If you are living by rules, laws, or religion, you are NOT living by faith. Rules, laws and religion are about you and what you are doing, it is subjective. Those that are living by faith are living by what God has done in his Son Jesus Christ, it is objective (outside of us)
The object of our faith is always God and his Son Jesus Christ. It is not in ourselves who are sinners. Paul said,
"We don't preach ourselves, we preach Jesus Christ our Lord; and ourselves your servants for Jesus sake" 2 Corinthians 4:5.
There is no power in the law. The law cannot save, nor can the law produce obedience. What the law will do is cause you to sin and become a hypocrite.
"But sin taking occasion by the commandment, wrought in me all manner of concupiscence. FOR WITHOUT THE LAW SIN WAS DEAD" Romans 7:8.
If you are living by laws and rules you are not living according to the Gospel. In the Gospel Jesus fulfills the law for us and then abolishes it.
"Blotting out (abolishing) the handwriting of the ordinances (the law) that was against us, WHICH WAS CONTRARY TO US and took it out of the way by nailing it to his cross" Colossians 2:14.
It was contrary to us because no one could keep it or do it. It is not humanly possible to keep or to do the law. The law demands that you love your neighbor as yourself, Leviticus 19:18. This means that you should sell all that you have and give it to the poor, Matthew 19:21. The rich young ruler failed there and you will also fail there. To say that you are keeping the law when you are not, is to make yourself a hypocrite.
Christians are not called to live by rules and laws, we are called to live by the Spirit of Jesus Christ. To be led by the Spirit is to be led by the Gospel. The Gospel is the means by which we have been justified. Jesus, in our name and on our behalf, justifies us, Romans 3:26. Jesus in our name and on our behalf offers to God the Father a life of perfect obedience according to his Holy Law. It is this life and not our life that God accepts for our justification and salvation. God does not accept the works or the obedience of sinners. God only accepts the works and the obedience of Jesus Christ. This is why Paul said,
"That I might be found in him, NOT HAVING MY OWN RIGHTEOUSNESS WHICH IS OF THE LAW, but that which is through the faith of Christ, the righteousness WHICH IS OF GOD BY FAITH" Philippians 3:9.
There it is. Righteousness is not of the law. What the law does is it reveals sin, "For by the law is the knowledge of sin" Romans 3:20.and not righteousness. You should know that you cannot do or keep the law because the law is telling you that you are a sinner. To live thinking that you are keeping the law is to live as a hypocrite.