Timothy Sykes discusses harnessing FOMO in his recent blog.
Fear of missing out (FOMO) is the feeling of apprehension that one is either not in the know about or missing out on information, events, experiences, or life decisions that could make one’s life better.
“FOMO is real,” said Timothy Sykes.
Timothy Sykes noted that FOMO can be dangerous if you react to it incorrectly.
“Just like all fear …Some people freeze from fear. They might make poor judgments in reaction to scary or stressful situations. Other people use fear to heighten their abilities,” he said.
“FOMO is real”
TIMOTHY SYKES
Trade scared; Timothy Sykes discusses harnessing FOMO
“I’m not a Navy SEAL … but I’d imagine they know a thing or two about this.
I always tell my students to trade scared. That way trading isn’t scary.
Use your FOMO to take necessary precautions when you’re trading,” he said.
“My students are banking right now because they understand how to harness FOMO. We’ve been doing this for years,” he added.
Timothy Sykes discusses harnessing FOMO in a bull market
“Results speak for themselves,” he said.
But he noted there is ample volatility for small-account traders right now.
“But don’t let FOMO suck you into bad positions!” he said.
“But don’t let FOMO suck you into bad positions!”
RAY DALIO
“There are STILL a lot of people sitting on the sidelines while these profit opportunities rip higher …
Some people have FOMO and they choose to ignore the market instead of taking profits. Stop beating yourself up,” he said.
“Everybody has FOMO. It’s natural. But what you do with the FOMO determines the kind of person you are,” he added.
Timothy Sykes views FOMO in three ways.
FOMO can seduce you into poor trading decisions, alternatively, a trader can ignore FOMO and make no trading decisions.
“Embrace the FOMO and hone your trading decisions” – Timothy Sykes
The third way; “Embrace the FOMO and hone your trading decisions,” he said.
“Here’s how to embrace your fears …
My students who are profiting right now, prepared when I warned them about this hot market.
I didn’t know when the bull market would hit and I still don’t know how long it will last. But I don’t need to predict things like that.
The market ebbs and flows
Eventually, it will cool down. Then it will heat up again,” he said.
He believes that those traders who prepare are in the best position to pull profits when the market surges.
“I’ve got a timestamped Tweet from January 2022 when I told everyone to study while the market slid lower. Look below:
I’m a glorified history teacher.
I knew the hot market was coming. I tried to warn you,” he added.
Timothy Sykes discusses harnessing FOMO is applicable knowledge for short-term speculative traders who have the time to monitor markets daily
Buying the dip strategy works well in a secular bull market. But market timing is a very tricky business.
