Practical trading worksheet
Forex trading plan checklist
A repeatable set of questions for researching a trade before placing it and reviewing what happened afterward.
This checklist is a discipline tool, not a trading signal. No checklist makes a leveraged trade safe or profitable. If a key answer is unknown, research it before risking funds.
1. State the setup and market context
Write the pair, session, direction and the specific observation behind the idea. Check whether a scheduled release or central-bank event could affect the pair. Record the source and date of any market claim; do not treat a delayed widget or social post as a live quote.
Research aids: trading sessions, economic calendar and currency strength.
2. Define the risk before the order
Record an entry approach, invalidation point, planned stop, maximum amount at risk and position-size assumption. Ask what happens if a stop fills worse than expected or if margin requirements change. Avoid increasing size merely to recover a loss.
Use the position-size calculator, risk management guide and order execution guide.
3. Check the provider and total cost
Confirm the account entity, product, order policy and country access. Note the live spread, commission, financing if held overnight, and any conversion charge. If these costs overwhelm the intended outcome, the scenario may not be worth taking.
4. Review the result and update the process
After the position closes, record planned versus actual entry and exit, costs, whether you followed your rules, and one lesson. Separate process quality from whether a single trade won or lost. Practise with a demo account checklist before exposing real funds.
Return to the resource center to continue your research.
