OH YEAH FRUSTATED TRADERS. - page 5.

goldade

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Quote from: doctor877 on April 17, 2021, 03:27:05 PM

FOMO is one of the big enemy that needs to be conquered if you want to succeed in trading and investing. alot of people usually neglect investing at the early stage but only wake up to join the train when its halfway or near the destination. the oppression from friends and mates is also one of the things that make people fomo. thats why its always important to keep your emotions under control. dont be oppressed by anyones profit, you will make your own if you do the right thing. i read comments from lots of traders that are lamenting of their loss because of fomoing to buy the top. one important thing to always remember is that there are alot of opportunity, all you have to do is to find them early and buy into them.

This is one golden piece of advice in crypto trading. Many people get carried away by the profits of others who bought quite early into a project and for the FEAR OF MISSING OUT, buy at the top only to discover that such coin has completed its bull run and it's now decreasing in value and they'll eventually lose money. I almost got into one of such coin recently when because of the profit hypes, I almost bought it only for it to plummet down in price. Alas, it's bull run has ended.
The best thing to do is to make research concerning projects before buying into them.

DarkDays

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Quote from: blockman on April 17, 2021, 03:29:34 PM

It doesn't get old that there will someone who would share their losses because they've bought at the top and sold at loss. It's a never ending story because there will always be newbies that cannot take their emotions when they see the coin that they've bought starts to go down.

That's right. There will always be people who want a piece of the cake but come in a little late.

TBF this is what makes a trader a good trader, you have to go through the down before you get to the profit. It is something I find people learn when experienced on their own skin.

frustration, losses and despair are all part of the process to scuccess - and of course learning to HODL/ sell at the right time.

iamsange

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Quote from: doctor877 on April 17, 2021, 03:27:05 PM

FOMO is one of the big enemy that needs to be conquered if you want to succeed in trading and investing. alot of people usually neglect investing at the early stage but only wake up to join the train when its halfway or near the destination. the oppression from friends and mates is also one of the things that make people fomo. thats why its always important to keep your emotions under control. dont be oppressed by anyones profit, you will make your own if you do the right thing. i read comments from lots of traders that are lamenting of their loss because of fomoing to buy the top. one important thing to always remember is that there are alot of opportunity, all you have to do is to find them early and buy into them.

Emotion is the one of some importants key in trading, and i think maybe it is the hardest part. Because analysis maybe people can be good at it with practices. But if keep panic or maybe get Fomo when something happen, although traders who already have very long time in trading activity sometimes get panic or maybe get FOMOed too.

isaac_clarke22

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Quote from: GreatArkansas on April 18, 2021, 04:04:39 AM

For me, newbies are the MOST victim of FOMO, they are very vulnerable to it.
But if they will continue to trade and don't stop, they will slowly learn, and those mistakes at the beginning will be a lesson for them.
I admit, I always get FOMOd before when I started to trade on an exchange, very the worst experience.

Gotta admit that I FOMOd back in the days as well when I was still starting up.
Imagine that you started in Bitcoin when it was about to reach 20k back then.
It is like waking up in the middle of war and you don't have a single freaking idea what to do. Do you sell? What if 20k breach happened?
Do you buy? What if it dipped? Turned out I should've just chose neither.

Furious 7

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Quote from: taufik123 on April 23, 2021, 01:28:21 PM

Finding it early and buying it was something that couldn't be done that easily. It takes research to find out. Because only a few people know. For example, when FOMO DOGE was very appalling. Elon Musk is certainly the key to FOMO DOGE. DOGE could even print its highest price in 2021, but behind all that, many people buy above because they are stuck with FOMO. currently all Altcoins are experiencing a drastic decline due to the BTC dump. those who bought above because FOMO was stuck at a very high price.

For now many are stuck due to the big dump that happened to BTC and following other things with altcoins, by buying above because of their ignorance maybe this is the cause of getting stuck and they will panic seeing this because it might be FOMO too.
You can say that ELON is the cause if we are dependent on it, this is a little difficult when trapped and it must be learned that FOMO can keep us trapped for a long time and like now no one knows when to recover because of a large enough drop but like it. the correction will take a little longer to reach the highs again.

taufik123

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Finding it early and buying it was something that couldn't be done that easily. It takes research to find out. Because only a few people know. For example, when FOMO DOGE was very appalling. Elon Musk is certainly the key to FOMO DOGE. DOGE could even print its highest price in 2021, but behind all that, many people buy above because they are stuck with FOMO. currently all Altcoins are experiencing a drastic decline due to the BTC dump. those who bought above because FOMO was stuck at a very high price.

imstillthebest

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fomo can be your friend if you got lucky or you fomo the right way because you have knowledge on the coin you choose .
they dont invest early because they want to make sure that they dont get scam but between fomo in pump and fomo in dump or early stage ,
many people choose to fomo in early stage investing coins that are in ico because they are jelous with others gains and they think its the only way to earn money fast .

Sterbens

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trading or investing must have its own principles, and conceptual strategies to hold. Regardless of Fomo from external and internal parties, he still adheres to his trading principles. It's not easy to control emotions, when we are active in the world of social media, some issues, news and also information that is consumed raw will have a negative impact. therefore you must have a personal analysis, so that you are not easily scratched by the Fomo that is spread.

ipanks

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Quote from: cabron on April 22, 2021, 08:05:23 PM

Well, I just can resist buying more Dogecoin while the price is $0.40 this is because I'm not sure whether its going to dip again or rise more for its been doing the same thing for more than a week already. Remember that it starts at $0.05 then shoots to $0.42. I felt the FOMO, you can't blame me. But now that its dipping to $0.25 I think I'm also going to sell. Grin

That's how frustrating is it.

It is better to wait for more because Dogecoin has a chance to get down for more, especially if bitcoin is not going up or even the bitcoin price will go down for more. If bitcoin is down again, all altcoins will follow and many of the altcoins will go down and maybe some of them will go back to the lowest price before. We need to have more patience because that is how we can find a way to see our benefits.

RealMalatesta

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Quote from: awik p on April 22, 2021, 09:30:37 PM

psychological weaknesses are exploited by whales for maximum personal gain. therefore I agree, behind the tantalizing Fomo, it becomes a hidden enemy, and we must be mentally prepared to face the possibilities that occur.

Yeah, these are all being covered by emotional management and traders must make use of it when they are under pressure. Whales are always there to manipulate the market directions hence when we are not good in emotional management then we will easily join to losing side. In my opinion we must never give room to FOMO and FUD; we should always stick within our trading plans so that we could make use of our technical analysis which will be the key at the end of the day for profit-making.

When we are not careful frustrations easily happen in crypto trading hence being careful and at the same time trying our level best will lead to assured success.

awik p

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things like this are a common thing in the world of crypto trading. psychological weaknesses are exploited by whales for maximum personal gain. therefore I agree, behind the tantalizing Fomo, it becomes a hidden enemy, and we must be mentally prepared to face the possibilities that occur.

cabron

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Well, I just can resist buying more Dogecoin while the price is $0.40 this is because I'm not sure whether its going to dip again or rise more for its been doing the same thing for more than a week already. Remember that it starts at $0.05 then shoots to $0.42. I felt the FOMO, you can't blame me. But now that its dipping to $0.25 I think I'm also going to sell. Grin

That's how frustrating is it.

Shasha80

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The biggest problem that occurs to traders is how they control their emotions when trading, and also lack the knowledge and experience when
starting trading. These two reasons ultimately made some traders lose due to FOMO, by buying coins at high prices. If people who can control
their emotions will not rush into buying the coins they want, they will wait patiently for the right time to buy. And also people who have experience
and knowledge are unlikely to panic easily and eventually FOMO, because they will do analysis and research first before deciding to buy coins.

LUCKMCFLY

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Quote from: milewilda on April 22, 2021, 06:51:46 PM

Quote from: Furious 7 on April 22, 2021, 01:46:13 PM

Quote from: LUCKMCFLY on April 22, 2021, 01:28:58 PM

I think that trading should not be seen as a competition, it is very difficult to reach the level of a whale, for some traders when they lose they do not say it, because they fear that they may see them as a failure, but the losses are normal, what must be done is Trying that the gains are greater than the losses is not a reason for shame.

95% of traders lose, technical analyzes fall, are invalidated and sometimes do not work, according to Malkiel Burton 85% of technical analysts fail, and fundamental analysts likewise, there must be a balance between both analyzes. I think that the main driver of loss for traders is because they believe that they will become millionaires quickly and that thinking is what leads them to failure, if traders saw trading as a business, just like traditional business traders do, Traditional business profits are seen at 3 years, with hard work, the difference with trading is that the profit can be seen quickly.

In failure is a natural thing because in trading there are always profits and failures so if the trade is associated with competition it is a big mistake we don't have to reach the whale which we need is enough profit every time we trade.

We can combine analysis and some of the techniques that we come across I think we can see the difference where we will reduce the failure at least with technical analysis we can break up what previously could not be solved, whatever in trading we must be able to see what happens and conditions how the market or even can see in some people is important in his words but which class balance is the main thing that we must maintain.

Key here is that you shouldnt rush up on making profits because everything would really comes next if you do able to do the right way.Experience is the best teacher and
those mistakes are learning stones for you to make yourself a better trader.Its just on how you do make out or set goals according to the path or career your are taking.
Frustration and regrets is there and its normal but doesnt mean that these things will completely block you off into your trading career.
Start small and try to make it big but not on a forceful way.

In my little experience I have managed to make a method that is very effective in trading, it consists of:

-Make a maximum of 3 trades.
-If I lose with 1 trade, with the other trade I recover and have a positive balance.
-If I lose both trades, with the third I recover and stay the same or something else.
-If I lose the 3 trades, I simply assume my loss and change my plan, I do not bother to enter but I try to see where I failed, the market is benevolent, it always gives entries with good opportunities.

I never allow myself to lose 10%, if I lose it is the maximum 8%, and if I win I make my trade x3, that is, if my stop percentage is at 8% my take profit must be at 24%.

I always see trading as a business and not as to become a millionaire, although that is what is sought, everything must go at a safe pace.

milewilda

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Quote from: Furious 7 on April 22, 2021, 01:46:13 PM

Quote from: LUCKMCFLY on April 22, 2021, 01:28:58 PM

I think that trading should not be seen as a competition, it is very difficult to reach the level of a whale, for some traders when they lose they do not say it, because they fear that they may see them as a failure, but the losses are normal, what must be done is Trying that the gains are greater than the losses is not a reason for shame.

95% of traders lose, technical analyzes fall, are invalidated and sometimes do not work, according to Malkiel Burton 85% of technical analysts fail, and fundamental analysts likewise, there must be a balance between both analyzes. I think that the main driver of loss for traders is because they believe that they will become millionaires quickly and that thinking is what leads them to failure, if traders saw trading as a business, just like traditional business traders do, Traditional business profits are seen at 3 years, with hard work, the difference with trading is that the profit can be seen quickly.

In failure is a natural thing because in trading there are always profits and failures so if the trade is associated with competition it is a big mistake we don't have to reach the whale which we need is enough profit every time we trade.

We can combine analysis and some of the techniques that we come across I think we can see the difference where we will reduce the failure at least with technical analysis we can break up what previously could not be solved, whatever in trading we must be able to see what happens and conditions how the market or even can see in some people is important in his words but which class balance is the main thing that we must maintain.

Key here is that you shouldnt rush up on making profits because everything would really comes next if you do able to do the right way.Experience is the best teacher and
those mistakes are learning stones for you to make yourself a better trader.Its just on how you do make out or set goals according to the path or career your are taking.
Frustration and regrets is there and its normal but doesnt mean that these things will completely block you off into your trading career.
Start small and try to make it big but not on a forceful way.

Furious 7

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Quote from: LUCKMCFLY on April 22, 2021, 01:28:58 PM

I think that trading should not be seen as a competition, it is very difficult to reach the level of a whale, for some traders when they lose they do not say it, because they fear that they may see them as a failure, but the losses are normal, what must be done is Trying that the gains are greater than the losses is not a reason for shame.

95% of traders lose, technical analyzes fall, are invalidated and sometimes do not work, according to Malkiel Burton 85% of technical analysts fail, and fundamental analysts likewise, there must be a balance between both analyzes. I think that the main driver of loss for traders is because they believe that they will become millionaires quickly and that thinking is what leads them to failure, if traders saw trading as a business, just like traditional business traders do, Traditional business profits are seen at 3 years, with hard work, the difference with trading is that the profit can be seen quickly.

In failure is a natural thing because in trading there are always profits and failures so if the trade is associated with competition it is a big mistake we don't have to reach the whale which we need is enough profit every time we trade.

We can combine analysis and some of the techniques that we come across I think we can see the difference where we will reduce the failure at least with technical analysis we can break up what previously could not be solved, whatever in trading we must be able to see what happens and conditions how the market or even can see in some people is important in his words but which class balance is the main thing that we must maintain.

LUCKMCFLY

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Quote from: doctor877 on April 17, 2021, 03:27:05 PM

FOMO is one of the big enemy that needs to be conquered if you want to succeed in trading and investing. alot of people usually neglect investing at the early stage but only wake up to join the train when its halfway or near the destination. the oppression from friends and mates is also one of the things that make people fomo. thats why its always important to keep your emotions under control. dont be oppressed by anyones profit, you will make your own if you do the right thing. i read comments from lots of traders that are lamenting of their loss because of fomoing to buy the top. one important thing to always remember is that there are alot of opportunity, all you have to do is to find them early and buy into them.

I think that trading should not be seen as a competition, it is very difficult to reach the level of a whale, for some traders when they lose they do not say it, because they fear that they may see them as a failure, but the losses are normal, what must be done is Trying that the gains are greater than the losses is not a reason for shame.

95% of traders lose, technical analyzes fall, are invalidated and sometimes do not work, according to Malkiel Burton 85% of technical analysts fail, and fundamental analysts likewise, there must be a balance between both analyzes. I think that the main driver of loss for traders is because they believe that they will become millionaires quickly and that thinking is what leads them to failure, if traders saw trading as a business, just like traditional business traders do, Traditional business profits are seen at 3 years, with hard work, the difference with trading is that the profit can be seen quickly.

death69

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Totally agree. You need to set up a gold in order to find a suitable entry and proper profit. Patience is the key leading you to success in trading. Emotional trading only makes yourself disadvantageous. It is hard to conquer the beast within you but once you contain it, profit will come to you in a stable way

How to avoid FOMO? It is quite simple. Avoid trading with news because it is the prime reason driving you in emotion. Unless you are sensitive with the news (you can predict almost precisely every time the news generate information), do not enter any trade

Instead of trading, there are various ways for us to obtain knowledge such as reading more books. Trading books carry a lot of wisdom and the older the book, the more valuable it is. Trading is about the behavior of collectives and human routines do not change for the past few decades. Thus, learn to trade means learn to understand Behavioral Economics

randegibran

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Quote from: Pokapoka124 on April 22, 2021, 12:28:51 PM

FOMO is not limited to newbies. The concept that only newbies fomo is not true..everyone has emotions. Fomo is an emotion of fear and greed. And I'm sure everyone experiences that at some point. There's no exception it takes a lot of discipline not to fomo.
The crypto space is crazy and unpredictable. I have seen good traders lose their cool when trading and they completely forget their trading plan. Truth is things are easy in theory than in real life.

Many newbie make them loss much money after seeing fomo from the other, I think very bad ideas when some one entry on coin depend with other fomo. Better never try or buy with shit coin although promote by an expert because they try how to make you buy and other time they sell coin, after their coin sold you can see price dump and you loss all.

Pokapoka124

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FOMO is not limited to newbies. The concept that only newbies fomo is not true..everyone has emotions. Fomo is an emotion of fear and greed. And I'm sure everyone experiences that at some point. There's no exception it takes a lot of discipline not to fomo.
The crypto space is crazy and unpredictable. I have seen good traders lose their cool when trading and they completely forget their trading plan. Truth is things are easy in theory than in real life.

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