1 Why this matters
Context before action
A fixed pre-trade routine converts a trade from an impulse into a decision.
Mike Bellafiore's PlayBook framework distills the read into five decision lenses, checked in order. Running the same five every time forces context before action — and most poor trades fail at least one lens, which a checklist catches before the entry, not after the loss.
2 The five lenses
Checked in order, every time
- 1Big Picture. The broad market environment and trend — are you with it or against it?
- 2Intraday Fundamentals. The catalyst or news driving this stock right now.
- 3Technicals. The chart, the levels, and multi-timeframe structure.
- 4Tape Reading. The live order flow confirming or denying the move.
- 5Intuition. The pattern-recognition that develops only after real screen time and review.
3 Using the routine
One checklist, every trade
Before any entry, run the five lenses out loud or on paper. If a setup fails a lens — a clean chart with no catalyst, or strong opposing tape — you either pass or size down. The goal is not to predict; it is to ensure context always precedes action. Pair this with the intraday playbooks: the playbook tells you what the setup is; the five lenses tell you whether to take it now.