If you’re feeling frustrated and losing money trading, don’t worry — this is a hurdle every trader faces at some point. Struggling doesn’t mean you’re failing; it’s part of the process. However, staying in a slump without making changes is not acceptable. I developed into an eight-figure trader, and today I’m sharing 8 essential trading rules to help you become profitable again.

Rule #1: Lower Your Size and Risk

Reduce your exposure. When you’re in a slump, trading smaller prevents significant losses and allows you to focus on execution. Smaller positions mean less stress and more clarity.

Rule #2: Be More Selective

Only take trades that align perfectly with your strategy. Focus on setups that feel like they’re falling into your lap. Patience and selectivity are key during periods of underperformance.

Rule #3: Shorten Your Timeframe

Shorter timeframes can help reduce randomness and external factors affecting your trades. For active traders, this often leads to more consistent results.

Rule #4: Don’t Do This Alone

Find accountability partners. Trading can be isolating, but sharing your struggles with teammates or mentors helps you stay grounded and motivated. Lean on your network for support, understanding, and feedback.

Rule #5: One Good Trade

Adopt the mantra: One good trade. Focus on executing just one successful trade at a time, and let that momentum build.

Rule #6: Daily Report Card

Track a specific area of improvement. For example, if your entries are sloppy, review them daily. Log your progress, and work intensively on one issue until it’s resolved.

Rule #7: Monitor Your Heart Rate

High anxiety leads to poor decisions. Use tools to monitor your heart rate in real-time. A calm and steady state ensures clearer thinking and better execution.

Rule #8: Develop and Share a Plan

Commit to a structured plan. Write down your best practices, solutions, and strategies. Share them with a mentor or teammate for accountability. This solidifies your commitment and provides clarity on your next steps.

Insights from the Best

Here’s what top traders and coaches suggest:

• Mark Douglas: Focus on your process
• Paul Tudor Jones: Cut losses quickly and step back
• Jesse Livermore: Wait for clear, high-probability opportunities
• Ray Dalio: Be radically transparent with yourself
• Dr. Brett Steenbarger: Develop new routines and adapt

Real Talk from Shark, an Eight-Figure Trader

Shark emphasizes the importance of stepping back after a large loss:

• Get out when in doubt
• Take a breather to reassess
• Trade smaller, focusing on booking green days to regain confidence

Final Thoughts

Struggles are inevitable, but overcoming them is what separates successful traders from the rest. Use these 8 rules to make the game easier and develop the resilience necessary for long-term profitability.

Train and trade well!