Trading Mindset Mastery: Conquer FOMO
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Trading Mindset Mastery: Conquer FOMO
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About this listen
This podcast episode, "The Psychology of FOMO Trading," from Trading Mindset Mastery, discusses the fear of missing out (FOMO) in trading. It explains FOMO's psychological roots, including scarcity mindset, loss aversion, and social comparison. The episode then offers strategies to overcome FOMO, such as acknowledging it, reframing your mindset, and using a trading simulator like simul8or.com to practice discipline. The use of a simulator is highlighted as a tool to build patience and identify personal FOMO triggers through practice and review. Finally, the podcast advocates for establishing and adhering to a trading plan with clear rules.
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