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All trading appears to be pretty simple to those who don’t really have much of an understanding of all that is involved in trading and what it really takes to be successful. Binary options, on the other hand, appear to be even more simple than other forms of trading. While trading always appears to be simpler than it actually is, binary options trading is indeed considerably simpler.
All trading appears simple enough to new traders, although even the least experienced ones will realize or quickly come to realize that deciding how long they should remain in a trade is not going to be all that easy.
Once one places their very first trade, they start wondering how long they should stay in it, and deciding this properly is indeed a big challenge for those less experienced. Invariably, we will start second guessing ourselves and often succumb to emotions like greed and fear which will have us making bad decisions.
People may exit trades too early or stay in them too long as they seek to impose their will upon markets, not realizing that markets move independent of any desires they may have or their profit and loss in a trade.
We learn from these mistakes, or hopefully we do, but there is a lot to learn and we not only need to come up with good strategies that make money over time, we also need the discipline to execute them properly. Not sticking with one’s trading plan is a major challenge for traders and there are many who have killed it with a demo but wilt under the pressure of real money trading.
This is another thing to learn, to be able to have enough discipline to trade your plan, and we tend to underestimate the challenge here and don’t realize that there is a learning phase with this as well as coming up with profitable trading ideas.
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