An 8 Step Checklist Before Entering Any Trade:

A thread(🧵)... (1/18)

1. If the market is in a trading range or trending: Traders must know that if this happens, there's a higher probability of right #trades. Always remember, the trend is your best friend (2/18)
#Traders must also ask if the prices are in a strong trend and if they want to continue to move along with this trend. (3/18)
At times, Traders also choose to trade within a range. The #stocks keep on bouncing between the #Support and #Resistance. Using indicators like #RSI, CCI or Stochastics help here! (4/18)
2. Are there support/resistance levels nearby: Stocks tend to respect these levels and traders must identify both the support & the resistance.
A trader should not enter a #long position, for example, when the resistance is nearby. (5/18)
3. Do the Indicators confirm the Price Action: Every #trader must have 2-3 Indicators that complement their trading strategy and confirms the price action. (6/18)
However, the Indicators must be of different groups. For example, #momentum Indicators like RSI, and #volatility Indicators like Bollinger Bands. (7/18)
4. The risk-reward ratio: This is the number of pips the traders are willing to risk to reach their target. Traders must try to have a positive risk to reward ratio for every trade (8/18)
5. Can there be a significant economic relapse: Any such relapses might impact the trade. Any #economic news like #GDP, CPI, or any such data might act as a catalyst. (9/18)
6. How much capital is being risked: One must ask how much #capital are they willing to risk on a single #trade. Being too overconfident about one single trade and investing heavy capital in it can often lead to dangerous consequences. (10/18)
StockEdge helps you check such forthcoming events: https://t.co/dyMGHwpxUC (11/18)
7. The exit strategy if things don't go as planned: There must be a #backup plan if things go South. A Stop-Loss is a must. The stop loss levels can be traced using #Fibonacci of prior candlesticks! (12/18)
8. Is the Trading Plan followed properly: Traders tend to digress from their original plan when they are greedy for more #profits. At all costs, and must tick all your boxes in their checklist. (13/18)
Read the entire blog post here: https://t.co/k6Zq9LTd6h (14/18)
To sharpen your trading skills, you can enroll in these webinars at a 20% discount using code WEB20: https://t.co/qFjCKMZC4H (15/18)
1. Learn to time the markets, whether you're a positional, swing, or an #intraday trader! Join Ashish Kyal (@kyalashish) here👉🏻 https://t.co/77iVAshXXO (16/18)
2. Explore a unique combination of Price Action and the CPR Strategy with Shalom Martin in this Hindi Webinar:👉 https://t.co/UGJERbVwiB (17/18)
3. Build a rewarding portfolio for the future with the Stock Ranking System with Deepak Thakran (@indian_stockss )👉🏻 https://t.co/BFL708f56Y (18/18)

More from Screeners

You May Also Like

Knowledge & Bharat : Part V

The Curriculum of Vedic Education :
According to the Ancient Indian theory of education, the training of the mind & the process of thinking, are essential for the acquisition of knowledge.

#Thread


Vedic Education System delivered outstanding results.  These were an outcome of the context in which it functioned.  Understanding them is critical in the revival of such a system in modern times. 
The Shanthi Mantra spells out the context of the Vedic Education System.


It says:

ॐ सह नाववतु ।
सह नौ भुनक्तु ।
सह वीर्यं करवावहै ।
तेजस्वि नावधीतमस्तु मा विद्विषावहै ।
ॐ शान्तिः शान्तिः शान्तिः ॥

“Aum. May we both (the guru and disciples) together be protected. May we both be nourished and enriched. May we both bring our hands together and work

with great energy, strength and enthusiasm from the space of powerfulness. May our study and learning together illuminate both with a sharp, absolute light of higher intelligence. So be it.”

The students started the recitation of the Vedic hymns in early hours of morning.


The chanting of Mantras had been evolved into the form of a fine art. Special attention was paid to the correct pronunciation of words, Pada or even letters. The Vedic knowledge was imparted by the Guru or the teacher to the pupil through regulated and prescribed pronunciation,