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One trick to deal with FOMO
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Are You A FOMO Trader? One trick to deal with FOMO (fear of missing out). You take a trade just because you don't want to miss the move. Many traders use this tactic and its quite effective. Say you want to buy on a breakout of the trend. It happens but the setup maybe doesn't tick all your boxes and doesn't really fit your criteria. So your inner voice tells you not to take the trade but another voice keeps telling you 'you're going to miss this' and that's the FOMO's voice. The trading plan tells you to ignore this voice but we're humans and we make errors. So how can we mitigate this? How do we address the trader's fear of missing out? OK.
#fomo #fear_of_missing_out
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