FOMO of bull market

[irhact]

We both miss coins that once made us experience multiple profits, but I'm sure as long as crypto can still be traded, it's not too late to try again, even though it definitely happens on a different coin, at least we still have the opportunity to gain multiple profits in the future. I am enlightened on several coins, for now more on WLD and OGN coins. two of my favorite coins that are suitable for saving for the future.

WLD have been doing well, I don't have the coin but I receive notifications from some exchange that I have their apps of the coins increasing. Just like wld, other coins will rise as the fomo of the bull market comes but we have to try to avoid scam coin as they'll become many in the market. I have some coins that I have been monitoring and those are the ones I'll be investing into while I trade the rest as they begin to attract interest from investors due to the bull market.

I don't trade with leverage of 10x, that's too risky for me and I might lose everything in my account if I try it. I trade on the spot market were I can buy a coin and if I didn't see a good price to sell and be in profits, I can hold the coin until the market is bullish again then I sell and make profits. Newbies shouldn't be using too high leverage when trading, we shouldn't be greedy and want to make all the profit.

[1714683470]

1714683470

[1714683470]

1714683470

[1714683470]

1714683470

[1714683470]

1714683470

[wxa7115]

Prices are still distant from their past all time highs and this is the reason many individuals are convinced that the market remains a good buy.

But futures trading is extremely dangerous and requires accuracy in dissecting the market. FOMO cannot be applied to futures trading. This is different from the traditional manner of investing and trading where we can plan to do it long term and with longer time frames. To be safe in futures trading, put a limit and use a small sum of money. Using 2-4x leverage is tolerable but a 10x trade possessed risk of liquidation.

Most of the time we get some temptation, and we then fail. Most of the time we move away from the usual things we do had also create additional experiences that will teach us, and this is what happened to OP and those who tried 10x leverage. Sometimes we think that trading needs some luck, like gambling. That is why most traders choose to stay 2-4x leverage because even earning just a small amount but at least the risk is manageable enough. But most of us wanted instant, aiming more which usually ends in losing more.

Unrealistic expectations are often more damaging to a trader than a poor strategy, and that is because often enough a poor strategy can be improved upon with the right amount of effort.

However unrealistic expectations are very hard to change even if you were to show those traders that there is no way to achieve their goals, and often enough the only way those traders are willing to change those expectations is when reality has hit them so hard they have no option but to admit they were wrong all along.

[EarnOnVictor]

Prices are still distant from their past all time highs and this is the reason many individuals are convinced that the market remains a good buy.

But futures trading is extremely dangerous and requires accuracy in dissecting the market. FOMO cannot be applied to futures trading. This is different from the traditional manner of investing and trading where we can plan to do it long term and with longer time frames. To be safe in futures trading, put a limit and use a small sum of money. Using 2-4x leverage is tolerable but a 10x trade possessed risk of liquidation.

Most of the time we get some temptation, and we then fail. Most of the time we move away from the usual things we do had also create additional experiences that will teach us, and this is what happened to OP and those who tried 10x leverage. Sometimes we think that trading needs some luck, like gambling. That is why most traders choose to stay 2-4x leverage because even earning just a small amount but at least the risk is manageable enough. But most of us wanted instant, aiming more which usually ends in losing more.

Unrealistic expectations are often more damaging to a trader than a poor strategy, and that is because often enough a poor strategy can be improved upon with the right amount of effort.

However unrealistic expectations are very hard to change even if you were to show those traders that there is no way to achieve their goals, and often enough the only way those traders are willing to change those expectations is when reality has hit them so hard they have no option but to admit they were wrong all along.

There is nothing better than having a plain mind of neutrality with the market while trading, anything other than that will only push the trader into doing what he is supposed not to do, and the end result will be losses. Trading is more of a psychological business that needs more of expertise and plans rather than any expectations. Traders should be neutral and make sure that they have their working system that will do the work, and when the system is productive enough, there is no way the trader will not be making money and be fine. But for those who use the expectations to affect their trading psychology, there is no way emotion will not set in, and with the expectations to be precise, it often causes greed at first. Again, when the greedy trader is rather losing, that will graduate to revenge trading which will now ruin the account of the trader. Recovering from this takes time which is why it is good to avert it from the onset. Above all, we need to manage our trades, our accounts and ourselves, all these three make a good trader once the trader already has all that it takes. This is why FOMO, FUD or any iota of anxiety should be avoided, but the trader must only embrace professionalism and discipline.