#TradingMistakes101 Emotional Trading (FOMO & FUD)

The Mistake: Buying into a coin solely because it's "pumping" (Fear Of Missing Out -FOMO) or panic-selling during a dip due to negative news or fear (Fear, Uncertainty, and Doubt - FUD). Emotions cloud judgment, leading to impulsive and often irrational decisions.

How to Avoid It:

Have a Plan: Define your entry and exit points, risk tolerance, and target profits before you enter a trade. Stick to it rigorously.

Detach from Outcomes: Understand that not every trade will be a winner. Focus on executing your strategy correctly, not on individual trade results.

Step Away: If you feel emotions rising, take a break from the charts. A clear head is essential for sound decision-making.