Topic: Why FOMO isn't as bad as people make it seem. (Read 520 times)
The pro traders knows what how to play the game. You don't go all in even at the time you feel the dip is ending. For a buy signal, it must be clear that it's a buy and if it will range or retest some points, it shouldn't knock you out. Trading fake outs is not fomo, it's just a wrong trade timing.
Friend, fomo is still not a good thing for us because it will gives profit for some certain people only.
It became a method to pump and manipulating the price of the coin and this is not healthy, but it is only my opinion though.
I prefer to buying some good coins than some coins that having fomo.
what is clear is that don't just get carried away with emotions when trading or investing, it can mess up the analysis, so you tend to decide to buy or sell just because of fear (FOMO). Doing deep research before trading and investing is very important, it can provide the right timing to enter and exit the market before any losses occur. Meanwhile, when fomo, we only do activities based on the flow, we can drift away and don't have full control, luck might be there if you can get out before it's too late. It became a method to pump and manipulating the price of the coin and this is not healthy, but it is only my opinion though.
I prefer to buying some good coins than some coins that having fomo.
The reason why is FOMO is bad sometimes because it leads to buy high sell low situation instead of buying low sell high that can lead to excessive loss which happened to me quite a bit during my early crypto days lol.
FOMO can be good (sometimes) but FOMOing on already 200% up projects can be bad IMO.
The fomo is created by those people who buy high and sell low. When something goes up 50% they suddenly got a lot of excitement over what that has already happened, they will write everywhere like "will bitcoin be 1 gajillion dollars!!!" and whatever which will create a huge FOMO. I personally do not think that any increase should be stay away deal, sometimes prices go up and follow that up with another going up, but why risk it? Buy stuff when they are low.FOMO can be good (sometimes) but FOMOing on already 200% up projects can be bad IMO.
However what people who do FOMO and lose money defend themselves with the fact that when bitcoin goes down you can buy it and go up, but when some weird altcoin goes down it may actually stay low for a long time as well, because it is altcoin and it could never go back up if it is a scam altcoin so they try to get in whenever they can.
FOMO is like a tool, it can easily manipulates you in the wrong way or in the right way, it's left for you, if any project has a strong FOMO it's your duty to do deep research first, don't care about missing out or not, this will safe you from unthinkable losses, FOMO is as bad as good as it is, be wise
It's hard to spend time studying a project when you see the chart moving up. If this growth is from 10 dollars to several thousand, then many people do not think and immediately throw their money into the project. Personally, I have made one important rule for myself that it is not worth investing in highly popular coins, because they can go down at any time, as it was not so long ago with YFI.
because most people get a loss when Fomo occurs, let's say some people buy when a coin has been pumped very high.
and they say that the coin is bad because it does them a loss, but not if they can control themselves and read the charts before buying.
and they say that the coin is bad because it does them a loss, but not if they can control themselves and read the charts before buying.
fomo will make people forget and will go with the flow even though it is very unlikely to be followed.
when there is money on a coin and it has experienced a high increase of up to more than 50% in 1 day there will be an idea that the coin will still move up.
when in fact it does not necessarily increase and tends to fall after the increase.
when there is money on a coin and it has experienced a high increase of up to more than 50% in 1 day there will be an idea that the coin will still move up.
when in fact it does not necessarily increase and tends to fall after the increase.
Many unaware traders falls from this scheme, whales and pumped groups are good in playing with traders emotions, with such increase they easily been moved to ride in.
It's the very common thinking that buying in such rush will benefits them and will not let them left behind, those who able to buy then sell as quick as they can will bring home the bacon, while those who are slow and greed will lose a lot.
You need tp be quick if you are riding with the fomo's the ride will be sort so know
your stop point and bring something to your investment.
In this space, its virtually impossible to know the exact time to buy. Some persons prefer buying low and selling high, but atimes the value of the tokens may be on the verge of extinction and buying low could make one a bag holder of shit tokens. There's no doubt that atimes, this strategy could make one earn maximum income because the project may recover from her depression and face the moon. In every situation, its best to invest only what you can afford to loose.
The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.
I agree with you that it is easier to invest in cryptocurrencies that are already established in the market, and even if their price goes down, then after one thing it will return to the previous positions and become higher, it's only a matter of time. There are many questions about new cryptocurrencies, especially those whose prices are growing rapidly, and I would not invest in them. But not all new cryptocurrencies are dangerous to invest in them. For example, there are those who have their own working product and their growth is conditioned. I believe that you need to invest consciously and not rush so as not to lose your funds.
fomo will make people forget and will go with the flow even though it is very unlikely to be followed.
when there is money on a coin and it has experienced a high increase of up to more than 50% in 1 day there will be an idea that the coin will still move up.
when in fact it does not necessarily increase and tends to fall after the increase.
when there is money on a coin and it has experienced a high increase of up to more than 50% in 1 day there will be an idea that the coin will still move up.
when in fact it does not necessarily increase and tends to fall after the increase.
FOMO is like a tool, it can easily manipulates you in the wrong way or in the right way, it's left for you, if any project has a strong FOMO it's your duty to do deep research first, don't care about missing out or not, this will safe you from unthinkable losses, FOMO is as bad as good as it is, be wise
FOMO offers a better price for any asset. The higher the peak, the higher the bottom, the effect of FOMO.
Most people buy and sell according to technical analysis, price model, I think that's better than FOMO. In the Crypto market, where more than 80% of projects grow through marketing, the actual value brought about by cryptocurrencies is very small and only a handful of projects are useful. Consider qualitative and quantitative rather than stupid advertising.
Most people buy and sell according to technical analysis, price model, I think that's better than FOMO. In the Crypto market, where more than 80% of projects grow through marketing, the actual value brought about by cryptocurrencies is very small and only a handful of projects are useful. Consider qualitative and quantitative rather than stupid advertising.
The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.
Yes, certain strategies only applies to solid project otherwise if you apply this to shit coins you will definitely get rekt in the process, it is better to watch that new coin closely for sometime and see the market behavior before you can decide, especially when the team are actively developing the project, most new project don't worth the trouble, the developers are also short-term seekers so once they hit their target they stop developing and that will be the end of that project.
The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up.
Bitcoin and ETH won't give you the type of ROI those 'untrusted' altcoins will give if they were to later succeed and not disappear. I guess this is the reason traders take the risk investing in them.FOMO isn't that bad simply because it can leads you to be in profits sometimes but not every time so its more like how early you enter into the ship and exit at the perfect time before it gets drowned.But there is no other reasons to call it as good, and even you are manipulated so don't become someone who make decision for other's profits.
Honestly, I don't know which is better; FOMO or FUD? But I think while FUD saves you from incurring losses but preventing you from making profits and a good ROI, FOMO gives you that anxiety to buy on impulse and possibly record losses and regrets. You know, when YFI got to over $30,000 traders chased the price up to $40,000+ because of FOMO. Now YFI is trading below $14,000. Those who bought ATH are still licking their wounds from that action. The same thing happens to those who bought Bitcoin at ATH in 2017 and Bitcoin is yet to revisit the $19,000+ ATH till date. I rather fall a victim to FUD than to FOMO. FOMO isn't that bad simply because it can leads you to be in profits sometimes but not every time so its more like how early you enter into the ship and exit at the perfect time before it gets drowned.But there is no other reasons to call it as good, and even you are manipulated so don't become someone who make decision for other's profits.
You accept risks and join FOMO parties. Good or bad it depends on each time you join FOMO party and how soon or late you join it. With FOMO parties, the later you join them, the higher risks of losses you will get. FOMO parties never last too long.I disagree with this because you could definitely always buy at the bottom and sell it at the top but the challenge is when you will buy it. This should already be a common rule for everyone. If you check all the charts of the coins, there would always be a lower low and a higher high. What you would do as a trader is when you are going to trade, what indicators tell you to trade, limit positions, limit risks, and many more. It's not going to always be about FOMO, it's about being smart with what you are trading.
Buy the bottoms, sell the highs and make a schedule when you will make your sellings. Your plan and your patience will help you get profits if you buy at good price (should be at bottom). Sad to say, even if you buy at bottom, you still can get losses if you don't have enough patience and shake your weak hands before the days your investments turn to be profits. The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.
Been there. Way back in 2018.
Forgot the name of the token.
Bought like 200k in amounts of the token because it's cheap. Suddenly it fell down really crazy.
It became dust.
After that, I started to just stay with the trusted coin. Don't want to experience the same hell again.
Even though it's cheap, that's still money that could have been bought for another coin.
I've make good money through FOMO on few coins but lost more, what I've learnt so far about FOMO is never jump into any new projects especially if you have no knowledge about what the project is all about, beware of pump and dump coins because they create the most biggest HYPEs around the web
Yes, most cases of getting into FOMO on new projects lose all of their money. New projects are difficult to get back to their original prices, most new projects devalue until they become a pile of trash.You have the good fortune of having FOMO on big and prestigious projects, my advice is if FOMO is on new projects get out of it as quickly as possible.
The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.
Agreed, but i think it also happened in bitcoin,ethereum or to all coins in general specially on bear market when all coins are on downtrend position. When you bought at the dip thinking that is the buttom but the price still go lower, so it is better to do when the price of a coin you want to buy is in downtrend dont use your all funds to buy all at once better to buy it slowly and small amount like 25% of your funds per purchase. 
The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.
Can you pls explain why you have chosen another question as a title and explained another thing? Maybe I didn't understand the meaning of the question but other users also have asked similar questions too. The FOMO has no relationships with buying low and selling high, AFAIK. Price traps can be found on all charts without paying much attention but FOMO is totally different edition version of super high demand by investors during bullrun.FOMO is about the not resisting yourself to buy more while the buying low-selling high is a brick of trading profession. The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.
Trading little-known coins is very difficult. Because their price is most susceptible to manipulation by big-money players. They can throw a few million dollars into creating a hype around one of the weak coins, they will start buying it, the price will rise quickly, which will arouse the interest of other people. When people start buying this coin EN masse, the big player will sell them all their coins and leave. Because of this, the price will fall forever and will no longer grow. Such situations are quite common.
I think I understand what the OP is trying to say, he/she is talking about riding a trend, it is true we can not fight a trend, in a bull market waiting to buy the bottom will make you lose on great gains, but the most important thing when buying these tokens is that you are comfortable holding them because some of them might not perform the way you plan
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