Wondering what is FOMO in investing? It is the anxiety you feel when you see others making quick money in the market.
In simple words: When FOMO hits you, you rush to buy shares just because the price is jumping up. It is like running to buy plantain at the market because a crowd gathered, even if the price is too high.
For example: You see a stock on the NGX climb fast today. You quickly use your money to buy it without thinking how it works. Then the price drops tomorrow, and you lose out.
Remember:
- Beginners should never buy shares in a rush.
- Always wait to calm your mind before you trade.
- The Nigerian Exchange will always have new chances.
Try it on StocktoWealth: Practice waiting a full day before you buy ZENITHBANK with your virtual money.
This is for learning, not financial advice.