{"id":46985,"date":"2018-05-23T20:56:34","date_gmt":"2018-05-24T00:56:34","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=46985"},"modified":"2018-05-24T15:30:10","modified_gmt":"2018-05-24T19:30:10","slug":"fomo-my-thoughts-from-dr-steenbargers-series","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/fomo-my-thoughts-from-dr-steenbargers-series","title":{"rendered":"FOMO- My thoughts from Dr. Steenbarger\u2019s series"},"content":{"rendered":"

Dr. Steenbarger wrote an excellent series<\/a> on FOMO (Fear of Missing Out) with solutions to help traders with this issue. In one post<\/a>, he mentioned our work together coaching and mentoring traders at SMB. \u00a0Specifically he outlined three ideas to improve FOMO, and for which I would like to contribute my thoughts and hopefully supplement his writing.<\/p>\n

1) Mindfulness<\/strong><\/p>\n

We recommend in our training programs that traders include in their Daily Routine mindfulness training. \u00a0A good place to start is the HeadSpace app.<\/p>\n

Mindfulness training will help you observe a trading loss and not take it personally. \u00a0It will help you focus for a more sustained period of time and with greater intensity. \u00a0Also, it will help you remain in an optimal psychology state of calm, while trading.<\/p>\n

2) Reasses the severity of threat<\/strong><\/p>\n

Traders on our desk are taught to trade their PlayBook. \u00a0Repeatedly, our coaching and mentoring centers around helping traders trade their PlayBook in real-time. \u00a0Forced trades bring unnecessary losses, for example. \u00a0Sizing too small and PnL not recognized in Aplus trades becomes obvious, with a quick review of their PlayBook.<\/p>\n

Your trading business is to trade your PlayBook. \u00a0Stocks selected that are In Play but do not offer trades in your PlayBook should not be taken. \u00a0It is not enough for a stock to be In Play, it must also setup with an opportunity from your PlayBook. \u00a0When traders think of trading their PlayBook it is easier to accept large moves in stock that they did not participate. \u00a0They think- It is not a trade in my PlayBook<\/i>.<\/p>\n

But seriously Dr. Steenbarger make such a terrific point about how nonsensical FOMO is from trader. \u00a0I wrote about Prep in The PlayBook<\/i> working on these issues with his trading, \u00a0There are large moves about to hit in stocks on HKE, LSE, \u00a0DAX overnight. \u00a0Will you awake and fret about misses there? \u00a0If not, then feel anxious about movement in stocks outside your PlayBook?<\/p>\n

3) Directing attention outward<\/b><\/p>\n

On Team Shark junior traders get to learn and be mentored by one of the top short-term traders. \u00a0They often trade and watch the same stocks. \u00a0They ALL attack these opportunities differently and with success. \u00a0They have had to. \u00a0They are not capable of trading exactly like him. \u00a0 They must draw on their own unique talents and interests to create a PlayBook and trade that PlayBook at their best. \u00a0Focus on what you need to do to produce your best trading.<\/p>\n

I hope this has contributed to Dr. Steenbarger\u2019s series on FOMO.<\/p>\n

Trade well.<\/p>\n

*no relevant positions<\/p>\n

*I am on vacation with family until next week.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Dr. Steenbarger wrote an excellent series on FOMO (Fear of Missing Out) with solutions to help traders with this issue. In one post, he mentioned our work together coaching and mentoring traders at SMB. \u00a0Specifically he outlined three ideas to improve FOMO, and for which I would like to contribute my thoughts and hopefully supplement his writing. 1) Mindfulness We … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":46936,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[5463],"tags":[30,50,56,1354,1349],"class_list":["post-46985","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-bella-daily-update","tag-prop-trading","tag-proprietary-trading","tag-smb","tag-trading-coach","tag-trading-mentor","post_format-post-format-video"],"yoast_head":"\nFOMO- My thoughts from Dr. Steenbarger\u2019s series | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/fomo-my-thoughts-from-dr-steenbargers-series\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FOMO- My thoughts from Dr. Steenbarger\u2019s series | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Dr. Steenbarger wrote an excellent series on FOMO (Fear of Missing Out) with solutions to help traders with this issue. 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