FOMO In Crypto; How to identify It

[Becky666]

Sometimes you just have to move along the fomo line with good reasons. FOMO can be more rewarding as we know, the more the risk taken the more the reward. Trading is all about risk and fomo is all about risk too; either to positive or as negative. Few weeks ago I saw KAVA on Binance and did a little research to discover that they were upgrading so I went into the market and bought, few hours later the price pumped and I sold out my portfolio, later that same day the price of KAVA moved unbelievable and I lost out. How I wish I waited for the right time. 

[bitgolden]

How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.

I'm not sure about self-evaluating these four things will be helping me not to get into FOMO. Because these are not seeming productive enough anyhow to help me to avoid FOMO. Do you have any other technically findable method so that we could avoid FOMO? Simply I do avoid getting stuck into higher prices following bollinger bands; when market is trading around over bought zone, we must avoid buying.

In my opinion psychological approach against FOMO will not be effective because you will assume whatever favorable for you. Moreover getting stuck on FOMO with bitcoin investment is most common here because if you wait you will get profits out of bitcoin investment so usually people here never mind to go FOMO with bitcoin investments.

[sheenshane]

Dont worry about the FOMO, it is always there and natural reaction of some traders. Ain't saw FOMO is become a problem, IMO. For me, FOMO is just like your body telling you to place a trade, and risk isn' t knowing how to set a stop loss.

You can ride with no fear on that pump and dump with perfect timing, it a sort of like a gamble in trading. The more risk you give the more possible profit you will take. But stick only to the coin that has potential value, because you can avoid the rabbit hole of FOMO and ask yourself if you're really missing out or just an emotion.

[rathaha10]

FOMO implies Fear of Missing Out. This is a serious issue when it comes to crypto trading and it has at least happened to you in crypto before because we all dont want to miss out and start regretting later. The crypto market remains young and unstable hence the price of most coins largely depends on how many people believe in their potential

How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.

As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.

In as much as the term "fear of missing out" FOMO is popularly used in crypto market, it is applicable in virtually every market as well investment options, no doubt FOMO is really a bad investment habbit and that's why majority of investors/traders run on losses because they seems to be investing when the market is green and the pump is in sight. I've always hold Warren Buffet's way thats say " Be fearful when others others are being greedy and be greedy when others a being fearful and this strategy has been working quite fine for me

[Lizzylove1]

Most times I don't jump into a moving train but when the coin has great fundamentals, I just jump in, and with my 2 eyes open should there be a price reversal and I don't buy coins that have excessively moon it can be suicidal. For Bitcoin, I can do any FOMO and still will be safe.

[cheezcarls]

When I was a newbie back then, I’m actually sold to Bitcoin FOMOs (especially ICOs). It’s why I have diversified to buy BTC and some other coins in various ICOs in order not to miss the FOMO moment.

Now that I have learned the hard way, I would rather change my mindset to a long-term holder. Like I do not care if the price plummets anytime, because I always know that the price would go back up again. If I want to buy more, I always hope for the price to take a nosedive and reach support level based on instincts and analysis from the other traders.

The market is so unpredictable right now, and I don’t do FOMO anymore. If I want to invest and trade in a certain project, there are many factors that I need to learn and analyze, and to make sure that I’ll be having a long-term mindset of the coin or token.

[Kelvinid]

FOMO can be triggered anytime, things can't be explained. Should we need to stop FOMO and not get into it? I hope everyone could master this thing and outplay the said FOMO.

https://www.psychologytoday.com/us/blog/stronger-the-broken-places/201501/10-ways-overcome-fear-missing-out

People who usually ride on the market during the bullish will something got into FOMO and sell their coin immediately. That's usually it happens to an emotional trader and likely to keep thinking about worries ( what if?).

[Dhoe]

FOMO often happens for those who do not do their own research or analysis on coins to be traded. But for those who always do analysis first, we can prevent FOMO by not being careless or in a hurry. In trading, you need to be relaxed and calm, don't panic.

[durilup]

I my opinion 'fear of missing out' starts when more and more influencers talk about cryptocurrencies on online streaming platforms such youtube,twitch etc.

[iv4n]

I my opinion 'fear of missing out' starts when more and more influencers talk about cryptocurrencies on online streaming platforms such youtube,twitch etc.

There's the problem, many people talk about crypto, but crypto is not one coin! There're many coins, tokens, platforms, you name it... and after some time you find that it's perfectly natural to miss some good coins, some tops where you could sell and make huge profit and buy back again when the price drops.
Crypto is so big that even if you want you can't be involved in every project, you can't have all the coins. Simply it's too much, too many wallets to organize, to many things to follow, the price volatility. When many people speak about some project it's good, that can be a good motivation for you to check that project and if you find it attractive for investment just do it and hope for the best, but never believe blindly in anything, is it a group or a single person, do your own research and make your own decision.

[rexxarofmoknathal]

If one is particularly susceptible to FOMO then let me tell you that having this ideology is bad. The reason I think this is that not only you'll be bad for trading but  liable to anything else based on erratic changes. Its a difficult one to come out off but it is possible, and the way you can do that especially in trading is to train yourself, and only chose projects/platforms or whatever you're involved in where you are 100% certain that that is the right approach for you. In this way you can at least think that you did the best you could at the time and not have your brain overanalyse things for you -> FOMO.

[el kaka22]

As long as you do your research on any project you want to invest into (or a big coin) you can't fall for FOMO. FOMO is when price goes up too much too quickly and if it is going up that means you should not be buying. If you think the right moment to buy something is when it is going up, you should not be in the trading world neither.

The right moment to buy something is when the price bottoms out, now you may not know when is the bottom so you may purchase at a wrong price but that is fine, however when it is going "up" that means it is not at the bottom is it? It means it is literally the opposite. So, that is why if you want to stay away from FOMO all you have to do is stay as further away from increasing coins as you can and take a look at bottomed out small losing ones.

[BitcoinTurk]

As the crypto money markets are more active and volatile than other markets, I can say that the investors here have made more panic decisions. Especially in case of a possible positive environment, many small investors are acting with the fear of missing the opportunity and as a result of this situation has been damaged. It should not be forgotten that there are always opportunities in the crypto money markets and it is not possible to catch all these opportunities. For this reason, instead of pursuing the immediately occurring opportunities, we should be careful to act with the right moves by identifying the right opportunities instead of losing to FOMO. I repeat, the opportunities never end in the crypto money markets, so do not be a victim of FOMO while trying to evaluate every opportunity you see.

[Mahanton]

As long as you do your research on any project you want to invest into (or a big coin) you can't fall for FOMO. FOMO is when price goes up too much too quickly and if it is going up that means you should not be buying. If you think the right moment to buy something is when it is going up, you should not be in the trading world neither.

The right moment to buy something is when the price bottoms out, now you may not know when is the bottom so you may purchase at a wrong price but that is fine, however when it is going "up" that means it is not at the bottom is it? It means it is literally the opposite. So, that is why if you want to stay away from FOMO all you have to do is stay as further away from increasing coins as you can and take a look at bottomed out small losing ones.

Come to think even on bitcoin itself, lots of people do get caught on the FOMO thing.Its still hard to spot it out even if we do rely into the most trusted nor supported coin here on crypto.
Always put up in mind that sudden big rise up in price would really give that doubt in mind that you should really taking off or selling for profits rather than considering on buying
just because you dont like to miss it out.In most cases then people who do have this kind of buying behavior will surely end up on getting stucked on holding when the price
had crashed down to the opposite path.

[Kasabus]

FOMO often happens for those who do not do their own research or analysis on coins to be traded. But for those who always do analysis first, we can prevent FOMO by not being careless or in a hurry. In trading, you need to be relaxed and calm, don't panic.

FOMO are mostly happening in newbies because they can be easily lured by those coins that have made significant surge even in a short period of time and without doing proper analysis. Emotions are our best enemy in trading and if we do controlled by it, we cannot do anything good in trading but mostly fall into losses.

[spike420211]

I my opinion 'fear of missing out' starts when more and more influencers talk about cryptocurrencies on online streaming platforms such youtube,twitch etc.

The beauty of FOMO is that to rock the situation it will be enough to create the right news background.  
This is a favorite technique of scammers that simulate various distributions of coins on behalf of media persons and large YouTube channels.  

Ordinary people fall into a completely obvious trap, pure speculation.
Imagine what will happen to people if real market movement joins the news background.  

This is how whales make money.

[MCobian]

I agree with the 4 points mentioned in the opening post about identifying FOMO, and sadly, I am among those who have
do it. Therefore, when trading we must be able to control emotions, so do not be influenced by others. Actually if we are
can be calm and not easily panic FOMO can be avoided, but sometimes human forget themselves.

[stomachgrowls]

I agree with the 4 points mentioned in the opening post about identifying FOMO, and sadly, I am among those who have
do it. Therefore, when trading we must be able to control emotions, so do not be influenced by others. Actually if we are
can be calm and not easily panic FOMO can be avoided, but sometimes human forget themselves.

Being calm sounds too easy but when you are on the actual situation then it would already be hard for you to control ones you are there but

somehow with due experience you would eventually be aware if the price is already on the FOMO side.Profits will vary on how you do act with it.

FOMO often happens for those who do not do their own research or analysis on coins to be traded. But for those who always do analysis first, we can prevent FOMO by not being careless or in a hurry. In trading, you need to be relaxed and calm, don't panic.

FOMO are mostly happening in newbies because they can be easily lured by those coins that have made significant surge even in a short period of time and without doing proper analysis. Emotions are our best enemy in trading and if we do controlled by it, we cannot do anything good in trading but mostly fall into losses.

This doesnt only affect newbies but even veteran ones due to normal human instinct and being too emotional.I can say such thing yet i've experienced still these kind of scenario
in spite on having that sufficient awareness on how market works.

It all matters on how you do handle out and be cautious into your actions.If you do see that the price is already at its peak then why would need for you to buy or position in?

[crzy]

I my opinion 'fear of missing out' starts when more and more influencers talk about cryptocurrencies on online streaming platforms such youtube,twitch etc.

The hype is very powerful and that can affects the emotion of every investors. If FOMO kicks you in, then it will be hard for you to get out of that trap. I experienced this one and the result is bad since I lost all my money because of FOMO and besides its not really good to buy during pump. Don't FOMO, just know when to buy and sell and you'll be good.

[Saisher]

There are also times that being FOMO is positive; high-risk high reward.
You entered a trade on the top but you still can profit it, just like riding along with, that's why it is a risk. It's like catching a falling knives if you enter a trade because the reason is just a FOMO.
But I saw some traders who tried to make profits on it, they entered a FOMO trade but they exit in after a short period of time or once they already in profits.

These are the people who already made a research they knew that this is FOMO and will not last long, they next an exit point before the dump begins and once they exit in profit they never look back, some do this in new coins market, every new coins are hype for people to perceive it as the next FOMO.