Discipline: the rules you do not break
What you learn in 3 minutesA written routine is the part of trading that stays the same every day, even when the market does not. This lesson gives you a five-point checklist to read before you place an order, and a short habit to keep after the session closes. On USD/INR, one pip on one standard lot is ₹10, so a small slip in position size is easy to see in rupees.
The five-point checklist on a USD/INR order
| Step | Amount | Note |
|---|---|---|
| Reason for the trade | Written in one line | If you cannot write it, the trade does not happen. |
| Entry and stop levels | 83.2500 entry, 83.2400 stop | Levels are chosen before the order, not after. |
| Distance to the stop | 10 pips | 83.2500 minus 83.2400, in pips on USD/INR. |
| Position size | 0.10 lots | One tenth of a standard lot. |
| Risk in rupees | ₹10 | 10 pips x ₹10 per pip x 0.10 lots = ₹10. |
The broker may round the pip value, add a spread, or charge a commission on top. Spreads and charges vary between brokers, so check the contract note for the exact figure.
The mistake people make here
The common mistake is to treat the checklist as a formality and fill it in after the order is placed. That turns a plan into an explanation. Write the five points first, and if any point is blank, skip the trade and wait for the next session. The routine only works when it is done in the same order every time.Check yourself
You plan to trade 0.20 lots on USD/INR with a stop 15 pips away. What is the risk in rupees?
15 pips x ₹10 per pip x 0.20 lots = ₹30.
Your checklist has four points filled in and the position size left blank. Do you place the order?
No. The size is what turns a stop into a rupee figure, so the order waits until the size is written.