Topic: Do not FOMO on newly listed altcoins on Binance - page 4. (Read 862 times)
Except when there's bullrun because tokens that just got listed in a no name exchange will still be pumped but normally tokens will always be dumped no matter how good the project is. Its just that many will take profit including the team who has lots of coins in their pocket. They wanted to gain too just like all the rest who tried to invest all for the discounted tokens.
Recently there have been a craze and buy rush for any coin new listed on Binance but usually turns to a nightmare for those who FOMO too early. $MBL which was listed today because they won vote for community coin dumped from 59 sats to 30 sats within some minutes. This was the case with LTO too. My little advise to traders, (especially newbie traders) is to analyze properly before diving into buying a newly listed coin on Binance especially and other exchanges with such hype. Even if you must do, use tight SL and moreover there is no point chasing a moving train.
One of the reason for it is most of the people expect the price of the coin to exponentially increase on being listed on binance. And if you watch the price movement before the listing, the coins that comes in voting gets a good buy order increasing the price in every other exchange they are listed on. So, its basically the correction in price rather than anything else.
The strategy for trading are same for large rise and fall of a coin compared to others, don't buy when the price is unnaturally inflated.
Recently there have been a craze and buy rush for any coin new listed on Binance but usually turns to a nightmare for those who FOMO too early. $MBL which was listed today because they won vote for community coin dumped from 59 sats to 30 sats within some minutes. This was the case with LTO too. My little advise to traders, (especially newbie traders) is to analyze properly before diving into buying a newly listed coin on Binance especially and other exchanges with such hype. Even if you must do, use tight SL and moreover there is no point chasing a moving train.
There is no point in even using technical analysis and trading terms, those people are gambling, there is no way to know if a coin that is just being released is going to go up or down, you have no way to measure the strength of the market or the interest of investors, I do not even consider that FOMO, because FOMO occurs when you see a coin going up and you try to catch that movement too late when in fact many of those coins crash from the moment they are freely traded. 
Not just for Binance, and we should avoid all exchanges in this market. Fomo will make us lose if too many people pay attention and invest in it. I personally have also been a victim of several altcoins' Fomo when listed in new exchanges. Stay away from them as far as possible if you do not want to lose money
This message should be good for the newbie in crypto, based on my observation, Binance is the most hype exchange where even shitcoins as long as listed in the exchange will pomp, and with their power to manipulate the price, it would attract the newbie to ride with the FOMO but then regret their wrong decision. every time we FOMO we regret that's the real thing,.. actually we can see a lot of coins that are listed in Binance got pump and now it's value is very cheap.
Agree that the FOMO on binance exchange can make many wrong decisions, especially affecting the psychology of new entrants into the crypto market, it can even ruin value and push a great project into rubbish but see this negativity, we should still accept this mode of operation. Because this market wants to make big profits, wants to make more money, it will always need manipulation, a person's mistake will be an opportunity for others to take advantage, a lot of people like this FOMO, very stimulating and quick profit when we understand the game Recently there have been a craze and buy rush for any coin new listed on Binance but usually turns to a nightmare for those who FOMO too early. $MBL which was listed today because they won vote for community coin dumped from 59 sats to 30 sats within some minutes. This was the case with LTO too. My little advise to traders, (especially newbie traders) is to analyze properly before diving into buying a newly listed coin on Binance especially and other exchanges with such hype. Even if you must do, use tight SL and moreover there is no point chasing a moving train.
This is a risky investment, they can make a lot of profits from this FOMO but can also lose a lot if the price falls after being listed in the exchange. I don't like investing like that because sooner or later I will lose all my investment. It is better to choose the top altcoins in this market and hold them 
There’s a big hype on Binance exchange and almost everyone thinks that if you’re listed to that exchange you’re a good coin and that’s why hype is created. If a token reach a new high after the listing then you can expect a dump after that, its not a FOMO anymore its a strategy of a trader because it happened so many times to new tokens.
Indeed FOMO isn't good at all, I think because of binance credibility any coin listed there attracts traders and investors but in my opinion I think one should study the coin prior to listing to know more about it, it's circulating supply and total supply before jumping into any coin.
I think a newbie trader should experience that kind of situation to learn that in cryptocurrency world everything has a risk factor and jumping in any FOMO is one of them, another risk is the Binance listing effect that can bring more harm than good if we are not putting ourselves in control, because most of us believe that if any coin/token was listed on Binance its price would be skyrocketed and it's a risky notion that we should avoid.
This is the major problem these days mostly crypto community is falling in hype and fomo, they don't want to understand that if a coin/token is listed on a major cryptocurrency exchange and creates good value for a short time with hype and fomo it's not mean that its future is going to be bright we should understand the basic and important thing first and that is the development of any coin/token I believe good development indicates positive results.
I have observed this as well, i mean most of the coins or tokens that i was following and they got listed on binance crashed hard yes there were pre and initial pumps but over the long term almost all coins dropped in value to an absolute bottom where most of investors who bought at binance are just hoping to exit with less loss or break even.
This message should be good for the newbie in crypto, based on my observation, Binance is the most hype exchange where even shitcoins as long as listed in the exchange will pomp, and with their power to manipulate the price, it would attract the newbie to ride with the FOMO but then regret their wrong decision. every time we FOMO we regret that's the real thing,.. actually we can see a lot of coins that are listed in Binance got pump and now it's value is very cheap.
That is actually true, the rush for newly listed coins can be equated to anything especially when it involves Binance exchange but the table is turning around now and leading to people being bag holders. If a coin is actually good there is no need rushing after it, just relax and get it because once trading starts it will dump. Many people have learnt from chasing after a moving train while many are yet to, those who have learnt stays away from fomo while those who are yet to, continue getting trapped. Also, most people don't research on these newly listed coins because they have the mindset that, since it is on a big exchange, there must be something good about the coin. Furthermore, fomo is not only on Binance exchange, it is something that exists within all top exchanges.
You can take the advantage of this scenario but you need to be quick and never lose your sight with your trades. But if you think that you can't do that, avoid it those newly listed coins even in Binance.
This FOMO is everywhere.
Even with news and other stuffs, people tend to FOMO because of bad and good news.
Couldn't agree more. Perhaps, some people out there took the advantage of such news quickly though. But may be majority didn't get the chance as dump happened so quickly. So, I totally agree to this man, if you can't handle quick stuff like this you better get out of the scene it might be bad for you. Reminds me of my friend, boasting around telling that he had bought some good coin, and when we checked out, it turns out to be the opposite of what we especially he expect. This FOMO is everywhere.
Even with news and other stuffs, people tend to FOMO because of bad and good news.
But I have proved to myself that bitcoin will always be the best choice no matter how promising these new coins are. And Binance doesn't guarantee profit whether it will list some new good or bad coins depending on their standards.
i prefer to join community giveaways and important airdrops than jump into an exiting altcoin that just got listed on a tier 1 exchange. i bought foam when it was listed on poloniex. i can tell you that till date, the coin has never got back to it listing price. it fall below ICO price, listing price. i am even scared the token might be delisted on poloniex. this force me to sell out with little or no gain.
i regret such trade and it will never happen again.
i regret such trade and it will never happen again.
You can take the advantage of this scenario but you need to be quick and never lose your sight with your trades. But if you think that you can't do that, avoid it those newly listed coins even in Binance.
This FOMO is everywhere.
Even with news and other stuffs, people tend to FOMO because of bad and good news.
Couldn't agree more. Perhaps, some people out there took the advantage of such news quickly though. But may be majority didn't get the chance as dump happened so quickly. So, I totally agree to this man, if you can't handle quick stuff like this you better get out of the scene it might be bad for you. Reminds me of my friend, boasting around telling that he had bought some good coin, and when we checked out, it turns out to be the opposite of what we especially he expect. This FOMO is everywhere.
Even with news and other stuffs, people tend to FOMO because of bad and good news.
Recently there have been a craze and buy rush for any coin new listed on Binance but usually turns to a nightmare for those who FOMO too early. $MBL which was listed today because they won vote for community coin dumped from 59 sats to 30 sats within some minutes.
Even if you must do, use tight SL and moreover there is no point chasing a moving train.
Even if you must do, use tight SL and moreover there is no point chasing a moving train.
Ive seen how the coin pump during the time it was still on voting session. I know that most coins during coin vote session pumps hard. From 20 sat to 50 sat the price of this MBL and when it got listed it go down to 30 sats. Anyway I like your advise but market is really crashing like hell especially if the whales are keep interrupting and manipulating the price at will.
Not only in Binance, but in most exchange this happens. When a coin listed, it goes up too quickly, probably the team members pump it artificially, and then the FOMO hunter gets all it dumped.
Hunters? This isnt about bounty. The project was nominated in Binance community voting and win. The timing of dumping as stated could be worse to those who FOMO and bought at maybe 50 sats. Dont just butt in if the topic youre talking is out of discussion. 
Thanks for this piece of information and advice. A lot of people I saw really was caught by MBL dump upon Binance listing. I saw a lot of people bagging MBL tokens just because MBL won Binance listing. That's funny though. But let's not always expect every listed coin on Binance to do wonders. Otherwise we keep getting rekted.
There is different between a free listed coin that wins a contest and a project that paid to get listed on binance, they aren't same thing, I'd rather FOMO on projects that paid than project that listed for free
Indeed it is better to risk it on a project that is willing to spend their money for a greater opportunity or publicity than for those who only keeps their funds and rely on free listing.Those new project had gained money from investors so why not spend it to make their project better?
Only few of the new projects are willing to do it because most of them are so greedy to spend what they already earned.
I think this whole thing came about when Binance started its series of IEO. Several people made lots of money out of it but those projects that were launched that time had good use cases and working product too. Other blockchain start-ups want to buy into this hype hence listing all sorts of worthless projects up there and this is why the two coins listed fail though it got listed on Binance.
if there are no use case and utility of the coin it will surely come crushing down lol.
if there are no use case and utility of the coin it will surely come crushing down lol.
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