Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Top Trading Lessons: Don’t Fear Missing a Trade, There Are an Infinity More Ahead. Be Flexible

Top Trading Lessons: Don’t Fear Missing a Trade, There Are an Infinity More Ahead. Be Flexible

Justin McQueen, Strategist
Top Trading Opportunities in Q4
Top Trading Opportunities in Q4
Recommended by Justin McQueen
Get Your Free Top Trading Opportunities Forecast
Get My Guide

Remind yourself that you will miss a trade, however, there will always be another trade, so if you miss a trade, accept it and move on. With this mantra, you can kick out those bad FOMO fear of missing out habits. For example, you may be bullish on the Pound with fundamentals supporting your view and the technical set-up offering an attractive entry at key support. However, against your better judgement, you don’t go into the trade, which you are now ruing because GBP/USD is soaring as you had expected. This is where the “should’ve gone long” thoughts start to grow louder with the trade looking destined to hit your profit target. The growing unease that you have missed the trade leads you to act on a whim and carry out the trade. The problem here is that your risk-reward will look poor as you try to chase the move. GBP/USD is now turning back lower and your stop is subsequently hit. As was said at the beginning, trades will be missed, but there will be plenty more trades in the future.

Top Trading Lessons
Top Trading Lessons
Recommended by Justin McQueen
Top Trading Lessons
Get My Guide

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES