The trades I regret most aren’t the losers — they’re the ones I took without a plan.

I built this checklist after blowing a prop firm account by revenge trading on a day I hadn’t prepared for. Now these 5 items are non-negotiable before every session.

The 5 Items

1. Market Bias

Before the session opens, I decide: am I looking for longs, shorts, or both today? I check overnight direction, S&P 500 vs. NQ correlation, news events (FOMC, CPI), and previous day’s high/low/close.

If I can’t form a clear bias, I trade both directions with smaller size. The worst trades happen when you trade against a bias you didn’t bother to identify.

2. Key Levels

I mark 4–6 levels before the open:

  • PDH / PDL (Previous Day High / Low)
  • VWAP (Yesterday’s and developing)
  • Opening Range (first 15 min high/low)
  • Liquidity Zones (where volume clustered the previous day)

My setups only trigger at or near these levels.

3. Valid Setup Present?

Before I enter, I ask: “Is there a valid setup from my playbook?” My playbook has 4–5 defined setups with specific criteria. If price action doesn’t match any of them, I sit on my hands. This eliminates 80% of bad trades.

4. Volume / Momentum Confirmation

Even at a key level, I need confirmation: delta divergence, volume cluster at the level, or absorption (large orders holding). Without confirmation, I don’t trade.

5. Risk-Reward Acceptable?

Final check: Is there a logical stop placement? Is the target realistic? Is R:R at least 1:1? If I can’t define where I’m wrong, I don’t trade.

How I Score Myself

  • 5/5: Trade executed properly regardless of outcome.
  • 3–4/5: Mostly followed the plan. Review what I skipped.
  • 1–2/5: Impulsive trade. This data changes behavior.

Over 200+ trades: 71% win rate at 5/5 compliance vs. 43% at 1–2/5 compliance. The checklist isn’t discipline theater — it’s a proven edge.

Get This Checklist as a Template

Build this in MyTradeEdge Trading Plan. Every trade you log is automatically graded against your checklist.

Build Your Checklist — Free →

Examples from NQ trading. Your checklist should reflect your own strategy.