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Sticking to the plan: The cost of FOMO during $NVDA's run
My biggest mistake recently wasn't poor analysis, but FOMO, specifically with $NVDA. I had a clear entry and profit target based on my model, which I executed well. However, as the stock continued to parabolic, the itch to re-enter, to not miss 'more' of the move, became overwhelming. I ended up chasing a secondary entry at a much higher price, violating my own risk parameters, and naturally, it was near the top of that particular mini-surge before a significant correction. The lesson, again, is that once a trade is done according to plan, it's done. Re-entering requires a new, equally robust setup, not just the feeling of missing out.