FOMO
FOMO, fear of missing out, is the urge to buy something because it is rising fast and everyone else seems to be profiting.
Also known as: fear of missing out
It shows up as buying after a big rise at a poor price, abandoning a plan to chase a move, or sizing a position larger than usual. FOMO tends to be strongest near tops, because that is when the most people are talking about gains.
The remedy is mechanical: a written entry rule, a fixed position size and a stop. Nothing is lost by waiting for the next setup.