There are a lot of temptations for binary options traders to hand over responsibility to someone else, kick back and relax, and wait for the cash to flow in. Auto-trading, trade alerts, social trading … Why do all the hard work when someone else can do it for you? If only it were that easy to make money! But if it were, why would anyone do the hard work? Wouldn’t everybody sign up for trade alerts, set up auto-trading, walk away from their computers, and come back a millionaire?

These features do have their uses. Auto-trading may be helpful to you on and off when you are unable to attend your computer, but still want to get in on a certain opportunity. Social trading is something you can learn from, and alerts can help you to catch great trades you might miss on your own. But none of them are a substitute for your own hard work and discretion, and none of them will make you rich. Binary options traders who are successful realize that there are certain things that they have to do themselves in order to make it.

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Here are 5 trading tasks that absolutely no one else can do for you.

success trading1. Make trading decisions for you.

There are a lot of ways that traders try to steer away from this responsibility. They may use trade alerts without understanding them, thinking they can substitute another trader’s system and trades for their own. They may turn to a social trading wall for trades to copy, instead of coming up with their own trades. They may turn on auto-trading so they can “set and forget.”

No one can make your trading decisions for you. Your choices will determine if you win or lose at trading. If you decide not to make any choices, that is still a choice. It is the choice to give up all control, and to allow luck to decide whether you succeed or fail. If you are serious about trading, you will take as much control as you can in your trading, so you can reduce your exposure to risk and turn the tables in your favor.

2. Test strategies.

You will often see trading systems for sale that have been tested and proven over hundreds or thousands of trades. This is a great indication that a trading strategy is sound and can deliver. But this is another area of trading where nobody else can do the hard work for you.

Why? Just because a technique works great for one trader does not mean it will work the same way for you. You are a different person, and you are trading in a different time (not the historical period the system was tested over). These factors and others will influence the results. That is why you must test any system you plan to use yourself to make sure that it will work for you. Otherwise you will keep wondering why the system isn’t working, even though other people have no problem using it. You also may never become aware of obstacles in your life or problems with other aspects of your trading which may be holding you back from success with that system or others.

3. Evaluate your performance.

Technically, another person can review your performance—that much is true. In fact, you probably should find someone who is willing to do this regularly. An accountability partner is someone who can help you to gain perspective and see your own decisions from a removed point of view. A trading mentor, partner, or friend can certainly help you to evaluate your performance. But ultimately, it needs to be part of your own self-evaluation.

Why? Because evaluating your performance yourself allows you to develop self-awareness. The more honest you can be with yourself, the better you will trade, because you will stop making mistakes, and start taking advantages of your own strengths. The other reason no one else’s evaluation can replace your own self-assessment is the simple reason that they are not you, and you are the one who needs to be able to live with your trading decisions. You know more about your own trading journey than anyone else possibly can, and you know the context that surrounds your decision like nobody else does.

4. Get motivated.

The best trading coaches turn out a lot of first-class traders, but plenty of duds too. This is not necessarily because they are bad at teaching. As the old saying goes, “You can lead a horse to water, but you can’t tell him to drink.” That is true with traders too. Someone can hand you all the external tools you need to succeed: a trading system, a money management plan, helpful tips for managing yourself, moral support, even money. But they cannot force you to put due diligence into your studying, testing, and trading. It is up to you to find the motivation to succeed. You have to set your own goals and find the energy and dedication to keep following through.

5. Take responsibility.

As a binary options trader forging your own destiny, you are responsible for your successes and your failures. When you are always relying on others for your success or failure, you are giving up your responsibility. That can make trading seem less intimidating, because it is harder to feel disappointed when you have someone else to blame for your difficulties. But it is also a mistake, because when you do that, you take success out of your own hands and place it out of reach. You make it impossible to make choices that allow you to profit.

It is nice to think that you can profit from binary options by handing the reins over to someone more experienced. To this end, many novice traders pay for services and then wonder why they are failing when those services do not result in profit. Trading signals, coaching programs, and other services can help you to profit, but they are essentially leading the horse to water. It is up to you to drink. These tools and services are only as helpful to you as you make them.

Assume responsibility for your successes and failures, even though it is scary. Acknowledge you are at times going to lose money, and you may spend months or years testing without ever placing a real trade. Do the hard work. Learn a trading system inside and out, practice it, get honest with yourself, and get motivated. Set goals and make trading choices which are right for you, and you will give yourself the best shot at success.