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FOMO

  • #1
  • First Post: Feb 18, 2023 11:03am Feb 18, 2023 11:03am
FOMO


The topic of FOMO is crucial for traders' success and confidence, and many struggle with it.
By openly discussing and exchanging ideas in this thread, we can help each other overcome it.

Experienced traders and professionals are encouraged to share their insights on the real meaning of FOMO and how to overcome it.
It's important to gather a variety of strategies to overcome FOMO since it's a common issue for every trader.

This thread will be kept short, limited to only three pages, to ensure that the content remains valuable and engaging. (nobody want to read 100 pages thread)
Thank you for supporting this thread, and I hope that we can provide great content to help everyone overcome FOMO.

Let's keep it brief yet impactful!
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I come from the future.
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  • #2
  • Feb 18, 2023 11:06am Feb 18, 2023 11:06am
Quoting Pat Chiko
FOMO The topic of FOMO is crucial for traders' success and confidence, and many struggle with it. By openly discussing and exchanging ideas in this thread, we can help each other overcome it. Experienced traders and professionals are encouraged to share their insights on the real meaning of FOMO and how to overcome it. It's important to gather a variety of strategies to overcome FOMO since it's a common issue for every trader. This thread will be kept short, limited to only three pages, to ensure that the content remains valuable and engaging. (nobody...
FOMO | fōmō | fear of missing out; a state of mental or emotional strain caused by not being included in something (such as an interesting activity) that others are experiencing.

While the solution to overcome FOMO may seem simple, which is to learn to trade, it's not always easy.
FOMO can significantly impact a trader's success and mental wellbeing.

However, the beauty of trading is that there's always something new to learn, and we're continually challenged to improve our skills.

A Short rhyme….
If you understand FOMO, and it is no longer a thing for you.
Then for you it is all about GIMO, Glad I missed out.
Which bring to JOMO , joy of missing out
As long none of this got to do with HOMO.
Then your will endulge with ROMO - Relief of Missing Out.

In summary, FOMO can be detrimental to a trader's success, but by constantly learning and adopting a positive mindset, traders can overcome it and find relief in missing out on certain opportunities.
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I come from the future.
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  • #3
  • Edited 11:20am Feb 18, 2023 11:09am | Edited 11:20am
I like JOMO. I can JOMO ALL DAY.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #4
  • Feb 18, 2023 11:09am Feb 18, 2023 11:09am
Quoting Pat Chiko
{quote} FOMO | fōmō | fear of missing out; a state of mental or emotional strain caused by not being included in something (such as an interesting activity) that others are experiencing. While the solution to overcome FOMO may seem simple, which is to learn to trade, it's not always easy. FOMO can significantly impact a trader's success and mental wellbeing. However, the beauty of trading is that there's always something new to learn, and we're continually challenged to improve our skills. A Short rhyme…. If you understand FOMO, and it...
What really happen during FOMO…… ?

Fear of missing out, is driven by the fear of missing out on potential opportunities.
The keyword here is "fear," as FOMO is essentially an anxiety caused by the perception of a threat.

The critical issue is not just missing a trading opportunity, but perceiving that missed opportunity as a threat to our success and future.
When we perceive a threat, our brains respond with a fight or flight response, triggering a stress response.

This can be problematic for traders who are constantly making decisions based on uncertainty and risk.
Therefore, understanding the root cause of FOMO and its impact on our mental state is essential for traders to manage their emotions and make rational decisions.

Maybe the secret to overcome FOMO is to permanently breaking any bad habit, is to love something greater than the habit.
Or we can do it with Creative visualisation .
Which can control our FOMO by visualisation of possible safe entry point within the trend and position sizing the risk

How much we need an edge as traders/investor because playing the market like everyone else just isn’t good enough, or we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable, will making it worse.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #5
  • Feb 18, 2023 11:12am Feb 18, 2023 11:12am
Quoting Pat Chiko
{quote} What really happen during FOMO…… ? Fear of missing out, is driven by the fear of missing out on potential opportunities. The keyword here is "fear," as FOMO is essentially an anxiety caused by the perception of a threat. The critical issue is not just missing a trading opportunity, but perceiving that missed opportunity as a threat to our success and future. When we perceive a threat, our brains respond with a fight or flight response, triggering a stress response. This can be problematic for traders who are constantly making decisions based...
Overcoming FOMO.

Key to overcoming fear is taking the threat out of the situation we're always going to miss opportunities.
Missing out on some big moves okay as we can only trade what we focus on and none of us has perfect focus so we want to take the threat out of that we which means we want to normalize that.

First

To combat the negative effects of FOMO, it's essential to practice positive visualization and relaxation techniques.
By visualizing peaceful and calming images, we can slow down our breathing and calm our body's physical response, which is the opposite of the fight or flight response caused by fear of missing out on trades.

However, it's not enough to merely change our behavior patterns in a Pavlovian way.
Instead, we need to change our thinking patterns and how we perceive missed opportunities.

Our thoughts create our responses, so if we view missed opportunities as a sign of failure or a threat to our development, we're likely to react negatively.
The cognitive approach suggests that we can learn new ways of thinking and processing information to overcome these negative thought patterns.
Through cognitive work, we can reprocess our thinking and reframe missed opportunities in a more positive light, leading to a healthier and more productive response to market movements.


Second

The desire to learn and grow is a stronger motivator for traders than the pursuit of profitability alone. Traders who focus solely on making quick profits are unlikely to sustain success in the long term, whereas those who are committed to continuous learning and development are more likely to become successful.

One of the key takeaways from this discussion is the importance of prioritizing consistent profitability over short-term gains when dealing with FOMO.

By taking a long-term perspective and comparing values, traders can maintain a more level-headed approach and make better decisions, rather than being swayed by the fear of missing out on a particular trade.

Third

Consistent practice and record-keeping are key to continuous improvement as a trader.
By setting and prioritizing a few specific goals and working hard to achieve them each day, week, and month, we can gradually accumulate small profits and stay motivated for the long term.

Inevitably, there will be times when trades don't go as planned and we become frustrated with losses or missed opportunities.
In these situations, it's important to evaluate our trading strategies and adjust them to the current market conditions.
Taking partial profits can also help to reduce anxiety and fear of missing out.

As one trader wisely put it, "steady drip fills the pot." - Waveskierrob. Sep 19, (19, Sept,2022)

This means that consistent effort and small gains can add up to significant long-term success, rather than relying on one big win.
As a beginner, it's important to focus on making many small profitable trades rather than risking everything on a single trade for the chance at quick riches.

Putting it into reality, is as a beginner day trader it's more important to be able to make 100 good trades at 5$ per trade, than one good trade at $500 if you get it from the beginning, numbers will add up naturally.

Good way of looking at it is by having a mindset when we missed a good trade and the 'what ifs' started singing in our mind.
"may you miss many opportunities and profit from many more"
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #6
  • Feb 18, 2023 12:59pm Feb 18, 2023 12:59pm
F.E.A.R.

False Expectations Appearing Real

This happens when you don't think there will be another opportunity. There is ALWAYS another opportunity.

There's nothing to fear.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7
  • Last Post: Feb 21, 2023 2:49am Feb 21, 2023 2:49am
FOMO refers to the fear of missing out. It is a kind of anxiety that an exciting or interesting event may be happening elsewhere. Some of the common ways to overcome FOMO in trading are to work on your trading psychology and try to keep your emotions in check.
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