from sleeping, your position size is too large)
3. If I’m right, where is my take-profit target? Is the risk-reward worth it? (Trades with a reward-to-risk below 1:2 aren’t worth doing)
If you can’t answer these 3 questions, or your answers are vague, don’t open the position.
💡 Today’s quote: Plan your trades, and trade your plan. Opening a position without a plan is gambling.
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