Handling FOMO in Investing or Trading
When it comes to investing or trading, Fear Of Missing Out (FOMO) is a very real emotion. However, there are some practical steps you can take, which I do myself.
1. Most importantly, remember it is the Lord who provides. Don't forget that. Because if the Lord will provide, then so what if you miss the boat? He could send another one, or direct you to another boat!
2. Develop a list of alternative boats. One main reason we develop FOMO is because we feel this is the one and only option. It's not! Develop a list of potential investments that you will be comfortable with.Just knowing that there is this list available helps relieve the pressure to want to get invested, because you know there is an alternative available! If you want a specific investment to consider, take a look at Berkshire Hathaway. I might do a post about BRK specifically in the future but that could be a start for you?
3. Learn to embrace OPTIONALITY. Do you know that OPTIONALITY is very valuable? What do I mean? If you are holding onto cash right now, it means you have the OPTION to either invest or not. The ability to make that choice is valuable because it means if the market comes off again, you have the ability to make purchases at a good price. Isn't that valuable?
Free Training Video: https://bit.ly/JF-TrainingVideo01
Hope this helps!