What do you do when you break your own rules?

Discussion in 'Psychology' started by paulr, Mar 3, 2003.

  1. paulr


    You know when you have broken one of your own trading rules or when you feel yourself going on tilt.

    What do you do to get back on track?
  2. Follow the rules ...
  3. maxpi


    Punish yourself you bad boy!!
  4. Whamo


    Stop trading that day, don't trade that day and the next, or don't trade for that week until you comprehend that you will be out of this business unless you follow the rules.
  5. ALICE


    I punish myself reading 777's humorless "humor".

    I haven't broken a rule in SIX WEEKS!

    Works for me.


  6. paulr,

    Do you know what could have caused you to break/ignore a trading rule?

    Sleepless prior night, distraction because someone was disturbing you, not properly prepared, too aggressive after missing the trade signal resulting in you chasing the price...

    really think hard to eliminate any possible issue that would cause you to break/ignore a trading rule.

    Many traders don't and will often let something small become chronic.

    If you are breaking/ignoring trading rules consistently...there could be something else going on that most likely that's not directly related
    to your trading.

    How do you get back on track?

    First...find out what's causing the problem.

    Next...come up with a plan to eliminate or decrease the chance of that problem from reappearing.

    If your lack of discipline only occurs with a particular trade setup or during a particular time period or whatever...

    being able to isolate that and then taking some time off from that particular situation can possibly allow you to regain that discipline.

    In other words...concentrate more on what you are doing well...put aside...avoid...the situation where your having problems for awhile.

    Hopes this helps.

  7. mgkrebs


    go out and treat myself to a new keyboard.
  8. gnome


    Change my rules so that my behavior is no longer breaking my rules. :D
  9. bone

    bone ET Sponsor

    Force yourself to read harrytrader's posts. And stay awake.
  10. I close out the position that I dont like (the one opened in violation of my rules) and start afresh. It makes me feel better.
    #10     Mar 3, 2003