We’ve all been there.  In fact, it probably happened some time this past week. We scan our stocks list and find several stocks that experienced big moves without us.  We then feel like we’ve missed something.  Ah. The fear of missing out which is really the fear of looking stupid. It is easy to see after the fact.  To make matters we usually jump into these stocks after the big run, only to find that, more often than not, we have jumped in at the very end.  Something else happens.  We begin believing that these big moves can be predicted, if we only have the right indicator or combination thereof.  Uh oh.  That’s when the real trouble begins.  For you see, the fear of missing out is about the ego not getting what it feels it deserves and what the ego deserves is to be the first one in with the right recipe for success…every time.  Being the first in and the first out with the most money rarely happens.  When, and if, it does it will be an outlier…and event that happens on such a rare occasion that long term, consistent profitability is a dream at best; a nightmare at worst.

How do we deal with the fear of missing out?  The following resources may help.

Fear of missing out (FOMO) refers to the apprehension that one is not in-the-know or one is out of touch with some social events, experiences, and interactions.

As the market continues to run in one direction without providing many pauses or pullbacks to get on, the annoyance and frustration typically builds within the trader.  As this frustration grows, the Fear of Missing Out takes over.

Very, very often the consequence of a perceived missed opportunity is a bout of angry thinking turned inward.

What new traders need to understand is the fear of missing out is only a fear.

How to combat the fear of missing out on opportunity and stick to your game plan.

The opposite of the fear of losing money, is the fear of losing potential profits.

David Blair

THE CROSSHAIRS TRADER
www.thecrosshairstrader.com

*no relevant positions