If you were too excited, because, when you watched a forecast and your eyes caught a potential big buck of certain cryptos, and it was continued up trending on the chart, that was the time you just buy without thinking properly.
Yap, FOMO is not good, when you do trading, that was the initial knowledge you have to learn, controlling emotion are required and no excuses.
Topic: FOMO is not good at all times! - page 3. (Read 828 times)
What are causes of this??
News are the main reason why a certain coin is increasing its price. There is a famous quote "Buy the Rumors, Sell the News". When investors heard a rumor on a famous coin, they will immediately buy it and days or hours before or after after the news will happen they will immediately sell it. Your title is wrong. It should be "FOMO is not good always". 
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??
They are connivance on this maybe you are not part of a group where they are going to pump certain coins to make their group profitable when they hit a dump on that coin, short term trading has a lot of risks attached to it, and you should not rely on FOMO to buy coins.
Mostly FOMO is coming from pump and dump groups wherein they were able to buy at the bottom and sold at peak then they will announce so that they can sell more and people will get rekt. Been there done that and it was really bad. So what I am doing now is to be a keen observer of market so I would know which is which
In crypto, to make big profits, one must have adequate knowledge thus perform series of researches in order to get adequate information to make proper and effective market analysis. Following FOMO all the time ceases an investor's ability to make informed and effective choices and can lead to poor purchases.
Patience is very paramount when it comes to crypto investment.
Patience is very paramount when it comes to crypto investment.
Just enter on the right times, buy at the right price , even FOMO is good when you can use it. But remember don't be greedy. small profit isn't bad at all. When you can handle that things surely you will win.
Fomo has been the doom of many users in this space, both traders and investors. It is not a good experience for anyone as the end result isn't always friendly. As regards to traders, they are always facing this, because they trade often and on. But I think once you misses a trade entry point and fomo starts coming up, that's the best time to quit for the day.
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 is actually bad. Good traders or investors don't do that because they know how to control their emotions. When I started out newly as a trader, I chased green candles in ripples, Xrp thinking it will head to 10usd but I ended up buying the top at 3$
If you FOMO then be ready for the consequences because we all know that you are trading or investing in a dangerous ground, so obviously there is a risk factor and not good unless you know what you are doing. But the thing with FOMO is that it could teach you a valuable lessons, I know it's expensive but I'm sure majority of traders or investors here have one time FOMO on their crypto journey.
What causes?
You are human. You will that envy to ride the rollercoaster going up.
But the problem is you have a bad sight and didn't see that it was already going down.
It is normal and it is a lesson that you should learn.
I did learn from experience too when I became an idiot just riding the FOMO.
You are right though, it is always not good.
You are human. You will that envy to ride the rollercoaster going up.
But the problem is you have a bad sight and didn't see that it was already going down.
It is normal and it is a lesson that you should learn.
I did learn from experience too when I became an idiot just riding the FOMO.
You are right though, it is always not good.
Trading is a tiring emotional battle. there are many situations that will cause uncontrollable emotions, such as panic and Fomo.
the key remains focused and calm, don't let emotions influence your trading target.
the key remains focused and calm, don't let emotions influence your trading target.
Following FOMO only will lead you for very risky trading or investment.
Fomo may be only good at that time, however, not ever good for your own trading. Be more careful and wiser when going to pick the right coins for trading. IT is important enough because trading is not only for popular coins moreover because of fomo only. It needs a deeper analysis on the daily chart of the market progress and the trading volume.
Fomo may be only good at that time, however, not ever good for your own trading. Be more careful and wiser when going to pick the right coins for trading. IT is important enough because trading is not only for popular coins moreover because of fomo only. It needs a deeper analysis on the daily chart of the market progress and the trading volume.
Of course FOMO is not good, it's better to buy low and sell high, fomo buying usually lead to loss because the sellers are those who are taking profit from the low entry they had.
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??
That's a big mistake you'll do, you been caught into FOMO and you been out of your strategies. Supposedly you hold but it is done already and no other way to bring it back unless you do trades again. But you'll keep it doing again, I suggest to stop and trading isn't the right place for you. 
I think fomo nothing but a trap which has held many traders captive of a coin they never wish to hold. When we throw caution to the wind and do what we feel is right so as not to miss out; the chances of getting trapped due to fomo is always high. In my own opinion, it is better to exit the market once that feeling sets in and wait for another time as it will save us a lot.
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 is actually bad. Good traders or investors don't do that because they know how to control their emotions. When I started out newly as a trader, I chased green candles in ripples, Xrp thinking it will head to 10usd but I ended up buying the top at 3$
fomo will be good for a long-term investor (holder). But for traders, with some currencies, is a worry. It is possible that the highest price today will be the highest price in a long time. Meanwhile traders use trading orders every day
for long term investors fomo will bring something good as the value of their invested money will continue to grow but for those who's trying to wirk with short term trades fomo's is too dangerous as you can be trapped when the market begins to fall and no support will hold to your opening position, you have to be ore skillful before trying to work with this kind of trading practice.
Most times, when fomo is high and driving virtually everyone around us, that's the time to play safe and be patient. That we missed an entry point doesn't mean we won't see another if not in that coin, then in another. The ability to resist fomo is one of the characteristics of a good trader.
Just do not listen to anybody and if you are investing in a new coin, be so nice and make your own research of a coin, rather than to jump on another pump and get useless tokens to hold. Be smart and check everything before invest in any project.
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??
A lot of traders, most especially those who work in group go about shilling making FOMO about what they want to sell. Even team members of the coin in question also do that. It is left for someone who intends to invest in it, to know when to come in. Jump to: