Very often we hear that binary options trading is as easy as a piece of pie, but is it really? Is it the same as on demo, where you trade with the digital funds, not the real ones? All of the sudden pressure becomes too heavy and we feel more like fragile humans than trading pros.
If you want to become really good in trading, you need to learn how to control your emotions, because it can give you a lot of trouble, if market don’t go as you think it will.
There are around 10 stages of becoming a real trader, which can be slightly different depending on your personality and trading experience.
When you decide to enter the market, your decision is based on belief that this moment is perfect for trading. You feel almost certain that you know what will happen and it feels great. It is an “optimism” stage. Everything seems to be going smoothly and we are anticipating success, excited to see a positive outcome.
At that particular moment, we are starting to feel kind of smart, like a real trading expert and our critical judgement becomes overclouded. It’s hard to analyze the current situation clearly in this “smart” stage, however, it’s crucial to stay conscious to be able to stick to your risk management strategy and do not rush into unplanned trades.
When there first signs of the trade not going your way appear, we become nervous and worried. This is a start of “anxiety” stage, where we are starting to acknowledge that you can lose your investment and possible winnings and not really in control anymore.
The absence of control bring the “fear” stage in. Realisation that we’ve made a mistake starting to grow fast.
In the “panic” stage our emotions get control over our head, turning us into helpless children at the mercy of the market. Time keeps running out...
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