Beginner investor seeks advice on overcoming FOMO and avoiding buying at peaks, citing a loss on IBRX.
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Hello everyone, I am a beginner trader/investor and lately I have been experiencing a lot of unnecessary risk and unrealized loss due to FOMO. The worst one so far for me has been with IBRX as I bought it yesterday as it was rising, making my average price of 7.11$. I realized my mistake too late after seeing the prices drop down to 6.5$ and at that point I just couldn't accept the loss so I didn't sell.
In order to break out of this "buy high sell low" pattern, how should I approach buying a stock or an ETF? I know the general advice is to "buy the dip" but stocks, at least to me, seem to rarely drop considerably to be considered a dip. How do you approach buying or selling a stock?
TL;DR: Beginner dummy making FOMO mistakes and looking to learn how to correctly buy and sell stocks and ETFs, alongside any other advice.
Thank you for reading and have a nice day!