Topic: FOMO of bull market (Read 735 times)

There is nothing better than having a plain mind of neutrality with the market while trading, anything other than that will only push the trader into doing what he is supposed not to do, and the end result will be losses. Trading is more of a psychological business that needs more of expertise and plans rather than any expectations. Traders should be neutral and make sure that they have their working system that will do the work, and when the system is productive enough, there is no way the trader will not be making money and be fine. But for those who use the expectations to affect their trading psychology, there is no way emotion will not set in, and with the expectations to be precise, it often causes greed at first. Again, when the greedy trader is rather losing, that will graduate to revenge trading which will now ruin the account of the trader. Recovering from this takes time which is why it is good to avert it from the onset. Above all, we need to manage our trades, our accounts and ourselves, all these three make a good trader once the trader already has all that it takes. This is why FOMO, FUD or any iota of anxiety should be avoided, but the trader must only embrace professionalism and discipline.

Unrealistic expectations are often more damaging to a trader than a poor strategy, and that is because often enough a poor strategy can be improved upon with the right amount of effort.

However unrealistic expectations are very hard to change even if you were to show those traders that there is no way to achieve their goals, and often enough the only way those traders are willing to change those expectations is when reality has hit them so hard they have no option but to admit they were wrong all along.

WLD have been doing well, I don't have the coin but I receive notifications from some exchange that I have their apps of the coins increasing. Just like wld, other coins will rise as the fomo of the bull market comes but we have to try to avoid scam coin as they'll become many in the market. I have some coins that I have been monitoring and those are the ones I'll be investing into while I trade the rest as they begin to attract interest from investors due to the bull market.

I don't trade with leverage of 10x, that's too risky for me and I might lose everything in my account if I try it. I trade on the spot market were I can buy a coin and if I didn't see a good price to sell and be in profits, I can hold the coin until the market is bullish again then I sell and make profits. Newbies shouldn't be using too high leverage when trading, we shouldn't be greedy and want to make all the profit.

We are still bullish and the recent correction is just part of the trend and this is not just about FOMO anymore as Bitcoin is able to sustain its momentum and I’m sure it will continue pump until the end of the next and up to the next halving. There’s a lot of altcoins today who are already close to reach their new ATH, its early to say but it can happen any time, better to grab the opportunity now while the market is still not expensive, we might see the bullish trend of all time with Bitcoin and good altcoins.

Most of the time we get some temptation, and we then fail. Most of the time we move away from the usual things we do had also create additional experiences that will teach us, and this is what happened to OP and those who tried 10x leverage. Sometimes we think that trading needs some luck, like gambling. That is why most traders choose to stay 2-4x leverage because even earning just a small amount but at least the risk is manageable enough. But most of us wanted instant, aiming more which usually ends in losing more.

If it is a trading system with leverage, future markets, it is definitely higher risk, always high risk. And if you do that without careful analysis and consideration, it is really gambling. Trading with leverage is something that is not easy to do, except for certain professionals who already have several ways to anticipate various unexpected conditions related to market. So whatever the market condition, whether short or long, they can get more profits compared to losses. However, if it is only associated with FOMO because of the issue of a bullish era, without having sufficient knowledge, the risk will be much greater. And we really have to be alert to various things that can cause us to lose.

Prices are still distant from their past all time highs and this is the reason many individuals are convinced that the market remains a good buy.

But futures trading is extremely dangerous and requires accuracy in dissecting the market. FOMO cannot be applied to futures trading. This is different from the traditional manner of investing and trading where we can plan to do it long term and with longer time frames. To be safe in futures trading, put a limit and use a small sum of money. Using 2-4x leverage is tolerable but a 10x trade possessed risk of liquidation.

Not until we are ready to take the risk in making an investment on digital currencies, then we may not be a partaker of the positive vibes of what is going on in the crypto sphere, not every of us are ready to take the risk other's took in making an investment on digital assets, but yet we still expect to have thesame kind of benefits or result with the same kind of risk taking individuals, the more we want to have something big the more we must be willing to embrace for its bigger challenge.

I've already made my comment earlier, still according to the market sentiments and the latest momentum I would say the peak of FOMO is already broken market gave a decent buying opportunity last week, but in the current scenario the funding rates are still not so good and the market is getting overheated I'm damm sure that market will re-liquidate positions.

TBH currently there are no signs of the bearish movement.

That's true, I might be wrong. But name an altcoin that would exist for as long as Bitcoin exists, and I'm very confident that that altcoin would have a high probability of not existing as long as Bitcoin. But there might be two or three blockchains co-exisiting with Bitcoin in 10 years, maybe longer than that.

Everything we're currently experiencing is part of one giant cycle that will not keep surging forever.

I believe everyone should read this book to understand my viewpoint, https://www.goodreads.com/en/book/show/91360



There's a free audio-book in YouTube.

Each chapter tells a different story of the same phenomenon and it's also happening in the cryptocurrency "industry".

This thinking make other people go with those crypto's they think have potential to pump huge that's why sometimes they caught up and get FOMO when certain good pumps happen then also to many people hype the said project. If we are not careful we can lose our funds so to avoid commiting such huge mistake. For now I'm into top coins but still looking forward to invest on other altcoins which I think have good potential to get a good pump, for now just monitoring the noise created by people and some actions made by project owner since I want to be wise since can't afford to commit mistakes especially I don't want to a possible huge lose due to miscalculation of everything in alts investment.

We both miss coins that once made us experience multiple profits, but I'm sure as long as crypto can still be traded, it's not too late to try again, even though it definitely happens on a different coin, at least we still have the opportunity to gain multiple profits in the future. I am enlightened on several coins, for now more on WLD and OGN coins. two of my favorite coins that are suitable for saving for the future.

Well, I was saying, holding can be better for alts too, rather than actively trading them.

I'm sure Bitcoin will last long, I don't doubt it.


Plenty alts keep popping up even now, in future it's only going to increase. Alt number will likely be in hundred thousands in 10 years. But, prominent alts might be few like Ethereum is now,  others will keep changing positions in tracking sites and eventually disappear.

This is the reason I already quit trading.
At the start, you will get some profit using x2-x5 leverage, but it will be small, and you feel that you need more. Greed got me at that time, and my next trades are already at x10 or even x20 leverage. The ending is I lost all of my profits that I got from I think 2 weeks just because of a single entry.

I guess if you are investing for the upcoming bull market, leveraging isn't the way, but just hold it. I mean why leverage it still? For the sake of profit? We expect that the bull run will happen in a few months to maybe a year from now, so why not just hold it instead?

If you can't control yourself, don't trade. Simple as that or else, you will lose your money. I can't control myself whenever I'm trading that's why I stopped it already.

I still think that you are wrong on the number of altcoins. The reality is that, with what you said, you are right about the fact that bitcoin was made for lasting and that means it will outlast every other blockchain and of course that means every other altcoin as well.

But, there are two reasons why alts will survive as well, in 10 years there will be some alts who have changed their blockchain and they will last because of that as well and also there will be new ones as well which will be created around that time.

So thousands of alts will always be there, not because they have lasted for a decade, but because there will be new thousands of coins every single year as well, specially on bull years they get a lot more. This is why bitcoin will always stay at the number one position, and all other coins could always switch their position, but we need to accept the fact that altcoin world is not going anywhere, they will continue to exist in some form.

I believe your reason why might be different from my reason. Because of the design decisions made by the Core Developers, there's a higher probability that the Bitcoin blockchain will exist and continue chugging along longer than all of other blockchains. It's not designed to be fast, it's designed to be robust.

In 10 years, there might only be Bitcoin and maybe two or three altcoins in existence.

You have good points there, we should be very careful in our crypto investment and no one can actually make 100% certainty on what any market would do. Just like we see it recently, there are altcoins that moved over x10, this is why I like to maintain a higher stake in them no matter what. And when the opportunity of striking them at a very low price is there, you are so lucky, and no matter what the manipulations could be, you will never get affected since you struck at a cautious level. Take for instance, you bought a token and have already earned x10 due to the altcoin bull run, no matter how the manipulation could be, you can't still be careless to the extent that you will go home with lesser than x5 profits irrespective of how fast the dump is.

However, it is good to diversify your portfolio in this regard, and if you have about 10 different altcoins, most of them will not behave haphazardly as you described, they will still retain their profits as long as possible, just as we see in the recent bull run. There are many altcoins that didn't relent at all but continue to hit a higher year's ATH. I expect the same to happen in 2024-2025, and, as you can see, the time to invest is so much, so will be the time to prepare for a liquidated position as no one should be fearful in their investment plans but professional. The right choice of the asset matters as well, and the trader must be ready to guide their views and decisions rightly with good speculation and not fear the dump that often causes mistakes in investors' decisions.

When altcoin season comes, many shit coins will be used for pump and dump games. If you join early before their pump games, and you can hold those shit coins, you get profit. If you ignored them months ago and now only consider to join because they rose a lot and stimulate your greediness, you might end with big loss.

After pumps, there will be dumps because they are two parts of pump and dump games.

They fell in last three years since 2021 to 2023 and when they started their rallies, you should never touch those shit coins and short them. Your margin position will be very easily liquidated if you open a position that is opposite with the market trend, that is upwards now. Don't short because you can not know how high they will rise to before stop and start corrections.

If you miss their pumps, stay patient, observe it and the market, don't short.

Let me guess, the coins that do that must be a shitcoin, they are the forgotten coins that could just resurrect from now where through some artificial pumping when other major coins/tokens have had their initial rise due to the pump. It's often interesting to see some of them pumped x2, x4, x5 and so on in this regard. I saw many of them that were sluggish in movement when the bull run happened in the past 4 months. But suddenly in December, they started moving dangerously upwards. It could only mean that people abandoned them and focused on the major initially and when they were done with the major, they started looking elsewhere to pump until they got to their turn. They often pump the low-value coins/tokens at that time and that explains why some of them could suddenly move over x10 in just a few days.

Anyway, we should be prepared for the worst as an investor, the market may go as planned, or it may not go as planned. But one that is certain is that we should only invest in a bullish market, and as long as the market remains bullish, no one should stop investing even if they believe they are entrapped by the spirit of FOMO. FOMO most times helps investors, especially on the asset they have reliability upon just like Bitcoin. Another time to invest is when the market is at its bottom level.

yea, but you don't often know when it's peaking, or if it'll keep peaking. I have bought coins in past that went to increase further from my bought price even tho market was already increased to an extent then.