The best cure for emotional trading is...

A written plan before you trade

FOMO and other mind traps

A coin is up 300% this week and everyone's posting screenshots. Your heart races. That feeling has a name: FOMO, the fear of missing out.
FOMO feeds on herd behaviour: doing something because everyone else is. By the time the crowd is excited, much of the move has often already happened.
Real example: in January 2021, GameStop shares jumped from under US$20 to an intraday high near US$483 in a few weeks. Many who bought near the top lost most of their money within days.
Other mind traps: confirmation bias (only reading news that agrees with you) and loss aversion (refusing to sell a loser, hoping it comes back).
The cure: write your plan before you trade (entry, stop, target, size). If a trade isn't in the plan, you don't take it.
Common mistake
Mistake: “I have to buy now or I'll miss it forever.” There's always another chance. Missing a trade costs nothing; chasing a bad one can cost a lot.
Key takeaway
Feelings are loudest exactly when they're least useful. Plan first, and let the plan, not the crowd, decide.

FOMO means... Fear of missing outIt's the urge to jump in just because others seem to be making money.
Loss aversion often makes people... Hold losing trades too longLosses hurt about twice as much as gains feel good, so people avoid admitting them.
The best cure for emotional trading is... A written plan before you tradeA plan made calmly beats decisions made in the heat of the moment.
Everyone online is buying a coin that rose 300% this week. A sensible first thought is... Much of the move may be overWhen excitement peaks, latecomers often buy from early buyers who are selling.