📌 Psychological levels
Psychological levels of support and resistance work because of the human predisposition to round numbers.
Humans appreciate simplicity. Translated into trading language, this means that traders appreciate round numbers.
Psychological levels are often used as entry or exit levels, as well as stop loss and take profit levels.
I always use these levels in my trading, which helps me to understand the situation better and make entry points more profitable.
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Burnout in the binary options industry, as in any other activity, can occur due to stress, constant tension, and emotional overload.
Here are some tips on how to avoid burnout:
🔥Take breaks: Taking regular breaks helps to restore energy and maintain mental clarity. Schedule rest into your daily routine.
🔥Learn: Continuous learning and improving your skills can help you feel confident in your decisions and reduce the stress of uncertainty.
🔥Control risks: Use risk management strategies such as setting stop losses and don't risk more than you can afford to lose.
🔥Maintain social connections: Communicating with friends and family helps you relax and take your mind off work problems.
Analyze and adapt strategies: Evaluate your trading strategies regularly and make necessary changes. This will help you stay efficient and reduce stress levels.
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