DID YOU EVER FALL INTO THE FOMO TRAP?

[minthit]

I once did fall into FOMO trap and lesson was learnt in a hard way. Currently, the price is gaining for some reasons. I'm thinking about selling some especially when things settle because I doubt that it'll be FOMO. Even then, it's still difficult to decide at what price to sell.

[kaloloy]

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?

In my personal experience, maybe some of the cases before I used to be trapped by FOMO but the problem is I don't have money, Bitcoin or Ethereum to invest on some altcoins that gained massive pump out of FOMOs.
this time, I should know that some altcoins do massive price value increase but we should be careful because in most cases, the group of Pump&Dumps are the responsible and people lost their assets out of FOMOs.

[kaloloy]

I once did fall into FOMO trap and lesson was learnt in a hard way. Currently, the price is gaining for some reasons. I'm thinking about selling some especially when things settle because I doubt that it'll be FOMO. Even then, it's still difficult to decide at what price to sell.

That's it, the best reference when altcoins are surging or gained massive pump is when there's significant progress of their crypto projects or products in line with their road maps.
most of the new altcoins today are having their own crypto projects so if some altcoins are pumping with no reasons it might be pumped intentionally by some Pump&Dump groups and people lose their investments when they invest out of FOMO.

[filipeandre]

In the beginning yes. But you learn how to surpass FOMO with the experience.

[vapourminer]

fomo (along with panic selling) is pretty much a right of passage in crypto.

i would wager most everyone on the forum has done one or the other (or both) at least once, and probably several times, in their crypto journey. i know i have.

takes a while to get a feel for whats real and whats not. patience is the key. risk tolerance is different for everyone. youll find a spot where youre comfortable.

[caisa88]

Yes, when i first started to invest in crypto i bought many coins because of FOMO. I was just seeing them rise and thought that it must be something special about that coin, but ussually it was just a pump and dump thing.

[bakujo0817]

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?

yes several times when i started on crypto investment without thinking when i see a massive pump i just panicking to buy but now i learn from my mistake before i buy a coin i usually read news first about the coin and studying the chart.

[voteformeg]

FOMO can work at several ways :

1 you are scared to not take part in the next bitcoin

2 you got 81000000 dcn , like me , and FOMO says that there are a lot off tokens , fomo told me to sell a big part at 1 satoshi , 2 weeks later bitcoin was 2x price and dcn was at 40 satoshi, so lesson learned never sell your coins or tokens

[BrentMack]

At some point but luckily I did not invest a lot of money but during the last bull market I saw a lot of people who went in way more than they could afford and in a couple of months they are coins were worth half the value of what they were bought in january

[Clement Kaliyar]

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!

I am in this market for a few years now and i wont just listen to anyone when it comes to investment, i will do my research and come to a conclusion before investing, when i came in the market it was difficult to understand what to invest as there were many coins and the hype sometimes get in the way, but i was lucky enough to invest when some of the major projects started like ETH Dash Monero etc and those investments were risky at that time but those gave me the best profits.

[ylnar123]

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?

That is the reason we should learn from the previous experience. Everyone joining crypto will experience FOMO especially those new comers with less or no experience in reading the chart and understanding on how the market moves.

[Bttzed03]

Yeah I did fell into fomo trap before especially when I was new and a more active day trader. I made losses and gains doing so. I am more of a holder now. It was a good experience.

[RicardoRicky]

yes, I experienced a fall with fomo, but still on other occasions I can still wake up to this time still survive. I thought it was a natural thing so I kept relaxing through it.

[NoSkyLimit]

well I did it first time I have heard about cryptos and after boom all went down but It was my fault to buy at that price without real knowledge about cryptos so I think I have learned my lesson about fomo.

[Psynthax]

FOMO can work at several ways :

1 you are scared to not take part in the next bitcoin

2 you got 81000000 dcn , like me , and FOMO says that there are a lot off tokens , fomo told me to sell a big part at 1 satoshi , 2 weeks later bitcoin was 2x price and dcn was at 40 satoshi, so lesson learned never sell your coins or tokens

Some times the future will not stratight with your prediction, dude. I have sold my npxs for 8x above the ico price and it's so difficult to do. As long as you have been securing genereous profit for the next time to trade and i guess that's not a problem at all.

[batang_bitcoin]

Haha. I still remember back those days that I have fall in this trap. I thought that I'm missing the party so that's why I don't care even the price was quite high and I can't read charts properly way back then but now it's all good that I've learned experience and lessons through it. Another thing is that I'm selling during the dip days because I thought it will fall forever so I'm sure that we all have mutual experiences about this matter. It's fun to remember but you have to learn from it.

[StarKay]

FOMO is the term used to describe a scenario whereby one rushes to buy a mooning coin/token so as to make quick gains only for the price to dip after purchase. If the aim was met then it can't be termed FOMO but smart trading.
When I purchased ZCL at over  $160 with an expectation to sell at around $200 before the fork, I watched the price dip to the point I was forced to hodl, that's a FOMO trap and I fell hard.

[Usui-Kun]

Crypto trading is about money though so you have to know what you are doing or what you are about to do. No just because of some influence or pressure that you should ignore the risks of investing or anything to do with risking your own money.

[PacePay]

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?

Yes I often invest in some coins which were rising much faster and higher on bittrex and in that coins I also gain a high level but for the gaining of more higher I lost a good opportunity and the price started to decrease and I lost a good amount in that trap.

[1020kingz]

Yes a lot of beginners and newbies fall in FOMO, As of me i personally fall for it. Because of the eagerness to gain profit, afraid being behind the waves of th price hike, i bought some coin that pump hard but in the end i loose my investment because it hardly falls down. Sometimes Fomo isn’t that bad but you have to wisely deal with it.