Should You Take a Vacation From Binary Options?
Binary options can be a fun and profitable activity, but let’s face it. It can also be a wearying one, especially if you have been losing money. Have you recently gone through a bad losing streak? Have you lost more than three or four trades in a row? Are you having one of those months when it seems like all the strategies you have worked so hard to develop are falling flat? Are you down on your luck? It happens to everyone at some point or other, even the most skillful and dedicated professional traders.
Now and again, it is not a bad idea to step back from your binary options account and take a little break. Traders often get caught up in the feeling that if they are not constantly plowing forward, they are falling behind. You may feel like you are short on time and you have too much to accomplish to find time for a break. But if you are only running in circles, sometimes taking a moment to stand still and take a breather actually is a way of moving forward. It does not mean you are giving up. It means you are taking time to step back, get perspective, and come back fresh and strong.
What are the benefits of taking a break?
- Stop losing money. The more you trade when you are not performing at your best, the more money you will lose. The more you lose, the less you can afford to invest on each of your trades. You do not want to continue down that downward spiral when you have no idea what is going wrong. Cut your losses and go back to demo testing before you go live again. There is no reason to continue stepping backward and undoing all your hard-earned progress.
- Get your head out of the game. Sometimes you have to do this if you want to clarify your perspective. If you strain your eyes too long trying to solve a puzzle, what happens? Your vision gets blurry and your eyes burn, and then you can’t get anything done. Pulling back from the market and thinking about something else for a while can give your brain a chance to refresh itself.
- Get your head back in the game. After you have had a break and your brain is back to functioning at its best, you should be ready to take a look at your trading again and see it with new eyes. You may be surprised at what stands out to you. You may spot the problems that have been costing you money right away. If not, you should at least feel less burned out and better able to concentrate.
- Restore balance to your life. Sometimes what is costing you money in binary options trading is nothing you are doing in terms of analysis or trading decisions. Sometimes it is that you are taking too much time and energy away from other elements of your daily life. Are you getting enough sleep? Enough leisure time? Are you spending time with friends and family? A break lets you balance out your life again, which can in turn lead to better trading.
How can you make the most of your trading vacation? Here are a few suggestions that should help you to get back to trading as soon as possible and feel refreshed and renewed:
- Do something fun, and unrelated to trading. It probably will be the last thing you want to do when you first start in on your break, but it is hardly a break if you spend the entire time thinking about trading, is it? A real vacation has to involve doing something different with both your body and mind. Allow yourself some genuine diversion. When your focus is too narrow, you lose sight of the bigger picture. This concerns both your trading and your life as a whole.
- Try learning something unrelated to trading. Have you been thinking about learning a new language? Learning to paint? Learning to dance? Go for it. Take your trading vacation as an opportunity to start something new. Learning something else sometimes helps your brain make the connections you need to learn more about trading.
- Talk to others about your trading. This could mean having a conversation with a family member, spouse, or friend, or it could entail going online and talking to other traders. See if someone else can maybe shed a little light on your situation. None of us can live in a vacuum, and sometimes we need others to help us.
When you come back from your trading vacation, it is a wise idea not to jump right back into live trading. Take an extended break from trading live, even after you get back to reading, researching, and troubleshooting. Get back to testing. Hopefully your brain will have had a chance to make some new connections while you were doing other things, and you will have some insights you never would have had before if you had just kept banging away at the problem.
Sometimes we are just too close to things to see them clearly, but when we pull back and get a little distance, we also get perspective. That perspective can empower us to make positive changes which can lead us to getting back up on the horse. Once you start seeing those positive results reflected in your demo account, you can end your break from live
trading and get back to trading with real money.
Other ways to improve your trading after a vacation can be found at the following: