Balancing the Short Term with the Long Term
A lot of people talk about having the “long view,” but they neglect what is going on right in front of them. Others make the exact opposite mistake. They are completely occupied with what is happening now, and do not understand that over time, if they are patient and make good choices, their winnings will add up to something massive. Either error can cause you to fail at binary trading. Short-term vision is a kind of nearsightedness that causes you to get impatient. But when you fixate on nothing but the distant future, you do not see the path which can take you there, and you get nowhere.
|REVIEW||MIN DEPOSIT||AVG RETURNS||VISIT BROKER|
|$50||160% - 180%||VISIT SITE|
|$250||80% - 90%||VISIT SITE|
If our trader above had a balance of short- and long-term goals and vision, he would be able to find the right mindset which would allow him to patiently wait for the right setups, however long that would take.
- Make it your short-term goal to take only the very best trade setups and to do everything you can never to lose a trade—however long it takes.
- Make it your long-term objective to get rich—however long it takes.
Impatience causes you to make the mistake of believing that the more time you spend choosing the right trades now, the more time you will spend struggling before you manage to get rich. This is actually a logical fallacy. In reality, the more time you spend choosing the right trades now, the less time you will spend struggling before you get rich. You are really investing your time and dedication, not just investing in binary options! That investment can pay off hugely, but only if you make it. If you do not, you probably will never get rich, fast or slow.
Have the opposite problem, where you struggle to enter into a trade when you actually do spot one? Read this article for suggestions on how to proceed.
Use the articles below to learn how to trade better: