And are you a victim of it, you don’t know what that is? Well, day traders stick around because this is crucial for you.
All right, ready to find out what FOMAT is? Fear of missing a trade. You know, we’ve heard FOMO, fear of missing out, well, for traders, it’s fear of missing a trade, and it is a deadly fear. How do we know it’s a fear? Because we are chasing trades left and right.
Let me give you a little hint really, really quickly. There is always, always, always another trade coming. I do not care if you are a swing trader, and you have to sit around and wait for trade for two weeks, or if you are a scalper like me going in for trades that are three to five minutes, sometimes I have to wait around a couple of hours. Big deal. Fear of missing a trade.
You know what happens with the chasing of a trade. We get in a trade too late because we feared that we are missing out on that trade. We get in right in time when it turns against us. And guess what? We’re sitting out after that. Instead of fear of missing a trade, we should be feared of losing money for no good reason. And that’s exactly what happens when we’re fearing of missing trade. It’s just how it goes, right.
So look at it this way. There is always, always, another trade coming. This is, this all stems from a scarcity mindset. Fear of missing out on anything is a lack, it is from scarcity. And we don’t need that in our lives. The world is an abundant place. There is an abundance of trades. There is an abundance of everything. However, if we’re going to be constantly chasing trades and losing money on these trades that we are chasing, you know what’s going to happen?
We’re going to empty our bank accounts and that, and that is how we’re going to be truly missing out on life. So don’t be a victim of FOMAT and remember this. There is always another trade coming. So if you guys are having any problems with this and not getting it. Write me, write me at The Trader Chick, I’ll be happy to talk to you about it, because guess what? I was horrible at the fear of missing the trade, FOMAT ruled my life.
I wasn’t getting filled on the trades I wanted. I was chasing other trades. I was sitting in chat rooms. People were constantly talking about all the trades they’re getting, and I couldn’t understand. But yet I was chasing their trades. No, after I emptied out several accounts and really, really finally had my head on straight, that’s when I realized, you know what, screw it. It was shit. If I just missed that trade, there’s another thousand coming.
All right. And guess what? I have a free mini course to help you guys get past that and truly own the market. simplifyingdaytrading.com, simplifyingdaytrading.com, free mini-course. Sign up for it. I promise you, you will get over the FOMAT syndrome. It is beatable, and you can rule it and dominate the market. Simplifyingthetrading.com. All right, everybody, cut out the FOMAT That doesn’t get us anywhere.