The most important mindset for making money in binary options: an iron will that you are not gambling
In FX, you can feel like you're making trades somewhat, but
with binary options, by its nature it becomes closer to a gambling sensation
Therefore, there is a tendency not to admit a loss gracefully
To do something about this, you need a steel mindset that says, “I am not gambling”
Some people think of the mental aspect as occult, but
in reality it is something needed alongside technical analysis
Inability to cut losses indicates that the mind has not been trained
To gain confidence in your trading method, this mental aspect must be trained
Even if you say you’ll train it
you can understand that, in reality, it is about familiarity and ongoing practice
In short, clearly admitting a loss at the time of cutting losses
and adopting a method unique to binary options of accumulating profits is the most efficient
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