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bsbZen

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bsbZen
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  • Re: Things one should avoid while trading

    Most of the traders couldnt handle their emotions. So they are going to martingale or taking too much trades till it goes in the right way also called as ''over trading'' which you should try to avoid that.

    Why are people attracted to this?

    The answer is simple, it is in our mind and brains.

    - Winning trades releases Adrenaline and Dopamine.. This gives you extra confidence. This is a feeling you like and your body gets addicted to so you fight next time to win again and again. But the market will defeat you sometimes and this is where it gets dangerous. So be aware of that please.

    - Losing trades releases Cortisol. Especially in situations with high stress. Executive functions that help you with advanced thought processes like strategies, shut down. And the Amygdala, our instinctive brain, takes over. This is known as a ‘’Amygdala Hijack’’ The body makes a chemical choice about how best to protect itself. In this case from the shame and loss of power associated with being wrong and as a result is unable to regulate its emotions or handle the gaps between expectations and reality. This makes you over trade or martingale and destroy your account. So you have to stop yourself from an ‘’Amygdala Hijack’’.

    Mine advise would be: Set your manual stoploss at around 2 per day or session. Understand that if you hit your stoploss early, the market are not conducive to your strategy and you will lose more if you continue. Your emotions paralyze you and your biggest enemy. The goal is to slowly desensitize yourself to wins and losses.

    For example: 1 win per day is 22 wins per month. So focus at first on 1-2 trades per day and by end of month its many wins. Low volume, high itm trading.

    Hopefully this will helps you more with trading.

    Greetings,

    BSB Zen.

    Blueskybinary.com
  • Re: Should You Use Martingale In Binary Options?

    Martingale is quite an interesting strategy and one should be very careful with it. If losing your deposit can hit hard on your wallet and you're not big on spending money, I wouldn't recommend risking like that, because it can lead to a deposit drain, but if you're enthusiastic and you've got money that you don't mind losing, figuratively speaking, then it's worth a try, perhaps everything will work out and you will seriously increase your deposit.
    Hi Malvrid,

    Yes its all an mindset game, but martingale is still very risky to use even if you can spend a lot of money. You should use an proper money management and getting familiar with the ''trade splitting'' theory which is very usefull to use. Another thing is with martingaling you will most likely go in over-trading by taking too much trades and too big trade sizes and that you will get emotionally frustrated and your emotions take over control and you will blow up your account.
  • Re: Finding It hard to get started.

    hello, I'm new into binary options trading and would like to be part of a community where we can share our knowledge and opinions
    Hello On64,

    if you would like to start trading binary options, then you could try us out. We are one of the prominent financial education providers in binary options and have been around for a while. You can read around the web about us. You get access to a range of software and education. You have a 7 day free trial and can test if we are right for you, without any risk.

    More information here http://www.blueskybinary.com/options-university.html

    Kind Regards,

    BSB Zen
  • Education Very Important

    Hello everyone!

    In my opinion education is very important because it will allow us to trade with the maximum. It is definitely number one requirement for all and without that it is going to be impossible for anyone to be successful. With a solid education, you are prepared to make informed trading decisions instead of impulsive ones that can often lead to major account disasters. knowledge is really important in this market place for keeping survive in a proper way. So please invest in yourself by building your own knowledge about the market conditions and your own analyses or strategies.

    Many people wanna earn as fast as they can, but that isnt possible. Its like starting with a new sport and after a few days you will playing your first match already. It makes no sense, because you dont even know the rules properly and the technique yet. Its the same progress with trading. So first learn the basics about the markets i.e. technical and fundamental, but also emotion control and money management are important. Take your time and practise a lot on your demo account before going live.

    I would love to hear your opinions and thoughts on this :)

    Kind Regards,

    BSB Zen

    blueskybinary.com
  • Re: How Much Hours Do You You Trade During The Day?

    Yeah in general I prefer a few hours of trading. Around 13-16 GMT+1 is best for me.
    Before I quit my job and became a full time trader, I used to work night so I was up late and I would trade Asian session too - around 3-5 in the morning my time.
    I think 2-3 hours is good. It's hard to maintain focus more than that. However, I normally let me charts run from the moment I turn on my PC. If I see a good opportunity then I trade. If I don't, then I just wait.
    I totally agree with you, thanks for sharing Okane :)

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