Markets can move quickly. If you blink, you miss it.

When one misses out, one might experience an irresistible urge to get in at the soonest possible moment, because the pain of missing out is a strong motivator. I urge you to resist that urge. Why?

By prioritizing “getting in at any cost” you are likely to abandon your Trading Plan and take a sub-par entry. This not only undermines your discipline, but sets you up for a whipsaw. The experience of missing out followed by a losing trade is a double dose of pain that may then motivate you to try even harder, but your stress level will probably degrade the quality of your subsequent decisions, leading to a downward spiral.

Bottomline: Psychologically speaking, it is a much better strategy to practice tolerating the pain of missing out.