When I’m hungry I am grumpy. Plain and simple, I can’t work, I can’t trade and I get angry easily. Now don’t imagine I scream and behave like a madman but still, feeling the hunger in my stomach is like having a constant nag in my ear. Concentrating on something for more than 5 minutes is too difficult because all I can think of is food. Definitely you shouldn’t start trading when hungry because trading is not a quick thing and sometimes hours can pass until a good opportunity arises; maybe it’s like fishing in that regard, although I am not a fisherman. You definitely need to go grab a bite before trading and if you’re having trouble choosing, here’s what you should eat and here’s what your favorite food says about your trading style:
Food and Trading – Why You Shouldn’t Trade Hungry
Pizza. So you’re the pizza lover trader. The ninja turtle of trading, the one who wants to be on the move always and doesn’t wait for long before pulling the trigger. You can have your pizza slice right at your trading desk, eat with your left hand, click Call and Put with your right hand. Pizza lovers are addicted traders, having their pizza over their charts. Just remember, you are at your desk to trade not stuff your face with pizza ;)
Burger. “What do they call the Big Mac? A Big Mac’s a Big Mac but they call it Le Big Mac” – Pulp Fiction, 1994. You’re the burger lover trader, you cannot avoid the glorious taste of meat, cheese and maybe some onions together inside a bun (yea, that’s a great combination, I’ll give you that). You want it all, all options, all expiries, all assets and you want to bite a big chunk of it so you trade bigger than the pizza trader. Just be careful not to spill sauce over your keyboard.
Pad Thai. You’re the guy who keeps his diet balanced but cannot pass good, tasty food. You are always on the run, opting to grab some street food so you don’t miss out on any trades but you also recognize the importance of having healthy food in your stomach. You avoid extra indicators in trading, going straight for what you know, the best trades, the ones that don’t give you a lot of headache and have high chances of finishing in the money.
Steak. Is steak what you want now? You are a predator, hungry for meat, probably a vicious trader who uses big positions and invests a lot of time into trading but you’re making money out of it so it pays off. You have the time to enjoy a juicy steak and allow yourself some rest afterwards.
Spaghetti. Ahh, you like loose ends? There’s always one spaghetti that doesn’t want to go inside your mouth and you have to “persuade” it to go in. You always leave a trade open when you go to lunch, just for the thrill of not knowing what is going to happen with it. You feel good hoping that when you come back it will be closed in a profit and most of the times you are right. After all, that last spaghetti always gets eaten.
Fish. You are the shark that roams the binary options waters in search of his next meal. But wait, you don’t catch your fish, you buy it. Hmm, maybe your account manager or a signal provider is your fish seller and you just eat what they give you. Careful you don’t choke on a fishbone because these guys are not always the best Chefs when it comes to trading.
Fast Food. You want things on the go, quick and without paying much attention to what you eat or how you trade, you just want to be in the middle of it. You have to eat and you have to trade but the quality is sometimes doubtful because you don’t have the patience to wait for the best trade, the best meal. Order, pay and eat just as fast as you place a Call or Put – with a 60 sec expiry of course, because you are always on the run.
You cook your own food. Now we’re talking! You are probably just as careful about what you put in your stomach as you are about your trading. You pick only the best ingredients and you take the time to cook them right just how you pick the best trades, wait for them to develop and only then pull the trigger. You slow-cook your food and your trades, you pay attention to all details and the result is spectacular.
The Conclusion – aka The Dinner Check
No matter what you do or eat, you have to pick up the check afterwards. You have to pay for your steak, or fish or Pad Thai just how you have to pay for your bad trades, with the only exception that in binary options you can also get paid if you finish In The Money. A good trade is the equivalent of a satisfying meal and a bad trade is a stomachache you got from bad food. You always have to balance your diet just how you have to find the best ingredients for your binary options trading but make sure you don’t trade while you’re hungry. The market will be here when you come back from lunch and you will always find another trade if you missed one while eating. Take your time.