Hubert Senters here.
Let’s take a look at the Dow and let’s talk about why FOMO is so dangerous. Most of us suffer from it myself included.
It’s just part of being a human. But it’s hard not to crack as far as getting over with. I had place one trade today. I did not get fill on it.
But as I’m setting here working in or on other businesses I also have other trades that I’m in.
So if you look at the Dow and you say it’s up $283 whole points. Easy there big fellow. It gap up that so most of that was a gap and then trading slightly higher but not much.
So if you look at this gap it opened up right there and then it’s $35,242. It’s got up to $35,339. So it moved another $100 points higher.
So when you think about this. This is why it’s so dangerous. When you look at something like this and you go let’s take at Google.
Google is an all time 52 week high. It’s up 68 points. What do you reckon? What do you think the odds are on Google doubling from here?
It could do it over the next 10 years. It’s not going to do it this year. Same thing if you look at an Apple or a Tesla and Amazon.
So it’s really hard to buy things when they’re at all time new highs. It doesn’t mean you can’t do it. The value is there for you. And you’re willing to take the proposition on the risk on the other side.
I’m going to give you another example. This happens to all of us myself included. Anytime I’ve done something out of FOMO. I don’t think.
Maybe not every single time I lost money but definitely it increases the chance. So there’s this crypto I’ve been in. I’ve been talking about it in on videos for a while now.
And I’m going to show you exactly what this is going to do. When I show you this it’s probably going to make your grid gland salivate.
So your mouth will water and it will get a little bit wetter and you’ve been like I wish I was in that trade. That’s exactly what FOMO is.
Don’t do this trade. It’s too late. You’re going to have to buy a pullback on this creature.
But the hard thing is if you don’t pull the trigger on it and then you go and you let somebody else make large returns or large sums of money your grid gland gets to salivate, your mouth gets wet and then you are now in full FOMO mode.
So I’m going to bring over my coinbase pro account here because this is one of the brokers I clear to.
I’m going to show you. I go right here. And then you can see ADA and then you’re like crazy crypto. Yes. Cryptos are crazy. Be careful.
This thing when I started trading it and talking about I was like I think things are going to go substantially higher. I’m going to show you guys what I’m doing.
Currently, it’s trading at about a buck. A buck of $35 so I’m going to go over here to my portfolio.
Now, I’m going to go orders first. Orders and then I’m going to say filled orders. And then you can see right here. Here’s the filled orders.
$1.06, $1.27, $1.13, $1.20, $1.04, $1.45. $1.10, $1.18, $1.45 and $1.50. So now, I go back over to the trade tab.
And you can see that this is trading right at. It’s almost at $3. So my average entry is a buck or a buck $25 or something like that.
I think it’s going to go substantially higher. Now, you’re setting there going. It would have been nice if I knew about that back in.
Well, you did because I talked about them in videos and now, you’re setting there. Now, you’re suffering from FOMO and you’re setting going this thing is going vertical.
I wonder how much higher is going to go. I think it’s even going to double from here. It doesn’t mean I know that for a fact.
But right now, I bet you. Your mouse is getting a little wet. You’re suffering from a little bit of FOMO and you wish you’re in this trade. Here’s a better plan in my opinion.
Let it pullback to like decent area would be like $250 or $225 on the next drawl down or the next rollover or when that happens get you a position there.
Now, what happens in that situation is your like I don’t know if I want to buy this. If I buy it at $250 it might drop to $225.
Yes, it might. If I buy it at $225 it might go back to a dollar. Yes, it might. That’s what stop losses are for. And that’s what risk management is for.
I’m going to be doing a special live webinar Tuesday at noon EST, August 24th on The Mother Of All Bubbles.
I think the markets are really nice over the next 6 months. Next 4 to 6 months to do a significant correction anywhere from 14 to 30 percent.
I’m going to walk you through why I think that and what I’m doing to prepare for that. I’m going to HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.
Hubert.
