3 Reasons Small Victories Are Important in Trading

Using Confluence in Binary OptionsA lot of the advertisements you see connected to binary options emphasize the value of big wins:

“I made $500 an hour with binary options. Find out how you can too!”

“Turn $100 into $10,000 in one week.”

“Imagine making $100 in just one minute!”

And so on. This is the mindset that a lot of binary options traders approach their trading with, because they are encouraged to think this way. They ask themselves how much money they can make in one minute, five minutes, one hour, one day, one week. They constantly run the numbers to try and see how long it will be before they are making $1,000 a trade, and run calculations years in advance to try and guess when they will make their first million.

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90% $10 $1
 
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95% $250 $1
 
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160% - 180% $50 $2
 
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90% $250 $1
 
80% - 90% $250 $5
 
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200% $50 $10
 
95% $250 $1
 
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80% $5 $1
 
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  90% $10 $1
 
  200% $50 $10
 
  85% $200 $20
 
  85% $100 $5
 
  95% $250 $1
 
  85% $10 $1
 
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  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
90% $10 $1
 
200% $50 $10
 
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85% $200 $20
 
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  85% $50 $1
 
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Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  95% $250 $1
 
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  80% $250 $25
 
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  90% $10 $1
 
  85% $50 $1
 
  85% $100 $5
 
  95% $250 $1
 
  85% $10 $1
 
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Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $250 $10
 
  85% $50 $1
 
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  85% $10 $1
 
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Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  85% $100 $5
 
  85% $10 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  85% $100 $5
 
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  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
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  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  90% $50 $1
 
  85% $10 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $10 $1
 
  85% $50 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
90% $10 $1
 
85% $200 $20
 
85% $100 $5
 
95% $250 $1
 
80% - 90% $250 $5
 
85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $100 $5
 
  85% $50 $1
 
  85% $10 $1
 
  95% $250 $1
 
  80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  200% $50 $10
 
  85% $250 $10
 
  85% $50 $1
 
  85% $100 $5
 
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  80% - 90% $250 $5
 
  80% $250 $25
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
200% $50 $10
 
95% $250 $1
 
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  200% $50 $10
 
  85% $250 $10
 
  85% $200 $20
 
  95% $250 $1
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  85% $50 $1
 
  200% $50 $10
 
  85% $200 $20
 
  95% $250 $1
 
  85% $100 $5
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
95% $250 $1
 
85% $10 $1
 
80% - 90% $250 $5
 
85% $50 $1
 

 

This mindset is damaging for a couple of reasons. Firstly, it is unrealistic. Life is full of unpredictability, and nowhere is that more obvious than in trading. Every day you confront uncertainty, and you are always looking for an edge that will let you overcome that uncertainty to win. For that reason you should be focusing on your edge, and not as much on the possible rewards. Focusing only on your goal will breed impatience, and you will need a lot of patience to succeed at trading.

The other reason it is damaging is that focusing always on the future pulls you away from the present. You cannot achieve huge victories overnight. Large victories are built on many small victories, day after day. If you do not focus on the present, you will not be able to achieve those small victories, which means you will not achieve the big ones either. Here are 3 reasons small victories are essential to your success.

1. Concrete steps forward.
2. Positive feedback.
3. Slow, steady growth.

Why are each of these important, and how do they help you to win big? Let’s talk about each one in turn.

1. Concrete steps forward.

If you are only thinking about large victories, like making a million dollars, you are thinking about goals which are unachievable over the course of an actual day. There is never going to be a day over the coming months or years when you are going to say, “I made a million dollars today.” In fact, even when you do make a million dollars, you will not be able to say that. Instead, you will look back over the years it took to make that million, and say something like this:

“Every day, I worked toward achievable goals. I invested 3% of my account on my trades. In the beginning, I made $10 on many of my trades. Eventually, I was making $100 on my trades, and then $1,000. All of that has added up. I ended up making a million dollars.”

You cannot focus concretely on making a million dollars, but you can take tangible steps forward by focusing on smaller, short-term goals and achieving smaller victories. You can make $10 today, or $100. Do your best day after day, and you will be taking real steps toward the million.

2. Positive feedback.

A less obvious reward of small victories is positive feedback. When you surround yourself with small achievements each day, you are able to think of yourself as a person who is successful. You feel more capable, and because you have a more positive self-image, you will perform more confidently and make smart choices that lead to more small victories.

Conversely, if you are not achieving anything day after day, because you are waiting for the perfect million dollar trade to come along, you are sending yourself a negative message each day. You see build up no sense of accomplishment, and you have no idea what you are or are not capable of. You may feel like you are going nowhere (and rightly so in many cases), or even like you are a failure. This may result in you making poor choices. You may even start experiencing many small—or large—losses. This can quickly send you into a downward spiral that it is very hard to recover from.

3. Slow, steady growth.

Not only is $10 a more achievable goal than a million dollars, but a million dollars is made up of many smaller units. You cannot reach a million dollars without first reaching $10. That may be common sense, but it is easy to lose sight of when you are dreaming about making it big time. A lot of traders get started thinking about those advertising slogans that promise them overnight riches. The truth is, however, that every trader who makes a living with binary options has to build their accounts up slowly at first. Eventually, the pace picks up, and exponential growth becomes possible. But you will never make a million dollars unless you are willing first to make money in small increments.

It certainly is not as exciting to think about years of hard work as it is to think about overnight success, but with time and experience, you will learn to appreciate the day-to-day excitement that comes with small victories. Those daily strides forward may seem small, but they add up, and over time they will bring you great success. And looking back one day, you will realize that it wasn’t the day your account balance finally tipped over the million mark that you achieved greatness, but every day that you took some small, tangible step forward on the road to victory.