PURPLEDGE / THE TRADE PLAN
A plan. Before you click.
A learning worksheet. Fill in the fields before examining a trade. The sheet holds no entry recommendation and no promise of a result.
Date / asset / platform_______________________________
What am I checking on the chart?_______________________________
Entry________________
Stop________________
Target________________
Sample risk budget________________
Quantity / planned risk / ratio_______________________________
Before the decision
□ I checked the entry price and the stop distance.
□ I worked out the quantity from the contract's point value.
□ I checked fees, slippage and margin requirements separately.
□ I understand that the planned ratio is not a chance of success.
□ I know what would make me drop the idea.
After the practice
What went to plan? _______________________________________
What will I check differently next time? __________________________________
MNQ example: point value $2, tick 0.25. Quantity rounded down. The actual risk may exceed the plan. A learning illustration; not investment advice.
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