Why Can't You Just Stick to the Plan? Breaking Trading Rules 🤔

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Why do we struggle so much to stick to our trading rules? How do you break bad trading habits and follow your rules? Why can't i stick to my trading plan? We spend a lot of time cultivating our psychology mindset and planning our trades yet in the heat of the moment we still tend to become unruly and we start breaking rules. Why do we struggle so much? I think it all comes to our emotions; how we manage emotions is key to how we manage our trading rules. Acknowledge your emotional state like being scared but still behave in the planned manner. Let me know what helped you to stick to your trading rules? How do I stick to my trading strategy? OK.

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[entersadman]

Joining prop trading challenges actually helped me stick to my rules. Their ridiculous limits and targets makes me realize consistency in following your rules is the key rather than aiming to hit something big.

[alphd]

Big thing that helped me is asking the market to convince ME to enter. Not the other way round. So when a set up and building you say right market... convince me why I should risk my capital. This keeps you patient in waiting for the right moment to hit go

[KevinG]

Journaling to recognize these bad habits in the first place then I started to set alarms with rule reminders to keep me objective while market is open.

For ex:
"Trade only high quality sets ups, "
"3 trades max, "
"Choppy day?" And other alarms, specific to your rules based on what you need to improve on.

I set them to snooze 15-20 minutes to remind me throughout the trading session.

So far it has worked out pretty well recently to prevent over trading and rule breaking. Now just continue to follow your rules and take trades that align with your plan, planned risk and journal consistently.

Over a 2-3 month period, if you have good risk management and start small, you will see great improvement in your trading and also recognize the areas in which you need improve on.

[DavidSkerritt]

Another great video Mark. I use to have very strict rules for scalping. With 10 years in now there will be times where I'll either enter when one or more of my rules say don't, or I'll pass a trade even when all my rules align and everything on paper "looks good". I've got the experience where I can make those subjective decisions now partially based on my gut feeling. In my earlier years I didn't have enough experience to know when its O.K. to not follow very strict rules. So I think for newer traders, yes you need strict trading rules and never break them.

[youngog]

You really good at teaching and explaining trading pyschology😤🔥

[ANDROSTENEDIOL]

Excellent video Mark.

I'm stuck with my mind/emotions and I don't know how to deal with the situation.
After couple of unsuccessful attempts at trading I sort of gave up only to return a year later but this time I have used demo account for 5-6 weeks.
Hope was that along with back testing and a practice I will gain some confidence.

So after being in nice profit trading on demo account I have switched to real money (I still remember your video saying "switch as soon as you can to real money").

I'm back to where I was a year ago.
If first trade of the day is Loss - my mind immediatelly goes to from the past and unless I get the lost money back within minutes my whole day is gone and done. Immediatelly after I lose trade I'm in desperate mode to find another trade within 2-3 minutes or I know that I will slip down the slope and stop following any of the rules.

Month has gone and I'm in red again. Whole last week I was sitting on my hands getting signals and not having guts to take the trades.
After each signal I have managed to convince myself that this is another fake signal which will result in loss only to watch market going in my favor most of the time.

Holding the trade which goes in my favor is another uphill struggle as I keep saying myself 100's of times "don't be greedy and take it or you will have nothing".

Sorry for a long post and if anyone has any suggestion/s please respond.
I don't want to give up but I might not be emotionaly strong enough to trade with my money (I'm investing through shares/isa and have no problem to £5k in minus but when it comes to daytrading I just can't handle it).

Spreadbetting S&P 500 @ smallest possible bet £1/point (please don't laugh :) )

Thanks and good luck

[wisemonkeys]

Marry Christmas! Thanks for the video. Great tips :)

[peppercorn]

Thanks mark i love the vid this helps me with trading psychology

[jackgalloway]

Yeah some of my actions need psychoanalysis. Trade the plan!

[brikztv]

the channel is great for upcoming traders and season traders help me got funded keep up the good work

[nevernoone]

What helped you to stick to your trading rules?

[powerofchartlearning]

I'm big fan of you.i am from India. I trading in in India stock market

[ukspreadbetting]

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[theotothefuture]

"Fff-WHYY..." lol

Edit - Amazing insight. My take away is "acknowledge the fear". Dont fight it or sweep it under the rug like it doesnt exist, because it does exist and will sneak attack you if you pretend not to see it.

I wish there was a button that shocked me everytime I broke my rules.

[theblockcat-ain]

Thought it was just me. I can't stick to boiling eggs, right