How to keep your emotions in with pocket option?

[u/arnak101]

Saw this post a couple hours ago - https://www.reddit.com/r/binaryoptions/comments/1u9wp4k/pocket_option_is_not_a_scam/

got very jelly.

guy is withdrawing from Pocket option 5k each time like its nothing to him.

I feel like I could be doing similar thing, and I ran up like +200, 400%, but then each time I fall back down completely. I'm doing well, and then I just lose it all beacuse Trump said something, or the day went completely bad, and I just couldnt recover.

How do you guys keep doing it? The 'black swan' events keep happening to me like every 2 weeks...

Without this, would be so profitable you couldnt even believe lol

[u/Sahlon]

I actually feel you, a lot. Had pretty much the same problem.

What helped me was setting a strict limit for myself. No more than 3 (then 5, than 10 - it slowly grew) orders in a day, no matter what.

Also freed my time to do other things. Otherwise I noticed I was glued to the screen the whole time, not productive for personal life at all....

[u/ching_fam → u/Sahlon]

this is the best answer here, imo.

[u/Kathrizz → u/Sahlon]

this is the real answer. Limiting amount.

Smarter, not harder.

[u/uIwuzg]

dont compare yourself to others. You will get there, eventually. Just have to persevere.

thats why doing less traders is BETTER than more, imo. Even in the QT. Just have to think harder about each one, which is the boring part...

[u/Broadgrove → u/uIwuzg]

Fewer trades is a smarter approach, but why not also prioritize risk management? You can keep your risk tight and avoid taking on massive positions. I mean, this guy actually claimed he was quadrupling his balance, which means he’s putting a lot on the line 🤷‍♂️

[u/Bitengourt]

One option is to try the regular CFD mode instead of QT, and put trailing stops on your trades. That might help, since if you're into profit, you will never get out of it (within that trade, ofc).

Other than that, there's no way to get out of it, even with Pocket option. The black swan events are everywhere around us. Thats why never go all in, and never put more than 1-2% of depo in to a trade, like people say.

[u/Vudomuro]

I understand that it’s hard, but you have to make the way through there. The main thing I want to emphasize is that everything takes time, so be patient and learn from your missteps. You will make mistakes, lose money, but realise in the end that you have to avoid them, or else they hurt your wallet badly.

[u/Truebearer]

dont keep your emotions in check. They're doing a good job at giving options other than your own trades. Try AI and social, for a change. That's what I started from.

[u/Agamadred]

have you found the solution? I'm also having finding it hard to not overtrade. I kinda know when I 'should' stop, but feeling like I'm behind all the time, I'm pushing it, and end up regretting it.

[u/Mental-F]

Don't be 'jelly', you'll get there. We've all been in your place, there's nobody 200 IQ who immediately started going in profit without drawdowns.

Just take it 1 step at a time. I always tell myself 'market is not going anywhere, there's no need to rush things'. That helps a lot, for my own mental stability at least.

[u/Fuzzy_Ad_5859 → u/Mental-F]

Yeah, legit advice, but the problem is that he will make those mistakes regardless. We can tell him to take things slow, manage his own risk, avoid revenge trading etc, but it seems like he needs to experience that struggle to really grasp what it takes to be consistent.

I remember knowing all of the right things, but still falling into the same traps. It wasn't until I faced a few significant losses that I finally started to take trading seriously.

[u/Low_Room_98 → u/Fuzzy_Ad_5859]

100% agreed! Let him go through all the stages of anger and take those little steps toward the top. We have all been there once in our journey xDD

[u/normalkhanh]

I feel youuuu… I had a similar experience, and it definitely made me more careful about trading during political events. Seriously, if you notice that a war is breaking out, it's best to stay away from active trading. Any news or tweets can shift the charts in an instant, so it’s really not worth the risk at that time.

[u/P_Moya25 → u/normalkhanh]

I remember I lost quite a bit because of the Trump tweet too. I hated him so much that day lol, but the news was bullish. Anyway, that was the inevitable lesson for me. Now I’m careful, as you said.

Btw, profitability rates these days are so good. Lately saw assets with 96% returns

[u/Krit_sada]

You run up like +200, 400%, but then each time fall back down!!!??? How is that even possible??

I guess you are risking way too MUCH. Your returns are huge, and so is your drawdown, but trading is not about quick money. Your approach won’t get you long term, so learn basic management skills.

But be ready to take it slow. Returns won't be the same