Beginner Trader’s Ultimate Checklist – What You Must Know Before Placing a Trade

✅ The Ultimate Trading Checklist for Beginners

1️⃣ Learn Market Basics

• Understand how stocks, forex, and crypto markets operate.
• Know key trading instruments: Options, Futures, Spot Trading, CFDs, etc.
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2️⃣ Choose a Trading Strategy

• Select a proven strategy (Price Action, Smart Money Concepts, ICT, etc.).
• Backtest your strategy to see how it performs in different market conditions.
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3️⃣ Develop a Risk Management Plan

• Never risk more than 1-2% per trade.
• Use a 1:3 risk-reward ratio (risk 100 to make 300).
• Always set stop-loss and take-profit levels.
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4️⃣ Understand Trading Psychology

• Control your emotions (fear, greed, revenge trading).
• Accept losses as part of the process and stick to your strategy.
• Keep a trading journal to track mistakes and improve.
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5️⃣ Learn Technical & Fundamental Analysis

• Study chart patterns, candlesticks, and support/resistance levels.
• Understand economic news, earnings reports, and global events.
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6️⃣ Practice on a Demo Account First

• NEVER trade real money until you're consistently profitable on a demo.
• Test strategies in real market conditions without risking capital.
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7️⃣ Have a Daily Routine & Plan

• Know when to trade (market hours matter).
• Avoid overtrading—one or two quality trades are better than ten bad ones.
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8️⃣ Accept That Trading Is Not a Get-Rich-Quick Scheme

• If you're expecting overnight riches, this isn’t for you.
• Trading is a skill that requires time, education, and discipline.

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