A lot of beginners go live with a clear idea of what they want to make and only a vague idea of what they are willing to lose. A quick self-check before the first real order:
1. What is the maximum percentage of the account you will risk on one trade?
2. Where is the stop, and what price or event would prove the idea wrong?
3. What is your daily loss limit, and what do you do when you hit it?
4. Do you know the pip value in your account currency for the size you are about to trade?
5. Is there a high-impact release in the next few hours?
If any of these is a blank, the trade is not ready, however good the chart looks.
Which of the five do you find hardest to answer in advance, and what has helped you make it concrete? Beginners and experienced traders both welcome. Education only, not advice.
Before you place your first live trade: what does your written plan say?
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