FOMO

[Gost ms]

So tell me, what do you think? Do you think FOMO contributes to the downfall of investors in the market or it's just a mere coincidence that do happen without any cause?

Well, if you have a specific and backtested trading system that tells you very clearly when to enter and when to exit the market, then even if the price of a coin increases at a rocket speed, you will not have any FOMO. The problem is not FOMO itself, the problem is when we do not have our own rules and we just follow it blindly by seeing the green candle on the chart.  So there is no point in blaming FOMO or the market, it is most important to work on your own emotions and risk management. The crypto market will show you stories of someone becoming a millionaire every day, but whether you fall into that trap and empty your pockets or remain disciplined depends entirely on your own system.

The more you dey train yourself the better for you because e no easy at all, so many persons no actual get the sense say the crypto market na volatility na full am and all this dips and dumps wey dey happen for the market na something wey supposed to say happen and their is actually no need for an alarm or cause to panic so why the big wait and rush to sell off when the market don dey dip.

Especially the Bitcoin market is very volatile. There are many coins in the market that have similar prices, but the Bitcoin market is very volatile and it is not easy to predict what its price will be. However, there is no reason to worry about market volatility. Because the Bitcoin network is so strong that everyone has now adopted Bitcoin to protect themselves from security and inflation.

However, yes, a new person will be afraid, it is very natural, but it is not natural for him to be so afraid that he has to sell his holdings. Initially, a person can start investing with a small amount and gradually deal with the volatility by seeing the volatility of the market. When he is able to deal with the volatility, he can gradually increase the amount of his investment.

[Plutomanian]

Especially the Bitcoin market is very volatile. There are many coins in the market that have similar prices, but the Bitcoin market is very volatile and it is not easy to predict what its price will be. However, there is no reason to worry about market volatility. Because the Bitcoin network is so strong that everyone has now adopted Bitcoin to protect themselves from security and inflation.

However, yes, a new person will be afraid, it is very natural, but it is not natural for him to be so afraid that he has to sell his holdings. Initially, a person can start investing with a small amount and gradually deal with the volatility by seeing the volatility of the market. When he is able to deal with the volatility, he can gradually increase the amount of his investment.

FOMO should be handled properly. Who's scare of the market? Because for me, the market down wards and upward movement no longer freak me and it's understandable how we will be able to dwell on our tactics. Dealing with the boating volatility of the market, one need to keep his head up high and know the basis of the market because without little favors, how are we going to ensure the market bearing when it comes? As we're trading, we're also learning because the slightest means of maintaining stability should be cruel and also smooth on our very end.

[OsaiEmma]

Well, it's been up to 3 years since I've overcome this mole in the market, it has completely nothing to offer other than the disability of the mind,

So tell me, what do you think? Do you think FOMO contributes to the downfall of investors in the market or it's just a mere coincidence that do happen without any cause?

Congrats OP for overcoming this. It takes only experience before one can come to a state of not reacting recklessly to FOMO.

Although , FOMO have helped me once. It was when I was trading actually. What happened was, I saw a good setup, I panicked and placed a long trade immediately, surprisingly it went well. But I've lost more than I profited when I reacted to FOMO.

So with time, I too had to be looking out for this. I no longer easily give in to FOMO, but to take my time to analyze and scrutinize my trades before placing them.

[Yorubek]

Especially the Bitcoin market is very volatile. There are many coins in the market that have similar prices, but the Bitcoin market is very volatile and it is not easy to predict what its price will be. However, there is no reason to worry about market volatility. Because the Bitcoin network is so strong that everyone has now adopted Bitcoin to protect themselves from security and inflation.

However, yes, a new person will be afraid, it is very natural, but it is not natural for him to be so afraid that he has to sell his holdings. Initially, a person can start investing with a small amount and gradually deal with the volatility by seeing the volatility of the market. When he is able to deal with the volatility, he can gradually increase the amount of his investment.

FOMO should be handled properly. Who's scare of the market? Because for me, the market down wards and upward movement no longer freak me and it's understandable how we will be able to dwell on our tactics. Dealing with the boating volatility of the market, one need to keep his head up high and know the basis of the market because without little favors, how are we going to ensure the market bearing when it comes? As we're trading, we're also learning because the slightest means of maintaining stability should be cruel and also smooth on our very end.

Of course, due to the volatility of Bitcoin, nothing can be said for confirm about its price, but by managing investments in a systematic and consistent manner with a long-term plan and holding them patiently and confidently for the long term, the possibility of making money increases. It is true that by investing and holding them patiently for the long term, the possibility of losing money is relatively reduced and valuable money can be protected from inflation and there is a possibility of making profit in the long term.

[samadam007]

It takes only experience before one can come to a state of not reacting recklessly to FOMO.

Although , FOMO have helped me once. It was when I was trading actually. What happened was, I saw a good setup, I panicked and placed a long trade immediately, surprisingly it went well. But I've lost more than I profited when I reacted to FOMO.

So with time, I too had to be looking out for this. I no longer easily give in to FOMO, but to take my time to analyze and scrutinize my trades before placing them.

Experience alone doesn’t fix mistakes like FOMO.
You were lucky with that one FOMO trade but you still haven’t learnt the real lesson. You said yourself that you lost more money than you made from FOMO. Being lucky once doesn’t make it a good idea. Even traders with years of experience still lose money the same way.
Instead of rying to time the market with trades, just focus on DCA investing and hold long term. This way you remove FOMO and emotional decisions because you don’t need to monitor the chart anymore.

[cxtreenal]

So tell me, what do you think? Do you think FOMO contributes to the downfall of investors in the market or it's just a mere coincidence that do happen without any cause?

I think FOMO is mostly responsible for the crypto market crash. If a large institution decides to sell due to financial need and it is publicized on social media, it creates instability among investors. As a result, selling pressure starts to arise in the market. Those investors think that they will lose their capital, but they should have remained patient and held on to their holdings.
Many investors make selling decisions due to wrong information, which is responsible for the market crash. It is necessary to make investment decisions after verifying what is wrong and what is right, because many groups are active in the crypto market to create instability in the market by spreading wrong information.