Build a Pre-Market Checklist You'll Actually Use
The best trading days are decided before the open. A short, repeatable routine that turns a noisy morning into a clear plan.
Pilots run a checklist before every flight, even after ten thousand hours in the air. Not because they forget how to fly, but because a checklist removes the chance of skipping something important when they are tired, rushed or overconfident.
Trading mornings are exactly that: rushed, noisy and full of temptation. A pre-market checklist keeps you on the plan.
Keep it short
A checklist you skip is worse than no checklist. Aim for something you can finish in 15–20 minutes. If it takes an hour, you will abandon it within a week.
The checklist
1. Check yourself first
- Did I sleep? Am I distracted, sick or upset?
- Am I still carrying yesterday’s loss (or win)?
If the answer is “not great,” cut your size in half or sit out the first hour. Your state is a market condition too.
2. Read the backdrop
- Where are the major indexes relative to yesterday’s high and low?
- Any scheduled events today: economic data, central bank speakers, big earnings?
- Is the market trending or chopping this week?
You are not predicting. You are deciding which playbook fits today.
3. Build a short watchlist
Three to five names, maximum. For each one, write down:
| Field | Example |
|---|---|
| Why it’s in play | Earnings gap, sector news, key level |
| Key levels | Prior day high/low, pre-market high/low |
| Setup you want | Breakout and hold, pullback to level |
| Invalidation | The price that proves you wrong |
If you can’t fill in every field, it’s not a trade. It’s a hope.
4. Pre-commit your risk
- Max loss for the day (e.g. 2–3R or a fixed dollar amount)
- Max number of trades
- Position size per setup, calculated now, not mid-trade
5. One line of intent
Write one sentence about how you want to trade today. For example: “Only A+ setups at my levels, no chasing the first five minutes.” Reading it at 10:30 when you are itching to force a trade is surprisingly effective.
Review it after the close
The checklist only gets better if you close the loop. After the session, spend five minutes asking:
- Did I follow the plan?
- Which trade broke a rule, and why?
- What one thing changes tomorrow?
Process over outcome. A losing day where you followed the plan is a good day. A winning day where you broke every rule is a warning.