Mental Flexibility vs. Sticking to Trading Plans: Which is Correct? -#AnirudhSethi

Both mental flexibility and sticking to a trading plan are important for success as a trader. Mental flexibility allows a trader to adapt to changing market conditions and to make quick decisions when necessary. However, without a solid trading plan, a trader may be unable to make consistent, well-informed decisions. On the other hand, sticking to a trading plan can help a trader stay disciplined and avoid impulsive decisions, but if the plan is not flexible and does not take into account changing market conditions, it can also lead to poor performance.

It is important for traders to strike a balance between the two by having a well-thought-out trading plan that is regularly reviewed and updated as necessary, while also remaining open to adjusting or even abandoning the plan in response to significant changes in the market.

In short, having a trading plan is essential but being able to adapt the plan in response to market changes is also important. A trading plan should be a guide, not a rule set in stone.

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