When you enter a trade, you usually already have an entry point in mind, a target you think the price might reach, and also a stop-loss level that marks the maximum loss you're willing to tolerate. That should be enough, but the truth is that in reality, we rarely follow it to the letter. It often happens that the trade starts to go in the right direction, and instead of closing where we had planned, we decide to move the take profit, believing the price will continue to rise even further. And what happens? Well, often the market reverses, taking the profits we had already secured, and what was a good trade ends in frustration or loss.

The same thing happens with the stop loss, only here the consequence is much worse. We place a limit to protect ourselves, but when the price approaches that level, instead of accepting the minimum loss, we lengthen the stop loss, hoping the market will agree with us. The result is often disastrous: ever-increasing losses, trades that turn into black holes, and accounts that end up at zero. It's not about being pessimistic, it's about being realistic: the market is merciless to our emotions, and if we don't follow the rules, we're likely to end up losing money, a lot of money.

The key is to understand that trading is not a game of revenge or a personal competition against the market. If my rule says I should only enter one trade a day, that's what I must follow, regardless of whether the trade was a winner or a loser. The problem is that when we lose, we are tempted to enter again to "recover what we lost," and when we win, we want to keep going because we believe we are invincible. In both cases, emotion rules, and when emotion rules, discipline disappears.

Sticking to a trading plan is not a frivolous recommendation; it is the only way to survive in this world of trading. The plan is there to protect us from ourselves, from our desire for more, from frustration, and from greed. It shouldn't be seen as a straitjacket, but as a lifeline that prevents us from sinking in the sea of impulses that the market evokes.

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So be very careful with what you do when you're in the market. If you've already set an entry point, a take profit, and a stop loss, let's stick to it. It's non-negotiable. The market will still be there tomorrow, the day after, and a year from now, but our capital won't, and if we lose it by not following the rules, all we'll be left with is the bitter feeling of having fallen victim to our own impatience, and I know this is very frustrating.

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