Short monologue by Kardec Trader (YouTube, uploaded September 14, 2023) advising new/early-career traders to avoid FOMO, be patient, and treat missed opportunities as learning experiences. The speaker emphasizes that market opportunities recur regularly, so traders should wait for the market to present setups rather than forcing trades.
It's naturally easy for a new trader or someone that is early in their career to be like, oh my God, I missed such a big day. They don't understand that that big day is going to come again in two weeks. In three weeks, it's going to come again. The market is going to keep offering opportunities. So the idea of FOMO is like, okay, well I didn't capitalize on this opportunity. Why? What did I miss? How did I read the order flow wrong? How did I read price action wrong? How did I read the market wrong? What can I take away so I am prepared for the next time the market gives me an opportun opportunity. That could be tomorrow, that could be next week. And my job is to wait here, wait until the market comes to me and hands me the opportunity. It's not, oh my God, I missed the opportunity. It's the end of the world. No, the market's not going anywhere. So why do we rush to then create opportunities that are non existent and that's what FOMO leads to.
