By and large, traders who take a slow and controlled approach to trading the markets make a lot more money over their lifetimes than traders who take a fast and emotional approach!
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New York, New York (PRWEB) January 15, 2014
It’s the New Year, and as far as the analysts and traders at Binary Options Experts are concerned, time for financial changing habits – preferably ones that will prevent traders and investors from losing their hard-earned greenbacks. In its recent blog posts, The Binary Options Experts gave way to enlightening new habits that should lead to positive results this year — both for seasoned and amateur traders. The new posts, which serve as a practical binary options guide, may be read on the trading consultancy firm’s website and watched on its YouTube channel.
One of the New York-based trading consultancy firm’s posts concerns the addiction to trading. According to The Binary Options Experts, “If you find it difficult to remove yourself from your computer after placing a trade or you are staying up until three in the morning watching every tick for or against your trade with frazzled nerves, you are probably addicted to trading!”
As with any other addiction, the road to overcoming it lies in admitting its existence. Once the addiction to trading is recognized, the leading trading firm says that accountability should be brought into the trade, which is anchored by the company’s unique “7 Pillars of Success.” The seven pillars are: Proper Preparation, Hard Work, Patience, Detailed Plan, Discipline, Communications, and finally, Review.
“When you apply these tools of accountability in your trading,” the blog post reads, “it helps you stay disciplined and helps to forge positive habits in your trading. Traders who gamble and who are addicted to the markets actually reinforce negative trading habits and thus it can be nearly impossible for them to turn their trading around.”
But whether it’s choosing to trade the somewhat less expensive and generally big rewards of one touch binary options or slightly profit limiting knock-out binary options, the Binary Options Experts emphasize that opting not to trade could also be a valuable position.
The binary options resource recommends, “Think of it like this: If you are addicted to the markets and are over-trading, you are going to have many more losing trades than you would have if you were disciplined enough to simply not trade when you knew you shouldn’t have. Just to get back to break even, you have to then hit enough winning trades to make up for all your losses. Whereas, if you simply had traded like a sniper and not a machine gunner, you could have avoided many losing trades and thus had a much more consistent and profitable equity curve.”
Both written and video posts from the Binary Options Experts additionally suggest following a plan along and using a journal to keep track of trades. Duane Cunningham, the VP for global operations of the trading consultancy firm, reinforced this advice in a video interview with Peak Performance Academy’s very successful member, John Tungseth, who credits most of his trading achievements (with 175 wins and 39 losses out of 214 trades last year) through changing bad habits.
Tungseth reveals, “It was March when I changed my bad habits of not doing a trading journal, of not writing down what I’m doing every day … not being patient enough, just trading off of gut feelings and not following a trading plan.”
In a separate blog post, The Binary Options Experts writes, “By and large, traders who take a slow and controlled approach to trading the markets make a lot more money over their lifetimes than traders who take a fast and emotional approach!”
Planning. Tracking. Following. Patience. The Binary Options Experts believes that each aspect plays a key role in helping traders and investors win more, and lose less. Tying all of these positive habits together is having access to knowledge, which the trading consultancy firm provides in abundance, through online resources, through its essential guide to binary options entitled “The Binary Options Profit Pipeline,” and through its numerous, exclusive mentorship programs.
To gain access to an expert binary options tutorial and get more information on how to win big this 2014, explore The Binary Options Experts’ website and get in touch with one of their traders and analysts today.