Bitcoin Forum

The Joy of Missing Out (JOMO) renders a bad trade or missed trading opportunity as irrelevant, because there will always be another better opportunity to enter the market.
‎While the fear of missing out (FOMO) is the opposite of JOMO and it is a psychological state that is caused by fear and greed. It makes a trader abandon their plan often at the worst possible time to join another trend.   
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‎FOMO is the irresponsible state a trader finds themselves in before they lose a lot of money, and JOMO is the responsible mind state that saves traders money and helps them remain focused and disciplined in their decision-making.
‎Both JOMO and FOMO represent the physiological state in the volatile crypto currencies market and JOMO is the emotionally intelligent antidote to FOMO. It is a disciplined mindset that finds contentment and satisfaction in sticking to a sound strategy, even when it resorts to just watching potentially profitable market moves happen right under your nose, but without you making any input.
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‎To consciously learn to be able to switch from a state of  FOMO to JOMO is what makes the difference between a gambler and a professional trader and to be able to apply JOMO entails that as a trader you must;
‎*Develop a Rock-Solid Trading Plan to know your entry points, exit targets, and most importantly, your max risk/stop-loss for every trade.
‎* learn to set alerts, not screen, to ensure that if the price doesn't hit your alert notification, you don't trade.
‎* Define a maximum daily loss and
‎* Embrace scarcity of good trades.
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But FOMO has not always led to money loss despite how we advise people to be cautious of how they approach a FOMO market  situation, still there people who still make profit jumping into a FOMO situation, which doesn't make them look irresponsible but something off the word irresponsible :D. I think there are trader who can agree on this by experience.

So therefore, we can't subjectively say FOMOing is an irresponsible state because there are times (not always tho) you can FOMO at the right time and make some profits eventually. However, I agree with how you coined and interpreted the acronym JOMO in  terms of using it as antidote to a FOMO situation. Very impressive.

JOMO is a guaranteed way to remain poor and an economic loser for the rest of your life. FOMO into shitcoins is a guaranteed way to ruin. FOMO into Bitcoin is a guaranteed path to freedom.

Exactly. Instead of blaming FOMO, blame the person who is affected by it. Not everyone is stupid like the majority. There are people who FOMO'd into Bitcoin as soon as they've read about it, because they are a bit late to the party. They got red pilled instantly. For some reasons they just didn't encounter this topic or research it properly before. Why should they not FOMO?

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Whether you like it or not, by not participating in Bitcoin you are indeed missing out on the best thing to happen in the 21st century.

This is just it and I can not agree more, you are very correct. Altcoins is what any investors should stay away from but they can use it to gamble and they might win or lose instead. If you fomo and buy bitcoin and you did not sell it, even if you first start to lose, you will later make money from it, this is unlike those altcoins that can ruin people's money.

From your definitions, JOMO is a dangerous thing to do because it is like the manifestation of indecision and procrastination. If you FOMO, the worst that can happen is you buying at a higher price but this will not have any significant effect if you are holding for a long term. It is only a problem when you buy to sell within a very short time, you may be unlucky to see price pump and give you the profits. Instead of being out of the market, it is good to enter too early.
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Our reaction to both terms is circumstantial. While we can say that FOMO has two sides to it because trades taken when we're hasty as not to miss out can go either to profit or loss, JOMO is one sided. Investors tend to be joyous only when what they couldn't invest in turns out sour. I've been in a similar situation where certain degen calls I wanted to take but delayed a little turned out scam. I was glad I didn't step in.

Now, here's the point. There should be a place for every investor not to attach emotions to whatever project(s) they're investing in. Due diligence and research should come first and with those two, FOMO will not be a thing. While should anyone FOMO this day, knowing there are lots of shit and scam tokens printed on a daily basis now? Go to four.meme or pump.fun and observe what happens there. This industry is getting messed up on a daily, honestly.

Actually I won't lie as I would say that this is my first time of hearing this word "JOMO" and of course it is a great thing knowing about this JOMO as it works on the reverse case of FOMO. I think this your topic would be that interesting in trading discussion section than this beginner & Help section you posted it, although it would help newbie lot of people to understand something new.

Lol well a never saw this coming. Before I opened the post I tried guessing what it would mean probably something like "joy of making it in " but the words were not matching so I just took a chill and decided to read through. Anyways I get where you are driving but actually I'll say it's best for you to just avoid missing out and rushing into buying.

If you call yourself a bitcoiner you should be able to buy at a price point convenient for you and also already have a price mark you'll like to sell from.

Same here I actually thought that the OP coined the word JOMO Joy of missing out themselves, but fear of missing out FOMO is a pre activity meaning it comes before an activity. Does Joy of missing out JOMO happen before or after the activity.

If JOMO happens before that means you aren't ready take risk on he right gems like Bitcoin.

In as much volatility remains constant and traders are aware that they're just gambling while predicting bitcoin price, they'll always celebrate when they failed to place trade order due to one reason or the other after trade setup and the market went against your decision, you might feel JOYFUL cause you'd had lost the  trade if you had placed the trade. Thumb 👍 .
So what'd be your confidence when placing that very trade as a future trader? Predictions aren't guaranteed so there's no driving essence to create Jomo the emotions is only there when you've placed an active trade. So it drives the Fomo.
If you your money isn't at the risk there'll be no psychological connection unless you're an infrequent trader.

This JOMO and FOMO can be expressed in two case scenarios which I shall explain to the extent at which I perceived it.

We have traders aiming for short term profits, it could be spot traders who are buying different altcoins and bitcoin at a sudden dip and then resell back when there's a sudden pump. The second type are derivative traders who use leverage to predict the price movement of a crypto pair without really buying or holding the coins, just pure speculation.

JOMO can be more advantageous for derivative day traders/scalpers and also to altcoins traders because these set of traders are always looking for opportunities in the market to enter a trade and make sharp profit from the market movement, that's to say, even if they missed to take a trade from their intended point of interest due to lack of proper confirmation or other reasons, they will be happy because it's better to miss a trade than to get their account bursted due to FOMO which might have forced them to take the trade at the wrong time. So, there JOMO would be that there are always opportunity in the market daily, since price is always volatile (price is either going up or down). For the altcoins spot traders, their JOMO would be that, " it's better to miss out than to fall pray to the dump of an altcoin which my never recover from the dump.

The last scenario is for Bitcoin investors/holders, there's a saying, "always buy the dip" And for a bitcoin holder who is interested in buying more Bitcoins to hold, there's never a JOMO for him after he has missed to buy from a particular dip price that he must have been targeting to buy from. A bitcoin holder that is visionary is buying more BTC or holding into the future, his FOMO relays on dips(he doesn't want to miss from buying a dip). Such person won't have any joy of missing out if they could not afford to buy and hold. A bitcoin holder that expresses fear of missing out, in terms of selling off, it means the person is a weak hand and perhaps doesn't have a target for the price they wished to sell their bitcoin.

I think OP meant JOMO to mean joy of missing out because the trader has not yet participated in the trading activity. It could be the trader missed it willingly or not.

This JOMO of a thing would be effective where a trader has mastered patience to a high degree and such mastery of patience I believe, is gained from constant practice and learning from the mistakes of both others and oneself.

Many people have an issue with accepting reality for what it is. For better or worse the current world has an extremely fast pace. No single individual is able to decide to opt out of the race and live well, that decision is not compatible with the state of things. Some delude themselves that this is possible and join some into stinky hippies or other groups of this kind -- but generally we ignore those groups. Given that Bitcoin is the hardest kind of money and the only decentralized network network in a world that is fast paced and filled with fiat currencies that are constantly inflating, it is imperative that it is acquired by the individual on time. There is no limit for the potential price of Bitcoin in a world like this.

The first group of people, as I've described, are those that are dismissive and trying to find a way to cope with the world. They are not doing that great. The other group is one that partially realizes the state of the world but they lack the education, patience and discipline to do things in the proper way. This is why they fall for different scam schemes and end up gambling away their money. Whether it is altcoins, NFTs or some other traditionally questionable investments, the pattern of behavior is similar.

Conclusion: FOMO for Bitcoin is needed. FOMO for everything else is not.

Such people are so rare that they are not worth mentioning. There is no point to make a thread about a fringe minority, therefore I do not believe that OP is referring to them.

FOMO represents your anxiety whereas JOMO is the result for persisting with your own trading plans so even both are the state of physiological level, when experiencing you will find the actual differences. We all as holder of bitcoin, definitely FOMO helped me a lot and in many cases with altcoins, I have experienced JOMO. All my lumpsum investment with bitcoin at whenever prices bottomed out (at least in my own analysis) were out of FOMO and when I will be holding my bitcoins, all my FOMO worked in favour of profit making. Overall, no JOMO for me with bitcoin investments.

Altcoin hypes are known for short living and there were lots of recommendation in this forum about various coins and tokens but I ignored them after few bitter investments with altcoins and all those ended up in JOMO in very short period of time itself. I do get email notification from my exchanges about delisting of coins/tokens which is just another of JOMO in most of the times.

it doesn't always seat well with me when ever I see people here calling all this shitcoins altcoins, I always prefer when we refer to them as shitcoins, but that's by the way, as an investor who really know what he or she is doing this space it is advisable you avoid dealing with shitcoins that are no store of value with potential returns and focus only on bitcoin that have already proven to be a store of value with potential returns long time ago. And if you buy bitcoin with fomo you have nothing to lose or regret provided you are investing for long term, because if bitcoin dip today it price will still increase with time and you will still make profit from your bitcoin investment on the Long run, but if you invest in shitcoins with fomo that is not investing  you are gambling with your money and there are no guarantee you will make profit, because majority of shitcoins out there have nothing to offer, they are likely to be pump and dump projects so avoid dealing with shitcoins to avoid saying stories that will touch the heart tomorrow.

JOMO actually has more meaning in general word. JOMO can be interpreted as not following trends, or even not engaging in any activity. However, the crypto community interprets JOMO as stay calm despite seeing many coins pumping and we are not buying it, if makes an entry we can be enter the market at the peak before dumping. This is where they began to associate it with remaining JOMO. However, JOMO doesn't offer any guarantees, it still depends on the individual. The success of JOMO lies in how traders can enter at the right time and invest in the right coin not just a shittokens, but in BTC instead.

I am sure that you cannot apply JOMO wherever you get FOMO. Because FOMO is about acting immediately whereas JOMO is not about immediate responding to something but market will take time to give you the feel of JOMO. So overall I'm not getting a point of applying JOMO instead of FOMO. I mean for enjoying JOMO, you need to wait for market to settle somewhere but FOMO will urge you to act instantly.

Even these two sounds similar, I am sure that you cannot apply one instead of other. In simple words, FOMO is about entry point related whereas JOMO is about where market finishes, for this market may take one week or one month of time. So, we cannot have either one. We may avoid FOMO with the hope of JOMO still there would be no guarantee for JOMO to happen.

I have JOMO everytime I see a coin going up and I decided not to jump into the hype train because I have good experience of whats gonna happen next.
Because at the time I got information about certain trending coin that has surged massively, I know the market is finding exit liquidity so I just said nah and ditch it.

This is why I very much prefer just doing DCA for larger share of my portfolio.

That's a straight forward approach to start with too,it's shows satisfaction and emotional preservation.JOMO in trading gives a satisfaction in not chasing every move.Each time you missed a FOMO trade,just bear it in mind that you've avoided a risky trade.Since JOMO on the other hand keeps a trader away from troubles.

You may enjoy JOMO only market performs negatively (or against your prediction in markets like futures trading where you can sell first and buy later). So, every time if you skip a FOMO trade and how you will be sure that market will not reach a target, you actually aimed for? JOMO is all about, you miss a trade and market hits stoploss. FOMO may guide you for aggressive trading. If you do not want to be aggressive and go as per your plans, then you must have good control in balancing emotions. FOMO may result in profits as well whereas JOMO may preserve your capital.

I am not going to agree with OP on replacing FOMO with JOMO, instead I will try to be going as per my initial goals and not making any trade because of FOMO or FUD.

These narrative of both JOMO and FOMO seem to add up but for the full scale of your post, you seem to be missing the explanation rightly for me at least with the way I understand them, if JOMO is Joy Of Missing Out, that means an intended investment would have gone bad and the would be trader or investor is happy not buying. So probably the coin was pumping but the trader decided to be patient and watch the move then suddenly the rug was pulled off the foot of investors, hodlers or traders (if you understand what I mean) and the crash happened. In such case JOMO happened, Joy of Missing Out of bad investment. In the other hand, FOMO being Fear of Losing Out is basically what we know as being in a haste to rush in and in fact going in at all cost "to avoid" losing out on the profit but this as have been said, can be profit or loss at the end of it.

So if you buy a coin in a haste because you don't want to miss out, you FOMO and JOMO when the suppose good investment didn't go that positive way.

It's good to see that you know what safe for you and you realized that early.Honestly JOMO is about awareness,this awareness helps you pause and reset instead of reacting impulsively by separating your true desires from irrelevant pressures.JOMO shifts attention from what you’re missing to what you’re gaining.