Reality Check in Binary Options


One question that new binary options traders ask a lot is, “Why do I do better at

paper trading than I do when I trade with real money?” The answer is easy.

Fear, doubt, complacency, greed, anxiety, excitement, and false pride can

all interfere with rational and intellectual thoughts. When dealing with real

money, you are faced with the realization that you and your money can actually be separated. Try not to get into the buyer’s remorse syndrome. That’s when you buy

a specific product and are still price shopping six months later to make absolutely sure that you got the best deal in town. That is another situation that creates negative emotions and you need to guard against it. Most binary options traders know the saying, “Any profit is a good profit, no matter how small.” It is hard for binary options traders not to look back, but you always have to think positive and be grateful that you picked the right market and did make some money. You should also feel confident and comfortable knowing that your system, method, or

skills may allow you the opportunity to do it again. A hindsight binary option trading is easy; being a mature, professional, and optimistic binary options trader is hard. Take a look at the market from a distance on the sidelines. Some binary options traders like to watch and wait; others will hope things change. The better or more experienced trader will simply get out. Sometimes this simple approach will save you from losses and give you a better time to reenter the market. Maybe you can identify with problems such as “Greed and the undisciplined trader” or “I’m-scared-so-I’ll-think-about-it trader.” I associate greed with the trader or investor who desperately wants to trade to make a quick buck. This type of trader personality profile is certain to realize failure when trading. Such traders have no discipline, acting on any rumor, story, or so called hot tip. They are checking research web sites and jumping from one

source to another to search for the winning trade. There is a common denominator with this type of binary options trader: They constantly do the same thing over and over and over again, generally resulting in losses.

There is an old definition for insanity: repeating the same actions and expecting a different outcome each time.

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