"FOMO"and "FUD" has always been (and always will be) a part of the cryptocurrency ecosystem. The way it’s dealt with needs work, a lot of work.
Why FOMO & FUD are Both causing danger?
How to escape FUD and FOMO to peace of mind?
In order to get over the sensation of FOMO/FUD and to avoid becoming beneficial bait and getting misused in market, you should follow some tips below:
1. To keep yourself consistent with what you’ve planed: if you’ve been identifying the point, let be patient to wait for the price in true time to get into command, don’t try to buy while it’s out of your plan.
2. To perceive that the market brings you many chances: market is such a place which provides you lots of chances for earning money, if you see that your coins got down on FOMO and raising a too big price, you’d better to be out of this place.
3. To cut losing in true time: if you was in FOMO and got exhausted, you shouldn’t be afraid of cutting losing, these will help you keep your capital and going on finding another opportunities.
4. You should remind yourself that benefit is not intended for all: benefits of this man will be the debt of anothers. While you jump in a coin which is getting FOMO, you’ve just ceded your successful chance for another.
5. Money from the one who are lack of patience, will send to the patient: to remind this will help you get away from FOMO & FUD impacts.
6. To determine your investing style: You are a day trader? a short-term investor? or a long-term investor ( holder)? If you do a day trader, you will get profit in any direction, including rising and falling market. Probably you can get benefit quickly. Though investing for long or short term, however, FOMO & FUD both bring you harmfulness as well.
7. To manage your capital efficiently: the way you devide your capital and administer your capital efficiently will help you minimize the drawbacks that FOMO & FUD have caused. In addition, if you have positive management, your benefits may get stable, and FOMO or FUD will not take any affect to your decision anymore.