FOMO big picture that helps

Hi, Brian McAvoy here with Inside Out Trading. Today we're going to talk about the FOMO fear of missing out that actually helps you do better and make more money. Yeah, believe it or not, you know, the fear of missing out. Everybody, everybody's pretty well familiar, familiar with it, especially in trading. You know, you sit there watching your chart. You know, maybe, you know, you get into a trade and, you know, the market moves against you a little bit and bam, Hits your stop and then runs, you know, in the. In the direction that you knew it would. Or you're just in plain center watching the charts. Maybe you're not seeing any setups of your own, but you're seeing, you know, moves all over the place, and it's just driving you nuts. You know, the stuff that causes you to jump in and chase trades or get into trades that, you know, you shouldn't, they just. They don't fit your rules. So that kind of FOMO is not the good kind of fomo. What I'm talking about is one that actually does help you if you'll simply pay attention to it. And it genuinely is fear of missing out. I mean, here's the thing. You get the fear of missing out in the moment, but then you also have the fear of missing out in the longer term. Here's what I'm talking about. Let me share my screen with you. And here's what we're talking about. So let's say, you know, you're trading along and, you know, well, actually, let's back up just a little bit. Let's say you average to 6% ROI a month, and you leave your, you know, leave the profits in the account. And 6% is not crazy, not, you know, super aggressive by any means. And so if you do that, you'll double your account every year. So if you're starting out with a $10,000 account, here's what we're talking about. You know, let's say year zero, and you get off to a decent start. So you start off $10,000. At the end of the first year, you're at 20 grand, 40 grand, you know, you double it. So you double it, double it again the next year, double it again, double it again. At the end of five years, you turned your $10,000 into $32,000, which is pretty cool. Now, if you, you know, really would like to have that sitting there waiting for you, and when you get there five years from now, let's assume that you're going to be around five years. Well, if you fart around, and you just chase trades and you let your trading continue to not be profitable. Well, here's the missing out that we're talking about, the fear of missing out that we're talking about. Okay, so you start off with $10,000 and you just kind of fart around for a year. You don't really get serious about making your trading profitable. You chase trades. You don't do the things that you know you need to do. You don't get the help that you know you need, and you just kind of let your trading cruise along. Let's say it's just breaking. You don't lose money. But at the end of the, at the end of the first year, you haven't made, you know, you haven't made anything. So, you know, at the end of year one, you're at $10,000. And then you decide, okay, it's time to get, you know, get things squared away and actually working properly. Okay, so then, you know, at the end of year two, now you've doubled it. Year 20,000. The end of year three, double again. End of year four, end of year five, you double it again. But now, because you goofed around for a year without really getting after making your trading work, that's the key difference. There's a different, you know, chasing a trade to make some money today is one thing, but just letting your trading continue to underperform and not work the way it should. That's what we're talking about here. You do that for a year, it costs you $160,000. That's what you're missing out on by, by allowing things to continue to underperform beyond a reasonable point. I mean, it is reasonable to, you know, let. Let things take the time they need to take to develop. But with trading seriously, it does not take a year or 2 years or 5 years or 10 years for you to get profitable. If you get the right training, if you're trying to figure it out on your own, it's going to take a while because you just don't know what you don't know. You can't see what you can't see. But if you get the right training where you get it working and you get it working properly and you get it working like now, because it only takes a matter of weeks, seriously, days, if you want to get, you know, if you want to get crazy about it, like 30 days, and you can be profitable a lot of times even less than that. And I'm serious. And it's, it's simply a matter of training, you're trying to do a job that you've got maybe 80% of the training for and that 20% that you're missing is what's causing the problem and it's costing you big time. That's what this fear of missing out, we're talking about $160,000 in just five years. So if you get the training, you don't have to miss out on that. You can start making them, you can start making that money and going in, getting that, doubling, that compounding started for you sooner rather than later. Because if you let it, if you let it sit, you're missing out big time. You know, yeah, you might be missing out on a trade, you know, with the short term fair missing out, but by letting your training continue to underperform, knowing that it's not working right, but not doing the, the things that you know you need to do to get it working right, whether it's, you know, working on your system or working on yourself, getting the training that you probably didn't get when you first got into trading and haven't, you know, yet run across. That's what I'm talking about. So anyway, sometimes the fear of missing out, if you say, damn, you know, I don't want, I don't want to miss out on that $160,000, that's a healthy fear. That's a good one for you because that's going to say, I need to get things working. Not just I need to make some money, I need to get things working. And that's an entirely different mental focus. So this is cool, it can actually work for you. Anyway, hope this helps. I mean, I'm here. I want to see you make it as a trader. There are a lot of good people that get into trading. Just all they get out of it is a bunch of life lessons and a financial be. I would like better than that for you. So again, I hope this helps. Talk to you soon. Cheers. So do you sometimes struggle with inconsistent results from your trading? You know, a little too much variability in what you're getting as far as, you know, winners and losers. If you like some help with your consistency, that's my area of expertise. I used to be a quality assurance manager and quality is all about getting consistent results, predictable, reliable results. So if you'd like my help with your trading, swing by insideout trading.com schedule a call with me, we'll get on, we'll talk about your situation, see if I can help you improve the consistency of your trading results. Talk to you soon.