(1) Your trading plan should have the following locked in!

https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> Main Criteria
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> High Probability Criteria
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> Filters
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> Risk Management

(2) Main Criteria

This is the compulsory checklist, what do you have to have in order to even consider looking at it?

It could be certain technicals like

https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> EMA Rejection
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> Pinbar or Engulfing
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> Fibonacci
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> Trendline

(3) High Probability Criteria

What makes your trade have a higher chance of working? It could be things like

Structure, Psy Levels, Timeframe Confluence, Divergence, Currency Strength or even Fundamentals

For me, I always have at least 2 of these in order to have a valid setup

(4) Filters

These are things to check to avoid any potential dangers or lowering the potential for example

https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> News- Do not trade if within 10 candles of a major news event

https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> Risk/Reward- Has to be 3R potential

https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> Fibonacci- No less than 0.618

(5) Risk Management

This is very important before going into a trade you should know. What is your

https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> Risk per trade? e.g 1%
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> Max Exposure? e.g 6%
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> Stop Loss placement? Must be above previous high
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> Exit: Set & Forget? or if retraces a certain %?
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts"> Management? Trail SL?

(6) Hopefully, you can understand the importance of having a trading plan.

You need to define and have solid rules & stipulations written up before you even attempt to trade the markets.

This is why so many fail, simply because they fail to plan.

(7) The best investment you can make right now is creating a trading plan.

Write out your plan today and thank me later.

Hopefully, you have enjoyed this thread and more importantly have gone away and learnt something.

(8) If you liked this tweet, retweet the first one so other people can read it.

Thank you for reading!

All the best & happy trading!