It has been a while since I've had FOMO. I'm pretty much at peace now and know there will always be a better trade, another opportunity. No longer do I jump into trades for the fear of missing out. I am content knowing I am missing out all the time.
If you haven't conquered FOMO yet then I suggest you look at your trading plan and your routine. A well informed and prepared trader has to be confident. If you are not confident then that means your trading skills or mind set isn't there yet.
Confidence Boosters:
- a Clear Big Picture
- Trendline Analysis on ALL timeframes
- studied the Currency Pair for some time
- gauge upcoming financial news impact
- gauge upcoming sessions open and closes and their impact
- a tested and proven entry plan
- a tested and proven confirmation
- an alert or signal system that keeps you connected when away from the charts
- a tested and proven risk reward ratio (TP / SL, Lot Size)
- reasonable lot size that has been gradually increased
- a tested and proven exit plan
- a bank account that can weather several consecutive losses
- ability to monitor your trade remotely
