How can a simple lesson from the Maritime Academy change your attitude towards trade?
Binary options trading requires special skills. In this article, you will learn how the speech of one admiral influenced the worldview of Boris Schlossberg, a strategist at one of the world’s largest market makers (New York), specializing in stocks, futures and other assets. The conclusions that Schlossberg made for a long time were known only to his close students. Now you can find out about them.
Traveling to Texas
The events took place during a meeting organized by a local university. One of the speakers was Admiral William McRaven, who told students about life at the Naval Academy.
He began by asking the audience if they knew what the first skill was taught to all cadets. Before listening to the answers, he stressed that all the local instructors are veterans of the Vietnam War, who have been in numerous battles. When the whole hall ran out of options, the admiral said: first of all, all cadets must make their beds correctly. Then he added:
the bedspread should be as stretched as possible; extra blanket properly packed; The pillow should acquire a triangular shape and be located strictly in the center.
Seeing the shocked faces, William McRaven began to explain his thought. Initially, refueling the bed according to the instructions of the navy seems to be an extremely simple procedure that any civilian can handle. However, if an extreme situation arises or it is necessary to act in conditions of limited time, then only a cadet who practiced this skill every morning will complete the task without loss of quality. Minor things make a big difference. If you learn to pay due attention to them, work out the skill to automatism, then in battle you will have no equal. And it all started with making the bed …
Thus concluded the speech of Admiral William McRaven.
Six months later
About 6 months after the trip to Texas, a student came to Boris Schlossberg with a problem. Trading on the pound/dollar pair, he lost more than 20% of his deposit.
Boris understood that the young man did not make a gross mistake and became a victim of an unexpected publication of fundamental events. However, any words of approval would not have helped. Moreover, in the future, they could cause even greater losses. By chance, he remembered the lesson of a wise admiral, and he offered this novice binary options trader the following exercise:
- set the minimum rate that the broker allows;
- open only 10 trades daily during the month;
- In one of the weeks, achieve the following goal:
- close at least 7 profitable trades daily.
Like a lot of good advice, this idea came about spontaneously. The effect was incredible. This trader had only 4 days for the whole month, in which he closed less than 7 profitable positions. Here is his report:
- number of working days: 24;
- number of trades per day: 10;
Bet: $1; days in which 7 (or more) positions were closed with a plus: 20; number of unprofitable days: 4; Monthly yield: 83%.
The following month, Boris Schlossberg repeated the experiment, but with an increased minimum rate ($1,000). Surprisingly, the result has not changed much. Conclusions
We all have a more flexible mindset than we realize.
Having a difficult but clearly articulated goal is the best defense against self-pity. The realization of even the most insignificant task raises self-esteem much higher than any theoretical introspection. These tips have allowed hundreds of users who have failed in the past to try their hand at trading again.
So, you are taking your first steps in the binary market or have already managed to be disappointed. Do not give up and do the following: see which binary options brokers offer favorable terms of cooperation. Here are some good companies: utrader, Binomo, OptionBit, Binarium (see more options
here
);
- choose a profitable strategy;
- set a minimum task (for example, increase the deposit by 40% every month);
- develop a step-by-step plan for the implementation of your plans (be sure to take into account all the nuances that can affect the final figures);
- Go ahead and enjoy the process.
The information you now possess has helped hundreds of people reconsider their attitude towards trading in the financial markets. Don’t expect a miracle. Tune in to productive work and do not stop until the minimum task is realized.
P.S. Friends, share your opinion about Boris Schlossberg’s experiment in the comments.
Tagged with: Binary Options Academy • The Psychology of Binary Options Trading
