The FEAR OF MISSING OUT (FOMO) is often behind many a share market hard luck story.
Take for example, the case of the Investor (read Gambler) who had been watching Gulf Industrials (GLF) since late December 2014 at $0.001.
Having increased in price to $0.004 in March 2015 at which point, with solid buying at market and positive indicators they took a 1,000,000 position at $0.004 with an additional purchase of 150,000 at $0.005 (so they would not miss out).
Their decision proved to be a good one with GLF topping the charts at $0.019 on 19/06/2015 – a 375% or $17,250 profit. Looking at the previous pricing of the stock and seeing it had been as high as 8 cents, the future looked very rosy for them indeed. At that price, the holding would show a profit in excess of $87,000!
Their FEAR OF MISSING OUT on this future profit affected their decisions.
Had they been an ShareSmart client, they would have known to have stop losses in place and been out of the stock as the price fell.
Instead, they held strong (?) in anticipation of future profits and in FEAR OF MISSING OUT!
GLF is currently trading at $0.009. Had they taken profit they would have been able to invest in other stocks and keep an eye on GLF via their watchlist.
Whilst still showing a 125% profit and having sold 150,000 at $0.01, their FEAR OF MISSING OUT has resulted in them them MISSING OUT BADLY.
The right tools, education and the support of a Mentor can make ALL the difference when it comes to your trading success.
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