Why FOMO isn't as bad as people make it seem.

[odukoyaewatomi27]

The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.

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[seleme]

The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.

This definition has called a "catching a falling knife" by traders and pro traders know the right time to accept the loss. Cutting the loss is the job of an experienced trader, only new traders prefer to HODL until the market colour turns to be green. There is no formula to find the bottom or tops, we just make guesses and if the majority of guesses are correct then the profit will follow. Catching a falling knife will hurt the hand of inexperienced traders because they don't have gloves aka stop orders but pro traders can repeat this well-planned money management for getting the higher profit from the mentioned type of sentimental trades.

[serjent05]

The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.

This is quite too far from the title.  I was expecting that you explain why FOMO isn't that bad and yet I just read that you are advising people to buy low and sell high.  As the way I see it, FOMO is really bad because it takes away our sense of reasoning and most people that fall into FOMO often at the losing end.  The problem with buying at the bottom and selling at the top is that we never know when that will happen.  Even people that is so brilliant with TA cannot predict precisely the bottom and the top of the trade.

[akram143]

FOMO isn't that bad simply because it can leads you to be in profits sometimes but not every time so its more like how early you enter into the ship and exit at the perfect time before it gets drowned.But there is no other reasons to call it as good, and even you are manipulated so don't become someone who make decision for other's profits.

[Bitbtc8]

I will like to make a contribution about the topic, FOMO isn't actually bad if the project is a high quality one, there will always be a room for more growth, but it's also better to get in real quick and judge from the exact ICO or IEO price, I remember DIA, I got in at 2.33$ when the bull started and it keeps surging, i sold at 4$ each and wait for price dump, always expect price dump from any new altcoin no matter how strong they seem, price will surely dump, take your profit and wait to see what happens

[H1N1]

Well, that is not wrong. FOMO still can makes you gain profit indeed, but the profit usually comes from the loss of late buyer. 
When the FOMO ends, people who bought late will unable to sell it higher than they buying price, this is of course what we don't want at all.
My conclusion is, FOMO is good for early buyer, but it is bad for late buyer.

[crwth]

The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up.

I disagree with this because you could definitely always buy at the bottom and sell it at the top but the challenge is when you will buy it. This should already be a common rule for everyone. If you check all the charts of the coins, there would always be a lower low and a higher high. What you would do as a trader is when you are going to trade, what indicators tell you to trade, limit positions, limit risks, and many more. It's not going to always be about FOMO, it's about being smart with what you are trading.

[Coin_trader]

How FOMO(Fear Of Missing Out) related on the content of this thread. You will FOMO when you see a certain currency pump and FUD when the price dump. If you know Technical analysis, You can easily determine whether the current price is already at the bottom or not, well you can't buy at the exact bottom price because its very hard to determine but you can enter a position that close to the bottom.

The reason why newbie traders got trapped on a fake out is because they didn't know how to use indicators that can help them to determine the range of how far it can go down. Normally they buy when they a long red candle without considering the volume and charts on the long time frame.

[ichsan ardi]

all must have their own risk i think if you want to play at a safe point then I think you better invest in GOLD

[ecnalubma]

The loss of others is profit for some, that how the market works. FOMO’s are driving the market more exciting, but to avoid heavy losses stop buying bad coins and secure buying Btc or top coins in the market who you think that has potential.

[bitmover]

The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.

Fomo makes people do things which are irrational and more risky than necessary

Try to buy real assets which you dont need to buy dips and sell pumps. Buy a little from time to time and try make a good dolar average price...

Try to predict the market is crazy.

[thenextking]

The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.

I don't see this post have anything to do with FOMO

[Sebas.tian]

all must have their own risk i think if you want to play at a safe point then I think you better invest in GOLD

When you have several opportunities from whatever sourcs you choose especially when talking about cryptocurrency, this industry is the best for now IMO. When getting into cryptocurrency you should ensure to make good used for your time, mostly that which will help in getting to showed

[Baofeng]

The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.

Who says it's bad? The problem though for those who FOMO is that they don't know when to exit and take the profit because FOMO won't last and the price won't go on parabolic rise. That's why many noobs got burn during the last 2017 to early 2018 because they think that the market will bounce when all signs are saying that we are going on a downhill. FOMO is good, but you have to have some semblance of control and always keep your emotions check.

[jossiel]

The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.

You said it right.

Most of the new coins, if you have bought it, usually it's already the top of it and then the next thing that will happen is mostly a dump. The dumping of most investors that bought it during the sale is about to happen.

All of them will be chasing for the profits and wouldn't actually care with the vision that project has. This applies for most new projects with or without potential. Lucky if the project has the potential as it can recover afterwards but mostly don't.

[TastyChillySauce00]

It can be applied for any major coins. It's not only getting limited into the ethereum bitcoin. All of the coins with proper development progress have the same chance to be used as an investment.
Buy bottom and sell at pump. It sounds very similar to the buy when there's a lot of FUD to the project and sell it at when there's a lot of FOMO.
Any legit investment will have the same pattern and we can use that strategy too.

[Kopetunto]

indeed for me Fomo is also not bad, because Fomo can make money easier,
have you missed the Fomo that happened in the Defi sector ?,
you can very easily have 2x advantages in Defi, but now it looks like Fomo Defi is slowly disappearing.

[Danslip]

indeed for me Fomo is also not bad, because Fomo can make money easier,
have you missed the Fomo that happened in the Defi sector ?,
you can very easily have 2x advantages in Defi, but now it looks like Fomo Defi is slowly disappearing.

Defi markets are not recommended if the OP is newbie or simply have less experience in this field. After the Uniswap craziness, many things have changed in favour of scammers and they look for the new blood in the DEFI markets. Don't simply follow the crowd, make your own choices separately and smartly.

Like in other financial markets, there is no reason to buy the dip points blindly. The bottom is not the bottom of the trend, the entry price can look like a bottom but the time will show the trader the truth. Major altcoins also have the dip points but catching the dip points is very hard for the inexperienced traders. Having experience will lead to cut the losses if the trader is wrong.

[Botnake]

The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up.

True, they are already tested through time therefore you can trust them.
ETH for example which has dumped below $100 many times already, but it is still recovering, so if you had that timing you will definitely be profitable every time it bounces back.

But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.

As what I know, majority of the coins are scam or some has less potential, so if they dump, there's a huge possibility that they will not anymore recover, so it's nice to stay away from them if you can't take the risk, only high risk takers can do that, or they call themselves as a gambler because they are willing to take that high risk, however, if that will succeed, that's big money in return, so really up to you as there are still a lot of good coins with huge potential even if it's new.

[pixie85]

The simple rule is "buy at the bottom and sell at the top". But i don't think this applies to all coins, it only applies to solid coins like bitcoin, ethereum and the likes, because they have stood the test of time and would surely find their way back up. But most of these new coins, if you buy at the bottom, the price might still go lower and keep you trapped there. so it is better to wait and see a clear move up before you get on the train to avoid fake outs.

I don't see this post have anything to do with FOMO

Correct. The topic doesn't get followed by the post.

FOMO is always bad because it makes you forget what you were supposed to do. If you're uncertain or fearful don't trade!

Buy at the bottom sell at the top applies to every single tradable asset not only top cryptocurrencies! You don't know what you're talking about OP!