Topic: FOMO is not good at all times! - page 2. (Read 872 times)
Lol, which means it can e beneficial at some instincts, I clearly then can say that it has its good days and let's just know that nothing good stays forever, there are always downside of every good thing and vice versa
The truth is fomo to me is not really a good thing, last year December I fomoed on a project because they are about to move from ETH chain to their own mainnet, I didn't know about it on time so I bought like 2 hours to mainnet launch, it's dipped from 0.9 USD to 0.4 within 5 minutes after mainnet launch, presently the price is 0.05 USD and I automatically turned to a bag holder of the project. So fomo is not really good
Simply make sure to purchase when it was plunging and not siphoning. That's not about fomo but rather you are setting aside the off-base effort to get, you are really purchasing when the cost is getting siphoned and after that you are getting dumped after the whales have made a bulltrap.
Im doing day trading in a big and very popular exchange. when im starting to trade in the particular token. the green candles is going crazy filling up and because i was not ready at that time i feel the FOMO thats why i buy too until my internet connection has a problem thats why its lagging. for a minute when i refresh it. the price was dump already and followed by red candlestick i was left a bag holder. since i have no choice i have to sell it at losing price. ive learned that FOMO was not good at all times. What are causes of this??
Unfortunately that was only a temporary pump and dump scheme in exchange.
You need to stay calm if you see a coin/token pumping. If it was a real price, then it would stay long in green.
Same with panic selling, some peoples trying to make the price dump so they can buy with lower price.
FOMO is never friend to any trader, I see FOMO as in fact the greatest enemy of progress to most investors and traders, that red candle sometimes is even friendlier than the green one, because without the red candle, you cannot make much profit. I stop trading temporarily on a daily basis too when I started seeing that FOMO is more common with people that trade on a daily basis than people that trade on weekly, monthly or a long-term investment.
I think because there is really not much time to study the candles, which is why most day traders end up being a victim of FOMO. Secondly, when trading, one has to be extremely patient, and not have it in mind that you want to make the money you will make in a year in a day, greed sometimes leads to FOMO which eventually makes one loose his or her trade finally.
I think because there is really not much time to study the candles, which is why most day traders end up being a victim of FOMO. Secondly, when trading, one has to be extremely patient, and not have it in mind that you want to make the money you will make in a year in a day, greed sometimes leads to FOMO which eventually makes one loose his or her trade finally.
So you are considering price difference in minutes? It's not wise. You should consider at least a week's price to make a clear chart of candlesticks or trendline fills. Usually, I use 2 methods, 1. 24 hours forecast and 7 days forecast. Most time I see good result in the 24-hour chart. So, FOMO is good for most of the time.
theres nothing wrong with that if he check the price every minute . he is just active like me i also check and compare the price difference . if ever i find a good oppurtunity i will decide if i sell or buy . 24hrs forecast is also better if you find your self a little busy . 7 days forecast can be good for those who are verry busy people . fomo is good for us but we should choose the right kind of coin so that we can get a benefit and not lossing .
So you are considering price difference in minutes? It's not wise. You should consider at least a week's price to make a clear chart of candlesticks or trendline fills. Usually, I use 2 methods, 1. 24 hours forecast and 7 days forecast. Most time I see good result in the 24-hour chart. So, FOMO is good for most of the time.
Im doing day trading in a big and very popular exchange. when im starting to trade in the particular token. the green candles is going crazy filling up and because i was not ready at that time i feel the FOMO thats why i buy too until my internet connection has a problem thats why its lagging. for a minute when i refresh it. the price was dump already and followed by red candlestick i was left a bag holder. since i have no choice i have to sell it at losing price. ive learned that FOMO was not good at all times. What are causes of this??
FOMO follow your trading very easily cause big losses, try to think if you trade 10 orders, take profit 9 orders but loss only one order. The order you loss maybe high than profit you take on 9 order before
Yes FOMO is never good, equally neither is panic-selling. If you are trading it is always sensible to plane your entry and exit points before starting. And it is also important to understand why a coin is rising or falling in price. That way we can improve our decision-making.
It is a disease that you must treat when you see rising prices, feeling like wanting to take part in getting a big profit. that is why you feel Fomo, I learned to avoid the fomo disease by leaving the trade when the price rose higher.
Im doing day trading in a big and very popular exchange. when im starting to trade in the particular token. the green candles is going crazy filling up and because i was not ready at that time i feel the FOMO thats why i buy too until my internet connection has a problem thats why its lagging. for a minute when i refresh it. the price was dump already and followed by red candlestick i was left a bag holder. since i have no choice i have to sell it at losing price. ive learned that FOMO was not good at all times. What are causes of this??
Day trading is not a good way to earn money. The risk is too big but usually expert traders choose day trading strategy because of flexibility. But the bad side of daytrading is more than it's good side. Not only FOMO but also addiction because of curiosity and dissatisfaction will make your physical and psycological condition is weakened. I suggest you to do trading normaly so you can avoid FOMO.
Buying a coin or Investing in public or private sale because of the FOMO (Fear of missing out) has led a lot of persons to bankruptcy or debt, It is advisable to miss out than to lose your money.
Well, FOMO is your greed. Don't be greedy, because crypto will suggest you a lot of opportunities and once you will achieve it.
Don't be FOMO guy, better find new opportunities and finally you will suceed. You have to develop your own vision and that's the case.
Don't be FOMO guy, better find new opportunities and finally you will suceed. You have to develop your own vision and that's the case.
Fomo has never been good for once because it has cost many traders etc their funds, thereby either turning them to bad holders or making them sell at loss. It's better to exit with a little profit than seeing a moving coin and decide to risk it. Another thing is, let's learn to keep our emotion in check, as it is one of the factors which leads to fomo.
There is an exception, one can still decide to jump in to a moving train if technical and fundamental analysis points towards that. FOMO isn't really bad at all times, rather buying at the top is.
You got it wrong, I think the topic should be "FOMO is bad at all times because to be honest, I have never seen a situation where FOMO is good, FOMO is all about greed and this does not give you the time to do a thorough research about a project before you purchase and most times, you end up purchasing when it is very expensive.
That's why it is safer not to become trader during fomo , when you see market is heavily manipulated it better to stay away from it or invest in btc and after profit hit , cash out. Its is obvious that you can't win against whale.
FOMO is not limited to newbies alone, it does happen to all while few persons have only learn to tame their emotion. For example, if bitcoin moons to $17k at the wake of tomorrow, most traders will quickly buy thinking we are headed $25k, most times, FOMO is motivated by greed.
I think this is a problem that anyone will face when engaging in a transaction, and it's hard to overcome it. Its cause is probably in our greed and impatience
If we already know the altcoin character you are trading, based on good news or FUD that occurs on the altcoin that you are trading then I believe you will avoid FOMO
There are no causes that need to be mentioned here. FOMO is always bad, no other reasons at all except that it is bad. FOMO is not something that is born out of reason or analysis. FOMO is simply done out of mere Fear Of Missing Out, from the name itself. FOMO is done just when the pump is already happening. It could possibly happen that it is done just when the tip has already reached. It is very risky.
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