How to deal with failures in binary options trading
Losses in binary options trading are an integral part of trading. Losses should be calculated and should not be unexpected.
But sometimes, negative trades can put traders out of control.
If you have a streak of unsuccessful trades, and you are in an irritated state, here are some tips on how not to lose money on emotions:
1. Stop. first of all you have to STOP . You can’t trade when you are overwhelmed with emotions. Your goals and objectives are changing. Bidding should be rational.
In all books on trading financial instruments, it is forbidden to trade when you want, you need to trade when there is a signal for this. Do not try to trade at speed and earn a million in 2 seconds.
2. Analyze the history of your trades. This is the only way you can find where you had a mistake that was repeated all the time.
For a complete analysis of trading, it is best to record trades and also note why you made this decision.
3. Record conclusions. Create a list of your personal rules. The trading rules collected from your personal experience will be better remembered and you will understand what the meaning of this rule is.
4. Communicate with other traders – share experiences, this will give you new trading ideas. There are many forums where you can find a solution to your mistakes and get a lot of useful information.
5. Adjust your actions immediately. Test your findings and don’t repeat mistakes.
Any experience is an experience. Negative experiences can save you from mistakes if you learn from them.
In binary options trading, experience costs money.
