One of the most popular emotions among traders is a notorious fear of missing out,
or simply FOMO, which picks when the market is high.📈
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Watching the price of an asset soaring higher and higher, while out of the deal,
a trader often feels even worse than in case of losses.⚠️
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So, what exactly can you do to prevent emotion-connected issues?
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Accept the fact that you cant buy at the lowest and sell at the highest prices;☝🏻
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Dont be looking at the charts all the time;❌
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Use a trading plan ruling how to deal with profits and losses;📝
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Follow your own plans, dont compare your results with results of other traders too often.👨🏼💼
Pretty basic guidelines.
Whether you like it or not, emotions comes along your way while youre trading. You dont want to get rid of your emotions. Instead, learn from your emotional nature.
While, FOMO is very inevitable, since most of the traders are really working on making good profit.
This comes also the reason why you need to invest what you can afford to lose, to avoid too much emotional stress.