Topic: Do you expect better, but then impulsively jump into things due to FOMO? (Read 518 times)

Yes trading is more than all those. Trading is more than seeing an opening and jumping in for a quick bite because you might end up being beaten seriously. When the rush is on, a good trader is suppose to ask why, how and when that will end and so the why and when it will end are important. They can indicate the entry if the why favours you and when indicates the exit. If a trader follows the rush, it is dangerous quite some time. It is also risky to rely on overbought or oversold because the price might remain in such position longer than you have expected and you lose your money. It is better waiting for your position in trading and not to speculate on it. It still depends though because you can still scalp a fast one.

I think FOMOs are quite common on people who are new to trading, and I think it's because of lack of experiences and knowledge. Sometimes, FOMOs can result to wins but oftentimes, decisions and actions that are driven by FOMOs usually led to a major loss. So basically, if you are a trader, your emotions should not affect your trade because that is one of the rules of being a trader.
All I can say about this is you have to stick to your strategies and plan, because this will help you to avoid making impulsive decisions. Simply, you should not be carried away by your emotions when making trading decisions and be logical and objective at all times because this would help you in the long run.

I would say that's at least towards the good level, doesn't mean that it will go up, but if you are having FOMO then that means you are expecting it go up and that's a good thing. FUD is even worse than this, you end up losing money and that should be something that that hurts you the most.

I personally believe that FOMO could end up with a better result even though that is still emotions that you are dealing with, and we should not be expecting it to change all that easily. I get that some people think that it is going to be fine, but that doesn't mean that we are going to end up with something that should be hopefully all that return. I get that we are going to end up with not going up at times, and that's why FOMO may feel like it is not a smart move when it is not going up, but that doesn't mean that you are going to end up with a bad result at all times, sometimes if you have FOMO and buy which also needs a bit more holding, then you could make a profit without a doubt.

If you are referring to this how we trade it all depends, if you make a FOMO before the price of the coin you want to trade goes skyrocketing its not a bad choice but seeing already the price of the coin already possible in its peak I guess seems like you are just wasting your time and money with that trade, or last sort of it is you have a good plan to make another exit and entry points sometimes it's just a first wave of the pump reason why ideal if you have a good technical analysis for another opportunity.

Just dont really make yourself that impulsive or do lack some patience because this is usually the issue for those people who do tend to start up with trading venture but since they do lack knowledge and experience then those emotions would really be the main culprits on why they would really be that subject into lots of errors and mistakes which causes up for losing money and this is something that  you should really be that
trying out to adjust if you do want to sustain into this market. Feeling of FOMO is really that common among newbies or even to those old timers because we dont really know on how the market would really be behaving and if positive sentiments had been spammed out on the market then even to those old or veterans are still that prone or really that subjected on getting that FOMO feeling on which it is really just that normal on having that kind of emotion since we are just humans. Actions would be made would really be entirely depending on how experienced you are on different market conditions or situations on which
you are really that making yourself that wary on what are the things that must done.

FOMO is basically a pointer that your emotions are in control of your actions. As a trader you need to have a strategy which must play out for you to take a trade and if it dosent as planned then your Stop loss will be hit and you wait for next signal. when FOMO drives your action you wont have a reason for placing a trade which is not supposed to be. just ensure you have a working strategy, have a trading book, manage your risk and be able to defend your trades in relation to your strategy.

In addition, it is very valuable on the other hand, I think that is the only important point that we can make a reference for a better future, you are right and of course everyone, especially those novice traders, comes with different traits and also with different knowledge and understanding. They always have the best ways and assumptions according to themselves to make progress, everyone as a trader will definitely experience such phases and conditions as their starting point to success. As we know that trading not only requires deep knowledge and understanding but we also really need a good personality, especially in terms of responsibility, they must also have a strong mentality like a warrior and psychology that is always good. Because obviously those three things will always launch and help their trading plan will run as expected.

I think experience in trading is the main thing, which means learning from a bad experience that we have experienced and also maybe we can see how other people's experiences, there we can do self research, take the positive side and discard the negative, obviously it will make someone more advanced and developed. As we know learning from experience will always be the best way for a better future. So the point is that we have a lot to prepare as traders, mental, psychological is very necessary because only that can be used as a balance to minimize losses and achieve the expected profit.

Every Trading strategy requires patience for one to be profitable, You cant jump into any trade if it does not meet your criteria sometimes you will miss the moves but it is better to wait cause it is not all  the time that it will plays out .Trading is hard it requires lots of knowledge,a good strategy and patience for one to be successful in the field.

that is a valuable lesson. because everyone learns in different ways to ultimately become better. like what you and I experienced, and maybe more traders also experience something similar. and this valuable experience makes us better at making choices.
Maybe there are people who are successful in very simple ways without even experiencing losses. it may be because they learn from other people's experiences and become more careful. while some other people choose to learn from their own experiences.
all of which make us wiser in the future. making the choice to trade or exit may sound easy but for those who are beginners, it will only be influenced by ambition and greed.

Frankly speaking, often, if you are the first to jump on the FOMO train and get off it in time, you can make good money. The main thing is not to get carried away and keep, as they say, your nose in the wind. Yes, there is always a risk of losses, but luck loves those who do not sit still.

Everyone has certainly experienced this. We all became a victim of FOMO especially in our newbies days and it think it’s somewhat hard to avoid especially if we want to grab every opportunity around just to be profitable. And it all turns out that FOMO will only lead us into unexpected losses and missing opportunities that we’re supposed to have. And once we learned our lesson, at least we know already not to fall from FOMO again.

We've all been through it, and there is no exception for anyone in this. Anyone who gets into something as a newbie will have to face difficulties initially and then they start learning everything with time and then they start realizing what mistakes they've been making throughout this time. I once lost about $2,000 just because of FOMO, I bought when everyone started selling and the token was dumped very badly and I was left with nothing but dust.

However, the problems and mistakes make us stronger as a person and as a trader as well. The money that we lose will teach us a listen that we will remember for the rest of our lives and that is more valuable than the money itself. We should strive to learn and grow and never give up.

You’re right indeed. Trading requires consistent focus and deep determination to be successful and reach your goal. So if you suddenly change your direction and decide to ride in FOMO instead, it will only ruin your attention and eventually mess up with your trades. At the end of the day, you will realize that your trades are no longer working according to your plan. FUDs and FOMO are among the factors that we should learn to avoid. Otherwise, success will only remain as a dream.

I've also had trouble following FOMO in the past. I am very slow in understanding things, in fact, I have to lose quite a lot until I can finally overcome the problems within myself.
I don't know the reason why I tend to get caught in mistakes that I have actually experienced. I have tried to be careful and tried to be consistent with planning, but to be honest, it all requires a process that is not instant.
it all depends on how they can control themselves.

This seems easy to say but difficult to do. Finding the root cause should be done like what triggers you to fall into FOMO is it social media? that you've read a post about it? then if it is, then stay away from social media for a couple of hours or a day until your emotions stabilize, don't trade on this time either. If it triggers you while you are planning an entry, then it is better to stop first, let yourself cool down and back again in trading and youll need to again plot your entries and explain why you are taking those entries.

Emotions are our greatest enemy in trading because, apart from strategy our emotions are one reason why we keep losing our trades because we can't control them.

You need to control and discipline yourself because if you can't, then you'll get used to it. Experiencing to lose your money due to wrong decision can also serve as an eye opener to you. It is also one of the reason to be careful not to repeat the same mistakes again. Therefore you'll avoid doing things that led to losing your money just like what happened before.

Anyway, it's normal to be influence of FOMO especially the newbies in trading. But if you have plan and don't want to lose your funds, this can't affect your decision since you're careful and aware of the risk.

Focus on your goal and never trade if you have unstable emotions. That way, you can prevent yourself from falling into FOMO or any fud that will definitely ruin your trades. Also, when trading always be open with initial losses because that’s that nature of trading, but when you gained years of experience, that’s the time that you can control your losses and start maximizing your gains.

Mistakes or errors are really that the stepping stones to make yourself that better which it isnt something that would really be limited just with trading but also in other things as well on which you would really be that able to apply on whatever things that you are dealing specially if you are really that a complete newbie where mistakes is really that common and something that would really be that the main challenge that you would really be that needing to adjust accordingly basing up on the things that you do encounter. It would really be just that common sense that you would really be adjusting out basing on what you had faced on. You wont really be that
that so dumb not to make out some adjustments if ever you are already that aware on the condition or situation. Speaking about unpredictable markets then we know that this crypto space is really that totally having that volatility and unpredictability which is really that more than into those typical investments and markets that we do encounter.This is why having that emotion and mind control would really be that necessary for you to
be able to sustain yourself at least into this space. FOMO and FUD are the main things that you would really be able to meet up along the way.

It happened to me almost at the beginning of my trading. I'm still a beginner trader and still adjusting to it. It is just like you know where the price is likely to go, you know when to make a move. You know what session to buy, but then... I entered an unnecessary trade. My wins are also being taken by my small losses considered as human error caused by my impatience, greed, or boredom.

What I would suggest is to have a constant review of your behavior and work towards your negative notes little by little. Don't overwhelm yourself. Another is to have a life outside trading. Don't rely too much on your profit for your living or else you will carry a lot of pressure on your back.

It's more about you not us. So what I do when I think that this is the time to buy, I do it as long as I've got money ready. And talking about patience, it's learned through the process. When you've been in this market for years, you get to understand what I am saying about being patient because you have gone through several bear markets and unexpected dumps. With those, your patience has been leveling up and no one can stop you from having that thought of yours that if the market is so bad then it will eventually get up and become better later. FOMO is underrated, sometimes we tend to think that people do that because they're new but even the experienced folks, we're also doing FOMO. Control yourself and have a set of plans that you're going to follow, really going to be followed by you. You may not permanently change at all or you're just going to do that temporarily but you'll notice those changes.