FOMO is not good at all times!

[flemmings02]

Buying a coin or Investing in public or private sale because of the FOMO (Fear of missing out) has led a lot of persons to bankruptcy or debt, It is advisable to miss out than to lose your money.

[Canoppo99]

Im doing day trading in a big and very popular exchange. when im starting to trade in the particular token. the green candles is going crazy filling up and because i was not ready at that time i feel the FOMO thats why i buy too until my internet connection has a problem thats why its lagging. for a minute when i refresh it. the price was dump already and followed by red candlestick i was left a bag holder. since i have no choice i have to sell it at losing price. ive learned that FOMO was not good at all times. What are causes of this??

Day trading is not a good way to earn money. The risk is too big but usually expert traders choose day trading strategy because of flexibility. But the bad side of daytrading is more than it's good side. Not only FOMO but also addiction because of curiosity and dissatisfaction will make your physical and psycological condition is weakened. I suggest you to do trading normaly so you can avoid FOMO.

[Sri rahayu]

It is a disease that you must treat when you see rising prices, feeling like wanting to take part in getting a big profit. that is why you feel Fomo, I learned to avoid the fomo disease by leaving the trade when the price rose higher.

[styca]

Yes FOMO is never good, equally neither is panic-selling. If you are trading it is always sensible to plane your entry and exit points before starting. And it is also important to understand why a coin is rising or falling in price. That way we can improve our decision-making.

[take_off]

Im doing day trading in a big and very popular exchange. when im starting to trade in the particular token. the green candles is going crazy filling up and because i was not ready at that time i feel the FOMO thats why i buy too until my internet connection has a problem thats why its lagging. for a minute when i refresh it. the price was dump already and followed by red candlestick i was left a bag holder. since i have no choice i have to sell it at losing price. ive learned that FOMO was not good at all times. What are causes of this??

FOMO follow your trading very easily cause big losses, try to think if you trade 10 orders, take profit 9 orders but loss only one order. The order you loss maybe high than profit you take on 9 order before

[btccrusher]

So you are considering price difference in minutes? It's not wise. You should consider at least a week's price to make a clear chart of candlesticks or trendline fills. Usually, I use 2 methods, 1. 24 hours forecast and 7 days forecast. Most time I see good result in the 24-hour chart. So, FOMO is good for most of the time.

[imstillthebest]

So you are considering price difference in minutes? It's not wise. You should consider at least a week's price to make a clear chart of candlesticks or trendline fills. Usually, I use 2 methods, 1. 24 hours forecast and 7 days forecast. Most time I see good result in the 24-hour chart. So, FOMO is good for most of the time.

theres nothing wrong  with that if he check the price every minute  . he is just active like me i also check and compare the price difference  . if ever i find a good oppurtunity i will decide if i sell or buy  .  24hrs forecast is also better if you find your self a little busy   . 7 days forecast can be good for those who are verry busy people  .  fomo is good for us but we should choose the right kind of coin so that we can get a benefit and not lossing .

[SirLancelot]

FOMO is never friend to any trader, I see FOMO as in fact the greatest enemy of progress to most investors and traders, that red candle sometimes is even friendlier than the green one, because without the red candle, you cannot make much profit. I stop trading temporarily on a daily basis too when I started seeing that FOMO is more common with people that trade on a daily basis than people that trade on weekly, monthly or a long-term investment.

I think because there is really not much time to study the candles, which is why most day traders end up being a victim of FOMO. Secondly, when trading, one has to be extremely patient, and not have it in mind that you want to make the money you will make in a year in a day, greed sometimes leads to FOMO which eventually makes one loose his or her trade finally.

[SistaFista]

Im doing day trading in a big and very popular exchange. when im starting to trade in the particular token. the green candles is going crazy filling up and because i was not ready at that time i feel the FOMO thats why i buy too until my internet connection has a problem thats why its lagging. for a minute when i refresh it. the price was dump already and followed by red candlestick i was left a bag holder. since i have no choice i have to sell it at losing price. ive learned that FOMO was not good at all times. What are causes of this??

Unfortunately that was only a temporary pump and dump scheme in exchange.
You need to stay calm if you see a coin/token pumping. If it was a real price, then it would stay long in green.
Same with panic selling, some peoples trying to make the price dump so they can buy with lower price.

[sheenaedago]

Simply make sure to purchase when it was plunging and not siphoning. That's not about fomo but rather you are setting aside the off-base effort to get, you are really purchasing when the cost is getting siphoned and after that you are getting dumped after the whales have made a bulltrap.

[Caishen_Project]

The truth is fomo to me is not really a good thing, last year December I fomoed on a project because they are about to move from ETH chain to their own mainnet, I didn't know about it on time so I bought like 2 hours to mainnet launch, it's dipped from 0.9 USD to 0.4 within 5 minutes after mainnet launch, presently the price is 0.05 USD and I automatically turned to a bag holder of the project. So fomo is not really good

[anexxty009]

Lol, which means it can e beneficial at some instincts, I clearly then can say that it has its good days and let's just know that nothing good stays forever, there are always downside of every good thing and vice versa

[Deallove9]

Fomo i s real and if you must be a day trader then you have to know the TA and always learn to use stop loss limit in other to catch the fish on time rather than having a lost bird .

[r32godzilla]

Many people are gambling in a time of FOMO. They see only green numbers, so they start with longs, after that they come to the leverage trading and first correction will destroy the trading account.

[zenhu]

Maybe whales did spread FOMO to people from telegram channel like crypto trading prediction. Their admin just posted to buy 'a' coin but they already sold their token, its mean the subscriber just buy their token. Its trap, be carefull if you read prediction price.

[aemma]

Fomo is never good nor offers anything other than the person turning to a bag holder. The first thing to learn about trading is always to be contented with any profit made while overlooking the anticipated profits thereafter. It might looks silly but that's the best way to curtail loss.

[Lawrenzoo]

Fomo is never good nor offers anything other than the person turning to a bag holder. The first thing to learn about trading is always to be contented with any profit made while overlooking the anticipated profits thereafter. It might looks silly but that's the best way to curtail loss.

In businesses like this trading, gambling and the rest, everyone cannot be a winner, someone must loose for someone to win. No matter what you preach about fomo, it is bound to always happen, because this is one of the factors that makes that profit gainer to be able to make profit. As fomo is bad to you, so it becomes profitable to some people, the people it becomes profitable to are those who does not fomo and those who are able to buy at dip.

Imagine when people bought bitcoin at $5k sometime before the last bull run, and whales pumped the market to surge a little bit, without fomo, those who made profits from that $5 to $5k would not have gained, and maybe by now, we would not have even had record of that $19800, it was out of fomo that the price pumped, so it is left for a particular trader to trade wisely and choose where he or she will faller. Is it the winning side or the losing side?

[bering]

Often too see people being an FOMO but indeed everything will be so hard if we trapped on that positions and i says this because me too several times was being FOMO with eventually i have to sold my coins to avoid deep lost but actually what tokens do you have because if your tokens have potential to grow might be do not rush to sell and hold much longer until wait the price bounce back can save your money

[Smokey23]

FOMO is absolutely one of the worst reasons to enter a position. It is inherently motivated by Fear which puts trader-a-la-extraordinaire on the losing side to begin with.

[andrew_92]

Yes, FOMO is a huge problem for me when I doing day trading. Sometimes I cannot resist to sell my assets when its price goes up. I have read https://blog.thepeak.world/5-tips-to-avoid-failure-in-cryptocurrency-trading/ and it helped me a lot to fight FOMO.