Haha, I have a rule. I trade early before market opens around 4-7am. If I'm up over $100 by 8am, no more trading. You want to know how many times I broke that rule and went on to a loss. A big loss due to revenge trading. Its alot haha. Helpful videos, thanks.
I feel it, these trend days can really bring out the fomo. Important part is realizing you fomo'd and got out once you did. In the abridged words of Jared Tendler: the worst trades you can ever make is a bad trade that closes in profit. This sets up a bad habit in thinking that poor setups can still net you your TP and primes you for poor trading later. Glad you noticed it before too long and even though it wouldn't netted you profit, it's better to set yourself on a healthy path! Working on that myself as my habits are a little more inset lol.
Would you say FOMO could still be good depending on the actual trade abd that you should just decipher the difference of when it's actually bad? Reason being is there are a lot of good setups that create fast strong moves, such as gap break trades, so you gota be ready to get in quick to catch the high quality trade. However, it's different when the urgency isn't backed up by a high quality setup, but backed up by chasing a move simply because you see the market move in a certain direction.
Well I would say it takes a lot of self awareness to decipher when you are fomoing into a trade or not. But I agree with you, you do need to be ready to catch another trade if it presents itself. I guess it’s not good to fomo, but your ability to “forget” the last trade, and reset your mind, and enter objectively later if the price action calls for it
@@themikwebber you were going on about the market being choppy and all - and then I thought ok fair enough...what do you expect on m1 candles...its like trying to throw a bullseye on a dart board nailed to a moving train.
okay okay okay so.... bro... I gotta say this.... you are WAYYYYY too emotional as a whole for one. Two. Lower time frames will make you wanna put a rusty lawnmower blade through your eye socket IF you have a broker with high spreads. STOP lower time frames less than M15 UNLESS you have zero spread an ECN broker. Then check your higher time frames with your indicators SET to the settings that work with that timeframe. Lower timeframe indicators do NOT work unless they are backed up by another indicators. Usually at least 5 for M1. the higher the timeframe the less indicators you need if you have the right settings. I have 47 and 46 of them have a possibility of being wrong. Take that into perspective and also take a deep breath and don't trade any money you don't care about losing.
Were you in the Livestream?
Saw this live! Managed your emotions well though.
@@asianbabytrader thanks for coming by. I can see you and I being the next gen traders on here.
@@themikwebber Let’s go! I took a screenshot to look back when it happens.
Haha, I have a rule.
I trade early before market opens around 4-7am. If I'm up over $100 by 8am, no more trading. You want to know how many times I broke that rule and went on to a loss. A big loss due to revenge trading. Its alot haha. Helpful videos, thanks.
Of course my friend. That psychology is crazy hard to get down lol
I feel it, these trend days can really bring out the fomo. Important part is realizing you fomo'd and got out once you did. In the abridged words of Jared Tendler: the worst trades you can ever make is a bad trade that closes in profit. This sets up a bad habit in thinking that poor setups can still net you your TP and primes you for poor trading later.
Glad you noticed it before too long and even though it wouldn't netted you profit, it's better to set yourself on a healthy path! Working on that myself as my habits are a little more inset lol.
Sounds like we got our work cut out for us with you ;)
^ Very well said- or I guess by Jared Tendler haha!
Love the honesty. Sorry I missed the live stream
You should be sorry
Nothing felt good. That’s the problem. Your trading should not be based on your feelings. Get the strategy.
thanks user
Good stuff my man
Thank you very much guy
Would you say FOMO could still be good depending on the actual trade abd that you should just decipher the difference of when it's actually bad?
Reason being is there are a lot of good setups that create fast strong moves, such as gap break trades, so you gota be ready to get in quick to catch the high quality trade.
However, it's different when the urgency isn't backed up by a high quality setup, but backed up by chasing a move simply because you see the market move in a certain direction.
Well I would say it takes a lot of self awareness to decipher when you are fomoing into a trade or not. But I agree with you, you do need to be ready to catch another trade if it presents itself.
I guess it’s not good to fomo, but your ability to “forget” the last trade, and reset your mind, and enter objectively later if the price action calls for it
Do you cover BTC? Here for the same journey📈
Not currently but I do want to start getting back into some crypto stuff!
Momo causes FOMO!
Foshomo
m1 candles lol. 😂
Thanks Dick
@@themikwebber you were going on about the market being choppy and all - and then I thought ok fair enough...what do you expect on m1 candles...its like trying to throw a bullseye on a dart board nailed to a moving train.
okay okay okay so.... bro... I gotta say this.... you are WAYYYYY too emotional as a whole for one. Two. Lower time frames will make you wanna put a rusty lawnmower blade through your eye socket IF you have a broker with high spreads. STOP lower time frames less than M15 UNLESS you have zero spread an ECN broker. Then check your higher time frames with your indicators SET to the settings that work with that timeframe. Lower timeframe indicators do NOT work unless they are backed up by another indicators. Usually at least 5 for M1. the higher the timeframe the less indicators you need if you have the right settings. I have 47 and 46 of them have a possibility of being wrong. Take that into perspective and also take a deep breath and don't trade any money you don't care about losing.
Thanks