Every SwipeX trader runs this liftoff checklist before lighting up a new perp rotation. It’s a 10-minute ritual that keeps entries disciplined, sizes sane, and exits pre-armed. Print it, macro it, and don’t skip it.
1) Risk budget in 30 seconds
- Daily loss brake hit? → No trade.
- Per-trade risk set? (0.5–1.0% normal, 0.25–0.5% on high-vol days).
- Drawdown guardrails? (halve size after -6% to -8% week-to-date).
2) Liquidity and spreads
- Compare taker fees + rebates across target venues.
- Simulate closing 4× intended size; if projected slippage > 35 bps, the idea dies.
- Ensure funding spread between top venues is narrower than expected edge.
- Check order book depth; avoid thin books during news.
3) Volatility envelope
We pull the last seven days of realized vol and overlay a dynamic ATR band. Entries are allowed only when:
- Current 1h realized vol < 1.2 × 7d realized vol.
- Order book imbalance < 60% on either side.
- The desk wide VAR impact stays under the threshold the risk team broadcasts each morning.
4) Sizing and leverage sanity
- Size = risk % ÷ stop distance; never size off “feel.”
- Leverage cap per venue; avoid max-leverage on thin perps.
- If stop must be wide, shrink size; don’t widen stops post-fill.
5) Kill switches
Set these before entry; they auto-apply to the trade and the session.
| Switch | Trigger | Action |
|---|---|---|
| Circuit | Unrealized loss = 0.8 × planned loss | Flatten position, pause bot |
| Liquidity | Venue depth drops 40% intrablock | Route exit through second venue |
| Ops | More than 2 disconnections per hour | Halt automation, manual review |
6) Latency and venue health
- Round-trip latency within normal bands? If spiking, cut size or switch venue.
- Recent rejects or throttling? If yes, avoid scaling the position there.
- TTL on the setup: if stale, request a fresh card—don’t chase.
7) Entry structure
- Stop placed outside local chop; not inside wicks.
- Target offers ≥ 1.5–2.0× RR; otherwise size is small or skip.
- Correlation check: Are you already long the same beta elsewhere? Treat as one idea.
8) Communication packet (stated before entry)
Before the first clip hits the book we ship telemetry to Slack + Notion:
- Thesis in 2 sentences.
- Playbook (scalp, carry, basis, mean reversion, etc.).
- Primary + backup venue.
- Alert thresholds for PnL, latency, and gas.
Whenever a trade violates a rule the automation tags it flight-check-breach, giving the research pod clean data for weekly reviews.
9) After-entry rules (hands off unless structure breaks)
- No moving stops wider. Ever.
- If funding or spreads blow out 2× normal, trim or exit; don’t hope.
- If two SLs hit back-to-back, half size the next idea or pause for the session.
10) Post-trade receipt (2 minutes)
- TP / SL / Manual / Expired.
- Was stop outside noise? Y/N.
- Was size within risk rule? Y/N.
- State: Calm / Rushed / Tired.
- Would you take it again? If no, what changes?
Run this liftoff checklist every session. It’s faster than repairing a blown account.