Successful Trading Is Boring, And That’s A Good Thing

Often times, trader-storytellers talk of wild market swings, fortunes made and lost and unbelievable rushes of adrenaline mixed with canyons of despair. While these things definitely do happen, the real truth is much less exciting. Successful trading, including successful binary trading, is boring.

For a trader to be successful long-term, they must trade for a long time. That statement might seem like “theatre of the obvious”, but the best way to last for a long time as a trader is to avoid the excessive danger that comes with massive boosts in your adrenaline. The emotional ups and downs that the gambling-style trader experiences, only fosters negative trading habits. Irrational behavior such as “I need to get my money back from the market”, ( as if the market bogeyman took money from the traders account rather than the trader losing it to another faceless, but complicity market participant) starts to permeate the trader’s their behavior, their mind and subsequently their behavior. When that happens, both trading losses and trading wins become bad. The losses being bad is obvious, but gains made on bad behavior may actually be worse, because it encourages the behavior that leads you account to eventual ruin.