FOMO (Fear of Missing Out)

This is a state where you seem to be missing out on good trading moments that everyone else seems to be noticing. This feeling often appears when you watch how certain stocks are actively growing without your participation or notice how others share results on the Internet with high returns. All this can cause emotional pressure and often becomes the cause of other trading mistakes.

WHAT TO DO ABOUT THIS?

  1. Focus on a limited list of assets.
    It’s best to choose a small number of assets to track throughout the day. This helps you focus, improve the quality of deals and control risks. To begin with, it is enough to keep track of no more than three.
  2. Study the behavior of past market leaders.
    Analyzing successful assets from the past makes it clear that they often provided not one, but several entry opportunities. Even if you were not included in the first wave of the movement, you can wait for the next chance.
  3. Control the influence of social networks.
    While they are useful for learning and sharing ideas, it is worth remembering that in most cases they only publish successful trades, which distorts reality. This is important to consider from a psychological point of view.
  4. Hone your routine
    A clear algorithm of actions helps not to be distracted and reduces the influence of external information noise. This improves concentration and helps you find truly worthwhile trading ideas.
  5. Change your approach: think in terms of possibilities.
    Every year the market provides a lot of reasons for profitable transactions. Missed trades are not the end: there will always be new opportunities ahead.