How to avoid falling into a FOMO trap

[DarkDays]

Personally, I avoid FOMO by simply avoiding investing in any cryptocurrency I hadn't already heard of before the hype started appearing. That automatically cuts out practically 100% of pump and dumps.

Secondly, I adhere to the 60/3 rule. If it is breaking news causing the price, I need to invest within 60 minutes to ensure I can still develop a nice profit, whereas if it's more than 3 hours after the news drops, I wait and watch to see how the market is acting before investing.

These have protected my ass on more than one occasion, though I've still held for too long far too many times.

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[xOdiumNostrumx]

Totally agree with a bunch of people above me, just ignore the market newcomers and you will be safe. Stick to already established currencies and face the fact that the times of 100x ROI in couple of months are probably over for good, so chasing the new hot thing would be way too destructive for your overall portfolio. You can still make big bucks investing in a lot safer bets.

[swivel1983@gmail.com]

In fact, with cryptocurrency, everything is not so simple and clear, and therefore it is impossible to completely avoid falling into the trap of fomo. You can't be sure that some coin will behave one way or another. Just if you want to buy something, then invest a small part of the funds so that you dont mind losing it in case of failure.

[Searing]

I am in HODL and accumulation mode since 2013 for the most part.

Thus, I am ALWAYS, in FOMO mode.

I have to be, or I would have sold all my BTC when it went 10x the amount I mined it for.

All HODL'ers are in FOMO mode. Fear/Of/Missing/Out.

If we thought, with only 3 million or so BTC left to mine, in a crypto-universe of, as I like to say, 'virtual land' that is limited.

Well, you have to be FOMO, or you sure as hell would not HODL since 2013, IMHO.

or my 'odd' take on such

Brad

[starblocks]

This is valuable advice because this is exactly what pump and dumps are designed to do which is generated hype with positive price action to move the market and then it usually experiences a steep decline in value after all the hype wears off, so scoop up undervalued assets whilst they're cheap and you'll likely benefit more

[gensol]

Avoiding FOMO requires some discipline and expertise. Discipline in trading entails a trader has a plan which he follows not taking trades along the line. Expertise helps to distinguish between what's real and what's not.

[kapalmabur]

Avoiding FOMO requires some discipline and expertise. Discipline in trading entails a trader has a plan which he follows not taking trades along the line. Expertise helps to distinguish between what's real and what's not.

it seems difficult to understand, we can't avoid FOMO, it's manipulation !, but if you buy cheap and the coin is exposed to FOMO then it has an increase you have to analyze it by determining the resistance you can read it and hopefully you sell it right

[NewRanger]

FOMO traps must be avoided so they are not trapped in them. when an altcoin is always in the positive news and prices continue to rise until it reaches the highest price, many people who want to follow it and believe it will go higher, this is what should be avoided. This will make FOMO even worse. If there is already a FOMO and is stuck at a high price, then when the price is down people who buy at a high price will experience a big loss. This FOMO occurs because usually a controversial statement supporting FOMO can occur. We must be wise in responding to something and not just join in.

most of traders lately entering market , they see price going higher and higher. Looking this movemennt they trapped in fomo and finally get price at the peak. To avoid this trap we have to regularly find an update from developers team in coins that we will buy, so we will not miss important news that will be trigger price movement. No more FOMO it we could do this strategy and our money will save from losses.

[andika2018]

Avoiding FOMO requires some discipline and expertise. Discipline in trading entails a trader has a plan which he follows not taking trades along the line. Expertise helps to distinguish between what's real and what's not.

it seems difficult to understand, we can't avoid FOMO, it's manipulation !, but if you buy cheap and the coin is exposed to FOMO then it has an increase you have to analyze it by determining the resistance you can read it and hopefully you sell it right

FOMO is sometimes not related to technical analysis, usually due to fundamental factors that are only for a moment. In my opinion, FOMO is more influenced by psychological factors and I think it's better to avoid coins that have suspicious price movements so that we are not trapped to buy coins at high prices

[Serco]

Avoiding FOMO requires some discipline and expertise. Discipline in trading entails a trader has a plan which he follows not taking trades along the line. Expertise helps to distinguish between what's real and what's not.

it seems difficult to understand, we can't avoid FOMO, it's manipulation !, but if you buy cheap and the coin is exposed to FOMO then it has an increase you have to analyze it by determining the resistance you can read it and hopefully you sell it right

FOMO is sometimes not related to technical analysis, usually due to fundamental factors that are only for a moment. In my opinion, FOMO is more influenced by psychological factors and I think it's better to avoid coins that have suspicious price movements so that we are not trapped to buy coins at high prices

its truelly has no relation with technical analisys. It just mind and trader psychology when they see suddenly price grow up. They thinking if they dont buy it , will miss best opportunity to get profits.most of coins influenced by hype and fomo, to avoid trapped in this condition we must deeply and regularly make research in crypo projects , so we will find which projects that will growth naturally. Market and trading manipulation common to happen now , and we have to be smart to identify it.

[ajeef]

Avoiding FOMO requires some discipline and expertise. Discipline in trading entails a trader has a plan which he follows not taking trades along the line. Expertise helps to distinguish between what's real and what's not.

TO avoiding FOMO we should have consistent and we have to determined where we gonna buy and where we gonna sell, so any fud or fomo will not affected us because we know when we buy and when we want sell.
It's not easy doing this moreover we see another coin which not in our trades growing and pump so high, we must be doubt our trades, but if we follow the wave like that we will trapped by fomo. So, be consistent is the key of avoiding FOMO

[RooseveltOah]

We kind of have to believe all the short term information available to public is already being reflected on pricing, if you really do have some kind of information that most people can’t get their hands on, then you can follow FOMO

[joshy23]

Avoiding FOMO requires some discipline and expertise. Discipline in trading entails a trader has a plan which he follows not taking trades along the line. Expertise helps to distinguish between what's real and what's not.

TO avoiding FOMO we should have consistent and we have to determined where we gonna buy and where we gonna sell, so any fud or fomo will not affected us because we know when we buy and when we want sell.
It's not easy doing this moreover we see another coin which not in our trades growing and pump so high, we must be doubt our trades, but if we follow the wave like that we will trapped by fomo. So, be consistent is the key of avoiding FOMO

Correct. Being consistent and know what you are doing will allow you to avoid certain fuds or fomo's that happened around. Knowing all the grounds
of your chosen project/s it will help you to understand when to buy and when to sell, anticipations is very important as it is a good guide not to fall
with any fomo's. Keep yourself updated and always think twice before dealing with any decisions that you will be taking.

[mamahdedeh]

Avoiding FOMO requires some discipline and expertise. Discipline in trading entails a trader has a plan which he follows not taking trades along the line. Expertise helps to distinguish between what's real and what's not.

TO avoiding FOMO we should have consistent and we have to determined where we gonna buy and where we gonna sell, so any fud or fomo will not affected us because we know when we buy and when we want sell.
It's not easy doing this moreover we see another coin which not in our trades growing and pump so high, we must be doubt our trades, but if we follow the wave like that we will trapped by fomo. So, be consistent is the key of avoiding FOMO

Correct. Being consistent and know what you are doing will allow you to avoid certain fuds or fomo's that happened around. Knowing all the grounds
of your chosen project/s it will help you to understand when to buy and when to sell, anticipations is very important as it is a good guide not to fall
with any fomo's. Keep yourself updated and always think twice before dealing with any decisions that you will be taking.

still difficult to know the mindset of the whales who make fomo or fud. but at least we choose a coin that has a good future. not all altcoin will be pumped up, and I think altcoin has the potential to experience it, because it attracts investors to invest. and vice versa we must anticipate the possibility of fud, and therefore we need a good strategy

[letyouearn]

The hardest thing here is avoiding those kind of thoughts like "hm, there too many people who think that everything is gonna be cool, they invest, they can't be wrong, there are too many of them..."
Dude, most of the people are making mistakes much more often than you think. Constantly.

[Aabcde]

Yes indeed the points above make sense. But sometimes people ignore it just for gambling. In the sense that they chanced in following the fomo. Because sometimes fomo isn't a bad thing either. It could be that fomo was created from good news on a project so that some people dare to spread it.
Fomo must indeed be addressed properly before plunging into it. We must first check whether this fomo comes from good news or only fake fomo.

[Exidous]

Avoiding FOMO requires some discipline and expertise. Discipline in trading entails a trader has a plan which he follows not taking trades along the line. Expertise helps to distinguish between what's real and what's not.

it seems difficult to understand, we can't avoid FOMO, it's manipulation !, but if you buy cheap and the coin is exposed to FOMO then it has an increase you have to analyze it by determining the resistance you can read it and hopefully you sell it right

FOMO is sometimes not related to technical analysis, usually due to fundamental factors that are only for a moment. In my opinion, FOMO is more influenced by psychological factors and I think it's better to avoid coins that have suspicious price movements so that we are not trapped to buy coins at high prices

Every market will have FOMO news that directly affects people's psychology and this is inevitable when you choose to invest. I think if you are holding some big coins since 2017 then you are making a huge mistake. For now, you should only trust yourself and should evaluate that coin with your knowledge. Of course this will greatly reduce the risks in trading.

[CryptopreneurBrainboss]

Firstly, the most important thing here is how an Investor can identifying if a recent spike in price of a project is just a paid hype to create FOMO probably by developers to dump tokens on the greedy Investors hoping to capitalize on the spike to make some profit. Identifying this trap are quite easy as the movement of the price of each project tells a story. A healthy growth of a project concurs gradually but an unhealthy one can be identified with a spike which is mostly cause by whales or group of pump and dump traders manipulating the price of that project to draw attention to it.

Did a post sometime ago on; qualities worth developing as a crypto enthusiast (Investor). been skeptical was one project of those qualities as developing that will guide you in regards to trusting any project to fall for FOMO traps, understanding the reason behind those spike and not just blindly chasing them is a great way to avoid been a victim.