It seems that all traders must have experienced difficulty following trading plan with discipline. There is just the temptation to change the trading plan halfway through, without thinking about the consequences carefully.

Trading plan is one of the essential components in forex and commodity trading. With a trading plan, you can trade with more direction, have a target, and be more disciplined.

If you often have difficulty following trading plan that you have created, you need to find out why, so that this does not continue and cause unplanned losses, even overtrading. What are the factors that cause difficulty in following your plan?

Emotions is One of the Reasons for Difficulty Following Trading Plan

Professional traders must have had thorough preparation before entering the market, including planning when to enter the market, what are the triggers for entering the market, where are the important price levels, and so on.

On the other hand, most novice traders are still getting used to this planning. In fact, many novice traders enter the market without preparation, so they end up trading relying on emotion.

One example of trading with emotions is when you open a buy order and you are currently in a profit position because the price moves up, but then the price moves down so that your position turns into a loss.

If you are not ready to face this high volatility, you may panic when you are losing and immediately impulsively close your order in a loss condition, or cut loss.

With Stop Loss, you can still tolerate losses to a certain extent, so that you don't carelessly close orders when there is a floating loss or a loss on an open order.

If you still experience things like the ones above, it's a good idea to take a break from live trading first. Use a demo account from the Didimax forex broker to retrain your discipline in following the trading plan that has been made.

Less Than Optimal Trading Plan

If you don’t find difficulty following trading plan, have never been trapped in emotional trading decisions, but the results are still unsatisfactory, it could be that the problem is with the trading plan you created.

Try checking again, does your trading plan already have all the components in full? The things that must be in your trading plan are the amount of capital, the risk limit per transaction, the target profit per transaction, and the products that you will trade.

Then you need to determine the number of lots you will trade, the entry-level or entry price, as well as Stop Loss and Take Profit according to your limit and target.

Also, make sure the risk limit is within your tolerance and set a profit target that makes sense. You can use the Risk-to-Reward Ratio to determine these two components.

We recommend that you use a minimum RRR of 1: 2, which means that your profit target is twice the risk limit, so that you can still profit even though your winning rate tends to be low.

Basically, you will not be able to follow a trading plan discipline if the trading plan does not suit you. Because of this, the trading plan is unique and you have to be confident about your trading plan.

Even if you have a mentor or discussion partner at the best forex broker, in making a trading plan, all decisions must go back to your own preferences.

By creating a trading plan that fits your tolerance limits and personal targets, it will be easier for you to instill discipline in transactions, so you can achieve better profit potential. This way, you won’t find difficulty following trading plan.