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

[Wapfika]

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.

Fomo might be good for others and may be bad to those who have long term plans for their holdings but due to Fomo they were tempted to buy DeFi projects as many shows they were able to earn more from it. Those who have extra money to invest will not be affected but those who have limited might be a victim of these Fomo and may invest in a scam project jaut because they just want to join the hype, as long as they know what their doing and able to adjust in the market it's good to follow FOMO but if its a fast decision without thinking where to invest exactly then it can cause problem after.

[StephenJH]

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

FOMO and the golden rule of trading are not the same, looks like OP has missed the point here. Anyway, the lower the trade has bought the altcoin, the more profit will flow the balance of trader. Money management directly depends on the entry-exit points, so buying low turns to be the advantage of a trader. The problem is many traders don't have an idea of how to find the correct top/dip points, they lose their balance in a short time manner. Money management and lack of trading experience are the two main skills they need in the crypto markets.

[Gotumoot]

FOMO isn't bad as long as the price would continue to rise up when you bought it but most of the time the FOMO buyers are buying it on the near peak price so most of them are losing instead of earning profit.
I have earn from feeling it both FOMO and FUD I was once saved because of FUD I was planning to hold some alt-coin but due to some news spreading I decide to sell it and later on the price crash down.

[maydna]

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.

That rule is the basic rule in trading, but unfortunately, many people don't follow the rule because while they trade, they see the price start rally and touch the high price. They become greedy and don't want to close their trade, but they want more profit, which is not always happening. Instead, to sell at a high price at that moment, they are still waiting for the price to increase higher, and what they see in the next minute is the price is back to the low price, and they lose that opportunity.

It is why you need to have a target sell price and place an order sell, so when the price can touch your target price, it will automatically execute the order. Using that, you don't miss the chance to sell at a high price, and you can wait for another opportunity to buy back the coin. If you are afraid because the price can go down for more, you need to split your order buy into a few orders, so when the price down, you can still get the coins at a lower price.

[lienfaye]

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.

Well it depends on the coins that you're going to invest in.

If you chose new coins then its better to buy once the price is going up, its a good timing to join the hype, however new coins are much risky compared to old coins and majority of them are just a pump and dump scheme.

On the other side when it comes to well-established coins buying because of FOMO is not a wise idea. If you have knowledge about the coin and its past history then you'll understand how it works.

[gaston castano]

the point is the right timing when you want to enter and exit and actually it doesn't matter what coin as long as you can pay attention to market movements and predict it correctly I think your chance of winning on each transaction can exceed 70, so if you trade 10 times you get 7 times profit.

[tsaroz]

When people talk about trade, they do talk about legit coins that have probably would exist for a good time in future.
But again trading is also a game with the numbers, what people say might not always be what people do. You should listen to everyone and try different things to find what suits you the best. If everyone follows the same strategy, it would not be profitable anymore.
Investing on pump and dumps and ponzis are a different thing and would be considered more a gambling than trading.

[Francis Freeman]

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.

Probably you seem to have a different definition of FOMO. Como is generally used in the sense that you know that the coin is over valued but you still end up buying it thinking you may not have the chance to buy.
It is often created by social media hype. Just have a look at the farming tokens and the people who fomoed into it.

[Samayuki]

Your best bet is Bitcoin, even if you buy high you will have the full confidence that it will recover someday, why? Because Bitcoin is here to stay and it's the strongest, unlike new altcoins that can fade away in just few years, I'd create room for FOMO if it's from Bitcoin

[Valzador]

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.

Following the FOMO hype is not wrong, but you have to think before purchasing because if you are trapped, then you will lose. Follow the Fomo that just happened. For example, yesterday, filecoin was accused of being a scam by Justin. Then you have to quickly short 1-2 minutes after the news of the scam accusation out. In essence, you have to understand a good time to buy.

[shoreno]

but you didnt explain why the fomo isnt bad , what you explain instead is buying low selling high  . you dont need to include new coins on your explanation because you said old coins are only applicable on the buy low sell high principle . back to fomo , fomo is not bad if done right  . whenever there is decline in btc or even if there isnt , people should do fomo on it buy buying btc's.  not only this works better on btc but it can also be done on other solid coins . fomo on reverse is the one that is bad to do because it leads to losses for both the coin user and to the coins ( coins drops in value )

[LogitechMouse]

First of all, the subject title isn't related to the OP's post that it makes the readers confused.

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 might agree with you with this. Those trusted coins will surely go back up since it is a cycle. It will go down then it will go up then down then up.
Buying at the bottom and selling at the top is easy to say but in reality, even the professional traders don't even know which is the bottom of it. The best thing to do is to have a strategy and plans that will help you when to buy and when to sell and not buying the bottom and selling at top because it is very hard to predict.

[chikator]

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.

Traders should know when to buy or to sell and own up to it. But the thing is, no one actually "knows", specially with coins so volatile. I still wouldnt blame traders who buy because of the fear of missing out tho, after all, if they took the chance, they might also profit from it.

[Novatech8]

It's still about winning and losing, sometimes FOMo helps and sometimes they are bad news, I suggest doing research on the project first before joining the FOMO, most projects are simply pump and dump so you need to be very careful, research should come first

[MCDev]

The majority of newcomers fall to fomo after which they will try to hold on to wait for the price to rise again, which is the way to go wrong.
Many garbage projects after falling will never be able to return, if you fall on fomo you should try to get out of it as quickly as possible.
In the end I think that FOMO is not good for investors, it's best to make your own judgment, not invest according to the trend of the market.

[alicea]

The reason why is FOMO is bad sometimes because it leads to buy high sell low situation instead of buying low sell high that can lead to excessive loss which happened to me quite a bit during my early crypto days lol.

FOMO can be good (sometimes) but FOMOing on already 200% up projects can be bad IMO.

[Distinctin]

The reason why is FOMO is bad sometimes because it leads to buy high sell low situation instead of buying low sell high that can lead to excessive loss which happened to me quite a bit during my early crypto days lol.

FOMO can be good (sometimes) but FOMOing on already 200% up projects can be bad IMO.

Often to happens when we are buying during the coins when seeing the price started to pump and if we tried to analyze it, definitely dumps will follow right after the surge. This scenario is not new to us, we already knew this since before. And it is a big mistake but somehow many were still not able to catch it and learn. That is why I'd never wanted to read the news, FUDs could start FOMO, and people started to get crazy once the drops started and immediately sell their cryptos.

[alisonwonder]

The reason why is FOMO is bad sometimes because it leads to buy high sell low situation instead of buying low sell high that can lead to excessive loss which happened to me quite a bit during my early crypto days lol.

FOMO can be good (sometimes) but FOMOing on already 200% up projects can be bad IMO.

when you already know that there is a FOMO which has an influence on the price movements of a coin, then my advice is not to enter and participate there because it will make you stuck on that coin and of course some time in the future the price will collapse and become cheap again due to price movements what is generated from FOMO cannot guarantee that it will keep going up.

[tvplus006]

...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.

In any case, it is better to get a small profit than a big loss. Therefore, an experienced trader will not try to buy a coin at the very bottom, because it can still lose more in price. It is easier to wait for confirmation when a reversal formation occurs and the coin begins its upward movement.

[masterrex]

Mate, I'm a little bit confused with the Thread title, But it's okay I can handle it, by the way, let me take my opinion about it, FOMO means "Fear of missing out", in reality, the FOMO in the crypto Industry brings some bad for others, and bring some good for the others also, But there was no FOMO that begins with the lower bottom as you said, All FOMO events are driven the coin/token price upward, because of the fake demand created by FOMO from unsuspecting investors/buyers. that was my opinion.