A pre-market checklist reduces the number of decisions you must make while prices are moving. It turns your limits, setups and stop conditions into a written plan before the session begins.
This checklist does not predict the market. It helps you prepare your own trading process.
1. Check the account and broker connection
Confirm that you are looking at the correct trading account. Check the available capital, open positions and pending orders. If you use a connected trading tool, confirm that the broker login and required connection are active.
Do not discover an old open order only after placing the first new trade.
2. Set the daily loss and trade limits
Write down:
- maximum daily loss;
- maximum number of entries;
- last time for a new entry;
- what happens when each limit is reached.
Make sure the maximum risk for one position fits inside the daily loss limit. Read how to set a daily loss limit for a practical method.
3. Record planned setups and important levels
List only the setups you are prepared to take. Add the important chart levels and the condition that confirms an entry.
For each planned setup, note:
- symbol;
- direction;
- entry condition;
- stop-loss;
- target or exit method;
- reason the setup becomes invalid.
The list makes it easier to recognise a trade that was never part of the morning plan.
4. Note market and expiry events
Check whether the session includes an expiry, major scheduled announcement or another event that changes your normal plan. Decide whether you will reduce size, stop earlier or avoid a period completely.
This is a preparation step. It is not a prediction of how price will move.
5. Decide the position-size rule
Choose the quantity method before entry. You may use fixed lots, a percentage of capital or a fixed rupee risk.
Record the maximum quantity. If scaling is allowed, write down each planned addition and the final maximum exposure. Read why adding to a losing position increases risk before using an averaging plan.
6. Define the conditions that stop trading
Your plan should say when the session ends. Possible conditions include:
- daily loss limit reached;
- maximum entries used;
- several losses in a row;
- broker or data connection becomes unreliable;
- you are no longer following the written setups.
Also decide the cool-off duration after consecutive losses. See how to reduce revenge trading for a simple pause rule.
7. Keep the plan available during the session
Do not place the checklist in a notebook you will not open again. Keep it beside the chart. Review it before every new entry.
Zensibly's Daily Analysis Checklist can keep checklist items, notes and chart images together. It helps you record and review the plan. It does not assess a setup, predict the market or provide investment advice.
You can compare Zensibly plans to see which plans include the Daily Analysis Checklist.
Copy this short checklist
- Correct account and broker connection checked
- Open positions and orders checked
- Daily loss limit written
- Maximum entries written
- Entry cut-off time written
- Planned setups and levels recorded
- Position size and maximum quantity decided
- Cool-off and stop conditions decided
Preparation cannot remove trading risk. It can make the difference between a decision you planned and one you made under pressure.
Next, read how to follow trading rules during market hours and how to stop overtrading.