Control Fear in Binary Options Trading
Almost every trader who has a real account, i.e. anyone who trades with real money account, eventually faces something that wasn’t there while they were trading on their demo accounts – stress. Hardly surprising because traders are people just like everybody else, and trading on the markets can cause a lot of stressful situations. The possibility of losing some money is stressful in and of itself, Because nobody likes to lose money in trading.
Fear and panic are responsible for more than 90% of unexperienced traders’ losses. They are mostly experienced when a trader makes a series of unsuccessful trades and is anxious to make up for lost ground immediately. This is the worst reaction a trader can have and this reaction is closely linked to the investment psychology. Remember, if you want to be a successful trader, you need to have a trading plan and stick to it.
The discipline strategy is to invest judiciously, methodically and to a plan without interfering with our feelings or emotions. For investments go well is important to keep away from us feelings like greed or fear, as they are an enemy that can harm us about way.
What should I do ?
- Start off by trading small amounts. If you have $10,000 in your trading account, $15 trades won’t make a huge impact upon your lifelong profit numbers. There is a steep learning curve here, and you want to minimize the ill effects as much as possible.
- If you want to start trading binary options like a professional trader , start using trading chatrs and analyze the market in order to pick the best price and time for enter a trade
- Do not risk more than you can afford.
- After a series of winning trades , Take a short break because now after you tasted the success you need to remember that you can also lose sometimes .
- “Revenge trading” commonly occurs after a trader experiences a loss, especially if it’s greater than what he could usually handle. When you are in this situation take off for a day or two from trading and come back when you calm.
- There is no need to trade way too much avoid from “over-trading” and trade only when your strategy requires it.