-snip-
FOMO is another killer most beginners chase hype without strategy and only realize too late when their wallets are emptied or profits vanish they sell too early or hold too long without proper risk management the smart approach is to wait for favorable market conditions and for futures trading always use stop losses to protect capital. Practice and discipline matter far more than time spent trading some traders become experts within a year because they focus on learning, analyzing, and adjusting while others can spend five years making the same mistakes over and over it’s about quality of practice not just quantity of experience.
Those who are FOMO will not think to do a review and do risk management, it happens spontaneously and buys at a high price for fear of missing out on an upward price trend,
even though it is a trap as an exit liquidity for those who have entered at the beginning.
I have certainly experienced this kind of situation, becoming FOMO and then panicking by selling at a loss,
it has become a regret that is quite imprinted until now, because being FOMO and panicking it really damages psychology, let alone suffered quite a lot of losses.