Yes, this is a possible development
However, let's picture a somewhat different situation. Again, you are a novice trader (emphasis yours) and just watch the price break past your expected "potential reversal zone". Will that FOMO be weaker or stronger, i.e. when you got nothing out of the market at all instead of getting something out of it? It can be said off the top of one's head that there'll be some minor differences or nuances in that feeling of missing out, but personally, I don't think they would amount to much anyway. Thus it doesn't really matter whether you closed your position prematurely or entirely missed an opportunity to open it in the first place. If anything, in the second case your greed will likely be even more painful and excruciating
I get your point actually. You are referring to the magnitude of the FOMO.
Both are FOMO.
Most importantly, I believe greed/emotions vary based on individual personality and everyone needs to understand this about themselves.
The losses in the market should be taken in the normal way, not as failures that lead to total disappointment in personal trade that lead to abandoning trading, what should be taken into account is that the losses do not exceed the profits.
Yes! Losses and wins should be treated equally. There's nothing special, it is just part of the business.
Just take a break if you can't handle your losses and call it a day. Don't try to push yourself too much or else you might be chasing losses if you force yourself. It's all about the discipline and patience that you give each time you are trading. There's no way a single person can get rich in a single day, it all takes time. I am not that a hard trader just like the dedicated one but I always make sure I will gain a profit each time I trade.
Everyone should avoid chasing losses and always remember Trading is not a get-rich-quick scheme.
To start with, the advice has always been to not stake what one can't afford to lose. Now to cope with the loss, just view it as one of those things in life and remember to focus your mind on millionaires who lost a lot of chances and finances before finally hitting gold. Think about the Ali Baba guy, Walmart owner, Bill Gates, or Mark Zukerberg and console yourself with their history in hope that one day your day of discovery will roll in.
But more importantly, don't trade what will hurt you if you lose it.
The funny thing is that at times, it is not the loss that is painful but
just the fact that you're not getting it right. (Especially when you have losing streaks)
to me, trading is a gambling game and it depends a lot on your performance and luck.
I don't see trading as gambling because you have a higher probability of one thing happening over the other.
Well, i do believe loses are part of trading and it's a way of helping us learn the more so i always take it as a lesson whenever i lose while trading and make sure I don't repeat such mistakes again. It's a bit hard seeing oneself losing while trading though but you just have to accept the fact that it's part of trading, that way you'll be able to handle it the more
In as much as losses are part of the game, we can always refine our edge in the market from time to time to reduce our loss rate and increase our win rates.
