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Topic: DID YOU EVER FALL INTO THE FOMO TRAP? - page 3. (Read 270 times)

member
Activity: 630
Merit: 20
May 02, 2018, 01:09:52 PM
#7

However, I have to admit although I gained experience in crypto and made some decent profits, sometimes it's really difficult to resist buying a coin when it's really hyped and price goes though the roof!

Do you guys experience the same thing?


Many times I did a regret because of this. And that was a mistake before. Of course, my eyes widened at the coins which I saw last time that almost reached the sky. But same thing goes to the other traders, I have been tempted before and bought some of my coins at a high price.

Well, we have learned from our experiences. Thus, I have gained some strategies now without that FOMO thing. Cheesy
member
Activity: 1008
Merit: 12
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May 02, 2018, 01:06:19 PM
#6
I think every trader usually gets trapped due to fomo i also made few bad investments when i bought the peak due to fomo, now all those coins are down around 70%, i will hold and wait for next bull run and do not plan to sell them in loss.
member
Activity: 434
Merit: 25
May 02, 2018, 12:55:34 PM
#5
FOMO = fear of missing out. An important rule you can read online is that you should never buy cryptos when the price is pumping very hard, because after all pumps the price goes down and corrects.
Sounds really rational and a smart thing to do.

However, I have to admit although I gained experience in crypto and made some decent profits, sometimes it's really difficult to resist buying a coin when it's really hyped and price goes though the roof!

Do you guys experience the same thing?


Everyone starting on crypto will fall for all the ups and downs of crypto space, It takes time to mature; understand the market and settle. Its a learning process.
full member
Activity: 630
Merit: 100
May 02, 2018, 12:44:15 PM
#4
Everyone fell for FOMO at the end of last year, everyone in the media was reporting huge gains so everyone jumped in but then got burned during the correction. It will begin again now that crypto is pumping again so the FOMO factor is back
sr. member
Activity: 658
Merit: 256
May 02, 2018, 12:18:20 PM
#3
Yes, I fell for FOMO when I first started in crypto. I heard lots of good news of a coin and got interested. The good news made me motivated and believe that the coin will bring me good profit. So I bought the coin quickly because price keep rising, the coin ended up dumping and I became a bag holder for a long time.
legendary
Activity: 1834
Merit: 1036
May 02, 2018, 12:12:15 PM
#2
Several times and its without studying the charts and price history. When I read somewhere that price is going up and I saw a big green stick in in the chart I bought the coin right away and price slowly dropped. Later on I found out that the reason why the price suddenly shoot up is because it was listed on another exchange. Learned my lesson there and its costly.
jr. member
Activity: 91
Merit: 5
May 02, 2018, 12:07:49 PM
#1
FOMO = fear of missing out. An important rule you can read online is that you should never buy cryptos when the price is pumping very hard, because after all pumps the price goes down and corrects.
Sounds really rational and a smart thing to do.

However, I have to admit although I gained experience in crypto and made some decent profits, sometimes it's really difficult to resist buying a coin when it's really hyped and price goes though the roof!

Do you guys experience the same thing?
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