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

[VDraci]

I've make good money through FOMO on few coins but lost more, what I've learnt so far about FOMO is never jump into any new projects especially if you have no knowledge about what the project is all about, beware of pump and dump coins because they create the most biggest HYPEs around the web

[acdc]

As soon as I read the title I thought you would say something about FOMO, however you are talking about buying at the bottom and selling at the top. Of course, every investor wants to do that, but it's very unlikely to happen.
As for FOMO, for every investor in this market it's a bad thing and everyone wants to stay away. To be successful, you need to invest based on your decisions, not on market trends.

[Pamadar]

I've make good money through FOMO on few coins but lost more, what I've learnt so far about FOMO is never jump into any new projects especially if you have no knowledge about what the project is all about, beware of pump and dump coins because they create the most biggest HYPEs around the web

Correct! new projects mostly being played by developers and some whales behind,
if you will take your chance better to make sure that you have good knowledge in
order for you to enter and exit in the right timing.

As soon as I read the title I thought you would say something about FOMO, however you are talking about buying at the bottom and selling at the top. Of course, every investor wants to do that, but it's very unlikely to happen.
As for FOMO, for every investor in this market it's a bad thing and everyone wants to stay away. To be successful, you need to invest based on your decisions, not on market trends.

Every investors who experienced bad things with foming inside the market, leaned things in the hard way, you
should always balance everything before taking any decisions, fomo is not good as the percentage of risk is far
higher than the chance that you'll be able to compensate.

[qomariah95]

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 believe what you say. Because some time ago I experienced something like that. If it's a new project, that can't be true. Because what happens is when the price is below. that doesn't mean we can go in and invest, because what happens after that is the price continues to fall and fall.

[barbara44]

I could not relate the OP with the topic at all but let me give my honest opinion about FOMO and how it can be good and disastrous for people.

A new token comes into the market and you invest because of the FOMO (fear of missing out)

1- The token actually had a solid plan and you make the decision of your life and make millions

2- The hype was fake which is usually the case and you lose all the money you invested.

I was once a victim of FOMO and I bought a big amount of Coinstarter token because that time it seemed like it will be huge and they had a solid plan and enough marketing to trap investors. But after investing I had sleepless nights because the token never got up to even 80% of expected value and I had to sell them at a big loss.

[aemma]

Your title do not relate correctly with your write up, but to start with it first, FOMO is not encouraged in any way and many atimes it has been proved to be bad; well this is my opinion.
Secondly, you are right with your post about most coins. Buying Bitcoin and Ethereum most times comes with no problems or worries about when the price dumps, and if it will rise again, this has happened many times and those who bought low smiled at the end. But in the case of new projects, it is never advisable to buy at the top or even what we might thought to be the bottom, many people who did this regretted a lot, therefore just like you suggested, one need to be sure of the team's plans and the movement of the price before buying. On the other hand, most new projects, once you sell at a good price it's better to just move on and remove the idea of investing again.

[disconnectme]

I think I understand what the OP is trying to say, he/she is talking about riding a trend, it is true we can not fight a trend, in a bull market waiting to buy the bottom will make you lose on great gains, but the most important  thing when buying these tokens is that you are comfortable holding them because some of them might not perform the way you plan

[AndRE177]

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.

Trading little-known coins is very difficult. Because their price is most susceptible to manipulation by big-money players. They can throw a few million dollars into creating a hype around one of the weak coins, they will start buying it, the price will rise quickly, which will arouse the interest of other people. When people start buying this coin EN masse, the big player will sell them all their coins and leave. Because of this, the price will fall forever and will no longer grow. Such situations are quite common.

[Danslip]

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.

Can you pls explain why you have chosen another question as a title and explained another thing? Maybe I didn't understand the meaning of the question but other users also have asked similar questions too. The FOMO has no relationships with buying low and selling high, AFAIK. Price traps can be found on all charts without paying much attention but FOMO is totally different edition version of super high demand by investors during bullrun.FOMO is about the not resisting yourself to buy more while the buying low-selling high is a brick of trading profession.

[Adreman23]

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.

Agreed, but i think it also happened in bitcoin,ethereum or to all coins in general specially on bear market when all coins are on downtrend position. When you bought at the dip thinking that is the buttom but the price still go lower,  so it is better to do when the price of a coin you want to buy is in downtrend dont use your all funds to buy all at once  better to buy it slowly and small amount like 25% of your funds per purchase.

[xZork]

I've make good money through FOMO on few coins but lost more, what I've learnt so far about FOMO is never jump into any new projects especially if you have no knowledge about what the project is all about, beware of pump and dump coins because they create the most biggest HYPEs around the web

Yes, most cases of getting into FOMO on new projects lose all of their money. New projects are difficult to get back to their original prices, most new projects devalue until they become a pile of trash.
You have the good fortune of having FOMO on big and prestigious projects, my advice is if FOMO is on new projects get out of it as quickly as possible.

[Reid]

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.

Been there. Way back in 2018.
Forgot the name of the token.

Bought like 200k in amounts of the token because it's cheap. Suddenly it fell down really crazy.
It became dust. 
After that, I started to just stay with the trusted coin. Don't want to experience the same hell again.
Even though it's cheap, that's still money that could have been bought for another coin.

[tbct_mt2]

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.

You accept risks and join FOMO parties. Good or bad it depends on each time you join FOMO party and how soon or late you join it. With FOMO parties, the later you join them, the higher risks of losses you will get. FOMO parties never last too long.

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.

Buy the bottoms, sell the highs and make a schedule when you will make your sellings. Your plan and your patience will help you get profits if you buy at good price (should be at bottom). Sad to say, even if you buy at bottom, you still can get losses if you don't have enough patience and shake your weak hands before the days your investments turn to be profits.

[Mpamaegbu]

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.

Bitcoin and ETH won't give you the type of ROI those 'untrusted' altcoins will give if they were to later succeed and not disappear. I guess this is the reason traders take the risk investing in them.

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.

Honestly, I don't know which is better; FOMO or FUD? But I think while FUD saves you from incurring losses but preventing you from making profits and a good ROI, FOMO gives you that anxiety to buy on impulse and possibly record losses and regrets. You know, when YFI got to over $30,000 traders chased the price up to $40,000+ because of FOMO. Now YFI is trading below $14,000. Those who bought ATH are still licking their wounds from that action. The same thing happens to those who bought Bitcoin at ATH in 2017 and Bitcoin is yet to revisit the $19,000+ ATH till date. I rather fall a victim to FUD than to FOMO.

[Mulann2]

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.

Yes, certain strategies only applies to solid project otherwise if you apply this to shit coins you will definitely get rekt in the process, it is better to watch that new coin closely for sometime and see the market behavior before you can decide, especially when the team are actively developing the project, most new project don't worth the trouble, the developers are also short-term seekers so once they hit their target they stop developing and that will be the end of that project.

[int03h]

FOMO offers a better price for any asset. The higher the peak, the higher the bottom, the effect of FOMO.
Most people buy and sell according to technical analysis, price model, I think that's better than FOMO. In the Crypto market, where more than 80% of projects grow through marketing, the actual value brought about by cryptocurrencies is very small and only a handful of projects are useful. Consider qualitative and quantitative rather than stupid advertising.

[Mighty_crypt]

FOMO is like a tool, it can easily manipulates you in the wrong way or in the right way, it's left for you, if any project has a strong FOMO it's your duty to do deep research first, don't care about missing out or not, this will safe you from unthinkable losses, FOMO is as bad as good as it is, be wise

[slashz9]

fomo will make people forget and will go with the flow even though it is very unlikely to be followed.
when there is money on a coin and it has experienced a high increase of up to more than 50% in 1 day there will be an idea that the coin will still move up.
when in fact it does not necessarily increase and tends to fall after the increase.

[ven7net]

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 agree with you that it is easier to invest in cryptocurrencies that are already established in the market, and even if their price goes down, then after one thing it will return to the previous positions and become higher, it's only a matter of time. There are many questions about new cryptocurrencies, especially those whose prices are growing rapidly, and I would not invest in them. But not all new cryptocurrencies are dangerous to invest in them. For example, there are those who have their own working product and their growth is conditioned. I believe that you need to invest consciously and not rush so as not to lose your funds.

[MadeMen]

In this space, its virtually impossible to know the exact time to buy. Some persons prefer buying low and selling high, but atimes the value of the tokens may be on the verge of extinction and buying low could make one a bag holder of shit tokens. There's no doubt that atimes, this strategy could make one earn maximum income because the project may recover from her depression and face the moon. In every situation, its best to invest only what you can afford to loose.