Fear of missing out
Have you ever bought at high?
After your entry price either went up just few points or reverse to opposite of your position, then we curse to our fate.
Isn’t it?
Actually its nothing but FOMO which is say synonyms of our emotional trading which can never allow us to win in the market.
We keep watching keep watching the price from the bottom and it has already run so much but suddenly our emotional thinking attacks on us and we start to think that today It would not get back. But after just your entry it reverse. WOOOOOOOOOOOOOO. MTM huge loss.
I am horribly unlucky.
Actually we show our patience till market reach at high but then we loss our control over emotions, see if there is a pattern there is no need to wait that long so that you could buy at high without any risk reward .
Better once pattern is ready get the entry and put stop loss and target .
Exit !! Exit!! if stop loss hit.
Book profit!! Book Profit !! if target hit.
Don’t allow your mind to dodge you while sitting before the terminal.
No Pattern No Entry is the only way to win in the market nothing else.