Get started

Fomo

Watch this ticker attempt a rally...When less than stellar stocks attempt to run after a 90 percent drop its note worthy to watch, understand the basic mechanics of the pump and dump and FOMO by bed ridden traders that believe they can make millions while laying in bed... This is half a joke and half true, never chase trade but if you must understand technical, short term resistance above $7 upper resistance $16.... Woahhh, 200 percent gains sounds insane but also 900 percent in less than two week. Based on Fibonacci levels you'll understand why $16 is the sweet spot and if you trade this last week you'd know why $16 held in the initial rally now people dead cat bounce are really this isn't me saying BUY because I can already hear the traders with their eyes cover in buggers saying pumper as if they hold million that my suggestion to watch this for educational purpose would lead them to buy and lose such precious money... So understand this is an opinion agree to disagree and show me your analytical skills not the hot air blasting from your morning breath (@: Remember always keep watch because those with infinite resources will always have an upper hand on us the APES. Trade the trend not your greedy my friends...
NASDAQ:OMH
by GhostingTrades
Common Fears in Trading and How to Overcome Them As we discussed many types, psychology plans a crucial role in trading. Even the best strategy in the world, can be screwed by emotional decisions. In this educational articles, we will discuss 5 common fears in trading and the ways to overcome them. 1️⃣Fear of the Unknown. Lack of experience make many traders face "unusual" situations on the market: the setups, patterns, fluctuations and formation that they have never seen before. Such events cause inaction and paralyze. Not knowing how to deal with such situations, newbies make irrational decisions that most of the time incur losses. ✔️Solution: The best way to beat the fear of the unknown is to keep learning: reading the books, watching the charts, studying the historical data will help you to be prepared for various situations. Also, your mindset plays an important role here: your adaptability, your willingness to accept the changing nature of the market are essential for your success in trading. 2️⃣Fear of Being Wrong. Testing multiple strategies and trading techniques, the only way for the newbie traders to prove their efficiency is to try them, try them on real market. And of course, the majority of the stuff that you will try won't work. In trading, each mistake costs money, hence, losses will be inevitable. The fear to make a mistake will be chasing you. ✔️Solution: The best way to overcome the fear of being wrong is to build a confidence in your actions. After trying multiple strategies, you will certainly find the one that works. More you will trade with that, more winning trades you will catch, more confident you will become in your system. 3️⃣FOMO - Fear of Missing Out There are thousands of instruments to trade. Many markets are opened 24 hours a day. Of course, you can not monitor them all, and even if you have a fixed watch list of the instruments that you trade, you can not monitor them 24/7. Some opportunities will always be missed. Some trading setups will form while you are sleeping, and accurate patterns will form on the instruments that are not in your watch list. Realizing the fact, that something will always be missed, is painful. For that reason, newbie traders are trying to be present everywhere at anytime. But the paradox is that more options breed more confusion. ✔️Solution: Always remember the fact that patience always pays. Opportunities will always come, but in order to catch them, you need focus. And fewer instruments you have in your watch list, more attention you pay to them. 4️⃣Fear of Losing Money The biggest risk in trading is the fact that your entire trading account can be blown in a glimpse of an eye. Moreover, trading can be learned only by trading. And losses are inevitable, no matter how good you are. That makes newbie traders be scared of opening just one single position. ✔️Solution: I always give my students the recommendation to trade with the amount that they can afford themselves to lose. Consider your trading account as an investment. With each single trade, you are investing in your skills, in your knowledge. You pay the market to teach you. 5️⃣Fear of Not Taking Profit at the Right Time Imagine you opened a trade and the market suddenly starts moving in the direction that you expected. It is coming closer and closer to your target... A few seconds after, however, the market rolls over. You see how your profits start evaporation. Probably you chose incorrect take profit level? Maybe it is the moment to close the trade manually? You are scared that all the profits will be gone. ✔️Solution: Take profit level selection is a very hard element of each trading strategy. The only way to not let your emotions intervene is to build the solid system that proved its efficiency and learn to be disciplined to follow that no matter what. Always remember that no one can teach you how to deal with yourself. How to deal with your emotions. You should go through all these fears by your own and find the way to beat these dragons. The solutions that I shared helped me to beat my dragons, I hope that they will help you to beat yours! ❤️Please, support my work with like, thank you!❤️
FOREXCOM:XAUUSDEducation
by VasilyTrader
5
😨 FOMO Today.... or POMO Next week?😱 The fear of missing out The fear of missing out (FOMO) is an emotional response to the belief that other people are living better, more satisfying lives or that important opportunities are being missed. FOMO often leads to feelings of unease, dissatisfaction, depression and stress. Well i guess we need to create a new word, so i called it POMO (Panic Of Missing Out). I hope I am right and i am not always but market looks Bullish to me and given that: -Feds almost done with hikes -Canadians didn't hike yesterday - Most importantly my charts show we might SERIOUSLY Pump next: Hope i'm right... One Pump, The FXPROFESSOR
BITSTAMP:ETHUSDLong
by FX_Professor
7
If you want to BUY Bitcoin NOW, PLZ DON'T!Current trend and market structure: first time a 4H candle CLOSE above the local resistance higher lows consistently during past three weeks less correction with each resistance touch but the slope of higher highs is lowering meaning it is taking longer to go less high. It WAS more bullish till now BUT ... Current orderbook Situation: we are near a new higher high resistance, so it is expected to have more sell taker orders than buy taker orders since we are in a new uncertain environment, we have almost no major maker orders on the orderbook above or below to prevent the price from going higher (or lower). If you haven't bought bitcoin before, please don't do it just now! Wait a bit and consider these two long term things: 1- DXY is probably having a double bottom 2- BTC is near a very important resistance on weekly timeframe: On the other hand, since everyone is expecting 25K, it is a bit scary to follow all! The only problem I have with going higher from here is the volume divergence. As the price is going higher, we are having less and less volume which means less buyers... About volume: Although there are a lot of things going on here about the volume since Binance zero trading fee on BTCUSDT ended (volume dropped exactly after that!) and now BTCTUSD has zero trading fee, and a part of the volume from USDT is moved to TUSD pair in Binance (A simple script can aggregate the volume of them to analyze volume better). But even despite that, the counter argument against volume divergence is the passed time in this area. Usually, we only see big volume on every candle and don't consider the aggregated volume over the passing time. I don't consider myself eligible enough to post any setup here, just trying to share my perspective in an uncertain environment. And one more thing, there can be a high possible dump if ever price crosses under the orange bullish trend line...
by NoaTrader
TSLA Kangaroo Market 3/1VIP Day for TSLA *DUMP & PUMP or PUMP & DUMP... Manipulation is Strong at these levels This Consolidation will end soon leading to continuation break-out or distribution Bullish Target $221.5 + Close above $224 will show Buyer Commitment Bearish Target: Close below $197 *POC My Patterns & Targets are on Chart Detailed Insight from: 2/28 TESLA is currently one of if not the Strongest Stock and is helping to hold up the Markets. I believe that the Rally is close to wrapping up at this stage of the "Mark-UP" *Wyckoff Distribution" I can see "Pump & Dump" -Final UTAD and Possible Continuation through Wednesday with Distribution. ****TSLA is BULLISH - do not mistake my bearish insights as a short confirmation *Daily Chart is very Bullish (The best moves keep going in the same direction) I Technical/Trend/Patterns: 200 Daily MA & 0.382 Fib are psychological zones that Bulls will want to ensure TSLA gets too .. -^Bullish double bottom pattern places TSLA move to $220-$224 area -^Potential Island Reversal to the bullish side BEARISH: -Bearish Rising Wedge on Daily- if pattern completes, measured move will go to fill gap @ $147.61 (MACRO-2-3 weeks) --Bearish Divergences are formed on lower time frames (4hr-1hr) -Daily Bearish Divergences are looking to follow suit if a new High is made (speculation) -OBV & Momentum indicators are diverging to the negative (OBV is High but Momentum is low -contrary) -Price has been moving down but A/D Line continues rising *I analyze this as Higher Distribution _____________________________ -***TIME FRAME: Analyzing consolidation patterns and impulse moves (Mark-UP) - I am seeing Consolidation on average of 25-27 days and Impulse Moves lasting 14 days *Tesla is going to hit 27 days of consolidation on Wednesday I can foresee the Markdown Phase Beginning for 2 weeks and moving into consolidation until before next earnings in April before the Next Mark-UP This aligns up with Seasonal Market Trends ( Bullish in Jan - Decline mid Feb to mid March) - Options Current Options info: *$200 Call Option Wall -Contrarian view is that with High Call Options @ $200 price will close below that by end of week (Market Makers do not want to pay-out) Max-Pain is currently at 197.5 -Bullish view: amount of options could create a "Gamma Squeeze" -Squeezing Tesla to test or surpass Highs in the short-term, ***Short-term pump & Dump Weekly Expected Move: $215 High $197 Low Positives: -Investor Day is Hyping up the bullish trend as everyone is preparing for Elon to showcase "GEN 3" platform -a new commodity vehicle for $25-30k before mark-up. This has retail piling into TSLA stock with an enormous $200 call Option wall again.. -Berlin Higher production levels --QQQ Potential Island Reversal to the bullish side - Help to continue Rally Analysis: Short-Term Neutral/ Bearish (Long-Term Bullish ) My bias is Bearish with a possible pump & dump scenario in play ... $200 Daily MA & 0.382 Fib are psychological zones that Bulls will want to ensure TSLA gets to .. If Tuesday shows strong Commitment and closes at the highs.. We could see Bullish continuation to $234. Tomorrow is VERY CRITICAL - Monthly close above $200 shows strong buyer commitment - if there is a sell-off and we see a close below $197, I feel confident that Tsla will retrace to $145 area to fill gap ( 0.618 retracement ) Tsla Closing strong tomorrow will lead me to believe that consolidation may continue through next week until we get March Payroll Data (this puts my target price to $232-$234 before we see "Mark-Down" *watch how TSLA reacts to Weekly Expected high at $215 area -I am staying away from Options except for "Day-Of" -Day Trading has been exceptional - waiting 15min after market open has proved beneficial
NASDAQ:TSLA
by Black_Sheep1
7
❗️PLAN VS FOMO EFFECT❗️ ☑️A trader with a plan is someone who has a well-defined trading strategy that outlines their entry and exit points, risk management approach, and overall trading philosophy. ☑️They have a clear understanding of the markets they are trading and make decisions based on objective analysis and research. They are disciplined and stick to their trading plan, even in the face of losses or market volatility. They avoid impulsive decisions and emotions like fear of missing out (FOMO) that can lead to bad trades. ☑️On the other hand, a trader with FOMO is someone who makes impulsive decisions based on fear of missing out on potential profits. ☑️They may jump into trades without fully understanding the market conditions or conducting proper research. They may also ignore their risk management strategy, in an effort to make quick profits. They often enter trades based on rumors or tips from others, rather than their own analysis. This type of trader is more likely to make poor trades and suffer significant losses. ☑️In summary, a trader with a plan is someone who is disciplined, objective, and systematic in their approach to trading, while a trader with FOMO is impulsive, emotional, and reactive in their approach. I Hope you guys learned something new today✅ Wish you all Best Of Luck👍 😇And may the odds be always in your favor😇 Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
7
😱 Fear Of Missing Out (FOMO)📉Fear Of Missing Out (FOMO) / SHORT scenario. Fear of missing out, or FOMO, is the feeling of anxiety or regret that can occur when someone believes that they have missed an opportunity to invest in a stock or crypto currency that is increasing or decreasing in value. This feeling can be triggered by seeing others making money from a particular investment, or by observing the stock or crypto's value increasing or decreasing over time and thinking that one should have invested earlier. FOMO can be dangerous to investors because it can lead to impulsive buying or selling decisions that are not based on sound investment strategies. In the above scenario we can see the effect of FOMO in play. The price action breakdown of the trendline, indicating weak support and a flip of the trend. This psychological effect can be observed without the use of indicators and by just looking at the price action. A deeper look into order flow and Open Interest could further explain the trader's behavior on this particular effect that occurs. 🔴 ENTRY is based on the first major red candle after the breakdown, trying to knife-catch the price, based on no strategy and purely emotion of missing out a potential short position with a stop loss nowhere close to a potential supply zone where the price action could re-visit for confirmation of a downtrend. 🟢 ENTRY is based AFTER the retest of the trendline, on a potential supply zone where the price action is looking for a retest at this level before confirmation of further decline of price action. Stop loss is given above the last high, above the trendline. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow ❤️
Education
by QuantVue
2
What is FOMO and how to avoid it? What is FOMO? FOMO - Fear of missing out or Lost Profit Syndrome - an obsessive fear of missing out on an investment opportunity. This syndrome can overtake in any everyday situation and make you remember missed chances to get rich all day: ignore the growing popularity of cryptocurrencies, not invest in bitcoin and many other short-sighted actions. To determine the presence of the syndrome of lost profits can be on several grounds: frequent check of the exchange rate of the asset in the portfolio; obsessive fear of missing some important event or news; dependence on a smartphone, discomfort in the absence of a gadget; resentment if someone is luckier or more successful. In trading and investing, the FOMO phenomenon is especially noticeable. Many investors under the influence of the syndrome make spontaneous purchases, make many mistakes and subsequently lose faith in the prospects of the market. But the good news is that even this obsessive-compulsive disorder can be cured with a few tricks ✅ Forget about the past. What once happened in the market is absolutely irrelevant. No successful investor looks at quotes in the past. He only thinks about the future. Chances never end, they always reappear. ✅ Increase your competence. Master new skills, study the experience of professionals, All this will give not only the necessary knowledge, but also confidence in the correctness of your actions. ✅ Set clear goals. You should always keep your strategy in mind and set target values when buying an asset. If the quotes reach your target, you should sell. ✅ If there are no ideas for investing - wait. If there are no assets that fit into your strategy, then the most correct decision would be to save, increasing the cash position. And wait for the right moment. It will definitely come, and you will know about it when the crowd will scream about the next funeral of the stock market. ✅ Your strategy is everything. Develop your own strategy and stick to it, improving on the way! Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
BITSTAMP:BTCUSDEducation
by Crypto4light
3
⚠️Don't let FOMO ruin your trading⚠️FOMO, or "fear of missing out," is a common emotion that can lead to impulsive and potentially reckless trading decisions. ⚠️ ✅Here are five key rules to help you respect and manage FOMO in your trading: 🔵 Use risk management techniques. Proper risk management is critical to successful trading. This includes setting stop-loss orders to limit potential losses and using position sizing strategies to ensure that you don't risk more than you can afford to lose. 🔵 Seek out education and guidance. If you're new to trading or struggling to manage FOMO, it can be helpful to seek out educational resources or seek guidance from an experienced trader or financial advisor. By learning more about the markets and trading strategies, you can increase your knowledge and confidence, which can help you make more informed and rational trading decisions. 🔵 Take breaks and step away from the markets. It can be easy to get caught up in the excitement of trading, but taking breaks and stepping away from the markets can help you clear your head and make more rational decisions. 🔵 Don't let emotions drive your trades. FOMO can lead to emotional trading, which is often not based on sound analysis or strategy. It's important to stay disciplined and base your trades on objective criteria rather than letting emotions drive your decisions. 🔵 Set clear trading goals and stick to your trading plan. Having a clear understanding of what you hope to achieve with your trades and a plan to achieve those goals can help you avoid making impulsive decisions driven by FOMO. 👤 @Galerdev 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate my work , Please like, comment and follow ❤️
Education
by TradeConf
Trading Psychology – FOMO #2JS-Masterclass: FOMO-Trading #2 In the first FOMO tutorial, I have summarized the characteristics of a FOMO trader and explained contributing factors which encourage FOMO-trading. In this tutorial, I will compare the typical behaviors of FOMO traders versus disciplined traders and give tips to overcome FOMO-trading. FOMO TRADERS VS DISCIPLINED TRADERS The process of placing a trade can be very different depending on the situation in hand and the factors that are driving a trader’s decisions. Here is the trading cycle of a FOMO trader vs a disciplined trader – as you will see, there are some fundamental differences that can lead to very different outcomes. TIPS TO OVERCOME FOMO Overcoming FOMO begins with greater self-awareness, and understanding the importance of discipline and risk management in trading. While there is no simple solution to preventing emotions from impacting trades and stopping FOMO in its tracks, there are various techniques that can help traders make informed decisions and trade more effectively. Here are some tips and reminders to help manage the fear factor: • Be aware that there will always be another trade. Trading opportunities are like buses – another one will always come along. This might not be immediate, but the right opportunities are worth the wait. • Everyone is in the same position. Recognising this is a breakthrough moment for many traders, making the FOMO less intense. Join a social trading platform or a trading service to get in contact and share experiences with other traders – this can be a useful first step in understanding and improving trading psychology. • Have a trading plan and stick to that. Every trader should know their strategy, create a trading plan, then ALWAYS stick to it. This is the way to achieve long-term success • Taking the emotion out of trading is key. Learn to put emotions aside – a trading plan will help with this, improving trading confidence. • Traders should only ever use capital they can afford to lose. Always define your stop-loss levels before you enter a trade and always stick to that. This helps to minimize losses if the market moves unexpectedly. • Knowing the markets is essential. Traders should conduct their own analysis and use this to inform trades, taking all information on board to be aware of every possible outcome. • FOMO isn’t easily forgotten, but it can be controlled. The right strategies and approaches ensure traders can rise above FOMO. • Keeping a trading journal helps with planning. It’s no coincidence that the most successful traders use a journal, drawing on personal experience to help them plan. Overcoming FOMO doesn’t happen overnight, it’s an ongoing process. This article has provided a good starting point, highlighting the importance of trading psychology and managing emotions to prevent FOMO from affecting decisions when placing a trade.
BITSTAMP:BTCUSDEducation
by JS_TechTrading
1
Trading Psychology – FOMOJS-Masterclass – FOMO (Fear of Missing Out) Definition FOMO – Fear of Missing Out - is a relatively recent addition to the English language, but one that is intrinsic to our day-to-day lives. A true phenomenon that affects many traders and can be a major hurdle to become a successful trader. For instance, the feeling of missing out could lead to the entering of trades without enough thought, or to closing trades at inopportune moments because it’s what others seem to be doing. It can even cause traders to risk too much capital due to a lack of research, or the need to follow the herd. For some, the sense of FOMO created by seeing others succeed is only heightened by fast-paced markets and volatility; it feels like there is a lot to miss out on. To help traders better understand the concept of FOMO in trading and why it happens, this tutorial will identify potential triggers and how they can affect a day trader’s success WHAT IS FOMO IN TRADING? FOMO in trading is the Fear of Missing Out on a big opportunity in the markets and is a common issue many traders will experience during their careers. FOMO can affect everyone, from new traders with retail accounts through to professional and institutional traders. In the modern age of social media, which gives us unprecedented access to the lives of others, FOMO is a common phenomenon. It stems from the feeling that other traders are more successful, and it can cause overly high expectations, a lack of long-term perspective, overconfidence/too little confidence and an unwillingness to wait. Emotions are often a key driving force behind FOMO which can lead traders to neglect trading plans and disrespect their trading strategy. Common emotions in trading that can feed into FOMO include Greed, Fear, Excitement, Jealousy, Impatience and Anxiety CHARACTERISTICS OF A FOMO TRADER Traders who act on FOMO will likely share similar traits and be driven by a particular set of assumptions. Below is a list of the top things that guide a FOMO traders’ behavior: 1. Listen too much to the news. ‘They are all doing it so it must be a good idea’. 2. Be too much focused on potential profits versus thinking risk first. 3. Not sure but just let’s give it a go. 4. Getting frustrated in hindsight: ‘OMG, I should have seen this coming’. 5. This will be a great opportunity and if I do too much analysis, I will miss this great opportunity. What factors contribute to FOMO trading? FOMO is an internal feeling, but one that can be caused by a range of situations. Some of the external factors that could lead to a trader experiencing FOMO are: • Volatile markets. FOMO isn’t limited to bullish markets where people want to hop on a trend – it can creep into our psyche when there is market movement in any direction. No trader wants to miss out on a good opportunity • Big winning streaks. Buoyed up by recent wins, it is easy to spot new opportunities and get caught up in them. And it’s fine, because everyone else is doing it, right? Unfortunately, winning streaks don’t last forever • Repetitive losses. Traders can end up in a vicious cycle: entering a position, getting scared, closing out, then re-entering another trade as anxiety and disappointment arise about not holding out. This can eventually lead to bigger losses • News and rumours. Hearing a rumour circulating can heighten the feeling of being left out –traders might feel like they’re out of the loop • Social media. The mix of social media and trading can be toxic when it looks like everyone is winning trades. It’s important not to take social media content at face value, and to take the time to research influencers and evaluate posts.
BITSTAMP:BTCUSDEducation
by JS_TechTrading
Overcome Fear of Missing Out 🤮MAIN TALKING POINTS: What is FOMO in trading? What characterises a FOMO Trader? Factors that can Trigger FOMO DailyFX analysts share their FOMO experiences Tips to overcome FOMO WHAT IS FOMO IN TRADING? FOMO in trading is the Fear of Missing Out on a big opportunity in the markets and is a common issue many traders will experience during their careers. FOMO can affect everyone, from new traders with retail accounts through to professional forex traders. In the modern age of social media, which gives us unprecedented access to the lives of others, FOMO is a common phenomenon. It stems from the feeling that other traders are more successful, and it can cause overly high expectations, a lack of long-term perspective, overconfidence/too little confidence and an unwillingness to wait. Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Common emotions in trading that can feed into FOMO include: Greed Fear Excitement Jealousy Impatience Anxiety WHAT CHARACTERIZES A FOMO TRADER? Traders who act on FOMO will likely share similar traits and be driven by a particular set of assumptions. WHAT FACTORS CAN TRIGGER FOMO TRADING? FOMO is an internal feeling, but one that can be caused by a range of situations. Some of the external factors that could lead to a trader experiencing FOMO are: Volatile markets. FOMO isn’t limited to bullish markets where people want to hop on a trend – it can creep into our psyche when there is market movement in any direction. No trader wants to miss out on a good opportunity Big winning streaks. Buoyed up by recent wins, it is easy to spot new opportunities and get caught up in them. And it’s fine, because everyone else is doing it, right? Unfortunately, winning streaks don’t last forever Repetitive losses. Traders can end up in a vicious cycle: entering a position, getting scared, closing out, then re-entering another trade as anxiety and disappointment arise about not holding out. This can eventually lead to bigger losses News and rumours. Hearing a rumour circulating can heighten the feeling of being left out –traders might feel like they’re out of the loop Social media, especially financial Twitter (#FinTwit). The mix of social media and trading can be toxic when it looks like everyone is winning trades. It’s important not to take social media content at face value, and to take the time to research influencers and evaluate posts. We recommend using the FinTwit hashtag for inspiration, not as a definitive planning tool. As well as affecting traders on an individual level, FOMO can have a direct bearing upon the markets. Moving markets might be emotionally driven – traders look for opportunities and seek out entry points as they perceive a new trend to be forming. DAILYFX ANALYSTS SHARE THEIR FOMO EXPERIENCES Traders of all levels of experience have dealt with FOMO, including our DailyFX analysts: “Trade according to your strategy, not your feelings” – Peter Hanks, Junior Analyst “Strategize. Execute. Stick to the plan and don’t be greedy. All types of traders make money; pigs get slaughtered” – Christopher Vecchio, Senior Strategist “Trade decisions are not binary, long vs. short. Sometimes doing nothing is the best trade you can make” - IIya Spivak, Senior Currency Strategist “If you don’t deal with and temper FOMO in trading – it will deal with you” – James Stanley, Technical Strategist “No one trade should make or break you. With that said, if you miss an opportunity there is always another one around the corner” – Paul Robinson, Currency Strategist TIPS TO OVERCOME FOMO Overcoming FOMO begins with greater self-awareness, and understanding the importance of discipline and risk management in trading. While there is no simple solution to preventing emotions from impacting trades and stopping FOMO in its tracks, there are various techniques that can help traders make informed decisions and trade more effectively. Here are some tips and reminders to help manage the fear factor: There will always be another trade. Trading opportunities are like buses – another one will always come along. This might not be immediate, but the right opportunities are worth the wait. Everyone is in the same position. Recognising this is a breakthrough moment for many traders, making the FOMO less intense. Join a DailyFX webinar and share experiences with other traders – this can be a useful first step in understanding and improving trading psychology. Stick to a trading plan. Every trader should know their strategy, create a trading plan, then stick to it. This is the way to achieve long-term success Taking the emotion out of trading is key. Learn to put emotions aside – a trading plan will help with this, improving trading confidence. Traders should only ever use capital they can afford to lose. They can also use a stop to minimise losses if the market moves unexpectedly. Knowing the markets is essential. Traders should conduct their own analysis and use this to inform trades, taking all information on board to be aware of every possible outcome. FOMO isn’t easily forgotten, but it can be controlled. The right strategies and approaches ensure traders can rise above FOMO. Keeping a trading journal helps with planning. It’s no coincidence that the most successful traders use a journal, drawing on personal experience to help them plan. Overcoming FOMO doesn’t happen overnight; it’s an ongoing process. This article has provided a good starting point, highlighting the importance of trading psychology and managing emotions to prevent FOMO from affecting decisions when placing a trade. TURN YOUR FOMO INTO JOMO Now you know how to spot and stop FOMO in its tracks, find out how to embrace JOMO in trading and change your mindset for greater success. Source: DailyFX
OANDA:XAUUSDEducation
by Hsan_BenAhmed
2