The best case is to see the price jump way too much than it should. There is really no easier method then checking the price of any coin. If you see something going up over 10% and you want to buy, that is FOMOing and you should not do it, same with going down as well, do not worry when it goes down, just buy it discounted.
People do get into bitcoin and other crypto when the price suddenly starts going up, but the reality is you should have bought before it went up. Many people keep saying "how could I know when it will go up before it does" like it is impossible to guess, but look at the price on any other day, you will see that price is not going up every single day, it is usually either going down or staying around the same prices. Buy when it is like that and only sell when it goes up.
Topic: FOMO In Crypto; How to identify It - page 6. (Read 891 times)
Those are some good points about FOMO and how to identify it. But FOMO generally comes with a sudden change in the market.
Hence it would always be something that you can't control.
In my perspective, FOMO is bad for everybody since we can be really be stressed because of it.
We would always think about the investment and price and that will distract us in our life.
A successful trader must have the ability to be patient and should not worry if there is any FOMO.
Opportunities keeps coming and we should believe that if we didn't make it in the current market then may be we will do it the next one.
Hence it would always be something that you can't control.
In my perspective, FOMO is bad for everybody since we can be really be stressed because of it.
We would always think about the investment and price and that will distract us in our life.
A successful trader must have the ability to be patient and should not worry if there is any FOMO.
Opportunities keeps coming and we should believe that if we didn't make it in the current market then may be we will do it the next one.
FOMO is very bad if you enter late or near the peak of the price but there is another side of the story if you have fomoed in right at the start or as soon as the price breaks out and you have accessed the situation correctly and price is growing with good momentum then you have a huge chance of making big returns. So it is about calculated risk and it is not always bad but yes most of the time people do get trapped.
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.
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.
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.
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