Trading Psychology: “I can’t pull the trigger”

trading-psychologyWhen it comes to binary options trading, we normally hear about over trading where a person trades a too much. This is usually driven by the desire to make quick and large profits. It is also influenced by poor psychology or emotional trading where a person wants to recover from a string of losses. However,on the other end of the divide lies a phenomenon known as “Not being able to pull the trigger.” This simply means that a person may have a good binary options strategy or opportunities butstill is not taking advantage of it. Thereby, he/she will be trading less than expected. Of course this leads to minimal gains.

What Causes People Not To Pull the Trigger in Binary Options Trading?

The following are some of the reasons that make people fear pulling the trigger:

– Fear: This is without-a-doubt one of the key reasons that hold people from executing more trades. This may be caused by a bad experience that shocked a trader, listening to too much heresy, or naturally being a risk-averse person.

– Lack of Confidence: To effectively trade binary options a person needs to have self-confidence. This means that he is bold enough to make a call while still expecting to make a profit and at time losses.

– Lack of Knowledge: A good number of people who engage in binary option trading do it without acquiring the right knowledge. They will think they are trading effectively but they are actually trading less.

How to Deal With Under-trading

The best way to trade binary options and enjoy its benefits is by dealing with the underlying issues that make you trade less. This is accomplished in the following ways:

– Learn The Ropes: A prospective trader must first learn about binary options strategy, market indicators, trade signals and other related issues. This knowledge helps him know when to trade more and when to trade less.

– Change Mindset: Many people take part in binary option trading with a fixed mindset which is may be to minimize the losses by trading less, or reduce the amount when the trade is not going their way. The best approach is to understand that making losses is part of the game and what you need is applying well-calculated binary options strategies.

– Start Small: Many a binary option trader would love to become an overnight millionaire. However, this is only possible in dreams and movies. The key secret to increasing the trades without fear is starting small. Rather than investing $200 when still a newbie think of $20.

With the right mindset: reducing fear, starting small and using good binary options strategies, trading will become much easier and more fulfilling. It also pays to deal with a quality broker who is experienced and has good reputation.

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