Trading Psychology: How to Handle FOMO (Dr. Steenbarger)

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  • Опубликовано: 24 дек 2024

Комментарии • 504

  • @smbcapital
    @smbcapital  3 года назад +57

    Dr. Steenbarger's Blog: traderfeed.blogspot.com/

  • @BruceWayne-cz8ds
    @BruceWayne-cz8ds Год назад +11

    🎯 Key Takeaways for quick navigation:
    00:00 📈 Handling FOMO in Trading
    08:32 🏖️ Exposure Therapy for FOMO
    16:07 💭 Cognitive Work: Changing Thinking Patterns
    26:03 🔄 Broaden and Build: Balancing Life Portfolio
    28:27 🧠 Managing trading psychology and FOMO
    34:52 🚀 FOMO and trader intuition
    36:31 🧬 Personality traits and FOMO
    41:10 💰 Taking profits along the way
    43:10 🎯 Goal setting and consistency
    Made with HARPA AI

  • @kdc6884
    @kdc6884 3 года назад +295

    "The secret to permanently breaking any bad habit, is to love something greater than the habit." Great quote. 👍 good content

  • @adityadutt4744
    @adityadutt4744 2 года назад +97

    One of the most amazing and beautiful psychology lesson not just for trading but for the overall life.

  • @mikefriesdrums
    @mikefriesdrums Год назад +4

    My heart glowed when I heard Dr S drop the F bomb. I love it

  • @davidgonzalez8373
    @davidgonzalez8373 2 года назад +5

    Thank you all for being part of this production. Im a subscriber and look forward to more content.

  • @soumenbag6336
    @soumenbag6336 Год назад +1

    Consistent of profitability is more important than earning big PL in day to day.
    motivation should be learning not the PL. PL goes down it is even bigger opportunity.
    1> Exposure therapy: Visualize yourself in a threatening situation and try to relax through breathing. Repeat this exercise several times and eventually, it will become normal. It is applicable in any areas of life.
    2> USE ABCD technique: (A- trigger)you miss a trade, (B-tinking pattern that creat threat) you feel u r not good as others or others are getting ahead of you (C-consequences) you panic and you take an unreasonable decisions and do FOMO trade (D-) change the negative self-talk associated with missing a trade. Talk yourself the way you should talk to the person you care about the most.
    3> Get a life! Diversify your emotion. That keeps your mind in check.
    4> instead of defining you PL on money, define your PL by how much you learned and developed as a trader.

  • @MillerSusan-w1f
    @MillerSusan-w1f 26 дней назад +111

    I'm cautious about FOMO and the potential of a tulip mania scenario. What are the most effective strategies to diversify my $500k portfolio. It needs managing and i'm too busy to follow market trends.

    • @EvelynHarper-y3n
      @EvelynHarper-y3n 26 дней назад +2

      I'm cautious about FOMO and the potential of a tulip mania scenario. What are the most effective strategies to diversify my $500k portfolio. It needs managing and i'm too busy to follow market trends.

    • @Endurance-l3r
      @Endurance-l3r 26 дней назад +3

      A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.

    • @ZoeyBoni
      @ZoeyBoni 26 дней назад

      I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.

    • @Endurance-l3r
      @Endurance-l3r 26 дней назад +5

      I have worked with a few financial advisors before now but i ultimately settled for Kimberly Grace Flanagan . She is SEC regulated and licensed in US. You can easily look her up.

    • @ZoeyBoni
      @ZoeyBoni 26 дней назад

      Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

  • @billiezee
    @billiezee 3 года назад +138

    Never clicked on a video faster

    • @smbcapital
      @smbcapital  3 года назад +4

      haha

    • @stocksqna
      @stocksqna Год назад +4

      Didn't even blink.

    • @chambacavani837
      @chambacavani837 Год назад +14

      Same way you did when u entered that FOMO trade

    • @Lostjoyx
      @Lostjoyx Год назад +3

      click faster on the video than when I clicked buy or sell out of fomo

    • @stephennn403
      @stephennn403 Год назад +1

      Guys a video with stay on your plan guessing discipline can it be found?

  • @marisbiedris1694
    @marisbiedris1694 Год назад +6

    This is just awesome, amazing and unbelievable at the same time!!! By far the BEST video on trading psychology I have seen so far!! I can’t thank you enough Dr.Steenbarger!!!

  • @elsayedmahm475
    @elsayedmahm475 2 года назад +3

    I can't be more thankful for such a trading content !
    Thank you SMB, Thank you Dr. Steenbarger !

  • @anya9922
    @anya9922 2 года назад +16

    What an amazing person Dr Steenbarger is! I am reading his book “Trading Psychology”. Brilliant read!

  • @GenXBitch
    @GenXBitch 2 года назад +21

    I’m going to play this video in the morning every day I trade. Thank you! 🙏🏼

  • @TheUnbotheredAnalyst
    @TheUnbotheredAnalyst 2 года назад +4

    This is pure gold. Thank you for sharing!

  • @gchap7986
    @gchap7986 2 года назад +14

    I loved what Dr says- practice trading with visualisation. I am so happy someone at least i this world gives my idea a thumbs up! I developed a technique which i used to trade and i called it creative visualisation . I control my fomo by visualisation of possible safe entry point within the trend and position sizing the risk !

    • @aammssaamm
      @aammssaamm 3 месяца назад

      You need to control your skills. There is no "FOMO", it's you gambling, i.e. a desire to quickly grab some money without working hard.

  • @ashxior8406
    @ashxior8406 5 месяцев назад +1

    This was great on so many levels. You can use these techniques not only to become better as a trader but for a better life in general.

  • @leonh8920
    @leonh8920 10 месяцев назад

    Very clear communication skills and transparency

  • @DisambiguatedClarity
    @DisambiguatedClarity 5 месяцев назад

    One of the most interesting things about watching this is feeling like I already knew to do this, but have simply being unable/not cognizant enough the apply it. Thank you for this content.

  • @theresagarcia1218
    @theresagarcia1218 Год назад +483

    My strategy is; buy quality companies, expect to hold no matter what, pay up but don’t over pay, keep track, sell rarely, be ready to course correct.

    • @mayacho4910
      @mayacho4910 Год назад

      A lot of people think they should always be buying and selling something. That's a mistake. 99% of successful investing is waiting, learning, awareness/experience and getting extremely lucky with the market.

    • @theresagarcia1218
      @theresagarcia1218 Год назад

      @@mayacho4910I totally agree, although coming into the market i missed the experience part, but my current trader helped me. She turned my 40k loss, made me 70k in a month, if not for her, i can't even begin to imagine....., she actually does most of my trading, to be honest.

    • @mariahhayes5089
      @mariahhayes5089 Год назад

      @@theresagarcia1218 Exactly, i will never go into this market without guidance, please who is this coach that helped you, can you possibly do a referral?

    • @theresagarcia1218
      @theresagarcia1218 Год назад

      @@mariahhayes5089She is a licensed fiduciary in the U.S, i work with her to trade my securities.

    • @theresagarcia1218
      @theresagarcia1218 Год назад

      @@mariahhayes5089Just look with her name online, you will be directed to her page, there you can leave your messages.

  • @ryanbates362
    @ryanbates362 3 года назад +65

    This is great advice, as a beginner day trader I'm finally coming to realize it's more important to be able to make 100 good trades at 5$ per trade, than one good trade at $500

    • @pusico6555
      @pusico6555 3 года назад +6

      Math is your best friend. Hope is not your friend.

    • @nickosgood5447
      @nickosgood5447 2 года назад +1

      Preach it

    • @16WilliamR
      @16WilliamR 2 года назад

      Great, if you get it from the beginning, numbers Wil add up naturally.

  • @tradingbuddysystem7416
    @tradingbuddysystem7416 7 месяцев назад

    Wow, this was so good! Developing experiences of safety is critical in becoming a great trader who is more concerned about consistency and growth rather than P/L

  • @FXMV2012
    @FXMV2012 2 года назад

    Best guy in trading Psychology Dr Steenbarger, hats off to you and SMB!

  • @vincentstewart1843
    @vincentstewart1843 7 месяцев назад +9

    PLEASE ADVISE ME.
    I was told to spread my savings across different things like Trade to protect and support my retirement. with everything being shaky,I'm considering going into Trade. i don't wanna make the wrong choice.

    • @maureen...
      @maureen... 7 месяцев назад

      Ellen DeGeneres hosted Kate floretta on TV 2 yrs ago that was where I saw kate and followed up.i have also been attending her Trade seminars.

    • @Godwin_blessing_felix
      @Godwin_blessing_felix 7 месяцев назад

      you must have these things in mind
      1. Have a long term mindset.
      2. Be willing to take *risk*.
      3. Be careful, if you're not spending to earn back, then stop spending.
      4. Never claim to know - Ask questions and it's best you work with an assistant.

    • @Mayor1248
      @Mayor1248 7 месяцев назад

      Yo I didn't know Kate was this popular,my cousin trade with her for some months now, I tried but couldn't understand anything it's not my thing tho so I passed Lol. I can testify that trade pays very well because my cousin at 23 bought a house already.

    • @wendyrosee
      @wendyrosee 7 месяцев назад

      When it comes to Trade, I can confidently say that bitcoin is the best option. But most people think it's all about buying and leaving it to rise but It takes a lot more you need to trade it to earn daily.

    • @wendyrosee
      @wendyrosee 7 месяцев назад

      I think I might have came across the name on an interview last year where she spoke about finance.

  • @adityadutt4744
    @adityadutt4744 2 года назад +3

    Came here for getting rid of FOMO took some really great learnings 😊❤️

  • @eddiejimenez9299
    @eddiejimenez9299 Год назад

    I want to thank SMB Capital for this excellent presentation on Trader's Psychology - I have learned allot and with be putting ABCD into practice...

  • @lisahagerman1587
    @lisahagerman1587 Год назад

    Happy Birthday Brett....and many happy returns!!

  • @Battlesfordestination-777
    @Battlesfordestination-777 3 месяца назад +2

    When I miss an opportunity in the market, I just say to myself, "Market always moves, another opportunity is just around the gonna, and that calms me out.

  • @JenMarco
    @JenMarco 2 года назад +6

    My problem is the opposite. I always think I missed out and I’m too late to get in and it keeps going.
    I actually changed my thinking with missed opportunities as a positive. There’s opportunities every day and you can’t get them all so get the next opportunity tomorrow.

    • @Guru-yr4hr
      @Guru-yr4hr 2 года назад

      always decide levels and act on that like a robot

  • @donkeyface
    @donkeyface 2 года назад +1

    These Dr. Steenbarger videos are so great.

    • @donkeyface
      @donkeyface 2 года назад

      Does the magnitude of profitability just not matter at all? that can't be the case. but I get it!!!

  • @samuela-k5165
    @samuela-k5165 Год назад

    Amazing, thank you Dr. Steenbarger & SMB Capital for the recording!

  • @Prasannakumar-yk7bf
    @Prasannakumar-yk7bf Месяц назад

    Great Webinar. Thank you Dr. Steenbarger.

  • @elliot_waves3385
    @elliot_waves3385 Год назад

    This channel is very under rated. Excellent content

  • @wread1982
    @wread1982 Месяц назад +1

    Thank you sir! Excellent video 😊 May listen to this again

  • @mistersqueezeaaron2406
    @mistersqueezeaaron2406 2 года назад +1

    This week was a perfect example. I put a great trade on then walked away when it was going my way vs staying in a little longer and keeping my conviction and had I held it would have turned out to be the best trade of my life. There is of course times when I fomo and I do need to stop that. Thank you for the video.

  • @bullforcetrading9995
    @bullforcetrading9995 2 года назад +4

    Much respect for Dr. Brett!!

  • @cameronjohn604
    @cameronjohn604 2 года назад +4

    This man is world class for real. Thank you SO much Dr. S for sharing your wisdom and experience with the world. Cheers (non alcoholic cheers ;)

  • @nellischein4333
    @nellischein4333 Год назад +2

    This true real practice advice!!! I love it exactly what I was searching for! Thank you for this big eye opening advice

  • @Kaitrader
    @Kaitrader 2 года назад

    I love this guy - a leading authority in his field

  • @KarolKapuscinski
    @KarolKapuscinski 10 месяцев назад

    best trading psychology video ever watched!

  • @sandeep4440
    @sandeep4440 2 года назад

    Most to the point problem (“THE Problem”) addressed very appropriately

  • @GenXBitch
    @GenXBitch 2 года назад +3

    Great video! FOMO is absolutely killing me 😩 I keep trying though. What I love about trading is there is constantly something to learn. Just when i think i have it figured out it proves me wrong LOL

  • @NecklaceNancy
    @NecklaceNancy Год назад

    This has SO much Value Thank you for posting. I've been wondering why it seems like I have NO brains when trading live. In SIM my win rate is 80% and I'm relaxed, thinking clearly and having fun. (I'm new at this)

  • @vangilanteryan713
    @vangilanteryan713 2 года назад

    Excellent video. I might have to watch it again later. You can know all this, but without change in habit, it wont change. Specially in this market.

  • @mrmatias2618
    @mrmatias2618 2 года назад

    Very informative video. SMB Capital always provides us, Traders, with valuable direct applicable contents. 🇦🇴🇦🇴🇦🇴🇦🇴

  • @brezl8
    @brezl8 2 года назад

    this channel is a gold mine

  • @georgemavimbela
    @georgemavimbela 7 месяцев назад

    I will re-watch this. It's so profound

  • @seshafarmspalmarosa1267
    @seshafarmspalmarosa1267 2 года назад

    Brilliant piece of info .... thanks to SMB team to share it .....

  • @kryptoxfranco
    @kryptoxfranco 2 года назад +9

    Thanks for making trading psychology a specific topic. Really appreciated. Hope to see more related content in the future!

  • @jerrywest9320
    @jerrywest9320 6 месяцев назад

    Best trading video you've put out to date. Thank you

  • @markwngable
    @markwngable Год назад

    This video saved my life. thank you so much.

  • @markz4430
    @markz4430 2 года назад +1

    Great video, The best I have watched all year..

  • @desmondeddy1750
    @desmondeddy1750 Год назад +7

    I appreciate your approach of teaching.. To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green. I'm 47, and earn nothing less $150k per year, but nothing to show for it yet

    • @Margaret35577
      @Margaret35577 Год назад

      Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.

    • @SamanthaCarolyn5
      @SamanthaCarolyn5 Год назад

      Research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.

    • @Wellingtonluzia3
      @Wellingtonluzia3 Год назад

      @@SamanthaCarolyn5 Very true, a huge part of my portfolio growth has come during this bear market. I've been able to scale from $120K to $370K in a short period of time. I basically was just following the steps and guideline from my financial advisor *PATRICIA DRITA JOSEFINA* as long as you've professional help, you're good to go

    • @mohammeddumadi8323
      @mohammeddumadi8323 Год назад

      @@Wellingtonluzia3 That's impressive! I could use the expertise of this advisor, my portfolio has been stagnant..... How can I get started with PATRICIA DRITA JOSEFINA ?

    • @Wellingtonluzia3
      @Wellingtonluzia3 Год назад +1

      *PATRICIA DRITA JOSEFINA* is the advisor that guides me, She has years of financial market experience and she is also FINRA & SEC verifiable, You can look her up internet &, message are there

  • @mo1amri238
    @mo1amri238 2 года назад

    Amazing insight from the gentleman,drilling diwn to the core of FOMO

  • @nat-henry
    @nat-henry 2 года назад

    Thanks Dr Steenbarger for the insight, and SMB for sharing it with us!! Much appreciated. I've read his Daily Trading Coach but am always glad to revisit,..

  • @christiankleinramos7988
    @christiankleinramos7988 2 года назад

    I could watch this all day.

  • @sachinvishwakarma3680
    @sachinvishwakarma3680 4 месяца назад

    11:40 its a great quate so what is better habit than fomo related to P/L Replased by process follow hibe yourself rating out of 10 while trade.

  • @casanova1012
    @casanova1012 3 года назад +35

    Measure yourself based on consistent profitability, not magnitude of profitability, love it

  • @georgenormanham6363
    @georgenormanham6363 2 года назад +1

    Growth and development makes us more successful in the long term

  • @madimakes
    @madimakes 7 месяцев назад

    SMB always with the goods

  • @jaysharma9664
    @jaysharma9664 3 года назад +7

    P&L should never be the measure of our self worth and our abilities, big lesson.

  • @JosephCordero2
    @JosephCordero2 3 года назад +28

    This is absolute gold. This will make me a better trader.

    • @smbcapital
      @smbcapital  3 года назад +1

      thx Joseph!

    • @BusinessFinancialNetwork
      @BusinessFinancialNetwork 3 года назад +1

      🥇

    • @JosephCordero2
      @JosephCordero2 3 года назад +2

      @@smbcapital no thank you!

    • @pipgodduncan8292
      @pipgodduncan8292 2 года назад +1

      Did it?👀

    • @JosephCordero2
      @JosephCordero2 2 года назад +3

      @@pipgodduncan8292 Absolutely, 2 months later and I have improved my profitability, and my overall cognitive health. I recommend practicing the mindfulness exercises, and re-watching this every quarter. Good luck to you!

  • @mcitron3534
    @mcitron3534 2 года назад +1

    That was a great video. I’ll be watching again with my journal. It’s always so interesting the mind body relationship.

  • @josejunior991
    @josejunior991 3 года назад +27

    Thank you Dr. Steenbarger. Valuable lessons to take onboard and mediate on them always.

    • @smbcapital
      @smbcapital  3 года назад +3

      thank you! so much value here!

  • @JonathanSebastian407
    @JonathanSebastian407 2 года назад

    This guy speaks so nicely!

  • @frogface2347
    @frogface2347 Год назад

    Absolutely top notch advice here. Thank you sir.

  • @JuanAlonsoHernandez
    @JuanAlonsoHernandez 2 месяца назад

    This is gold, thank you!

  • @jathanclark
    @jathanclark 2 года назад +7

    Awesome video! This may be the best lecture on trading psychology I’ve ever seen. Thank you for posting - you’ve inspired me to spend some time and create concrete, actionable goals to improve my trading skills

  • @RandomFF1
    @RandomFF1 2 года назад

    i am feeling like dr steenbarger is talking about me...mind blowing

  • @pinkpill7432
    @pinkpill7432 2 года назад +1

    I needed to hear this.

  • @StreamwaveProduction
    @StreamwaveProduction 4 месяца назад

    Thank you very much Dr.

  • @mariachisfrustrados
    @mariachisfrustrados 3 месяца назад

    great talk , it was exactly what i needed,

  • @rohitrox8
    @rohitrox8 10 месяцев назад

    Amazing! Just need the real life implementation of this..

  • @SATISHSHARMA-im7fe
    @SATISHSHARMA-im7fe 2 года назад

    Thank you sir for all the giving ...... So much to learn

  • @HardySedan
    @HardySedan 7 месяцев назад

    Thank you, that is so helpful! Not only for trading...

  • @sivanandarao
    @sivanandarao 2 года назад +1

    Thank you for sharing amazing . Tq SMB and dr. Steen

  • @Milen983
    @Milen983 6 месяцев назад

    There is also impulsiveness that has nothing to do with being disciplined. One can be overall disciplined but impulsive when the thought comes they don’t think at the moment and act on impulse if they think, they are thinking that at the moment it either doesn’t contradict to their rules or is an exception of the rules situation. Then they lose and can lose big.

  • @michigan1947
    @michigan1947 2 года назад

    Awesome insight and sharing! Thank you so much!!

  • @FrenchChefatYourHome
    @FrenchChefatYourHome 6 месяцев назад

    please invite him again, more important than print money! thanks

  • @AnthonysTradingChannel
    @AnthonysTradingChannel 3 года назад +37

    The longer I’ve been trading, the more interested I am in trading psychology.

  • @ChitChatBFF
    @ChitChatBFF 2 года назад +2

    Man, I wish I saw this video a month ago lol
    But seriously, brilliant man

  • @Laszlo-Szabo
    @Laszlo-Szabo Год назад

    This man is a legend! 😎

  • @monty510
    @monty510 8 месяцев назад

    Thank you SMB 🙏

  • @samirghailan1243
    @samirghailan1243 2 года назад +1

    Thank you Dr Steenbarger for these amazing lessons! Cant believe i haven't watched before some real Psychology gems appreciate the video, thanks! 😎

  • @JosianeMARIE-zz8dc
    @JosianeMARIE-zz8dc 6 месяцев назад

    Связка просто топчик, респект!

  • @charlesoparah3178
    @charlesoparah3178 Год назад

    SMB please post latest and not old videos. Thank you

  • @weswright2796
    @weswright2796 2 года назад

    Love that guy. Thanks for posting!

  • @arthurapoli
    @arthurapoli Год назад

    Thank you for Sharing this watch this couple of times.
    🙂

  • @mikeanis8554
    @mikeanis8554 3 года назад +34

    What a treat to have this meeting shared with the community. Such value in how Dr S shares his knowledge and psychology wisdom, I lost track of the positive takeaways here. Thanks Dr S & SMB for sharing this video!

  • @rewritereality394
    @rewritereality394 2 года назад

    Thank You Dr S n SMB

  • @TheShadow_850
    @TheShadow_850 2 года назад +1

    Killer info!! thanks mike and dr steen , very much appreciated!!

  • @digger5521
    @digger5521 2 года назад

    Awesome presentation got a lot out of it. Spelling error at 26:59 . I have to work on being so pedantic :)

  • @MarcosBedaque
    @MarcosBedaque 3 месяца назад +1

    Thank you.....

  • @iklilkonyalilar4161
    @iklilkonyalilar4161 Месяц назад

    Thank you for such great Video&Advices🥰😇🥰

  • @sebastianpax3555
    @sebastianpax3555 2 года назад

    This was all very interesting until it reached "Just visualize to fix this".... What about the people who can't visualize? Any advice for them?

  • @olarius650
    @olarius650 2 года назад

    Can I apply quit smoking mindset to getting rid of bad habits in trading? Are they even close in some ways?

  • @erguerrero
    @erguerrero 7 месяцев назад

    Awesome info, thanks a lot.

  • @georgejoseph572
    @georgejoseph572 3 года назад

    This is not the first I am watching it. But it is the first I truly get it. I noticed this is one my biggest setbacks in my development progress. Thanks Dr. S. Thanks Mike

  • @alejandromarcos3782
    @alejandromarcos3782 7 месяцев назад

    anyone here has access to the personality tests Dr. Steenbarger mentions in the video?

  • @devilisbackk
    @devilisbackk 2 месяца назад

    It's been a year since i placed any order however i sit and watch the market everyday hours together 😅

  • @suli5109
    @suli5109 3 года назад

    Best Trading psychologist in the world for a reason