FOMO – Fear Of Missing Out.
(Go straight to the 5-step battle plan)
Wikipedia says that FOMO is “a pervasive apprehension that others might be having rewarding experiences from which one is absent”. In other words: the nagging feeling that other traders are making big profits and you’re letting the trading opportunities slip through your fingers. To counter this feeling, you enter trades way too quickly.
Afraid to miss the next big move.
Stanford research has shown that what investors fear the most is not the risk of a loss per se, but the risk that they may do poorly relative to their peers.