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15 Jun F.O.M.O. Fear of Missing Out

Posted at 18:17h in Blog, THE WTF REPORT ARCHIVE by

Are you a life long sufferer of F.O.M.O. ?

 

 

Are you a lifelong sufferer of F.O.M.O. ? 

Then you have come to the right place!

 
 
To be a successful trader and investor, this is the first and most important mindset lesson you must learn in the markets.  If you are looking to making it to Time Freedom, you must face this head on out of the gate.  F.O.M.O is the most debilitating “thinking” a trader can do.  More money has been lost chasing F.O.M.O. than real trades ever have. (IMHO).
 
This will be at the root of the quality of your true discipline as a trader.  So lets get to work on the most important asset you have: Your confidence in “How to think!”
 
By definition F.O.M.O. = The Fear of MISSING OUT = Anxiety that an opportunity or event may currently be happening elsewhere.
 
Nothing has caused investors and traders more stress in the stock market than the notion of F.O.M.O.:  FEAR OF MISSING OUT.
 
Have you experienced:
  • Chasing a stock up, only to have it roll back down on you.
  • Trying to get revenge on a stock that ran up after you got out on a pull back and get stuck on the top of the FLAG POLE!
  • Sitting on the sidelines watching the market go up, thinking it can’t go much higher… and it does!
 
If you have thought these thoughts… then you have experienced F.O.M.O!
 
But lets break this down into two (2) parts to diagnose the problem before we write the prescription.
 
1. FEAR = False Evidence Appearing Real
 
2. MISSING OUT = Thinking you are missing out when you are failing to see the NEXT opportunity. 
 
Breaking your trading rules and your mindset over the frustration of a stock making a move without you and your clamoring to get in, is one of the most painful and detrimental fears imaginable in the stock market.  These are just some of the psychological “land mines” you have to identify and conquer in the stock market.
 
With Time Freedom Trading, we approach these issues head on in our TRADING MINDSET portion of the class.
 
So…whats the prescription for F.O.M.O. in trading:
  • CHANGE HOW YOU “THINK” about the market.  THINK from a point of view of Abundance… not scarcity.
  • QUALITY is BETTER THAN QUANTITY: Only make trades that meet your criteria and trading discipline.
  • LOVE the Feeling of MISSING OUT! 

 

You saw the move / trade based upon your criteria. Instead of beating yourself up on it, embrace it.. AND  get in position for the reversal. Cheer it on up!! You can catch it on the way back down. If your technical indicators are sound and you trust the process… WAIT for your set up (bullish or bearish)

Remember, the stock market and prices oscillate. Embrace it and get in sync to trade a portion of the move. 

 

“So what if you missed the move in the latest meme stock!!”  There is always another bus coming. 

THINK  from a point of abundance… not scarcity. 

This will improve your discipline and ability to wait for your setup and trade the move!

 

 

 

I’ve found that the big money was never made in the buying or the selling. The big money was made in the waiting.

– Jesse Livermore

 

#F.O.M.O NOMO

www.TIMEFREEDOMTRADING.com

Compounding Wealth for LIFE

It’s a wonderful journey!

 

 

 

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