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Top Trading Lessons: Try to Avoid FOMO

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Top Trading Opportunities in 2021

Top Trading Opportunities in 2021

Recommended by Daniela Sabin Hathorn

Get Your Free Top Trading Opportunities Forecast

I think an important aspect of markets in 2020 has been trying not to get FOMO (Fear of Missing Out) when volatility was shooting up and “easy profits” could be seen flying around. More than once I have found myself placing a trade based on a news headline and the subsequent market reaction, without thinking out the logic behind the market move or my trade, leading to painful losses and a feeling of foolishness for allowing myself to go with the flow rather than set up a strategy behind a trade, meaning my risk-reward ratio was completely off. Although it’s going to be hard to avoid the temptation to try and make a quick profit when markets are moving significantly, my goal going into 2021 is to think about a strategy before placing a trade, regardless of the timeframe I have in mind for said position.

Top Trading Lessons

Top Trading Lessons

Recommended by Daniela Sabin Hathorn

Top Trading Lessons

— Written by Daniela Sabin Hathorn, Market Analyst

Follow Daniela on Twitter @HathornSabin



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