Pre-trade checklist: can I trade today?
Seven questions before the first trade, a fixed rule for each answer, and one call: full size, reduced or not at all.
Short answer
A pre-trade checklist is a short set of questions you answer before the first trade of the day, with a fixed rule for what each answer means. This one is the “Can I trade today?” check from Edgetrail: sleep, energy, calm, a clear plan, the urge to win back losses, upcoming news and the market picture, plus your own questions – and it ends in one of three calls: full size, reduced, or no trading today. Print it, or download it as Markdown or as a CSV log.
The questions and what each answer means
| Question | No trading today | Reduced | Fine |
|---|---|---|---|
| Sleep (hours) | under 5 | 5 to under 7 | 7 or more |
| Energy (1 = drained, 5 = fresh) | 1 | 2 | 3 to 5 |
| Calm (1 = stressed, 5 = calm) | 1 or 2 | 3 | 4 or 5 |
| Clear plan? | – | no | yes |
| Trying to win back losses? | yes | – | no |
| High-impact news soon? | – | yes | no |
| Market picture | – | choppy or news-driven | clear or range |
| Your own questions | – | answer differs from the good one | answer matches |
The rule: if anything in “No trading today” applies, the call is no trading today; otherwise, if anything in “Reduced” applies, the call is reduced; otherwise full size. These are Edgetrail’s defaults, not scientific thresholds and not investment advice.
Download and print
Download the checklist (Markdown) – the table above plus a short list for every single trade, ready to print. The CSV button above is a daily log with one column per question, so you can see over weeks how often you traded tired or in revenge mode. The example row in it is an illustration.
Before every single trade
- The setup belongs to one of your systems, and entry, stop and target are set as the system says.
- You know when you would exit early.
- The size comes from your risk and the stop distance, including fees – the position size calculator does that.
- Today’s maximum trades and maximum loss are not reached.
- In a prop firm challenge: the room left today is larger than this trade’s risk plus a buffer – see how to pass a prop firm challenge.
How the check works in Edgetrail
In the app the check sits at the top of the morning analysis under Daily Analysis. As you answer, Edgetrail shows its suggestion with the reason – “Rested, calm, clear plan”, “Something’s a bit off – smaller size, fewer trades” or “Too tired, too wound up or in win-it-back mode” – and you pick your own decision next to it. You can add your own yes/no questions with the answer that counts as good; one wrong answer makes the suggestion at least “Reduced”. At night the end of day review shows the morning call next to your results. It is part of the daily routine, together with the trading plan.
Updated:
Frequently asked questions
What should be on a pre-trade checklist?
Questions about your state (sleep, energy, calm), your plan (is it clear, are you trying to win back losses) and the market (news soon, choppy or clear), each with a fixed rule for the answer – plus a short check for every single trade.
Why does a checklist help?
It turns a vague feeling into a decision made before the first trade, when you are still calm, and leaves a record you can compare with your results later.
Can I change the questions?
Yes. The printed version has room for your own questions, and in Edgetrail you can add custom yes/no questions with the answer that counts as good.
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