Then that has nothing to do with avoiding FOMO
FOMO refers to greed as it gets aroused when the prices start to rise and people are desperately trying to jump on the bandwagon when it is already too late most of the time (the opposite of jumping the ship when the prices plunge). So it is not about closing your position because it is more about opening one. Put simply, you can't avoid FOMO by closing your position as this is simply beyond the scope of the entire FOMO idea. Just to make things a little bit more clear
FOMO refers to greed as it gets aroused when the prices start to rise and people are desperately trying to jump on the bandwagon when it is already too late most of the time (the opposite of jumping the ship when the prices plunge). So it is not about closing your position because it is more about opening one. Put simply, you can't avoid FOMO by closing your position as this is simply beyond the scope of the entire FOMO idea. Just to make things a little bit more clear
It has something to do with FOMO.
Imagine I'm a new trader and after closing my position (most likely when price rallies and gets to a potential reversal zone), I kept on watching this pair and next thing that happens is price breaks past my presumed "potential reversal zone", It is very possible FOMO happens; making me wanna get back in that trade cos I didn't get the most out of the market.
This is what I mean by "Taking my profit and not looking back". I do this to prevent FOMO and other emotions that can come alongside!
