blckhawk
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April 24, 2021, 02:11:07 PM |
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FOMO is one of the big enemy that needs to be conquered if you want to succeed in trading and investing. alot of people usually neglect investing at the early stage but only wake up to join the train when its halfway or near the destination. the oppression from friends and mates is also one of the things that make people fomo. thats why its always important to keep your emotions under control. dont be oppressed by anyones profit, you will make your own if you do the right thing. i read comments from lots of traders that are lamenting of their loss because of fomoing to buy the top. one important thing to always remember is that there are alot of opportunity, all you have to do is to find them early and buy into them.
Well to be honest it is easier to say than to be done because usually when a person especially those who have weak hand place in this kind of situation where everything is dip it would be hard for him to control his/her emotions and this could end up making a worse decision which is panic selling or buying. And usually, those newcomers are the ones who always experiencing this one but I can't blame them though because it is part of their learning to grow. Anyway, FOMO and FUD are some of the hindrances why traders lose their money, the only thing we can avoid this is to be knowledgeable and gain more experience.
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taufik123
Legendary
Online
Activity: 2576
Merit: 1790
Rollbit.com | Crypto Futures
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April 24, 2021, 04:01:32 PM |
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For now many are stuck due to the big dump that happened to BTC and following other things with altcoins, by buying above because of their ignorance maybe this is the cause of getting stuck and they will panic seeing this because it might be FOMO too. You can say that ELON is the cause if we are dependent on it, this is a little difficult when trapped and it must be learned that FOMO can keep us trapped for a long time and like now no one knows when to recover because of a large enough drop but like it. the correction will take a little longer to reach the highs again.
Their ignorance leads them into the FOMO trap they don't want. even when the price starts to fall and continues to fall they panic too much and choose to sell even though they have to suffer a loss. some people love FOMO when they already know what they are doing. FOMO has both big advantages and disadvantages. To reach a higher price, it will indeed take a long time. Because after the FOMO occurs, it will experience a downtrend and last a long time. All you need to do is be patient enough until the price returns to normal or buy again with the spare money you have.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | │ | 1,000x LEVERAGE | │ | COMPETITIVE FEES | │ | INSTANT EXECUTION | │ | . TRADE NOW |
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randegibran
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April 26, 2021, 02:42:11 PM |
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I faced frustrated after my altcoin selling price suddenly pump and happen just now, I sell ONE or harmony coin but few minutes after my selling filled price pump, but its better because I have waiting longer time for selling this coin. I hold more than few days and price ever dump extremely when bitcoin price dump.
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Iceblast
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April 26, 2021, 02:51:33 PM |
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FOMO is one of the big enemy that needs to be conquered if you want to succeed in trading and investing. alot of people usually neglect investing at the early stage but only wake up to join the train when its halfway or near the destination. the oppression from friends and mates is also one of the things that make people fomo. thats why its always important to keep your emotions under control. dont be oppressed by anyones profit, you will make your own if you do the right thing. i read comments from lots of traders that are lamenting of their loss because of fomoing to buy the top. one important thing to always remember is that there are alot of opportunity, all you have to do is to find them early and buy into them.
Sometimes someone follows in the middle of investing because they have to take time for them to believe that the investment chosen is correct and matches their criteria. so it requires analysis for investment so as not to get stuck on FOMO
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Mauser
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April 26, 2021, 02:52:48 PM |
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FOMO is one of the big enemy that needs to be conquered if you want to succeed in trading and investing. alot of people usually neglect investing at the early stage but only wake up to join the train when its halfway or near the destination. the oppression from friends and mates is also one of the things that make people fomo. thats why its always important to keep your emotions under control. dont be oppressed by anyones profit, you will make your own if you do the right thing. i read comments from lots of traders that are lamenting of their loss because of fomoing to buy the top. one important thing to always remember is that there are alot of opportunity, all you have to do is to find them early and buy into them.
I agree, being involved at the early stages of a coin can make a huge difference in profits. Jumping on the train after others already bought in just means we are following the herd. I would compare the beginning of a crypto coin to a stock IPO. In most cases the stock prices jumps upwards after the IPO because more investors want to invest. This is similar with new promising crypto coins.
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Pokapoka124
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April 26, 2021, 02:57:43 PM |
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Nobody is an expert at trading. Even though we like to share our winnings more than our losses. There are good times and then they are bad days. How you deal wit :'(h the bad days is what matters. Trading is like the game of chess. You need to have a strategy you're confident will work for you. And also have alternatives in case things don't work as planned you're not left in the wind. Failure to do so can be catastrophic
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Julien_Olynpic
Legendary
Online
Activity: 2492
Merit: 3252
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April 26, 2021, 05:19:55 PM |
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Topikstarter correctly noted one of the main reasons for FOMO - neglect of investing in crypto projects at an early stage. But many people in the crypto market are simply not investors. They are not even traders, but simply gambling addicts. For them, the most important thing is play, strong emotions and thrills. These are adrenaline addicts. As a bonus to their passion, there is an occasional profit, sometimes very large. But most often FOMO is accompanied by losses due to an unsuccessful entry point and not knowing how to exit a position in time.
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Yatsan
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Leading Crypto Sports Betting & Casino Platform
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April 26, 2021, 11:38:16 PM |
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We all do have our time where we will get our success. If you are not still there, do not get pressured of what other people have already attained because time will come that you will tag along with them once you get into your success. Do not let other people to dictate you on what you supposed to do because you must be the one to decide on your own considering not to let your emotions drive the way you decide for there is a potential that you might just mess up once you do mix emotions into trading as well as into investment. Keep your composure to make good decisions and strategies that will suit your needs.
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tygeade
Legendary
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Activity: 2156
Merit: 1059
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April 27, 2021, 06:19:26 AM |
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I faced frustrated after my altcoin selling price suddenly pump and happen just now
It happens; we cannot do anything about that. It would be too hard for professional traders to catch the exact market turning prices. What we need to do here is, we must calculate our profit level from our buying price and we do not bother whatever things happening in market after our exit. If you start watching market even after your sell, then you cannot focus on other trades which will lead to double losses (considering you are missing your future profitable tread as well). Keep your composure to make good decisions and strategies that will suit your needs.
Yeah, we should not let our focus disturbed by other external things. Only when we are not bothering or not listening to noises, this will be possible. I referred FUDs and other unwanted things as noises.
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Scripture
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April 27, 2021, 06:23:33 AM |
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Nobody is an expert at trading. Even though we like to share our winnings more than our losses. There are good times and then they are bad days. How you deal wit :'(h the bad days is what matters. Trading is like the game of chess. You need to have a strategy you're confident will work for you. And also have alternatives in case things don't work as planned you're not left in the wind. Failure to do so can be catastrophic
How you handle yourself can be a good key for you to succeed in trading, every traders losses their money because there's no way for you to totally beat the market. FOMO is not good, you can lose money if you do get hyped by anyone and if you see the uptrend because of FOMO. Losing money in trading is fine, as long as you lose based on your analysis because I know, you'll rise again after that don't just trade because its trending today, trade like you'll conquer the market, do your best.
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SacriFries11
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April 27, 2021, 12:59:57 PM |
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I faced frustrated after my altcoin selling price suddenly pump and happen just now, I sell ONE or harmony coin but few minutes after my selling filled price pump, but its better because I have waiting longer time for selling this coin. I hold more than few days and price ever dump extremely when bitcoin price dump.
I've been in that situation when I sell my token then the price goes up but I just move on and realised that profit is profit I should not be greedy. I just proceed to another trade. I think you can sell some of the portion of the token you own just to know that you have already gained profit about and then you can buy again if the price goes down. I also believe that FOMO is one of the time that traders need to control, most of the traders especially newbies are doing in and it ended up losing their money. Traders should take it seriously and if they ride when the market is bullish they also need to realise the consequence of their action.
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Alert31
Member
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Activity: 1041
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Trident Protocol | Simple «buy-hold-earn» system!
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April 27, 2021, 03:23:08 PM |
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I faced frustrated after my altcoin selling price suddenly pump and happen just now, I sell ONE or harmony coin but few minutes after my selling filled price pump, but its better because I have waiting longer time for selling this coin. I hold more than few days and price ever dump extremely when bitcoin price dump.
That's normal scenario in trading but you should hold your emotions. Even me, already experienced that, but I just told to myself that don't be greedy as long as I take profit, that's enough. If you trade, just think positive always, if the value of your coins in trading dump, it will surely pump again but it depends on what coin you have traded.
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randegibran
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April 27, 2021, 05:36:56 PM |
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I faced frustrated after my altcoin selling price suddenly pump and happen just now, I sell ONE or harmony coin but few minutes after my selling filled price pump, but its better because I have waiting longer time for selling this coin. I hold more than few days and price ever dump extremely when bitcoin price dump.
That's normal scenario in trading but you should hold your emotions. Even me, already experienced that, but I just told to myself that don't be greedy as long as I take profit, that's enough. If you trade, just think positive always, if the value of your coins in trading dump, it will surely pump again but it depends on what coin you have traded. Just how to control emotion when start selling or buying coin, many trader looks faster for selling coin but many of them looks late for take profit, they think coin keep growing up until hold and coin dump. The best thing for me sell after raise profit without any planning with coin up or down, but when have correction time I can buy back again.
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FanEagle
Legendary
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Activity: 2912
Merit: 1120
Leading Crypto Sports Betting & Casino Platform
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April 28, 2021, 05:54:50 PM |
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The best thing for me sell after raise profit without any planning with coin up or down, but when have correction time I can buy back again.
You sound like you are continuously trading but most people here are making use of altcoins for one time trading and to get profits. But within that one time of trading, they might be hesitating to catch a right selling prices because of greedy they keep waiting for some more time but market may come down and then they need to wait for infinitely. At the same time some people go for selling straightaway when they see some profits for their holding but later on they start regretting for their quick selling when market keeps going up (this is what exact situation of most dogecoin holders right now).
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randegibran
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April 28, 2021, 10:39:58 PM |
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Lest move with shit coin listed on pancake to trade now, you can get more than 100x but if you lucky and have best time for entrying, how ever bigger risk waiting for there because my friend with small fund only $10 can earn more than 1 bnb for profit. but many time I try my fund gone because coin can't sell again.
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Distinctin
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April 28, 2021, 11:12:54 PM |
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Emotions are hard to control in reality, some say it could but that was just a hearsay's, nobody could even tell himself that I'll be consistent in doing this.
Frustrations are just the result of our bad actions. We keep blaming ourselves (or someone) because of the mistakes but I don't think this is a good idea. Instead of blaming ourselves, why not make this a reason to educate ourselves and be cautious for the next decisions. If we wanted to improve, then we also to accept that sometimes we lose.
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Kong Hey Pakboy
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Merit: 68
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April 29, 2021, 06:06:02 AM |
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Emotions are hard to control in reality, some say it could but that was just a hearsay's, nobody could even tell himself that I'll be consistent in doing this.
Frustrations are just the result of our bad actions. We keep blaming ourselves (or someone) because of the mistakes but I don't think this is a good idea. Instead of blaming ourselves, why not make this a reason to educate ourselves and be cautious for the next decisions. If we wanted to improve, then we also to accept that sometimes we lose.
We are an emotional species, that's why it is bard to control and our progress as a civilization is slow. To me, FOMO is mitigated if you don't talk a lot about a certain cryptocurrency to invest in, just get in and buy and hodl and that's it. The problem with blaming ourselves is a lot don't see it as a learning curve.
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Alisha-k
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April 29, 2021, 07:44:04 AM |
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The market remains open to everyone and there is no such thing as a wrong time to invest or been late to investments. When ever an individual gets knowledgeable to join the crypto space and decides to take advantage of the inventory that's his own perfect time and he / she also gets his RIO when due
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poodle63
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April 29, 2021, 09:29:56 AM |
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Nobody is an expert at trading. Even though we like to share our winnings more than our losses. There are good times and then they are bad days. How you deal wit :'(h the bad days is what matters. Trading is like the game of chess. You need to have a strategy you're confident will work for you. And also have alternatives in case things don't work as planned you're not left in the wind. Failure to do so can be catastrophic
The saying nobody is an expert itself is wrong, there is an expert and there's a trading noob. The trading noobs are those who easily get fomo'd by people thinking he gonna miss the opportunity meanwhile the coin he's about to buy already high enough it doesn't make sense to buy but still buying anyway. The expert needless to say always gather information, make decision based on that + analyzation and not easily get fomo'd just because some stranger say that coin is good or this coin is good. The expert's financial decision also entirely made from his own judgement aswell and not just following what other people saying. As a proof you can see why there's succesfull traders who's portfolio is so good they always score huge profits.
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tvplus006
Legendary
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To the moon
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April 29, 2021, 10:37:31 AM |
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This is because of the seasons we have been experiencing in crypto that we begin to think of buying before the bear market comes. And then we are not able to identify exactly when the bear market will start and that's when the real problem starts as well. Because when you suddenly dump thinking the bear market had come already but you suddenly see the price went up after dumping. A big loss once again.
Now we are in a bull market and, accordingly, all coins in the future should increase in price. If you are not sure that you can sell at the maximum and buy at the minimum, then you just need to hold your coins until they reach the price at which you want to sell them, otherwise you will lose them.
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