Emotions Fear

Question 1

Fear of missing out FOMO

Answer 1

There will always be another trade

Question 2

Fear of being wrong

Answer 2

Shame and embarrassment
Need to predict the future
Reminds us of every time we have been wrong

Question 3

Fear of losing money

Answer 3

When we lose it hurts we take it personal

Look at your money as risk capital

Question 4

Fear of leaving money on the table

Answer 4

Never satisfied with the money we take off
Price could always go higher lower and usually does

Question 5

What are 4 other fears?

Answer 5

1 Impatience
Sit on your hands
Waiting for your ideal setup
Hurry up and wait

2 perfectionism
Always looking for the perfect setup
Leaving money for the better money
Solution: have a perfect process
Figure out your probabilities

3 hope wish pray
Instead of carefully following your plans and rules
Excitement can lead to overconfidence

4 Recklessness
Trading a position your account can’t handle
Waiting n your strategy during game time
Not pre planning entries and exits (stops)
Solution: reward yourself when you follow your system