Nobody want to be missing out. Everybody has a fear of missing out, and for investors it’s a fear of not to keep up with other investors or stocks. How do you overcome the fear of missing out? That and a lot more in this video!
back in 2018, I was already using the programme Zoom. Before it went public and the moment it went public, back in 2019 you could buy a share for about 60 dollars i didn’t buy any. But should a bought some shares? At the moment I worked fine so why should i? but when the pandemic hit… the shares peaked with 160 dollars per share. Why didn’t I buy and did I had to buy back then or right now?!
05:30 Missing Out
At some point, Every investor will experience the event of seeing a stock that you wanted to buy at a lower price that moves higher and higher without you. Witnessing this is incredibly painful. And the ultimate outcome of this is finally entering the stock near the highest point of the move
and then pulling back and stopping you from your position. Now This is a cycle that doesn’t stop. And the fear of missing out lets us create bad habits. What van influences our behavior when investing. I have 3 tips how you can overcome this
07:00 Tip number 1: Know when to buy, Know when to hold, Know when to sell
The very first thing you need to do is set rules for yourself.
When do I Buy new or more stocks? And when do I sell? Be very specific about these rules, so that each time, whenever you look at the stock market, you can just ask yourself these sets of questions. To see, if you should really buy more stocks or not. This is about controlling your behaviour whenever you know you can’t control your emotions…
08:05 Tip number 2: Stop chasing stocks
This a never ending story. We keep chasing the deal and what happens, is that you’ll never catch it. Because you let others decide your investing behavior. You see everyone at lots of online platforms following the stocks. And you want to do the same but eventually you can’t see the overall picture anymore. Because of all those influences from the outside world. How do you overcome this?
09:18 Tip number 3 Know that you lost a good opportunity, than stepping in at the wrong moment.
It all sounds so obvious, right? And yet, whenever we get the chance we do that so often. it’s mainly the moment when you realize I’ve missed the boat. Accept the situation as is, leave it and don’t bother about it. Don’t hate yourself for it, don’t mourn it, don’t beat yourself up. Nothing helps if you do so.
10:50 BONUS: Challenge
We always believe, we have 2 choices. But that’s not true! there is always a third choice! We have BUY, we have SELL and the third choice is we just HOLD. Same goes for YES , NO and I don’t know, so I’ll just leave it be for now. For this challenge, I would like to give you the awareness, there are always more choices than you believe. Each day, you will face different choices: Do I want to do this? or that? For the coming 7 days, what I would like you to do is take a look which other choices do you have, when you’re faced with a choice that seem like as if there are only 2 choices and note down, which choices you believe you had and why you picked for one. You’ll become more aware of you choices.