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- What time frame will you be trading in? This establishes your needed screen time.
- What will be your specific entry signals? What price action or technical indicators will get you into a trade?
- What will be your specific exit signals after entry? Stop loss, trailing stop, or price target.
- How much are you willing to lose per trade?
- What risk/reward ratio are you looking for in your trading?
- What win percentage do you need to be profitable with your risk/reward ratio?
- What are the probabilities of a draw down with your win/loss probabilities and risk per trade?
- How many trades a month do you need ideally to hit your annual return goals?
- How much will your commission costs for your trading activity level be as a percentage of your account monthly?
- Do you have a trading system?
- Do you have a complete trading plan?
- Can you follow your plan and system with discipline?
