Short Term Trading Weekend Lounge: 23-25th Feb, page-60

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Brumbie

2,979 Posts.

866

24/02/18

17:47

Post #: 31316293
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Originally posted by mouse ↑

It's not that it's hard question, it's more of that fact what do you want to do about it ?

When i first started out, i was jumping in and out of stocks like crazy, having done FA on the ones i owned and sitting waiting, i couldn't help jumping in to others that where on the pump. But quickly i learned my timing was all wrong. By the time i jumped in, the gains where relatively small and the chart was to far extended and i would end up selling at a loss, was even worse when the stock i sold out of started to run.

At that point, i got sick of losing trades and fomo, so i sat back on my well researched stocks and waited.

After awhile i still had some fomo but instead of trading in and out, i wanted a way to make fomo my bitch.

There was only a few way's to do that, 1 is have money on the side for other stocks and 2 learn to buy the break out rather then sitting on stocks for to long and buy the pull backs rather then the pumps.

I think it all comes down to what type of trader you want to be and also how much time do you want to invest in learning the deferent ways of trading. All styles take time to learn, i would say about a year of full time learning, well that was how long it had taken for me to learn the basics of TA, even then it's not all levels of TA that i learned, just learned what worked with my style of trading.

I don't think there is anything wrong with a little bit of FOMO, if anything it should tell you that you have timed your entry wrong with the stocks your holding. If you don't know that you have timed your entry wrong, then you need to learn how to read break outs on a chart. If you can't do that, then your plan of trading while having fomo will blow up your account so just sit tight on the stocks you own if you think they are decent.

The biggest position you should take is in your self, learning and working out what works for you IMO

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Hahaha !

"make fomo my bitch"

That's gold. Pity it won't fit on a number plate.
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