Your title do not relate correctly with your write up, but to start with it first, FOMO is not encouraged in any way and many atimes it has been proved to be bad; well this is my opinion.
Secondly, you are right with your post about most coins. Buying Bitcoin and Ethereum most times comes with no problems or worries about when the price dumps, and if it will rise again, this has happened many times and those who bought low smiled at the end. But in the case of new projects, it is never advisable to buy at the top or even what we might thought to be the bottom, many people who did this regretted a lot, therefore just like you suggested, one need to be sure of the team's plans and the movement of the price before buying. On the other hand, most new projects, once you sell at a good price it's better to just move on and remove the idea of investing again.
Topic: Why FOMO isn't as bad as people make it seem. - page 2. (Read 528 times)
I could not relate the OP with the topic at all but let me give my honest opinion about FOMO and how it can be good and disastrous for people.
A new token comes into the market and you invest because of the FOMO (fear of missing out)
1- The token actually had a solid plan and you make the decision of your life and make millions
2- The hype was fake which is usually the case and you lose all the money you invested.
I was once a victim of FOMO and I bought a big amount of Coinstarter token because that time it seemed like it will be huge and they had a solid plan and enough marketing to trap investors. But after investing I had sleepless nights because the token never got up to even 80% of expected value and I had to sell them at a big loss.
A new token comes into the market and you invest because of the FOMO (fear of missing out)
1- The token actually had a solid plan and you make the decision of your life and make millions
2- The hype was fake which is usually the case and you lose all the money you invested.
I was once a victim of FOMO and I bought a big amount of Coinstarter token because that time it seemed like it will be huge and they had a solid plan and enough marketing to trap investors. But after investing I had sleepless nights because the token never got up to even 80% of expected value and I had to sell them at a big loss.
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 believe what you say. Because some time ago I experienced something like that. If it's a new project, that can't be true. Because what happens is when the price is below. that doesn't mean we can go in and invest, because what happens after that is the price continues to fall and fall.
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
Correct! new projects mostly being played by developers and some whales behind,
if you will take your chance better to make sure that you have good knowledge in
order for you to enter and exit in the right timing.
As soon as I read the title I thought you would say something about FOMO, however you are talking about buying at the bottom and selling at the top. Of course, every investor wants to do that, but it's very unlikely to happen.
As for FOMO, for every investor in this market it's a bad thing and everyone wants to stay away. To be successful, you need to invest based on your decisions, not on market trends.
As for FOMO, for every investor in this market it's a bad thing and everyone wants to stay away. To be successful, you need to invest based on your decisions, not on market trends.
Every investors who experienced bad things with foming inside the market, leaned things in the hard way, you
should always balance everything before taking any decisions, fomo is not good as the percentage of risk is far
higher than the chance that you'll be able to compensate.
As soon as I read the title I thought you would say something about FOMO, however you are talking about buying at the bottom and selling at the top. Of course, every investor wants to do that, but it's very unlikely to happen.
As for FOMO, for every investor in this market it's a bad thing and everyone wants to stay away. To be successful, you need to invest based on your decisions, not on market trends.
As for FOMO, for every investor in this market it's a bad thing and everyone wants to stay away. To be successful, you need to invest based on your decisions, not on market trends.
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
Mate, I'm a little bit confused with the Thread title, But it's okay I can handle it, by the way, let me take my opinion about it, FOMO means "Fear of missing out", in reality, the FOMO in the crypto Industry brings some bad for others, and bring some good for the others also, But there was no FOMO that begins with the lower bottom as you said, All FOMO events are driven the coin/token price upward, because of the fake demand created by FOMO from unsuspecting investors/buyers. that was my opinion.
...When the FOMO ends, people who bought late will unable to sell it higher than they buying price, this is of course what we don't want at all.
My conclusion is, FOMO is good for early buyer, but it is bad for late buyer.
My conclusion is, FOMO is good for early buyer, but it is bad for late buyer.
In any case, it is better to get a small profit than a big loss. Therefore, an experienced trader will not try to buy a coin at the very bottom, because it can still lose more in price. It is easier to wait for confirmation when a reversal formation occurs and the coin begins its upward movement.
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.
when you already know that there is a FOMO which has an influence on the price movements of a coin, then my advice is not to enter and participate there because it will make you stuck on that coin and of course some time in the future the price will collapse and become cheap again due to price movements what is generated from FOMO cannot guarantee that it will keep going up. FOMO can be good (sometimes) but FOMOing on already 200% up projects can be bad IMO.
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.
Often to happens when we are buying during the coins when seeing the price started to pump and if we tried to analyze it, definitely dumps will follow right after the surge. This scenario is not new to us, we already knew this since before. And it is a big mistake but somehow many were still not able to catch it and learn. That is why I'd never wanted to read the news, FUDs could start FOMO, and people started to get crazy once the drops started and immediately sell their cryptos. FOMO can be good (sometimes) but FOMOing on already 200% up projects can be bad IMO.
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.
FOMO can be good (sometimes) but FOMOing on already 200% up projects can be bad IMO.
There where several times where I second guessed myself and spent an extra day researching something while it mooned. By the time I was ready to buy in it was twice as expensive.
The majority of newcomers fall to fomo after which they will try to hold on to wait for the price to rise again, which is the way to go wrong.
Many garbage projects after falling will never be able to return, if you fall on fomo you should try to get out of it as quickly as possible.
In the end I think that FOMO is not good for investors, it's best to make your own judgment, not invest according to the trend of the market.
Many garbage projects after falling will never be able to return, if you fall on fomo you should try to get out of it as quickly as possible.
In the end I think that FOMO is not good for investors, it's best to make your own judgment, not invest according to the trend of the market.
It's still about winning and losing, sometimes FOMo helps and sometimes they are bad news, I suggest doing research on the project first before joining the FOMO, most projects are simply pump and dump so you need to be very careful, research should come first
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.
Traders should know when to buy or to sell and own up to it. But the thing is, no one actually "knows", specially with coins so volatile. I still wouldnt blame traders who buy because of the fear of missing out tho, after all, if they took the chance, they might also profit from it.
First of all, the subject title isn't related to the OP's post that it makes the readers confused.
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.
I might agree with you with this. Those trusted coins will surely go back up since it is a cycle. It will go down then it will go up then down then up.
Buying at the bottom and selling at the top is easy to say but in reality, even the professional traders don't even know which is the bottom of it. The best thing to do is to have a strategy and plans that will help you when to buy and when to sell and not buying the bottom and selling at top because it is very hard to predict.
I might agree with you with this. Those trusted coins will surely go back up since it is a cycle. It will go down then it will go up then down then up.
Buying at the bottom and selling at the top is easy to say but in reality, even the professional traders don't even know which is the bottom of it. The best thing to do is to have a strategy and plans that will help you when to buy and when to sell and not buying the bottom and selling at top because it is very hard to predict.
but you didnt explain why the fomo isnt bad , what you explain instead is buying low selling high . you dont need to include new coins on your explanation because you said old coins are only applicable on the buy low sell high principle . back to fomo , fomo is not bad if done right . whenever there is decline in btc or even if there isnt , people should do fomo on it buy buying btc's. not only this works better on btc but it can also be done on other solid coins . fomo on reverse is the one that is bad to do because it leads to losses for both the coin user and to the coins ( coins drops in value )
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.
Following the FOMO hype is not wrong, but you have to think before purchasing because if you are trapped, then you will lose. Follow the Fomo that just happened. For example, yesterday, filecoin was accused of being a scam by Justin. Then you have to quickly short 1-2 minutes after the news of the scam accusation out. In essence, you have to understand a good time to buy.
Your best bet is Bitcoin, even if you buy high you will have the full confidence that it will recover someday, why? Because Bitcoin is here to stay and it's the strongest, unlike new altcoins that can fade away in just few years, I'd create room for FOMO if it's from Bitcoin
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.
Probably you seem to have a different definition of FOMO. Como is generally used in the sense that you know that the coin is over valued but you still end up buying it thinking you may not have the chance to buy.
It is often created by social media hype. Just have a look at the farming tokens and the people who fomoed into it.
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