According to @QCompounding, Charlie Munger’s quote underscores that disciplined operators rely on checklists, signaling that traders should formalize pre-trade and post-trade processes to reduce execution errors and behavioral biases; source: @QCompounding (Nov 11, 2025). Applying this principle to trading means verifying a clear thesis and timeframe, defined entry and invalidation, position sizing, risk-reward threshold, liquidity and slippage checks, and an execution plan before placing orders to improve consistency in volatile markets; source: @QCompounding. For crypto specifically, incorporating a checklist step for exchange counterparty risk, market structure context (funding rates, open interest), and event risk (macro releases, network upgrades) can help manage drawdowns and slippage during high-volatility sessions; source: @QCompounding.