Hey all, I am new here: I've been reading a lot, and not posting much at first. You have a great place to learn at BCT. When trading crypto do you expect better, from yourself, but then impulsively jump into things due to FOMO? Has anyone reading this ever found a cure? How do you permanently change and naturally be patient? Thanks all.
Practice is the only cure. It's a time taking process and obviously you'll lose a lot of money in the process as well but almost everyone went through this process before becoming a good trader. Better is to go with low amount trading, so that you lose lesser amounts while you are learning this skill. 
Topic: Do you expect better, but then impulsively jump into things due to FOMO? - page 5. (Read 526 times)
August 31, 2023, 02:57:48 PM
August 31, 2023, 02:53:04 PM
When trading crypto do you expect better, from yourself, but then impulsively jump into things due to FOMO? Has anyone reading this ever found a cure?
It has almost happened to everyone may be while we are still newbies and then invested in bitcoin with the expectation that the market will surge within the shortest period but instead continue to go dip and maintain being on bear mode for so long, there are also times that we got negative impression from what we hear from the news about cryptocurrency.
How do you permanently change and naturally be patient?
Maybe sometimes we got consolidated from friends or when the market pumps back to give us more hope that the market will keep rising, it's just that in most cases, we do forget that we are dealing with a volatile cryptocurrency, bitcoin can rise and fall at anytime, you can not have an assurance of this if you had invested on altcoins you're not sure about.
August 31, 2023, 12:16:27 PM
Hey all, I am new here: I've been reading a lot, and not posting much at first. You have a great place to learn at BCT. When trading crypto do you expect better, from yourself, but then impulsively jump into things due to FOMO? Has anyone reading this ever found a cure? How do you permanently change and naturally be patient? Thanks all.
There is no permanent cure for this feeling of FOMO. Most of the newbies fall for this sentiment and lose their assets. But pro traders also fall for this sentiment because sometimes, other than BTC or some good coins, there are projects that look attractive but are not. Those good promises and posters sometimes attract all types of people, whether they are newbies or not.But there is a cure for it, which is different in different types of scenarios. For example, if you wanted to invest in Bitcoin but also wanted to buy it at its lowest point, But you wait for a time to get the market to that lowest point, and in that journey, BTC moved up, and you started to think the market would never come back, so you jumped into the market while that FOMO hit you to take action at the current price while the possibility of the market coming down was also there.
The above scenario also works for those who wanted to sell BTC at a certain price, but because of FOMO, sometimes they sold lower and then the price of BTC went higher.
August 31, 2023, 10:57:45 AM
Lol nothing you teaches a better lesson than having the mistake yourself and losing money. There's all these available lessons about investing and trading out in the public but nothing convinces you of any lesson(inside and outside of trading and investing) than you experiencing it yourself.
August 31, 2023, 10:44:34 AM
If you jump due to FOMO without made a depth research, you will not learn anything because either you're make money or lose money, it's all because of your luck. Although trading also require luck since there's might an unpredictable news will comes up, but at least you've try to analysis and learn the market.
The point of trading is experience and learning.
The point of trading is experience and learning.
August 31, 2023, 10:34:12 AM
Hey all, I am new here: I've been reading a lot, and not posting much at first. You have a great place to learn at BCT. When trading crypto do you expect better, from yourself, but then impulsively jump into things due to FOMO? Has anyone reading this ever found a cure? How do you permanently change and naturally be patient? Thanks all.
Don’t check price frequently and only follow tokens that you add on your watch list so that you will not be FOMO if some bullish news appear on other coin that you don’t have any idea which is the main cause of FOMO or what called APE (buy in impulse and do research later).
Just trade tokens that you are following so that you will be comfortable to buy and sell since you knew in details what’s happening on the inside.
legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform
August 31, 2023, 10:29:33 AM
Fortunately, my low impulsiveness in the markets has meant that the only thing I have done is sell earlier than expected. So far I have been lucky because the times I have sold have been at high points in the market, something that has happened to me in the stock market above all and also in bitcoin.
Sometimes you learn the hard way, when you lose a lot, but some people don't even learn that way. I would recommend that you don't trade, take the long term. And stay away from casinos too, they can be disastrous for people who have problems controlling their impulsivity.
How do you permanently change and naturally be patient?
Sometimes you learn the hard way, when you lose a lot, but some people don't even learn that way. I would recommend that you don't trade, take the long term. And stay away from casinos too, they can be disastrous for people who have problems controlling their impulsivity.
August 31, 2023, 09:57:56 AM
Yes, but only when I was new to crypto sphere. Now, I can control my emotions and have found ways to control the urge to follow FOMO sentiment. Knowledge is power which could help one to control the urge of getting into FOMO. So, my advice to all is, try to get more knowledge about something they wanted to start investment in. Because once you will gain the knowledge then you will know what results you could get in all possible scenarios.
I have a friend in my circle, who was asking to invest in BTC, when the price was at $25500. I said him to take entry so that he would at least be safe from FOMO but he did not listen to me and today he told me he should have taken the entry at $25,500 (around this price). He learnt the lesson hard way but still he did not lose much as BTC is only $2000 up which in my sight is not that much.
Point is, to avoid FOMO we have to buy at least some of the Satoshies with some of our money. Like we should not do Lump Sum instead use only 10% to 20% of your investment so that you could avoid FOMO.
I have a friend in my circle, who was asking to invest in BTC, when the price was at $25500. I said him to take entry so that he would at least be safe from FOMO but he did not listen to me and today he told me he should have taken the entry at $25,500 (around this price). He learnt the lesson hard way but still he did not lose much as BTC is only $2000 up which in my sight is not that much.
Point is, to avoid FOMO we have to buy at least some of the Satoshies with some of our money. Like we should not do Lump Sum instead use only 10% to 20% of your investment so that you could avoid FOMO.
August 31, 2023, 09:27:45 AM
What you are talking about is letting emotion to be controlling you. If you are a newbie, you will experience that. Even if a trader is not disciplined enough, he may be controlled by emotion.
But sometimes, it is good. Example is when the market is overbought or oversold so much to a greater extent, a good trader may see it as a good opportunity to open a position.
Trading is more than that though.
But sometimes, it is good. Example is when the market is overbought or oversold so much to a greater extent, a good trader may see it as a good opportunity to open a position.
Trading is more than that though.
August 31, 2023, 08:49:39 AM
Hey all, I am new here: I've been reading a lot, and not posting much at first. You have a great place to learn at BCT. When trading crypto do you expect better, from yourself, but then impulsively jump into things due to FOMO? Has anyone reading this ever found a cure? How do you permanently change and naturally be patient? Thanks all.
Jump to: