2024-12-18 07:22
IndustryCommon Emotional Traps and How to Overcome Them
1. FOMO (Fear of Missing Out)
Trap: Entering trades late due to fear of missing a big move.
Solution: Trust your strategy and wait for the next opportunity.
2. Fear of Loss
Trap: Hesitating to enter a trade due to potential losses.
Solution: Use stop-loss orders and only risk a small percentage per trade.
3. Chasing the Market
Trap: Entering trades without proper analysis to "catch up."
Solution: Pause and reassess before taking action.
4. Attachment to a Trade
Trap: Refusing to close a losing trade, hoping it will turn around.
Solution: Set stop-loss levels and stick to them.
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Common Emotional Traps and How to Overcome Them
Hong Kong | 2024-12-18 07:221. FOMO (Fear of Missing Out)
Trap: Entering trades late due to fear of missing a big move.
Solution: Trust your strategy and wait for the next opportunity.
2. Fear of Loss
Trap: Hesitating to enter a trade due to potential losses.
Solution: Use stop-loss orders and only risk a small percentage per trade.
3. Chasing the Market
Trap: Entering trades without proper analysis to "catch up."
Solution: Pause and reassess before taking action.
4. Attachment to a Trade
Trap: Refusing to close a losing trade, hoping it will turn around.
Solution: Set stop-loss levels and stick to them.
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