Why a checklist at all?
Pilots and surgeons use checklists not because they don't know their craft, but because pressure makes even experts skip a step. Trading under real-money pressure is exactly the same.
The checklist's real value is moving the decision from the emotional moment to the calm one: you wrote the rules while calm, and the list merely asks "are you following them right now?" It is the most practical cure for common mistakes like revenge trading and entering without a stop.
Why the risk items are decisive
The four red items (stop, size, ratio, daily limit) are the difference between an ordinary loss and a disaster. Note they are all measurable — no judgement calls:
- Stop set? Yes/no — stop-loss.
- Size calculated? Use the position-size calculator.
- Ratio ≥ 1.5? Compare target to stop — profit calculator.
- Daily limit? A number you wrote in your plan beforehand — risk management.