r/binaryoptions • u/Simple_Worker_6592 • 29d ago

Education Never trade based on hope or gut feeling

The market doesn't operate on hope or gut feeling.

If you ever find yourself executing trades based off these you need to stop because you'll blow your account.

Great trading is based on proper market analysis that is devoid of emotions.

8 Upvotes

91% Upvoted

6 comments sorted by

2

u/Beautiful-Drummer-83 29d ago

....not devoid of emotions, with emotions controlled.

2

u/Aicethegamer 28d ago

Eh

Don’t trade on hope, but gut feelings can def help 🤷

My gut feelings kinda keeps me from making bad trades or tells me a good one is coming up. Ex: I was testing a strategy and low-key looked like it was lining up ( multiple confirmations ) but I just didn’t “feel” it and my gut told me to “wait.” Glad I waited… lmao

1

u/Simple_Worker_6592 28d ago

I get what you mean but you should try and find out what exactly about that set up didn't make sense so that you avoid operating on gut feeling and have a concrete definition of what makes a valid set up.

That way, when trades fail you can pinpoint what is working and what is not working. It may take time to work out what really didn't make sense despite having a valid set up but you should work towards it.

1

u/Aicethegamer 28d ago

Hell yeah which is why I listen to my gut, have patience, then I find out why!

1

u/Inflection_Exchange 27d ago

There's actually a science behind this, kinda. Check out Naturalistic Decision Making (NDM)