anxiety that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on a social media website.“I realized I was a lifelong sufferer of FOMO”
Thank you Google!
Fear Of Missing Out
I just realized that I’ve had FOMO since Day 1 of investing in the stock market, it’s a symptom common not only to traders but event to the general public it seems.
Before following ZFT, I used to have 6-12 stocks in my portfolio because these were the number of stocks in the watch list from the subscription services I signed up to. Or even way back when I was still following COL’s Investment Guide. If I see “buy this” “buy at this level” “buy below price” I would note all and buy at the sight of the numbers mentioned. I did not know how to filter stocks back then… Now thanks to the ZFT system, I learned how to filter the stocks to put in my watch list and even better – to create my short list. But my dilemma is when I get to have more than 4 short listed stocks in my notebook… Oh no! What do I do? Well, sometimes I end up having 5 or 6 stocks in my port. It sucks I know! But don’t judge me, I’m only human. Hahahaha! But not to worry, I’m working on this like how I’m always working on improving everything in my life (who goat?).
Until one day, a very painful whipsaw happened to me. I started noticing IDC when it started to create a base above 4.96, I said to myself “This is it! This is a ZS play I know well enough how to trade”. And so I crated the perfect trade plan of a ZS setup. From there, I started to accumulate shares, and because I was overly confident about this trade, I put an actual chunk of my portfolio – not the practice size I usually allocate until now. So I was accumulating for a couple of weeks but I got time stopped because I will be travelling the following week so I had to purge my portfolio…
One week later…
Kaboom! My trade idea came to life! “What the fudge!!!!” — how did you expect a newbie like me react to that? Hahaha!
But the beautiful thing that happened after that is this… The stock created a strong box after breaking out from ZS, and then it broke that box, those 2 scenarios were 2 perfect timing to enter right? Yes, 100%, but my purge pact which I created with myself was not yet finished. I had to follow my rule… FOLLOW THE RULE, the hardest thing to do but of course we should always try our best to do it. So, while the price was flying, I did nothing… I just watched from the sidelines, and realized that WOW, when you are on purge you tend to ignore the urge to trade.. This is good, this is really really really good! I love it!
Every single time that I trade the stock market since the day Boss lifted our ban, I’m learning something new about myself, this amazes me – every time!
And because I missed Miss Market like crazy during my purge, like really cray-cray overload crazy. I give you…
During the time that I was writing this, I learned something incredible, my classmate Chronos also presented a similar topic to their Focus Group Discussion in Singapore. His topic was JOMO – the Joy of Missing Out, he said “Forget about FOMO, embrace JOMO” isn’t that fantastic!