- Define risk as a percent or fixed currency cap.
- Measure stop distance in pips for the exact symbol.
- Confirm pip definition matches your platform.
- Choose account currency correctly.
- Verify contract/lot mapping.
- Re-check pip value at the computed size.
- Leave margin headroom for spreads and drawdown.
Run the numbers on the position size calculator and keep a screenshot in your journal if it helps discipline.
Turning the checklist into a habit loop
After each session, mark which checklist steps you skipped. Skips cluster around boredom and revenge trades—exactly when discipline pays the most.
Pairing checklist with screenshots
For larger size than usual, attach calculator screenshot plus chart screenshot to the journal entry. Future you will thank present you during audits.
- Version your checklist when rules change.
- Share the same checklist across devices you trade from.
- Review monthly skip rates, not only P&L.
When rules conflict
If margin says “yes” but macro calendar says “no,” your house rules should already define the winner—write that hierarchy down once.