Lessons from FOMO in the Oil Market Last Year

I admit that last year, during the crazy run of $WTI, there was a period where I completely fell for FOMO. Seeing the price rise non-stop, I felt like I was missing out on a golden opportunity, so I jumped in without properly looking at the overall supply and demand picture, without considering global economic trends, and without meticulously calculating the risks. I just thought, "I have to get in now, or I'll miss the boat." The result was getting stuck at the peak. That's when I truly understood how dangerous the urge to follow the trend and greed can be. In the end, I had to cut my losses. I considered it an expensive tuition fee to learn that blindly following the trend in the commodities market really leads to nothing good. Now, I focus much more on fundamental analysis and no longer easily swayed by market hype.