When good intentions meet bad execution: $EURUSD FOMO
Had a rough one on $EURUSD a few weeks back that really highlighted my own susceptibility to FOMO, even after years of preaching against it. Saw the daily close strong above 1.09 after what looked like a decent accumulation period. My original plan was to wait for a retest of that level, maybe a clean bounce off it on the H4. But then the price just kept grinding higher, slowly, steadily, and the narratives started flooding in about potential rate differentials widening. Instead of sticking to my original entry criteria, I ended up chasing it on a smaller timeframe, taking a less ideal entry that didn't have the same risk-reward profile. The market did what it often does to impatient traders – faked a bit higher, then reversed hard enough to catch my wider-than-planned stop. Ended up being a clear textbook FOMO trade, pure and simple. Should have stuck to the plan or just left it alone.
Totally get this. It's so tough when the market doesn't give you that clean entry you're waiting for, especially after you've laid out a solid plan. Do you think having an alternate entry strategy for those grind-higher scenarios could help, or does that just complicate things too much?