FOMO In Crypto; How to identify It - page 3.

hassancisse

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Quote from: sujonali1819 on June 16, 2020, 01:22:26 AM

FOMO is the very risky word in the crypto trading. Most of the time FOMO will destroy your capital. Only very rear time FOMO can give you some profit if you will smart enough.

Fomo helps you to think all positive things before buying any coins. After buying the coins all thought start to going false. Thus some greedy people fall in fomo and loss the investment. To reduce fall in fomo you should do,

1. Always try to research ownself before starting trade
2. Don't follow any telegram or other social media signals.
3. Don’t follow if someone shill in the exchange chat box.

These are some basic rules to follow again so as to avoid FOMO. Have experienced fomo before and till today have not gotten even the capital I invested back. I’m waiting for the coin to go back to the selling price

Mpamaegbu

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Quote from: bigcash2011 on June 13, 2020, 10:58:52 AM

FOMO is very bad if you enter late or near the peak of the price ...

Just like those who bought Ripple at ATH of $3+. I bet they still regret it till date because we don't know when or if Ripple will ever recover to that level again. Well, this isn't to take anything away from FOMO and the good side of it. I have been caught in it too, on the wrong side . But I think am wiser now unlike the newbie days. From hindsight I have come to know that the best move is - buy only into coins with utility even if they aren't hyped and be ready to sell off once other traders begin to rush in.

Yatsan

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Quote from: Assface16678 on June 19, 2020, 12:36:45 AM

Fear of Missing out or FOMO is one of the factors that many people would like to tell to the newbies to avoid because some of the traders want to make trades every time but not all the time FOMO is a mistake because sometimes it brings a good impact this is like a profit if you got the right market which you think will give you a good market income. If you are just a person that likes scalpers or people who made a trade for over three above every day there is a chance that you are doing a FOMO too because you always grab the opportunity to make an income as soon as you see there is a market movement on the coin.

I'm a trader which is usually being a FOMO because I have a daily quota need to satisfy my income which is good because most of my trades get an earning but I'm not telling that all of those trades are wins but the end of the day profit is the matter.

I am guilty and always FOMO in my trade but in a good way, I usually do a leverage trading so if I see a certain coin that is pumping then, that is really a good opportunity to scalp and ride the pump, even thought I am slightly late I still make a decent profit by riding it and having a 20-50 leverage in my trades. FOMO is bad if you have no idea of what you are getting into, but if you are knowledgeable about the market I am sure you can take advantage of it.

Assface16678

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Fear of Missing out or FOMO is one of the factors that many people would like to tell to the newbies to avoid because some of the traders want to make trades every time but not all the time FOMO is a mistake because sometimes it brings a good impact this is like a profit if you got the right market which you think will give you a good market income. If you are just a person that likes scalpers or people who made a trade for over three above every day there is a chance that you are doing a FOMO too because you always grab the opportunity to make an income as soon as you see there is a market movement on the coin.

I'm a trader which is usually being a FOMO because I have a daily quota need to satisfy my income which is good because most of my trades get an earning but I'm not telling that all of those trades are wins but the end of the day profit is the matter.

lienfaye

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FOMO is happening if the particular coin is starting to increase consistently. Without doing any research we buy and go with the flow hoping to make many as well like others.

It happened to me few times when im still new here. I thought its a good decision since others are doing it too, but the problem will occur right after you buy when the coins you bought started to decline and you buy yours at peak price. Its a lesson learned for me, thats why its a must to understand the market and the coins you're going to buy.

Saisher

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Quote from: GreatArkansas on June 13, 2020, 10:50:45 AM

There are also times that being FOMO is positive; high-risk high reward.
You entered a trade on the top but you still can profit it, just like riding along with, that's why it is a risk. It's like catching a falling knives if you enter a trade because the reason is just a FOMO.
But I saw some traders who tried to make profits on it, they entered a FOMO trade but they exit in after a short period of time or once they already in profits.

These are the people who already made a research they knew that this is FOMO and will not last long, they next an exit point before the dump begins and once they exit in profit they never look back, some do this in new coins market, every new coins are hype for people to perceive it as the next FOMO.

crzy

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Quote from: durilup on June 18, 2020, 09:52:48 AM

I my opinion 'fear of missing out' starts when more and more influencers talk about cryptocurrencies on online streaming platforms such youtube,twitch etc.

The hype is very powerful and that can affects the emotion of every investors. If FOMO kicks you in, then it will be hard for you to get out of that trap. I experienced this one and the result is bad since I lost all my money because of FOMO and besides its not really good to buy during pump. Don't FOMO, just know when to buy and sell and you'll be good.

stomachgrowls

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Quote from: MCobian on June 18, 2020, 04:58:52 PM

I agree with the 4 points mentioned in the opening post about identifying FOMO, and sadly, I am among those who have
do it. Therefore, when trading we must be able to control emotions, so do not be influenced by others. Actually if we are
can be calm and not easily panic FOMO can be avoided, but sometimes human forget themselves.

Being calm sounds too easy but when you are on the actual situation then it would already be hard for you to control ones you are there but

somehow with due experience you would eventually be aware if the price is already on the FOMO side.Profits will vary on how you do act with it.

Quote from: Kasabus on June 18, 2020, 03:41:01 PM

Quote from: Dhoe on June 18, 2020, 07:50:40 AM

FOMO often happens for those who do not do their own research or analysis on coins to be traded. But for those who always do analysis first, we can prevent FOMO by not being careless or in a hurry. In trading, you need to be relaxed and calm, don't panic.

FOMO are mostly happening in newbies because they can be easily lured by those coins that have made significant surge even in a short period of time and without doing proper analysis. Emotions are our best enemy in trading and if we do controlled by it, we cannot do anything good in trading but mostly fall into losses.

This doesnt only affect newbies but even veteran ones due to normal human instinct and being too emotional.I can say such thing yet i've experienced still these kind of scenario
in spite on having that sufficient awareness on how market works.

It all matters on how you do handle out and be cautious into your actions.If you do see that the price is already at its peak then why would need for you to buy or position in?

MCobian

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I agree with the 4 points mentioned in the opening post about identifying FOMO, and sadly, I am among those who have
do it. Therefore, when trading we must be able to control emotions, so do not be influenced by others. Actually if we are
can be calm and not easily panic FOMO can be avoided, but sometimes human forget themselves.

spike420211

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Quote from: durilup on June 18, 2020, 09:52:48 AM

I my opinion 'fear of missing out' starts when more and more influencers talk about cryptocurrencies on online streaming platforms such youtube,twitch etc.

The beauty of FOMO is that to rock the situation it will be enough to create the right news background.
This is a favorite technique of scammers that simulate various distributions of coins on behalf of media persons and large YouTube channels.

Ordinary people fall into a completely obvious trap, pure speculation.
Imagine what will happen to people if real market movement joins the news background.

This is how whales make money.

Kasabus

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Quote from: Dhoe on June 18, 2020, 07:50:40 AM

FOMO often happens for those who do not do their own research or analysis on coins to be traded. But for those who always do analysis first, we can prevent FOMO by not being careless or in a hurry. In trading, you need to be relaxed and calm, don't panic.

FOMO are mostly happening in newbies because they can be easily lured by those coins that have made significant surge even in a short period of time and without doing proper analysis. Emotions are our best enemy in trading and if we do controlled by it, we cannot do anything good in trading but mostly fall into losses.

Mahanton

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Quote from: el kaka22 on June 18, 2020, 02:22:40 PM

As long as you do your research on any project you want to invest into (or a big coin) you can't fall for FOMO. FOMO is when price goes up too much too quickly and if it is going up that means you should not be buying. If you think the right moment to buy something is when it is going up, you should not be in the trading world neither.

The right moment to buy something is when the price bottoms out, now you may not know when is the bottom so you may purchase at a wrong price but that is fine, however when it is going "up" that means it is not at the bottom is it? It means it is literally the opposite. So, that is why if you want to stay away from FOMO all you have to do is stay as further away from increasing coins as you can and take a look at bottomed out small losing ones.

Come to think even on bitcoin itself, lots of people do get caught on the FOMO thing.Its still hard to spot it out even if we do rely into the most trusted nor supported coin here on crypto.
Always put up in mind that sudden big rise up in price would really give that doubt in mind that you should really taking off or selling for profits rather than considering on buying
just because you dont like to miss it out.In most cases then people who do have this kind of buying behavior will surely end up on getting stucked on holding when the price
had crashed down to the opposite path.

BitcoinTurk

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As the crypto money markets are more active and volatile than other markets, I can say that the investors here have made more panic decisions. Especially in case of a possible positive environment, many small investors are acting with the fear of missing the opportunity and as a result of this situation has been damaged. It should not be forgotten that there are always opportunities in the crypto money markets and it is not possible to catch all these opportunities. For this reason, instead of pursuing the immediately occurring opportunities, we should be careful to act with the right moves by identifying the right opportunities instead of losing to FOMO. I repeat, the opportunities never end in the crypto money markets, so do not be a victim of FOMO while trying to evaluate every opportunity you see.

el kaka22

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As long as you do your research on any project you want to invest into (or a big coin) you can't fall for FOMO. FOMO is when price goes up too much too quickly and if it is going up that means you should not be buying. If you think the right moment to buy something is when it is going up, you should not be in the trading world neither.

The right moment to buy something is when the price bottoms out, now you may not know when is the bottom so you may purchase at a wrong price but that is fine, however when it is going "up" that means it is not at the bottom is it? It means it is literally the opposite. So, that is why if you want to stay away from FOMO all you have to do is stay as further away from increasing coins as you can and take a look at bottomed out small losing ones.

rexxarofmoknathal

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If one is particularly susceptible to FOMO then let me tell you that having this ideology is bad. The reason I think this is that not only you'll be bad for trading but liable to anything else based on erratic changes. Its a difficult one to come out off but it is possible, and the way you can do that especially in trading is to train yourself, and only chose projects/platforms or whatever you're involved in where you are 100% certain that that is the right approach for you. In this way you can at least think that you did the best you could at the time and not have your brain overanalyse things for you -> FOMO.

iv4n

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Quote from: durilup on June 18, 2020, 09:52:48 AM

I my opinion 'fear of missing out' starts when more and more influencers talk about cryptocurrencies on online streaming platforms such youtube,twitch etc.

There's the problem, many people talk about crypto, but crypto is not one coin! There're many coins, tokens, platforms, you name it... and after some time you find that it's perfectly natural to miss some good coins, some tops where you could sell and make huge profit and buy back again when the price drops.
Crypto is so big that even if you want you can't be involved in every project, you can't have all the coins. Simply it's too much, too many wallets to organize, to many things to follow, the price volatility. When many people speak about some project it's good, that can be a good motivation for you to check that project and if you find it attractive for investment just do it and hope for the best, but never believe blindly in anything, is it a group or a single person, do your own research and make your own decision.

durilup

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I my opinion 'fear of missing out' starts when more and more influencers talk about cryptocurrencies on online streaming platforms such youtube,twitch etc.

Dhoe

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FOMO often happens for those who do not do their own research or analysis on coins to be traded. But for those who always do analysis first, we can prevent FOMO by not being careless or in a hurry. In trading, you need to be relaxed and calm, don't panic.

Kelvinid

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FOMO can be triggered anytime, things can't be explained. Should we need to stop FOMO and not get into it? I hope everyone could master this thing and outplay the said FOMO.

https://www.psychologytoday.com/us/blog/stronger-the-broken-places/201501/10-ways-overcome-fear-missing-out

People who usually ride on the market during the bullish will something got into FOMO and sell their coin immediately. That's usually it happens to an emotional trader and likely to keep thinking about worries ( what if?).

cheezcarls

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When I was a newbie back then, I’m actually sold to Bitcoin FOMOs (especially ICOs). It’s why I have diversified to buy BTC and some other coins in various ICOs in order not to miss the FOMO moment.

Now that I have learned the hard way, I would rather change my mindset to a long-term holder. Like I do not care if the price plummets anytime, because I always know that the price would go back up again. If I want to buy more, I always hope for the price to take a nosedive and reach support level based on instincts and analysis from the other traders.

The market is so unpredictable right now, and I don’t do FOMO anymore. If I want to invest and trade in a certain project, there are many factors that I need to learn and analyze, and to make sure that I’ll be having a long-term mindset of the coin or token.

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