The deal is closed. Forget about it. Look for the next opportunity. Start from scratch …
Every day you get your profits, using the opportunities in the market. The more opportunities during the day you had used, the bigger profit you can get. Successful traders practice and improve this routine procedure. At the same time, some traders and not only beginners, allow the trading results affect on the following decisions.
For those traders, the first few results of transactions have the greatest impact on the use of the following possibilities during the trading day.
If the trader in the first few transactions suffered a setback, he may lose a sense of confidence that is necessary for trading. On the contrary, a few wins in a row can make it overly confident.
For a successful trading, it is important to forbid yourself to think about past transactions and their results in the planning of new ones. Only rational thinking, no emotion! The evaluation process should take place only after the trading day.
However, how the most of are fighting with this problem? In fact, a conscious attempt to “forget” about previous results is similarly devastating as their consideration. Your task is to have a “zero” opinion about them. Nip the thoughts about past deals in the bud! But it is a skill and it requires time to form.
In fact, the reason why you think about past transactions is that you feel their importance for the results of trading in general. Constantly thinking about the results, you are trying to assess significance of these deals.
It is obviously a fruitless path. In a small time interval, and with the small number of transactions, you can’t find out a lot about your achievements. One deal with profit, one deal with loss … how much you will find out from it? Therefore, you must realize that the results of such small number of transactions unimportant and irrelevant. Having understanding this, you will don’t think about the latest deals all the time.
Successful and experienced traders consider every deal, every new binary option contract as their first deal of the day. In fact, a separate deal and its result is not a big deal.
- Write all your deals into trading journal.
- Close the trading day.
- Open your journal and calmly consider all your deals during the day.
All experienced traders tell about trading journal value. Here is one more plus for it from this article view: it allows you to start from scratch after each deal. Indeed, you are trying to keep the past deals in mind because you are looking for some specific circumstances associated with these deals. So you can repeat it, if it was successful (or do not repeat, if you lost money as a result of it). When you write down these deals into journal, it helps you forget about them psychologically. You know that you can return to these deals considerations at any convenient and calm (!) time. So, no need to think about them. Let’s trade further!