Topic: FOMO In Crypto; How to identify It - page 5. (Read 931 times)
Sometimes FOMO have advantages as well because in crypto market if the orices stsrts to rise then it will rise uoto certain range which coild be lor far from the previous range so if you can find FOMO too early then you will be able to make good profits.Or simply buy FUD sell FOMO.
FOMO implies Fear of Missing Out. This is a serious issue when it comes to crypto trading and it has at least happened to you in crypto before because we all dont want to miss out and start regretting later. The crypto market remains young and unstable hence the price of most coins largely depends on how many people believe in their potential
How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.
As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.
Here i Will present you the approach of technical analysis to identify FOMO or unreasonable growth. How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.
As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.
In the natural bull market, the price makes a new high with bigger momentum.
See how recently we have made a new high but on lower momentum, and rejection occurred.
There is also other methods, just do not buy when everyone is buying.
for me to identify the market being FOMO is very easy, make sure the volume is high, there is an event for the short term,
and all channels on telegram or twitter talk about it, like what Theta did yesterday
and all channels on telegram or twitter talk about it, like what Theta did yesterday
How will you identify if there is a FOMO event in market:
Simply, the movement of the coin you are following is unusual. If there is a large volume of buyers and the price is pushing upward. Probably, there is FOMO event. Maybe, a person or group is trying to pump out the coin by sharing/promoting the coin with their followers.
Now, if you were too late to catch the scene. Forget about that coin and search for new one. I don't believe that you can still make profits when it reached the top. One of the best example of FOMO was bitcoin ATH. If you were the person to buy the highest price and won't sell it, you lose a lot. And until now, your capital is burning.
Simply, the movement of the coin you are following is unusual. If there is a large volume of buyers and the price is pushing upward. Probably, there is FOMO event. Maybe, a person or group is trying to pump out the coin by sharing/promoting the coin with their followers.
Now, if you were too late to catch the scene. Forget about that coin and search for new one. I don't believe that you can still make profits when it reached the top. One of the best example of FOMO was bitcoin ATH. If you were the person to buy the highest price and won't sell it, you lose a lot. And until now, your capital is burning.
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.
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.
Yes, there are also a good side of FOMO, but you have to be very quick to recognise that this is just a FOMO and nothing else.
Its easy, FOMO is here every time when big newspapers that normally do not write about Bitcoin, just write about huge Bitcoin´s growth. Then many people see easy money and they start looking for buying some cryptocurrencies. And this is the worst time for invest in most cases. Because you should do the opposite than what most do.
Wrong analogy, bitcoin's growth has nothing to do with the FOMO in my opinion. Well if you choose Altcoin market, yes there's a lot of them just being promoted with no use case and for simply profit taking. But as far as big newspapers, FOMO should be coming from crypto related sites, or at least a websites that reported everything about crypto so that it will not be an obvious shill or FOMO. And those people who sse that there's easy money here is usually the first who got REKT.
The first sign of FOMO is that you will noticed that a certain coin is being promoted by so called crypto influencers. It could be in facebook, twitter or any other social media platforms and it will cause this so called FOMO. What happens next, is anyone's guess, you can join the FOMO early and then exit when you have profited already. Or worst, you believed in this project and really think that it is the new big thing, unfortunately, it's too late when the dump comes along.
When several users get to shill for a project sometimes it triggers FOMO to it and when the price slowly goes up, users are just looking for reasons why that they check the twitter posts of the project for there could be something.
Maybe driven by greed, some will just buy when they see its price climbing up. If you are going to be doing this, you should also be dumping when you see prices begin declining too and look for a pump and dump groups.
Not only in crypto, fomo psychology takes place in all areas of the world. And this is the kind of psychology of the crowd, people often get lost in the direction and don't know what to do if they have this psychological symptom. The crowd is not wrong, it's just that we lost our way in speculation without any analysis. Sometimes we also need Fomo to create a new wave but I recommend everyone to learn before engaging in speculation. Analysis and planning will be two very important things to help you not be trapped by the whales.
Yes that's one of the signs that you have a fomo mentality. This is one of those psychological types that shouldn't be because it's very dangerous. This effect is only available in the crowd and inexperienced people in financial markets. And for experienced people like us, we must know how to analyze carefully before following the crowd. This Fomo effect has made a lot of people lose a lot of money, for example that's the price push of Matic of a manipulating team. when the price was x8 compared to the old bottom, the team sold out in just 2 hours and made a lot of people lose money because they trusted Matic.
Everyone is fomoing, even the experienced traders. Because, some traders and investors could actually gain profit from it.
How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis.
When you see a lot of people buying, I don't think you need to make further analysis regarding what's the fuss behind the massive buy out. Again, you will FOMO.
That's it. Buy early to make good profit.
However, there's always a corresponding risk when you engage in FOMO.
How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis.
2. When you start saying to yourself you should have gussed the price would go up
The reason why you don't need to waste your time to analyze the situation, because If you do you'll probably buy at the peak.3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.
4. It would be silly not to try. Let’s see how much money I could make.
That's it. Buy early to make good profit.
However, there's always a corresponding risk when you engage in FOMO.
Yes.There are lot of coins that they pump and dump so while pumping a lot of people will FOMO and later it will dump. But what of coins that actually are moving up without pumping without dumping an example is Unibright. It was quiet for about a year and in the space of one month it has gone to the sky assuming you fomo for such coin maybe when it was around 0.1 you would still profit.
That is why a good research about a project is needed of the capability of the project. You just have to know that you cant know about all the good projects in the crypto space you will just identify one or two then you are good to go
Yes.There are lot of coins that they pump and dump so while pumping a lot of people will FOMO and later it will dump. But what of coins that actually are moving up without pumping without dumping an example is Unibright. It was quiet for about a year and in the space of one month it has gone to the sky assuming you fomo for such coin maybe when it was around 0.1 you would still profit.
FOMO implies Fear of Missing Out. This is a serious issue when it comes to crypto trading and it has at least happened to you in crypto before because we all dont want to miss out and start regretting later. The crypto market remains young and unstable hence the price of most coins largely depends on how many people believe in their potential
How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.
As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.
How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.
As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.
I agree with this. But I believe there is no trader that doesn't undergo FOMO.
We just have to be mindful of our emotions and learn to control them.
This is why i want to leave out my emotions. i am not jumping into a trade without my good analysis done. I will do my due dilligence before i enter a trade
As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.
You have mentioned all of those points above but actually finding it initially or earlier phase is hard because you wouldnt know if that one is
just a fake out or just literally a bull run and of course, as an investor you would surely think that if you do miss out the train, you cant have the
same opportunity once again.
That is why you dont want to put in your emotions while trading because you will really make a wrong decison and jump in on a moving train which is not the best thing to do at all
FOMO implies Fear of Missing Out. This is a serious issue when it comes to crypto trading and it has at least happened to you in crypto before because we all dont want to miss out and start regretting later. The crypto market remains young and unstable hence the price of most coins largely depends on how many people believe in their potential
How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.
As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.
How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.
As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.
I agree with this. But I believe there is no trader that doesn't undergo FOMO.
We just have to be mindful of our emotions and learn to control them.
Its easy, FOMO is here every time when big newspapers that normally do not write about Bitcoin, just write about huge Bitcoin´s growth. Then many people see easy money and they start looking for buying some cryptocurrencies. And this is the worst time for invest in most cases. Because you should do the opposite than what most do.
If there’s a hype news it creates FOMO and I have to admit that i’m also experiencing it but since I know what to do, I didn’t fall on that trap. Also, if you joined a telegram group of a new project you’ll see a big FOMO there especially if the project is about to list on a new exchange. If the price is too much to buy, better to wait for the price to go down after the hype, you’ll see its real value for sure. FOMO is not profitable at all, don’t let your emotion takes over you. 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.
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.
You said it all high risk high reward. I wont want to take that type of risk because jumping in a moving train is not worth it you can lose all the amount invested if you enter at a very wrong time. Its not applicable to only crypto trading even forex trading
Its easy, FOMO is here every time when big newspapers that normally do not write about Bitcoin, just write about huge Bitcoin´s growth. Then many people see easy money and they start looking for buying some cryptocurrencies. And this is the worst time for invest in most cases. Because you should do the opposite than what most do.
Sure FOMO comes when traders observe huge buy or sell activity in an exchange, that triggers sentiment. But I'm not against people having excess money and try to invest it. If such huge investment is seen people get scared.
However, doing proper research on the reason people take a huge order, it will help you to know which direction the FOMO direction is so you can wait for drop to buy low.
Its easy, FOMO is here every time when big newspapers that normally do not write about Bitcoin, just write about huge Bitcoin´s growth. Then many people see easy money and they start looking for buying some cryptocurrencies. And this is the worst time for invest in most cases. Because you should do the opposite than what most do.
LOL! They cant just publish out news if it wont reflecting the current price movement but you do actually have the point because news sites do commonly wrote up into these times but just some pure presumptions and
most likely you would able to see hyping speculations floating around by those so called experts or popular person in the net which do talk about ridiculous numbers on where it do add up the FOMO thing.
You can identify it if you do have the sufficient experience towards this market.If you do know on how these things works or do exist then you would really be aware on your actions that you should made.
Its easy, FOMO is here every time when big newspapers that normally do not write about Bitcoin, just write about huge Bitcoin´s growth. Then many people see easy money and they start looking for buying some cryptocurrencies. And this is the worst time for invest in most cases. Because you should do the opposite than what most do.
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