Today I am here to tell you that the Age Old Belief that Fear and Greed are what moves the markets is just plain wrong.

There is only 1 thing that moves the market. FEAR.

Either a Fear of Losing Money or a Fear of Missing Out on an opportunity to make $.

This Week, the Trader Temperature is “Fear of Missing Out to Make $”

Here are 3 ways to get over your “Fear of Missing Out”

1) Get Over Yourself
• Accept the reality that you are always missing out on some trade somewhere. Markets were here long before you traded and they will be here long after you are done

2) Know What You are Good At
• Instead of chasing current hot markets (comodites) or styles (technicals) know what and where your competitive advantage is and stick to it.

3) Know Your Job
• Contrary to popular opinion, a traders job is NOT to make money
• That is the market’s job…..Your job is to do the following:
1st) Figure Out Your Competitive Advantage
2nd) Execute it when it appears
3rd) Manage the risk as the market moves

Do all of these and you wont have to worry about chasing the market because you are Afraid to Miss Out.

Trade well.

Dr Doug