DID YOU EVER FALL INTO THE FOMO TRAP?

[cryptohoodz]

FOMO = fear of missing out. An important rule you can read online is that you should never buy cryptos when the price is pumping very hard, because after all pumps the price goes down and corrects.
Sounds really rational and a smart thing to do.

However, I have to admit although I gained experience in crypto and made some decent profits, sometimes it's really difficult to resist buying a coin when it's really hyped and price goes though the roof!

Do you guys experience the same thing?

[nydiacaskey01]

Several times and its without studying the charts and price history. When I read somewhere that price is going up and I saw a big green stick in in the chart I bought the coin right away and price slowly dropped. Later on I found out that the reason why the price suddenly shoot up is because it was listed on another exchange. Learned my lesson there and its costly.

[bit-freedom]

Yes, I fell for FOMO when I first started in crypto. I heard lots of good news of a coin and got interested. The good news made me motivated and believe that the coin will bring me good profit. So I bought the coin quickly because price keep rising, the coin ended up dumping and I became a bag holder for a long time.

[KryptoKai]

Everyone fell for FOMO at the end of last year, everyone in the media was reporting huge gains so everyone jumped in but then got burned during the correction. It will begin again now that crypto is pumping again so the FOMO factor is back

[jamesndungu1]

FOMO = fear of missing out. An important rule you can read online is that you should never buy cryptos when the price is pumping very hard, because after all pumps the price goes down and corrects.
Sounds really rational and a smart thing to do.

However, I have to admit although I gained experience in crypto and made some decent profits, sometimes it's really difficult to resist buying a coin when it's really hyped and price goes though the roof!

Do you guys experience the same thing?

Everyone starting on crypto will fall for all the ups and downs of crypto space, It takes time to mature; understand the market and settle. Its a learning process.

[kindbtc]

I think every trader usually gets trapped due to fomo i also made few bad investments when i bought the peak due to fomo, now all those coins are down around 70%, i will hold and wait for next bull run and do not plan to sell them in loss.

[Moiyah]

However, I have to admit although I gained experience in crypto and made some decent profits, sometimes it's really difficult to resist buying a coin when it's really hyped and price goes though the roof!

Do you guys experience the same thing?

Many times I did a regret because of this. And that was a mistake before. Of course, my eyes widened at the coins which I saw last time that almost reached the sky. But same thing goes to the other traders, I have been tempted before and bought some of my coins at a high price.

Well, we have learned from our experiences. Thus, I have gained some strategies now without that FOMO thing.

[Verde_Mantis]

FOMO = fear of missing out. An important rule you can read online is that you should never buy cryptos when the price is pumping very hard, because after all pumps the price goes down and corrects.
Sounds really rational and a smart thing to do.

However, I have to admit although I gained experience in crypto and made some decent profits, sometimes it's really difficult to resist buying a coin when it's really hyped and price goes though the roof!

Do you guys experience the same thing?

I think that sooner or later all the people who don't have any kind of financial background, including me of course, fall into FOMO. It's a new market, we always think it's gonna boom, we just buy.

[shirackjs]

Honestly, I still fell for fomo after a few years in crypto. When coins’ prices are going up, you never know whether it is fomo or a real price rise.

[reypinioco]

FOMO = fear of missing out. An important rule you can read online is that you should never buy cryptos when the price is pumping very hard, because after all pumps the price goes down and corrects.
Sounds really rational and a smart thing to do.

However, I have to admit although I gained experience in crypto and made some decent profits, sometimes it's really difficult to resist buying a coin when it's really hyped and price goes though the roof!

Do you guys experience the same thing?

Of course i was trapped twice,but that is when i am new to the market and it was the worst nightmare that i have faced of,i lose half of my investments but i managed to get it back thru investing to another altcoins.I have learned my lesson too hard which is why i am not going to make the same mistake.

[crampus]

I do not have similar feelings, maybe because I have this secondary income? If cryptography becomes the main income, then everything is possible.

[btcblockchain]

Yes I experienced in Ripple coin ripple has biggest Fomo in entire crypto industry  ripple increase in value all of sudden at least 5 to 10 times in a week

[sourish]

FOMO is another aspect of addiction, and i dont think anyone in cryptosphere has been left untouched by it, maybe due to greed, anxiety, herd mentality, lack of maturity, rashness or just plain desperation.

[honghe99]

Sorry, I don't understand what you are talking about fomo. Is it an ICO token or a coin. Can someone tell me what happened to fomo?
it seems to be a very famous thing that you all know it,I'm curious.

[CryptoSheikh]

I don't know if you would consider it FOMO but when the bitcoin dropped to 7950$ first time after the bull run i bought and added some when it reached 9000$ then it dropped to 6k -_-

[kenmobility]

almost every crypto trader fall into the trap of FOMO, may be once or twice,  the only way to avoid falling for this is by researching about any alt coin before buying it no matter how the price is pumping, because it's only shot coins that are being pumped and dumped like that easily

[whofeelsitknowsit]

Definitely - I was FOMO'd by Spectrecoin and Coss at year end.  I've managed to cost average my Coss way down, but haven't bought more XSPEC on the way down.

[Devanomrz]

Yeah
When i'm started about trading
I'm frequently FOMO
Always buying the flying coin
And then i'm realized that's a disservice
Now i don't easily got FOMO again
Check the chart and the news first
That's the tips

[whofeelsitknowsit]

almost every crypto trader fall into the trap of FOMO, may be once or twice,  the only way to avoid falling for this is by researching about any alt coin before buying it no matter how the price is pumping, because it's only shot coins that are being pumped and dumped like that easily

I'm not sure I agree.  It's impossible to predict the market.  As someone else noted, if you bought at the end of 2017, you were FOMO'd pretty much regardless of what you bought.

[Noobaru]

Regarding trading, not yet. But regarding other crypto related things, definitely yes. I can't seem to stop thinking about the opportunities I missed, because I only got in the whole crypto scene a year ago. But it always calms me down to think about the opportunities that still lie ahead.