We will go through some of the most important guidelines when it comes to trading and distractions. Many things can get out of the hands while you are trading or placing a trade. So make sure you check these 5 important tips as checklist before you start your daily trading routine, just in case! It is better to be prepared then to lose money and be sorry later. Take some time off trading if needed and then go back to it.
1. NOT ENOUGH SLEEP
Body is not enough rested because you have been partying last night and you want to back to trading in the morning but you feel you do not have enough energy. This is just one of the scenarious that could happen. Sleep deprivation and trading binary options is definitely not ok and you will make mistakes. This means that your brain is not energized, therefore it will not function properly and straight – so it is easier to get distracted. Get enough sleep and go back to trading fresh!
2. MORE AND MORE MONEY
Greed is good says Gekko in wall street movie. That might be true since you push yourself to work harder but that does not mean it is also a smart move. In real life it is better that you take profits then be greedy and the trade turns against you – trust me! Stay true to your strategy and rules and get disciplined since this is the only way you will be profitable in long run and that is what you want to achieve even if leave some money on table. It is always better to make something then nothing!
3. ANYTHING CAN HAPPEN
In trading, actually anything can happen in a matter of moments. So if you feel like you are a great trade, why not take the profits. on the other hand, it can happen that you get some surprise by Federal Open Market Committee since they decided to have meeting and therefore cut interest rates in United States. This is just one possible example but do not think it can not happen to you aswell. Be prepared is the key!
4. SMART FOOD
Your lifestyle impacts your trading aswell. You now know that if you are not fresh and have enough energy, you will most likely make mistakes. Therefore it is good that you have some smart food around yourself, atleast some fruits, energy bars or nuts. Some of you are coffee, tea or chocoloate enthusiasts – whatever it will help you be on the alert it is good but try to eat healthy because that is where your body will give you maximum results.
You need to have a clean enviroment as in outside on your desk as in inside on your computer. Clean your desk out of neccesery things and maybe threat yourself with some relaxing music, ambiental to calm yourself down during trading hours. Also clean your desktop and close all the software you do not need at the moment of trading, especially facebook and such. This will just help you to get more into the zone feeling and computer will run more smoothly.
Learn from these 5 important tips or you will learn them yourself the hard way through trading. To summarize, pay attention to what is happening on the market and do not be greedy and take profits when you can. Be fresh and energized and trade in a enviroment you feel good.