FOMO is a common thing as a newbie but becomes a real problem when you don’t control it over time. It okay to FOMO when you have done reasonable investigations. For instance, the token just got a major deal, or a great partnership. But when you FOMO for no reason, that’s unhealthy for your trading .
Learn how to Control your Emotions
These are some tips to help if you are always on FOMO. Let’s start with Controlling your emotions, we are all humans and sometimes we can’t control our emotions, but it’s something that needs self discipline. Emotions and trading doesn’t mix well at all, it can cause a lot of regrettable actions. When the feeling of FOMO comes rushing in, you need self discipline to control your emotions and let your self know that it’s a normal thing and it should be nothing you should act on without proper due diligence or investigations.
Have a Trading plan and stick to it
This is another part of self discipline, and it involves sticking to your trading plan. The best traders have a trading plan they follow and stick to. When you deviate from it, most times it ends badly and could be one of the worst decisions to make.
Follow Risk Management
This is also very important, use proper risk management to control your losses so you can make a lot of profit.
Comparing yourself with others
This is very bad, because when you do this, you subject yourself to a bad mental health. You should know that everyone is on their unique trading journey. Other people’s trading experience should be a motivation and lesson for you to learn. Don’t allow yourself be distracted by other people’s doing. Yeah
insightful and helpful read, thanks for sharing this article!
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You are welcome. My pleasure