People equally hate and admire lions. Their ability to hunt and maintain pace in a chase makes lions some of the leading predators on the planet. Interestingly enough, lions spend over 66 percent of the day resting. These adorable big cats appear harmless during their resting period, but they are just waiting for the opportunity to advance.
Okay, this guide is not just about lions’ lives. It’s rather about the various lessons each trader should learn from them. Once you learn these lessons, you will have a better chance at becoming a superior trader on the Binomo platform.
So, let’s begin.
The hunt is measured out and executed ruthlessly
The first step lions take is assessing their prey. The frail, hurt or old are being searched for. Such a tactic improves the probability of a good hunt.
Each lion plays a specific role in a chase. Once they are near a target, their primary objective is to scatter and isolate the chosen prey. The pride will spread out afterwards.
Is this relatable? Currently, many traders opened their Binomo trading account and started trading. Many times no preceding measures are taken such as checking what assets can be traded or what the trading conditions are. Jumping into action without preparations reduces the chances to create successful deals.
But what if the hunting doesn’t end well? Lions gather and wait for the herd to cool down. At that point, the operation begins once again from the very beginning.
The same applies to traders: not all of the trades are profitable. What you should do when a deal fails is to sit back and wait for the right conditions on the market to restore. Remember to approach a trade thoughtfully and dispassionately.
Adapt to different circumstances
For lions, life is not always easy and pleasant. There are moments of satisfaction, but there are also moments when they need to promptly decide what goes on for the next meal. In some cases, they have no choice but to go for what is available at that moment. The choice might fall onto prey that is currently available, be it wild oxes, zebras or impalas. Lions hunts different animals on different occasions.
This is similar to financial markets. You may have a feeling they are perfect for your style and methods. You will find, though, that sometimes the preferred market sectors are less than friendly to operate in. That is why it is recommended that you learn certain strategies that operate in different financial circumstances.
Each hunting is prepared carefully before it is carried out
Lion cubs are trained to chase from a very early age. However, only after they reach a certain age are they allowed to hunt. This is like any trader’s career. Everybody has to go through a learning period. Before you start trading, first, you should review different approaches, indicators and methods of cash management. You may then test your analysis on your Binomo Practice account.
When a lion learns how to chase, it conducts every chase in a particular way. Lions must decide which group leaders will divide the herd and force the target into a trap. This scheme is critical if lions want to get a meal and survive.
Often lions start too early or too late, and the prey has the time to flee. In fact, that does not mean their strategy was incorrect. It is just that the operation has not been effective at the time.
As a trader, you do not only need to make a good strategy but also choose the right time to make a profit.
Lions concentrate on simple goals
Lions primarily hunt for animals that live in groups. However, instead of targeting the biggest members of the herd, they target the young, weak or injured. These obvious targets increase the chances of a successful hunt. If live prey is in short supply, lions will also scavenge on kills made by other animals.
So, how does this apply to trading?
Most traders will seek opportunities in all market conditions. This may occasionally lead to tremendous losses. However, targeting the markets where it is relatively easy to profit can be a simple and a financially viable way. Still try to look for the markets that suit your trading style and general knowledge. Recognize the most successful marketing strategies in those markets.
Recharge your batteries
Most of the day, lions sleep under the shadow. And this is not because of the laziness.
Sleeping helps lions to save the resources they need to ready themselves for upcoming hunting. They are not worried about the previous chase, even if it went bad. They rest and prepare to ensure the success of the next hunt.
This means that traders shouldn’t relax all day long, either. You have to decide when and where to enter the market. Choose the most proper moments. It could be a time of 2 to 5 hours. Then make the most of your trading session during this time.
The rest of the day you can go ahead and relax with family or friends. You can do whatever you want before your next hunt.
Lions never let the beast go
If lions jump on their prey, it is very unlikely it will manage to escape. Lions leap on, snatch, bite and suffocate it. They know that letting the prey go means literally wasting resources. Favoring their pride stands above everything else.
This lesson can teach traders how to maximize profits. Be mindful that only if the gains are stored on the financial account correctly they will be counted. Do not reinvest your earnings in your next deals. A failure may mean that any attempt to make these gains is lost.
Start as a little lion
Only adult lions go out hunting, so before a lion can participate in pride chasing it needs to learn. Cubs spend months training and improving their skills by interacting with their more experienced siblings. Those months form the strong basis needed later on in the real hunt.
You need to do the same as a trader: spend weeks or even months training to trade. Use blogs, online journals and books to learn the theory. And use your Binomo demo account for practice.
It takes a lot of patience and flexibility to become a successful trader. In fact, nonstop learning is unquestionable if you want to make a career as a derivatives trader. Be mindful that large herds can even kill lions. The same way accounts of traders and some businesses are being lost. To survive a lot of preparations have to be made. Assets, strategies and timing must be thought through.