If you are going to trade with binary options accept the fact that you will have days where money is lost. This is par for the course. This is why you should only invest discretionary funds.

Fear can prevent you from moving closer to your ultimate financial goals. It is important to undertand that even the most successful traders deal with fear and doubt. As a trader you must learn to manage fear.

Realize that you will have fear. It is simply part of the investment process. This means that you must accept it.

One of the big advantages of trading with binary options is that you can easily control your risk. Some trading platforms will let you bid with as little as $5 dollars. This goes a long way towards helping you get a handle on fear as you learn the ropes.

A good way to manage risk is to make sure you never place the majority of your capital in a single trade, to earn a large payout. Yes, this is very tempting, but it should be avoided at all costs. Even the trader can make drastic mistakes when too much money is placed on a call or put. Make a habit of investing no more than 5% to 10% of your total capital. You will glad that you took this advice in the long run.

Learn to hedge your bids. This involves taking out an opposite position in order to limit the loss that can occur. Another big advantage of binary options is that they are very easy to hedge, and this can be an excellent way to limit exposure drastically.

It may also be helpful to put yourself in situations with people who are also trading and can relate to what you are experiencing. Online trading forums are a good resource for this.

Asking for help.
If you are in a situation where you feel totally out of control you may need to ask for help. This help may take the form of an experience broker or a thearapist. (Remember, any investment carries risks. Seek the proper advice before investing money).