Fear of missing out - Page 147
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Thread: Fear of missing out

  1. #1461
    Trader Doge's Avatar
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    We can successfully handle the fear of missing out with trading very small volumes every time we get to feel this fear, but conditions are not right according to our strategy (we need to have one, even if its some very broad rules). It's important to acknowledge the educating purpose of this tactic - we open these trades so we see what will happen after the situation in question. After we experience a similar thing a few times we will know what happens and there will be no more need to open these trades. The fear will be gone.
    Wow. Much Forex. So Monies. Very Opportunity.Many Trade. So Amazed. Wow.

  2. #1462
    FOMO is quite popular among Forex traders. In most of the cases it is cause by previous mistakes and their wrong analysis. It isvery important for each trader to develop a set of rules that would be applicable for the situations that may occur during trading.
    For sure, trader should be open-minded to be able to benefit from new trading opportunities, but at the same time it is necessary to act strictly in accordance with the rules of trading system that confirmed its efficiency.

    By the way, sometimes it is better to use market orders because you can miss a great trade trying to get a position for a bit lower price.

    One of the most common things caused by FOMO is looking for unusual trading opportunity after missing one. It happens when trader just missed a huge movement and wants to participate in the next one. Of course, it is normal for the trader to look for the trades with best risk-reward ratio, but sometimes it turns into opening new positions based just on hope and belief without any strategy or reasonable idea. This approach could lead to substantial losses if the trader wouldn`t be able to deal with such emotions. The best solution would be to take a rest and perform proper analysis of market situation to develop detailed rules that would be useful in such situations.

  3. #1463
    Trader DONRJ's Avatar
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    with all my respect to all opinion i prefer get SL about Point whenever whatever happening, cuz no one can be certin 100%

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