Lessons from CFD: When FOMO Leads to SL Extension

Recently, I tried trading $DAX30 CFD and encountered a familiar situation: FOMO. The market seemed to be surging, so I decided to jump in, even though the price had already moved up significantly. When the chart started to pull back, it made me overly anxious, leading me to continuously move my Stop Loss further out, hoping it would reverse. But in the end, I got dragged until that portion of my portfolio was wiped out. It was a painful lesson but taught me that sticking to the plan and not moving the SL is truly crucial.