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@  nkotb6 : (21 February 2020 - 02:37 PM) thanks for your reply
@  David : (20 February 2020 - 01:38 PM) i'm not sure yet -- if i do i will have an announcement ya
@  nkotb6 : (20 February 2020 - 11:20 AM) @David I am sure you are going to write an announcement at some point on this page
@  nkotb6 : (20 February 2020 - 10:37 AM) David, have you got the official date on when you shut down BOE?
@  David : (19 February 2020 - 09:38 AM) very nice, i will have to check them out!
@  dth : (19 February 2020 - 09:37 AM) my 15k was actually supposed to be 12 and the 18 was supposed to be 15k
@  dth : (19 February 2020 - 09:36 AM) bet365 the way to go ... they add a little more if you hit parlays
@  David : (19 February 2020 - 09:36 AM) oh cool
@  dth : (19 February 2020 - 09:35 AM) and betway
@  dth : (19 February 2020 - 09:35 AM) bet365
@  David : (19 February 2020 - 09:30 AM) who are you using, bovada?
@  dth : (19 February 2020 - 09:30 AM) i always come out learning something new about the other
@  dth : (19 February 2020 - 09:29 AM) but i mean every year i go into trading than into football and back into trading
@  dth : (19 February 2020 - 09:29 AM) since thats everyday
@  dth : (19 February 2020 - 09:29 AM) which i didn't mind because ftb was once a week ... i'm trying to figure something out for college hoops and its wayy more work
@  David : (19 February 2020 - 09:29 AM) haha yea, that shit takes a lot of time im sure
@  David : (19 February 2020 - 09:28 AM) Love it
@  dth : (19 February 2020 - 09:28 AM) but i was doing it caveman style as so my developer says... in putting spreads and totals manually... literally starting sometime in the evening staying up til 5am
@  David : (19 February 2020 - 09:28 AM) daaaang!
@  dth : (19 February 2020 - 09:27 AM) yeah 500 on a 5 gamer = 15k plus 300 on a 6 gamer = 18k

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7 replies to this topic

#1 RhodaFx

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Posted 06 June 2017 - 04:51 AM

Am worried about myself, what do you when you have this fear to to trade just because you want to really manage your way to the top due too low balance, even when your system is very consistent, i mean very consistent, 

Sometimes you missed out of very profitable days, like yesterday for me, if i was still on my laptop i would have made 5 wins - 0 loss but immediately i took two trades i was off for the day, am i being over protective of my account? 



#2 Aliloucarp

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Posted 06 June 2017 - 04:59 AM

I have this issue Rhoda.  I have learnt though to take just 3 trades per day then walk away. To grow your balance you only need to be consistent. If your strategy is good, cherry pick your best trades for maximum itm. Once your balance grows you may feel differently. In binary options I don't think it is wrong to be cautious and protect the balance you have. Best of luck!  :)


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#3 traderpusa

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Posted 06 June 2017 - 05:01 AM

i think your problem is nothing new, and most traders have it.  You say your system is very consistent.  Then why you lack faith in it ?

If so, you know you should be able to absorb any losses and let your system do its job.

Trading is all about probabilities and nothing is guaranteed.  Every entry has a 50% chance of winning and losing.  Price goes up or down.

I think you need to write down the rules of your system, print them, and put them next to your mouse or keyboard.  Make a checklist, and when

everything complies with your system, enter.  If it is consistent as you say, your results will also be consistent. 


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#4 RhodaFx

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Posted 06 June 2017 - 05:10 AM

i think your problem is nothing new, and most traders have it.  You say your system is very consistent.  Then why you lack faith in it ?

If so, you know you should be able to absorb any losses and let your system do its job.

Trading is all about probabilities and nothing is guaranteed.  Every entry has a 50% chance of winning and losing.  Price goes up or down.

I think you need to write down the rules of your system, print them, and put them next to your mouse or keyboard.  Make a checklist, and when

everything complies with your system, enter.  If it is consistent as you say, your results will also be consistent. 

Thanks bro



#5 BOedge

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Posted 06 June 2017 - 05:40 AM

I'd like to add to traderpuse that you are putting too much pressure on yourself with a need to get somewhere. Trading from a place of need is very different from a place of want. Trade in steps. At a certain amount until you are so comfortable with it that it literally bores you. Then step up to the next amount.

 

If your strat is that consistent, then put some money into the account that you can afford to loose. I call it the Starbucks money. Money you would have otherwise wasted on frivolous things like overpriced coffee. Trade with that and do not care whether you loose it or multiply it. You would have lost it anyways, peed it away so to speak :). Multiplying is the cherry on top. When you start multiplying it, take out a little every month, and leave in enough to keep trading, with that same mind set. When you have taken out what you once put in, then the money left to trade with is free money. Even less problematic to loose. And even sweeter when you multiply it.

 

When you put pressure on yourself that you must do this or that, then your focus is off and on the wrong thing. Focus on trading, rather than on profit. That comes automatically. When you know your strat is 70% successful for example you can take the few OTMs in stride. They are bound to happen. It is a mathematical certainty. So are the ITMs. A mathematical certainty. Also know that you don\t need 70% to build an account. With a 75% payout rate you can build your account with a 60% success rate. Anything better than that is double cherries on top!!

 

Switch between demo and real account frequently and treat your demo account like a real account. With more practice you get more routined and you learn to have faith in the mathematical certainties, even when there is the odd day that has more OTMs. Other days also have more ITMs than average. It will average itself out. Grow the account slowly and comfortably and just keep trading. If a day or a moment feels off, trade on demo and trade anyways. Stick to your rules, take breaks frequently, and keep trading between breaks.

 

And never give the 'there would have been x ITMs' any attention at all. A trade you never took is a trade that never happened. It is also a trade you never lost. Focus only on what is, never mind what could have been. Do, then you know what was. Only that counts. Keep doing and your trading will improve. Eventually you will find it pretty boring and have to find something to keep it interesting :)


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#6 RhodaFx

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Posted 06 June 2017 - 06:04 AM

I have this issue Rhoda.  I have learnt though to take just 3 trades per day then walk away. To grow your balance you only need to be consistent. If your strategy is good, cherry pick your best trades for maximum itm. Once your balance grows you may feel differently. In binary options I don't think it is wrong to be cautious and protect the balance you have. Best of luck!  :)

i think this is what am going to do, pick 2-3 and walk away, i won't mind even if i come later to see more



#7 RhodaFx

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Posted 06 June 2017 - 06:12 AM

I'd like to add to traderpuse that you are putting too much pressure on yourself with a need to get somewhere. Trading from a place of need is very different from a place of want. Trade in steps. At a certain amount until you are so comfortable with it that it literally bores you. Then step up to the next amount.

 

If your strat is that consistent, then put some money into the account that you can afford to loose. I call it the Starbucks money. Money you would have otherwise wasted on frivolous things like overpriced coffee. Trade with that and do not care whether you loose it or multiply it. You would have lost it anyways, peed it away so to speak :). Multiplying is the cherry on top. When you start multiplying it, take out a little every month, and leave in enough to keep trading, with that same mind set. When you have taken out what you once put in, then the money left to trade with is free money. Even less problematic to loose. And even sweeter when you multiply it.

 

When you put pressure on yourself that you must do this or that, then your focus is off and on the wrong thing. Focus on trading, rather than on profit. That comes automatically. When you know your strat is 70% successful for example you can take the few OTMs in stride. They are bound to happen. It is a mathematical certainty. So are the ITMs. A mathematical certainty. Also know that you don\t need 70% to build an account. With a 75% payout rate you can build your account with a 60% success rate. Anything better than that is double cherries on top!!

 

Switch between demo and real account frequently and treat your demo account like a real account. With more practice you get more routined and you learn to have faith in the mathematical certainties, even when there is the odd day that has more OTMs. Other days also have more ITMs than average. It will average itself out. Grow the account slowly and comfortably and just keep trading. If a day or a moment feels off, trade on demo and trade anyways. Stick to your rules, take breaks frequently, and keep trading between breaks.

 

And never give the 'there would have been x ITMs' any attention at all. A trade you never took is a trade that never happened. It is also a trade you never lost. Focus only on what is, never mind what could have been. Do, then you know what was. Only that counts. Keep doing and your trading will improve. Eventually you will find it pretty boring and have to find something to keep it interesting :)

you have really nailed it.i think am mounting pressure on myself because i need to meet up needs /obligations. thanks bro


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#8 samabiong

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Posted 07 June 2017 - 05:37 PM

Have you considered a trading plan and/or a money management plan?

 

A trading plan has many benefits:

  • It takes away most of the stress
  • It eliminates many of the emotional problems traders deal with
  • It forces you to analyze charts in detail without the pressure of live moving markets
  • It allows you  to take a more objective look at price movements
  • You know exactly what you have to do, when you have to do it and what to expect from your markets
  • Trading becomes a waiting game – you let price come to you; you don’t have to hunt for trades or randomly flip through timeframes
  • Your trades are pre-planned
  • Helps develop a consistent routine that leads to consistent results
  • Helps eliminate noise such as:
  1. Taking trades that don’t match your rules
  2. Missing trades
  3. Chasing price
  4. Inconsistent risk management
  5. Changing indicators or methods
  6. .....etc
  • It also forces you to objectively look at your trading and allows you to create a calmer trading environment
  •  …….and so on

After you have pre-planned your trades with your trading plan, it becomes harder to break trading rules because you have to convince yourself that it’s the right thing to do; you take more of the same trades which also enables you to perform a better performance review; you become more aware of how you really trade once you spend more time planning your trades; and you gain more confidence by following a routine and practicing discipline.

 

With money management, there’s a few mm plans on BOE that’s worth a look into. Check out Rockweli’s and a few others.

 

http://www.binaryopt...ns/?hl=rockweli

 

Have a nice one


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"Planning without action is futile, action without planning is fatal"  - source unknown

"Failure to Plan is Planning to Fail" - Winston Churchill & Benjamin Franklin





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