Improve Trading Mindsets

This is my first year anniversary investing in US market & first month in Moomoo. First couple of months has been pretty daunting, given the relatively volatile and high pace market movements compared to local markets (MY, SG) . One of the few personal weaknesses are as follow:

1. Fear of Missing Out (FOMO)
When thematic stocks are gaining momentum and continuously surge for a period of time, those who missed out this wave will find it hard to resist the temptation to jump into the bandwagon, end up with entry point which come with bad risk-reward ratio.
Solution: Set up own trading plan for each transaction. Being mindful of the next step, regardless good or bad scenario.

2. Being greedy and keep waiting for cheaper prices for entry
This is equally painful compared to point #1. I've been watching index clinching higher and higher over the course of past 1 year, without taking action & buy into any of the index ETF. The same goes to deep correction of growth stocks back then in April'21. I just kept waiting for 'better' entry point, which will never come if we decide not taking any action, the consequence has been painful to see the stocks  prices rebound strongly within short span of time.
Solution: Always plan ahead for each trade, and taking the little first step (which is also the hardest, in whatever new things we first do) to ensure we have 'started' on this, before deciding in future whether to add or reduce position.

Please join the discussion & share me your thoughts too. Hope everyone can grow our mindset & wealth in this exciting investment journey.

Thanks, cheers..