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

[Fredomago]

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.

Many unaware traders falls from this scheme, whales and pumped groups are good in playing with traders emotions, with such increase they easily been moved to ride in.

It's the very common thinking that buying in such rush will benefits them and will not let them left behind, those who able to buy then sell as quick as they can will bring home the bacon, while those who are slow and greed will lose a lot.

You need tp be quick if you are riding with the fomo's the ride will be sort so know
your stop point and bring something to your investment.

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[GreenStox]

because most people get a loss when Fomo occurs, let's say some people buy when a coin has been pumped very high.
and they say that the coin is bad because it does them a loss, but not if they can control themselves and read the charts before buying.

[AndRE177]

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

It's hard to spend time studying a project when you see the chart moving up. If this growth is from 10 dollars to several thousand, then many people do not think and immediately throw their money into the project. Personally, I have made one important rule for myself that it is not worth investing in highly popular coins, because they can go down at any time, as it was not so long ago with YFI.

[sana54210]

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.

The fomo is created by those people who buy high and sell low. When something goes up 50% they suddenly got a lot of excitement over what that has already happened, they will write everywhere like "will bitcoin be 1 gajillion dollars!!!" and whatever which will create a huge FOMO. I personally do not think that any increase should be stay away deal, sometimes prices go up and follow that up with another going up, but why risk it? Buy stuff when they are low.

However what people who do FOMO and lose money defend themselves with the fact that when bitcoin goes down you can buy it and go up, but when some weird altcoin goes down it may actually stay low for a long time as well, because it is altcoin and it could never go back up if it is a scam altcoin so they try to get in whenever they can.

[xiboothrezi]

Friend, fomo is still not a good thing for us because it will gives profit for some certain people only.
It became a method to pump and manipulating the price of the coin and this is not healthy, but it is only my opinion though.
I prefer to buying some good coins than some coins that having fomo.

what is clear is that don't just get carried away with emotions when trading or investing, it can mess up the analysis, so you tend to decide to buy or sell just because of fear (FOMO). Doing deep research before trading and investing is very important, it can provide the right timing to enter and exit the market before any losses occur. Meanwhile, when fomo, we only do activities based on the flow, we can drift away and don't have full control, luck might be there if you can get out before it's too late.