FOMO = Fear of Missing Out
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FOMO Trading situations:
1. Trading before generating trading signal
2. Entering too Late in a Trade
3. Chasing Price Movements
4. Trading with News / Rumor etc.
5. Overleveraging, Ignoring Lot size & over loading
6. Shifting among trading methods
7. Trading without proper homework
8. Overconfidence in Predictions
9. Overtrading in Volatile Markets
10. Neglecting trading discipline
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Bad effects of FOMO trading:
1. Hits Stop Loss / Face Loss
2. Increased Transaction Costs
3. Increases Psychological Stress
4. Portfolio Value Decreases
5. Face dangerous draw down
6. Fails to achieve long term trading goals
7. Forces to revenge trading
8. Keeps you away from learning / reading
9. May cause to wipe out the equity.
10. Grows bad habits of FOMO Trading Situations
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How to Avoid FOMO Trading:
1. Believe That You Can't Catch Every Move
2. Remember Past Experience of Losses
3. Do homework & Stick to a Trading Plan
4. Focus on Long-Term Success & Trading discipline.
5. Focus on Discipline
6. Trading on matured trading signal avoid late entry & chasing
7. Stay away from News / Rumor etc.
8. Avoid Overtrading, Overleveraging & over loading
9. Use proven & Tested trading methods only.
10. Don’t be Overconfident in trading
1. Trading before generating trading signal
2. Entering too Late in a Trade
3. Chasing Price Movements
4. Trading with News / Rumor etc.
5. Overleveraging, Ignoring Lot size & over loading
6. Shifting among trading methods
7. Trading without proper homework
8. Overconfidence in Predictions
9. Overtrading in Volatile Markets
10. Neglecting trading discipline
-----------------------------------------------------------
Bad effects of FOMO trading:
1. Hits Stop Loss / Face Loss
2. Increased Transaction Costs
3. Increases Psychological Stress
4. Portfolio Value Decreases
5. Face dangerous draw down
6. Fails to achieve long term trading goals
7. Forces to revenge trading
8. Keeps you away from learning / reading
9. May cause to wipe out the equity.
10. Grows bad habits of FOMO Trading Situations
-----------------------------------------------------------
How to Avoid FOMO Trading:
1. Believe That You Can't Catch Every Move
2. Remember Past Experience of Losses
3. Do homework & Stick to a Trading Plan
4. Focus on Long-Term Success & Trading discipline.
5. Focus on Discipline
6. Trading on matured trading signal avoid late entry & chasing
7. Stay away from News / Rumor etc.
8. Avoid Overtrading, Overleveraging & over loading
9. Use proven & Tested trading methods only.
10. Don’t be Overconfident in trading