Wednesday, 22 April 2015


Watching the Shark Tank today Mark Cuban mentioned "FOMO".  The fear of missing out.  If you are a Forex trader, you know where I'm going next...  Fear and Greed.

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