The Fear of Missing Out means the syndrome when the tradesmen are thinking of how much money they could have made, but they didn’t because of missing fantastic opportunities, and they think this loss is irrevocable. Dealing with missed opportunities is a real challenge for traders, who can see which money have not reached their account.
Are you a FOMO trader? Check out if you say the following sentences from time to time:
“I knew!” – a trader who noticed the setup but did not use it
“Not this time.” – A trader who enters too early after a missed transaction
“I could have made so much money today” – trader meditating on profits in retrospect
“I’ve been waiting too long for this transaction.” – An overly anxious trader holding down the trigger.
“It still has room to go.” – a trader who is too late to jump into the deal because he was too scared to effect it in the beginning.
“I have a feeling…” – a trader justifying entry into a transaction that does not meet all the criteria
“This one time” – a trader in a speculative transaction hoping to get lucky
“I just enter with a small position.” – trader justifying breaking his rules