Fighting your own FOMO | Bitcointalksearch.org

Malsetid

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Quote from: Naida_BR on March 25, 2019, 04:16:25 AM

Quote from: Idrisu on January 30, 2019, 04:45:44 PM

Meditating is good especially when you have no control over your mind base of the prediction and fake or good news that flow into the market. I think we are not going to follow those FOMO if we really want to succeed in our trading. You need to listen to gut to succeed in this market.

Meditation is a good solution for fighting your desires.
It is a way to clear your mind and forget about the thoughts that bombardize your mind. In order to avoid FOMO I also don't read news in the websites that don't seem credible to me.

The thing is, what causes fomo are news that does seem credible to a lot of people. But the longer you stay in the market i think the more you get matured. It's going to be hard to fight fomo when you'e new to the market and you're seeing a pump for the first time. Maturity will come naturally and eventually, fomo will not be that hard to resist.

SvonioneFromMangoCoinz

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Quote from: Ahasca on September 23, 2018, 11:54:35 AM

Human nature is full of greed, and FOMO. Not just in trading but in life as well. And once you recognize it for your trading, you can recognize it in your day to day life as well, and fighting it can help you deal with every day situations with more rationality and logic.

What sort of psychological tricks do you use on yourself to combat your own FOMO? Do you still get your own FOMO hitting you when you see a coin blowing up all over the place?

Myself, I practice JiuJitsu as well have learned good meditation from a solid instructor, but the most help I have is from support from fellow traders in a good community. Hahaha like a support group!

I'm still keeping my composure before the FOMO. I think something that gets too much attention is no longer valid. It will not bring me profit or bring me risks.
so i just go ahead of people instead of i follow the FOMO news. I'm always special to make more money.

Xenrise

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I got a lot of trades or trade call from a friend in which we have a gc in messenger and telegram and in there, he will announce the trade we'll be doing. And by that, I get to have a lot of trades and most of it are so accurate that made me a lot of profits. That guy was so great to have. Unfortunately, I get to miss a lot of trade also. I had a FOMO in trading but that ends well because my friend told me how to make my FOMO go away. He told me that there lots of trade left and there's nothing to stop trading in cryptocurrency. So, he said that just follow my trades and and forget you might as well fight your FOMO.

oceantiger

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Fomo is what I called revenge trading. Once a trader who is not discipline loses trade the next available trading set without due analysis will become his missed opportunity to recover the loss. This is part of greed and avarice which is not good both in trading life and conventional life. I use trading plan to counter the effect of FOMO in my trading life.

Naida_BR

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Quote from: Idrisu on January 30, 2019, 04:45:44 PM

Meditating is good especially when you have no control over your mind base of the prediction and fake or good news that flow into the market. I think we are not going to follow those FOMO if we really want to succeed in our trading. You need to listen to gut to succeed in this market.

Meditation is a good solution for fighting your desires.
It is a way to clear your mind and forget about the thoughts that bombardize your mind. In order to avoid FOMO I also don't read news in the websites that don't seem credible to me.

iv4n

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Quote from: Gozie51 on March 25, 2019, 01:53:01 AM

FOMO is not new in human lives apart from crypto business. We always don't want to be late when it has to do with money either in gift or business investment. For example, seeing a bull move in market, we want to hastily get into it to pick out our own from the run. Although, such haste could be risky if research is not properly done.

You can have what you want if you have realistic wishes, if you have big wishes it`s hard to make all of them true. Fighting with FOMO is actually fighting against yourself, you need to know what you want, your wishes, when you know that you can concentrate on that and not have a fear from missing something, anything. Don`t fear that you will miss something cause that`s a life, you can`t be everywhere in the same time, find your own fun and work for your own goals.

Gozie51

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FOMO is not new in human lives apart from crypto business. We always don't want to be late when it has to do with money either in gift or business investment. For example, seeing a bull move in market, we want to hastily get into it to pick out our own from the run. Although, such haste could be risky if research is not properly done.

bonker

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Quote from: maxreish on March 24, 2019, 09:24:46 PM

We can always integrate our greed in trading to our daily life. As long as we manage to control ourself, we can still gain success whether on our trading or with our daily purpose in life. We can sometimes fall for the FUDs but as we stayed for so long, we are learning and we tend to realized that FOMO is just a bait for us to fail in trading.

FOMO in crypto trading can be good as well,we all might heard that buy FOMO and sell FUD,so we need to buy the coins when we are facing the market with fear.We don't have to follow the feeling of others because it is just simply making us to be in loss.

freedomgo

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What I know is that FOMO is bad but good for people who knows how to control themselves. Grin

This market is full of speculation and hype and usually the newbies can easily FOMO and this would benefit us matured people as we can take
advantage of their weakness. If we have matured, we might think like whales, and as they FOMO the value will only increase which makes us profitable.

The last bull run is driven by FOMO, and resulted to a overvalued price.

maxreish

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We can always integrate our greed in trading to our daily life. As long as we manage to control ourself, we can still gain success whether on our trading or with our daily purpose in life. We can sometimes fall for the FUDs but as we stayed for so long, we are learning and we tend to realized that FOMO is just a bait for us to fail in trading.

Whosdaddy

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Quote from: gantez on February 26, 2019, 06:18:54 AM

Sometimes we are the cause of our loses, greed takes over us and we keep staying in the market even when our target profit has been reached, this is one issue about FOMO.

You hit the point mate, the number one problem of crypto traders in greed and not until they lose several times before they learn their lessons. Though it took me too 2 great losses to learn my lesson before I stopped being greedy when trading, I trade without putting any form of risk management in place but I ever since I got to know better, I virtually make profit everyday day trading without any form of losses no matter how little the profit might seems. I have also learnt to make use of my stop loss too which is a vital trading tool.

StarofBTC

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Quote from: Ahasca on September 23, 2018, 11:54:35 AM

Human nature is full of greed, and FOMO. Not just in trading but in life as well. And once you recognize it for your trading, you can recognize it in your day to day life as well, and fighting it can help you deal with every day situations with more rationality and logic.

What sort of psychological tricks do you use on yourself to combat your own FOMO? Do you still get your own FOMO hitting you when you see a coin blowing up all over the place?

Myself, I practice JiuJitsu as well have learned good meditation from a solid instructor, but the most help I have is from support from fellow traders in a good community. Hahaha like a support group!

Anything called money brings Anxiety, as it is now, virtually everyone is anxious about the waves expected of this year bitcoin be it trader or an investor, but when it gets to trading, I usually don’t allow my emotion take the best of me, I already set my mind on successful trading and don’t allow greed in, I take my profit when due no matter how little even if I see it rise far above the profit I took, it is better to win than to loose.

I also read more of great analyst news with great hopes on the coin I invested in, I don’t read negative news at all, one I see one through the headline, I skip it. Since I do my technical analysis with various indicators available to me, I don’t think I need to read any bad news that the good one.

Supercrypt

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This is difficult only for people who have FUD in their systems that needs to be flushed to get into FOMO stand point. There are those of us here who did not lost any hope of bitcoin or crypto currency even during the horrible year 2018, it doesn't matter how much bitcoin drops I believe it will always go up. Going to 20 thousand dollars and dropping to 3 thousand dollars only tells me bitcoin CAN go to 20 thousand dollars and its possible and it doesn't tell me bitcoin is dying or ending.

There are people who see the drop as the end of bitcoin, I see it as only the start of what bitcoin can become in the future. The point is, do not lose hope at the worst of times and you will not have to gain hope during the bottom prices, as long as you are always hopeful you will always get richer during bull runs.

gantez

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Sometimes we are the cause of our loses, greed takes over us and we keep staying in the market even when our target profit has been reached, this is one issue about FOMO.

armarsterling7

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Quote from: Ahasca on September 23, 2018, 11:54:35 AM

Human nature is full of greed, and FOMO. Not just in trading but in life as well. And once you recognize it for your trading, you can recognize it in your day to day life as well, and fighting it can help you deal with every day situations with more rationality and logic.

What sort of psychological tricks do you use on yourself to combat your own FOMO? Do you still get your own FOMO hitting you when you see a coin blowing up all over the place?

Myself, I practice JiuJitsu as well have learned good meditation from a solid instructor, but the most help I have is from support from fellow traders in a good community. Hahaha like a support group!

I never believe in news in crypto market. I only analyze the psychological developments of the majority of investors and sharks to make investment decisions. Because sharks in the crypto market are numerous and they are often the price controllers.
so I don't care too much about FOMO, or I often do the opposite of FOMO. It is quite effective in some cases. Grin

Greed Dev

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Quote from: Ahasca on September 23, 2018, 11:54:35 AM

Human nature is full of greed, and FOMO. Not just in trading but in life as well. And once you recognize it for your trading, you can recognize it in your day to day life as well, and fighting it can help you deal with every day situations with more rationality and logic.

What sort of psychological tricks do you use on yourself to combat your own FOMO? Do you still get your own FOMO hitting you when you see a coin blowing up all over the place?

Myself, I practice JiuJitsu as well have learned good meditation from a solid instructor, but the most help I have is from support from fellow traders in a good community. Hahaha like a support group!

My strategy is not to join those groups that give growth signals of some altcoins. I simply read a lot of news about crypto, altcoins, new tokens I could know and analyze it quickly.
We need to analyze and make decisions ourselves. not decided by the crowd and that's my strategy.

sedahan13

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Yes difficult fo fighting with natural emotion of greedy and FOMO, and to control it not necesary to do meditation but we should be have better management of risk and money, we should be also have target profit and after target profit achived we should be out from the market and use that profit to buy asset that has lower risk, like gold.

bohr

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Quote from: Ahasca on September 23, 2018, 11:54:35 AM

Human nature is full of greed, and FOMO. Not just in trading but in life as well. And once you recognize it for your trading, you can recognize it in your day to day life as well, and fighting it can help you deal with every day situations with more rationality and logic.

What sort of psychological tricks do you use on yourself to combat your own FOMO? Do you still get your own FOMO hitting you when you see a coin blowing up all over the place?

Myself, I practice JiuJitsu as well have learned good meditation from a solid instructor, but the most help I have is from support from fellow traders in a good community. Hahaha like a support group!

You are using a very interesting technique to avoid that fear, what I do is simply to look at the market and see if it is the right time for me to enter the market, if it is too late I just forget about that coin and look for another one, after all we have thousands of coins in the market missing the moment a coin goes up in value is not a big deal as long as you can find other coins that will do the same.

Idrisu

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Meditating is good especially when you have no control over your mind base of the prediction and fake or good news that flow into the market. I think we are not going to follow those FOMO if we really want to succeed in our trading. You need to listen to gut to succeed in this market.

Matthewmorris4

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Quote from: Ahasca on September 23, 2018, 11:54:35 AM

Human nature is full of greed, and FOMO. Not just in trading but in life as well. And once you recognize it for your trading, you can recognize it in your day to day life as well, and fighting it can help you deal with every day situations with more rationality and logic.

What sort of psychological tricks do you use on yourself to combat your own FOMO? Do you still get your own FOMO hitting you when you see a coin blowing up all over the place?

Myself, I practice JiuJitsu as well have learned good meditation from a solid instructor, but the most help I have is from support from fellow traders in a good community. Hahaha like a support group!

yes, everyone has their own way.
for me, I keep assets in a separate wallet, like coinomi or blockchain wallets. Not in the exchange. that is why when there is good news about certain coins that can cause FOMO, you cannot be rushed, you will think "transactions to wallet exchange will take time and maybe I will miss, better just leave it alone or it's just will waste cost fee." and then you will cancel to send your coins and didn't follow any FOMO

Topic: Fighting your own FOMO (Read 555 times)