3 Things I Check Before Every Single Trade
Most retail traders lose money because they skip the boring stuff. Here's what I look at before entering any position:
1. Volume confirmation. Price moving on low volume is noise. I need to see above-average volume on the breakout candle or I'm not touching it. Period.
2. The daily chart first, always. I don't care what the 5-minute looks like if the daily is showing resistance overhead. Zoom out before you zoom in.
3. Risk/reward ratio. If I can't see at least 2:1 R/R with a clear stop-loss level, I pass. There's always another setup tomorrow.
These three filters alone have saved me from more bad trades than any indicator ever has.
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