#fomo #forexsecrets #forex #daytrading
FOMO (Fear Of Missing Out ) is the Number One Reason Beginner Forex Traders Blow their Accounts. So on this video today I cover steps you can take to prevent going through the circle of the Fear of Missing out and how to trade like a professional Forex Trader with no emotions involve. This video will also help to boast your forex trading psychology.
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⏰ Time Stamp ⏰
01:21 The Dangers Of FOMO
04:42 Lack Of A Trading Plan
07:35 Importance of a Forex Check List
09:31 Learn How To Preserve Your Capital
⏰ Time Stamp ⏰
Meta Trader 5 and Meta Trader 4
FOMO is the acronym for “Fear Of Missing Out”.
It is the fear of missing out on the profit you might make if you don’t buy a cryptocurrency ASAP regardless of its current price.
The cryptocurrency market is driven more by emotions rather than rationality, so FOMO is a huge factor to consider when trading FOREX.
The concept refers to the feeling of anxiety or the idea that other people are sharing in a positive or unique experience while you are missing out.
It is a phenomenon that is quite prevalent in social media, with the feeds from others often highlighting and emphasising the positive and rewarding parts of their lives, leading the reader to feel sad or inadequate with their own experiences.
In the context of financial markets and trading, FOMO refers to the fear that a trader or investor feel by missing out on a potentially lucrative investment or trading opportunity.
The FOMO feeling is particularly prevalent when an asset rises in value significantly over a relatively short time.
This has the potential for an individual (and the market community as a whole) to make market decisions based upon emotion (the fear of missing out) instead of logic and reasoning.
It is especially dangerous for the undisciplined retail investor, as it can often lead to a situation where trades are made for an asset that is overpriced, incurring much greater risks of financial losses.
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