Looking Back Can Be Deceptive!
No, you didn't accidentally stumble upon some sort of financial page - not even close! But I DO have a very good reason for having that chart posted up there. Read on and find out...
The above chart is for binary options but, at the same time, what I'm going to say would be true of any kind of options, commodities, stocks or any other type of asset that is traded. When one is trading these types of assets it is always important to have access to charts to show you how that particular asset has performed over a certain period of time. This should help you in determining what that asset may do in the future.
In trading binary options, charts become even MORE important since they deal on a much shorter time period than other traditional trading methods. Many times, with binary options, one can look back over a few hours and come up with a reasonable idea of what may be about to happen over the next 5, 10, 15 or even 30 minutes.
In my "studies" of trading binary options I have turned to many videos from many different people suggesting the use of different strategies that might prove successful in this task. I have watched as many have shown a "still shot" (like what you see above) and point out where different winning trades would have occurred. Sometimes there will be a loss shown as well but, in my experience, they usually focus on the wins to try to get you to "buy into" their strategy.
But, here is what I have learned along the way...what you "look back" at on these charts does not necessarily indicate what actually took place in "real time".
When one is "in" a trade and it is "live", the price point that one enters the trade as well as the price point that one exits that trade is very important, just as it is in ANY type of trading (stocks, etc.). So, while one can "look back" and say, "This would have been a win!", it very well may have been a loss.
How so? When one looks back at the past action of the charts, it is impossible to know exactly what COULD HAVE taken place based on the entry and exit on the trade. I know because I experienced this myself during some of my "demo trades" (practice trades). A trade that I lost looked perfect when looked back on an hour or so later.
Everything is different while it is actually happening as opposed to what it seems when you look back.
This caused me to think and realize that, many times, this is how it is with life!
Many times, when we "look back" on different time periods of our lives, we may "see" or remember things DIFFERENTLY than they actually were. And, sometimes, this "deceptive view" may cause us to want to go back when we need to keep moving FORWARD.
I remember one particular yard that we had when I was a kid. I thought it was HUGE! When I thought about all of the things that me and my brothers and sisters did in that yard, I had an image of a very BIG yard! However, years later, as an adult, I drove back by that house and yard and was surprised at how "normal" or even small it really was. My memory and my imagination had created something that wasn't actually so...it was DECEPTIVE.
We'll be going into this more over the next couple of blog articles (and podcasts - see links below) but, for now, I want you to start examining how this has been true in your own life and to try to be aware of anytime that this could have actually been harmful, IF you had decided to "go back" to that time in the past.
I think this will be a very interesting and beneficial discussion and I hope you will plan to be back to be a part of this and that you will invite others to do so by sharing this with as many as possible.
Hey friend, if you haven't done so yet, you need to listen to the podcast on today's topic. Just click one of the links at the bottom of this article to do so. There is SO MUCH MORE information and additional thoughts that I share with you there that is not found in this article.
If you listen by going to iTunes, please take a moment and leave a review - I thank you in advance! Also, be sure to stop by the FYU fan page on Facebook and let me know that you left that review AND to just say "hello" and let me know that you are benefiting from Future You University.
As always, THANKS for joining me today and, please, share this with as many as possible and always be sure to keep moving forward, closer to your dream!
And, until next time, whatever you do, be sure to...