Illuvium: GameFi or ScamFi?))) Chart looks good. Time will tell if there will be another dive or not. If this was the bottom, then we are in for a quick rise. RR 1:1000 lets go😂
Fomo
Bitcoin (BTC) in Critical Consolidation PhaseMarket Observations:
Despite good news and rising equities, CRYPTOCAP:BTC is consolidating and moving sideways, which isn't a strong sign for bulls.
Key Levels to Watch:
Support Level: $60,000 – This level must hold, or BTC could move towards the downside.
Breakout Level: $62,500 – A clean break above this level would demolish the bear thesis and likely trigger long FOMO in the markets.
Current Market Range:
BTC is still in a massive range, similar to summer 2023. If the fractal pattern follows, this accumulation phase could continue for another 35 days.
Market Outlook:
Stay cautious as BTC consolidates, and keep an eye on the key levels that could determine the next major move.
#Bitcoin #BTC #Crypto #MarketAnalysis #TechnicalAnalysis #Cryptocurrency #SupportAndResistance #Consolidation #FOMO #Fractal #Accumulation
Price levels that induce Fomo #1These price levels are dangerous for retail traders. They are highs and lows of price strucutre. They are walls where price has bounced mutlitple times. They are prices where some traders may begin to chase price in attempt to catch the trend and not miss out. At the same time, they provide great entries for mean reversion traders. Watch and Learn and safe trading.
BTC Potential Buy SetupExpecting BTC to move from here?
Even though we might still expect a more complex correction , an up move is imminent from here
Lets see how it goes.
Bitcoin - The Marco MazeHistory doesn't necessarily have to repeat! I see a lot of history based derivation for the timelines and price as to when and how high or low bitcoin can sore. As exciting and adrenaline pumping as these ideas seem, the outcome will just be as good as any coin toss! The truth however is the "macro maze" above. I've taken sensible assumptions to derive on the timelines and humanly possibe price floors and ceilings! In this environment sensible assumptions can easily turn out to be the most major blunder, so as I always say, please do your own analysis!
How to read the chart? It's quite simple, red is resistance or sell, green is support or buy. The intersections are where Bitcoin's price would likely be attracted to. There is no saying with precision when and where it would be. Kinda of like the Schrödinger's cat, you will only know when it happens. Anyone who says otherwise has a 50/50 chance of being right. Now, are you a trader or a gambler? Stay safe, peace out!
Disclaimer: These are not trading signals. Trade at your own risk!
FOMO and reactions in the marketThis is a typical example that triggers FOMO.
We set an Exit 1 and 2 and course gave us a waterfall on Exit 5 or more immediately.
if you are not careful Fear Of Missing Out will hunt you with those kind of examples.
When market shows you, you could have been greedier.. "could have" is dangerous. Because on an Exit 1 and Exit 2 results can be measured.
Don't let this hunt you <3
Top 3 Tips on How to Avoid FOMO Trading (Fear of Missing Out)Here you are, casually sipping your coffee and watching the clock go by while you wait for the market to open so you can buy a few shares of your new stock pick. Remember, you chose that one after deep research and careful planning.
And then “ WHAM! ” Twitter notifications start flying. GameStop (ticker: GME ) is once again rocketing to the moon after some livestream on YouTube unleashes a huge buying spree. “MUST. GET. IN.” — you, probably, after you get your emotions shaken and stirred by something called FOMO.
🔔 What’s FOMO?
FOMO is an abbreviation for Fear Of Missing Out. This little four-word phrase can throw your investment rationale, thesis and analysis out the window so it could settle in your prefrontal cortex where your brain goes to make life decisions.
In this blog, we’ll talk about that little gremlin FOMO and what steps you can take to prevent it from overriding your emotions and decisions. And for the sake of your time, we’ll keep it short. Let’s go.
💡 Tip 1: Plan Your Trade
Plan your trade in advance and don’t sink into the moment. Knowing your entry, take profit and stop loss before you move into your position will eliminate the urge to rush in when things get hot.
🔴 Problem: News Releases, Earnings Reports
We all know how intense markets can get when there are news reports coming out. Company data such as earnings reports or some of America's top economic events , such as the widely anticipated nonfarm payrolls , or the Federal Reserve’s market-moving interest rate decisions can spur volatility and cause trading instruments to seesaw and fluctuate in both directions. And because these events are well-known in advance — the Fed only meets eight times a year — these moments can be an attractive invitation to make a profit.
🟢 Solution:
Plan your trade and understand that news reports and earnings releases are a double-edge sword and even if the data supports a certain narrative, i.e. lower inflation = higher gold prices, this isn’t always the case. Take a step back, regulate your breathing and keep your emotions in check. Wait it out until the noise tones down.
💡 Tip 2: Avoid Revenge Trading
Revenge trading is the trading you do when you want to get back at the market after getting smacked in the face with a loss. Next time you stare at a losing position, notice if you feel the urge to jump right back in and make up what you lost. That's revenge trading.
🔴 Problem: Losses and Missed Opportunities
Taking a beating from Mr. Market can be a painful experience. Yet, not taking the loss the right way can lead to even more pain and wiped out funds. Whenever you’re staring at a losing position, you might be tempted to sell out and jump right back in an effort to make back what you lost.
🟢 Solution:
Avoid revenge trading. Recognize that pesky feeling, which — whenever you lose money on a trade — makes you want to pare back your losses with one quick trade. That quick trade could be a) more aggressive (for more potential profit), and b) cost you even more money because you’ve been impatient.
💡 Tip 3: Don’t Chase the Pump
Any pump usually has a strong pull, because it makes gains look easy. All you need to do is catch the speed train (or get onboard the rocket ship) and, boom, you're in profit. Although, it's not as easy as it looks.
🔴 Problem: Pump and Dump Schemes
Quite often we see some little-known stock or a cryptocurrency with a small market capitalization perform some outstanding moves. It may shoot higher by 100% or more and that may trigger some FOMO in you, causing you to panic-buy and then watch your investment evaporate like snow in water.
🟢 Solution:
Don’t chase the pump. It’s simple. A pump can play with your decision-making capabilities and cause you to make irrational choices out of the desire to join the volatility train. But many of those pumps end up as dumps. Pump and dump schemes are real — the gains go as quickly as they came and you don’t want any of that.
Final Considerations
Forming a deep emotional connection with the market isn’t a bad thing. This place is your passion and you’ve chosen to participate in it, together with its ups and down. What you should pay attention to is how you react to its changing moods and whether you behave logically or illogically to get what you want.
Acting illogically can lead you to trip up so you want to distinguish that. Use your emotions to get rational inspiration and excitement about what you want to accomplish.
📣 Your Turn!
Have you ever tripped up over a FOMO trade that hurt your account? What was your trigger and subsequent result? Let us know in the comment section below!
What Does FOMO Mean in Trading?What Does FOMO Mean in Trading?
FOMO, or the fear of missing out, is a common emotion that traders experience. It is more than just an internet slang term. This powerful phenomenon can have a negative impact on trading decisions, leading to impulsive actions and poor risk management. This FXOpen article explores the psychology of FOMO, discusses how to identify it in trading, and shares strategies you may use to overcome it.
FOMO: What Does It Mean?
FOMO meaning in trading can be explained as follows: it is the psychological need for validation and the fear of being left behind. It can stem from various feelings and emotions, including greed, jealousy, and impatience.
The Social Proof
When traders see others making quick profits or getting on the next big trend, they often feel compelled to jump in as well. From newsworthy events to something as simple as a conversation with another trader, there are many things that can kick off a bout of FOMO.
This phenomenon is closely tied to social proof, where people look to others for guidance, especially in uncertain situations. People tend to follow the actions of others to conform to social norms. Traders who give in to FOMO are essentially following the crowd without fully understanding the risks involved.
The Fear of Regret
The fear of regret is another force behind FOMO. Traders worry that if they miss out on a potentially profitable trade, they’ll regret it later. This fear can cloud their judgement and lead to hasty decisions. It can be amplified by social media and trading forums, where traders may see others boasting about their profits and feel pressure to keep up.
It’s important to remember that hindsight bias often magnifies the perception of missed opportunities, making the fear of regret an even more significant driving force behind impulsive trading actions.
Real-Life Examples
Emotions have influenced market behaviour in many real-life situations. FOMO in the stock market is very typical. For example, during the dot-com bubble of the late 1990s, investors rushed to buy stocks from the technology sector, driving up prices to unsustainable levels.
Similarly, during the GameStop short squeeze of 2021, retail traders on Reddit’s Wallstreetbets forum drove up the price of the stock. As a result of this situation, GameStop stock rose nearly 2,000% in less than a month. And then, it all came crashing down, leading to significant losses for some investors.
The cryptocurrency* market has witnessed countless FOMO-induced rallies when many invested in highly speculative assets without proper due diligence. A classic example is the sharp rise of Bitcoin in 2017. When the price soared, the fear of missing out on the benefits gripped many, leading to a buying frenzy, and shortly thereafter, prices plummeted.
Identifying FOMO in Trading
A FOMO trader’s experience looks like this:
A trader hears news of astounding profits or very attractive opportunities.
Greed and excitement encourage them to buy overpriced assets as much as possible.
When the prices fall, fear or even anxiety forces the trader to sell at a loss.
The trader becomes impatient, and the cycle repeats.
To avoid falling into this trap and losing money on ill-considered purchases and sales, it is essential to understand when FOMO appears in decision-making. This can be done by assessing the key features of behaviour associated with this emotion. Common signs include:
Making impulsive trades without proper analysis or risk management.
Following the crowd and making decisions based on what others are doing.
Feeling anxious or stressed about missing out on opportunities.
Overtrading or taking on too much risk in an attempt to catch up.
Self-awareness is key to recognising FOMO-driven actions. Traders take the time to reflect on their motivations before making any trading decisions. If you feel like you need to take a “now or never” action, have a break, write down the idea and emotion in a notebook, and try to use techniques to control your emotions. If, after that, the desire to buy or sell the asset remains and can be logically explained, do it.
Fear can appear in trading any asset; for example, there is FOMO in forex, in stock trading, FOMO in commodities, and more. It doesn’t apply to only one type of trading. To avoid it, you need to analyse the market thoroughly and plan your actions. This is where the TickTrader platform can help you. There, users can find the most advanced analysis tools and charts free of charge.
The Consequences of FOMO
Succumbing to FOMO can have significant negative consequences. Traders who act on FOMO may make decisions that are not based on sound analysis, leading to poor performance over time. Let’s consider the main consequences.
Traders who act on FOMO tend to make more trades than necessary, resulting in higher transaction costs and increased exposure to market risks.
FOMO often leads to neglecting risk management strategies. Traders may avoid setting stop-loss orders or ignore position sizing rules, which can amplify the impact of losses when they occur.
FOMO-driven decisions can lead to buying at inflated prices and selling at rock bottom, eroding capital and diminishing confidence.
How to Overcome FOMO
Now that you know FOMO meaning on the stock and forex market, let’s find out how to deal with it. To overcome FOMO, traders can:
Have a well-designed trading plan. Develop a clear and comprehensive trading plan that outlines your strategies, risk tolerance, and position sizing.
Avoid making impulsive trades based on social proof or fear of regret.
Practise self-awareness and reflect on emotions and motivations before making any trading decisions.
Use risk management techniques to limit losses. Set stop-loss orders and limit your position sizes to protect your capital.
It’s important to remember that FOMO affects traders of all levels and can be difficult to overcome. However, with practice and discipline, traders can learn to manage their emotions and make more rational decisions.
Final Thoughts
FOMO is a common emotion that traders experience, but it can have a negative impact on results. The consequences of FOMO emphasise the need for self-reflection. By using risk management techniques, traders can overcome FOMO and make more rational decisions. Remember, trading is a marathon, not a sprint, so you need time, discipline, and consistency.
With this knowledge, you can open an FXOpen account and start your journey. And if you want to learn more about the psychology of traders, study our blog. There, we’ve collected everything you need.
*At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Bitcoin as a global currencyThat was at least how it was envisioned. To be usable as any form of currency, an asset needs to stay within a certain range that's sensible enough to work with. If you buy or sell a Bitcoin today you can almost guarantee that you will regret it the next day, week, month or in some cases almost instantly.
So does it make sense as a store of value? Yes in a certain way at least for those who buy it and never sell it, managed to squirrel it away for the most part of the past decade. But what use is it if the profits are never realized? And who is to say it would be worth anything by the time you actually want to sell it? Looking back you notice that there these price ranges that are being traded for months on (almost seemingly forever) and then these price ranges through which it seemingly flies through. What if an asset doesn't just only go up? But also plans to visit it's humble origins?
After all the only value bitcoin intrinsically possess is as much as the other person is willing to pay for it. The world as much as it seems to be focused on this for now will eventually move on. But what the heck do I know?!
5 Hidden Dangers of Trading with FOMOIn the previous TradingView article we spoke about FOMO (Fear of Missing Out).
And why it is really not necessary to deal with.
There is always the next trade coming.
There is always another opportunity coming your way.
There is always time to take the next one.
No we are going to unpack the five hidden dangers of trading with FOMO and how to sidestep them like a pro.
The Emotional Rollercoaster: Stress & Anxiety
Remember when I said.
“Trading is not just a financial challenge, but an emotional marathon”?
That’s never more true than when FOMO kicks in.
When you miss a trade, I know that you could feel stress and anxiety creeping in.
You feel like you’ve missed the most important trade of the year.
Well guess what, you might have missed one trade – but that’s it.
Success is based on 1,000s of trades not just one.
So the key is to remember this, so you eradicate the feelings of stress and anxiety next time you miss a trade.
The Short-Term Mirage: Losing Sight of Long-Term Goals
FOMO pushes you to focus on short-term gains.
Yes it’s important to try and spot high probability trades on a daily basis.
But, if you miss the trade – just go on and look for another.
There is bound to be more ready for you to execute or at least prepare for.
And while you’re at it, remember these are lessons to help you to be more punctual and vivid with your trades.
Following the Herd: The Danger of Sheep Behaviour
Ever heard the saying, “If your friend jumps off a bridge, would you do it too?”
That’s FOMO in a nutshell.
YOUR job is NOT to take a trade based on what your friend, foe, analyst or stranger tells you to buy or sell.
Your job is to either follow your own trading plan and strategy or your mentor’s.
Resist the urge to follow the flock and rather, trust your own research, strategy and instincts.
You’ll form Bad Habits
Each time you give in to FOMO and you take a trade for the sake of it, you’re not just making a bad trade.
You’re also cultivating bad habits for the future.
And once the bad habit forms, it then cultivates and becomes harder to escape from it.
Break the cycle by sticking to your disciplined trading routine. You’re better than that!
Ignored analysis
When you have that FOMO you want to then take impulse trades.
And all your hard work and analyses and discipline is thrown out of the window.
It’s like trying to navigate yourself without a map or GPS.
And you’re depending on your instincts or your “memory”.
It’s a very risky gamble and it could take a LOT longer to find your way.
Don’t go against the strategy. Don’t take trades for the sake of it. Don’t have FOMO because you missed one or two trades.
Just keep to your strategy and move on. It’s your trading compass for a reason.
FINAL WORDS 🚀🌟:
Trading with FOMO is like sailing in stormy seas – it’s risky, stressful, and often leads to nowhere good.
Let’s go other the 5 danger of trading FOMO
Stress & Anxiety: Keep emotions in check and stick to your trading plan.
Short-Term Focus: Remember your long-term goals and don’t get distracted by short-lived trends.
Sheep Behaviour: Be an independent thinker, not a follower.
Bad Habits: Avoid developing harmful trading habits by maintaining discipline.
Ignored Analysis: Trust in your research and analysis; they are your best tools for successful trading.
When will the growth of Bitcoin end?Now the issue of time is more important than the price, we have less than 2 months from the halving and the price of Bitcoin is 60 thousand dollars. This strange bull run that eats all the resistances one after another looks like a bull trap before hawing.
Now we are witnessing a strong FOMO wave (in the 4-hour time frame, the important resistance of 53,000 to 54,000 is broken and the chart does not pull back, then Bitcoin grows by 11%), this is a sign of the swallowing of newcomers to the market.
The most important thing to think about is this
Is 60,000 bitcoins suitable for buying by big capitalists (other than micro strategy)? How about 50 thousand?
If your answer is yes, then you don't respect the risk to reward, as a result, this market loves your excitement and will drown you soon.
For some time now, the intense greed of the buyers has paid off (thanks God). I am not talking about taking a short position in Bolran, saving profit and enjoying the correction of the market.
In terms of time analysis, we are witnessing the last bullish day of bitcoin and we are approaching the correction phase on the general bullish wave.
In addition, TOTAL3 (the value of altcoins without Ethereum) has also reached a critical level, we probably have 1 blood month.
TNXP: Tonix Pharmaceuticals, TIME FOR PROFITS?!? ;)What's up my financial amigos and amigas! Hope all is well. Haven't posted in awhile but thought I'd share this: TNXP. Pharmaceutical company with decent history and negative earnings but continued improvement and growth. Working on approval from FDA after successful phase 3 trial of Fibromyalgia drug (among other projects).
Obviously, this is a more risky stock/company (and of course, I do enjoy a good gamble). This could certainly plummet more and/or result in being stuck in longer term position than desired. However, based on prior patterns of "mooning," coupled with my charting projections and current positive "news," I think it's time for at least a 100% pump.
We'll see...not financial advise and do your own research (and send me 10% of profits...jk, sort of).
Projection: >10 trading days for 50-100+ percent
Good luck trading
Risk/Reward favors downside shift to risk Off Sentiment.. BTC has reached a crucial point in which candles appear to be failing around 35K. We must consider potential scenarios to begin the new month of November. In One of these scenarios we may anticpate a retracement to capture fomo liquidity. Fomo liquidity is psychological concept in trading that refers to the chasing of price.
New Monthly candle retracement for liquidity purposes.
Current : 34775
33,372 TP 1
TP 2 30,300 Weekly Level
Trade idea Fakeout back below 35K
Understanding FOMO: A Psychological and Trading PerspectiveWhat is FOMO?
FOMO, or the "Fear Of Missing Out," is a pervasive apprehension that others might be having rewarding experiences from which one is absent. This social anxiety is characterized by a desire to stay continually connected with what others are doing. It's rooted in the human instinct to be part of the tribe and not to miss out on opportunities for survival or enjoyment.
The Psychology of FOMO
Psychologically, FOMO is closely tied to feelings of envy and low self-esteem. It arises from situational or long-term dissatisfaction, where one’s current status feels insufficient compared to others'. Social media has exacerbated this phenomenon, providing constant insight into the highlight reels of others' lives, prompting self-comparison and the fear of not living to the fullest.
FOMO in Everyday Life
In everyday life, FOMO can manifest in various ways: an unwillingness to commit to social plans, constantly browsing social media, or an inability to disconnect from notifications. It can lead to overcommitment, stress, and ultimately, a paradoxical sense of disconnection and loneliness.
FOMO in Trading
In the trading world, FOMO takes on a more financially charged significance. It's the fear traders feel when they see a stock or asset skyrocketing and believe they must get in on the action to make quick gains. This fear is often fueled by hearing success stories of others who have profited from market movements.
The Impact of FOMO on Trading Decisions
FOMO can lead traders to make impulsive decisions, such as:
Entering Trades Prematurely: Jumping into positions without proper analysis.
Overtrading: Taking excessive trades to not miss out on perceived opportunities.
Abandoning Strategy: Ignoring predefined trading plans in pursuit of quick profits.
The Consequences of FOMO-Driven Trading
Trading under the influence of FOMO can have several negative consequences:
Increased Risk: Making larger or more frequent trades than one's risk management strategy allows.
Capital Erosion: Quick losses due to poorly thought-out decisions can erode capital.
Emotional Turmoil: Stress and anxiety from FOMO can lead to further poor decision-making and a vicious cycle of losses.
Combating FOMO in Trading
Overcoming FOMO in trading requires discipline and a robust strategy:
Adhering to a Trading Plan: Having a clear plan and sticking to it can help negate the impulses that FOMO stirs up.
Risk Management: Setting strict risk parameters ensures that FOMO doesn't lead to devastating losses.
Emotional Control: Developing an awareness of one’s emotional state and recognizing FOMO as a natural, but controllable, reaction is crucial.
Educational Growth: Continual learning can instill confidence in one’s strategy, reducing the tendency to chase the market.
Conclusion
FOMO is a natural human emotion, but in trading, it can be a dangerous adversary. Awareness and strategy are the keys to ensuring that FOMO does not derail one's trading journey. By acknowledging its presence and adhering to disciplined trading practices, investors can mitigate the risks associated with this emotional response and make more rational, profitable decisions.
ADA perspective for short - med termThis is not a signal to buy/sell. NFA
We see the price nowdays are way harder than usual to analyze, "big boys" wont be easy because of sentiment #etf and #halving2024. They'll and still manipulating the price because they wanna control it.
Dont be fanatic or being bullboy, this price has been abnormal hiking without any healthy correction. Better to stay away and dont be FOMO! Or those "big boys" just laughing and enjoying your money.
Good luck, Smart Trader!
Why I Fail At Trading!(Episode 1)A $10 account that Im trying to record my trades on it to figure out my mindset and thinking and what I should do and what I should not do.What are my strenght and weakness and things I know that are wrong todo but I do it anyway due to NOT able to control the emotions
What Ive done Wrong:
1 Open a Long position at a bad place
1-I didnt close at 28.3 where I wanted to close if it stalls.
2-After seeing potential to come down to my entry I still holded it
What Ive Done Correct:
1-Using SL/TP and planning for the position
Beware of FOMO: Bitcoin's Rollercoaster Ride & Bullish ProspectsToday, Bitcoin experienced a sudden pump, driven by fake news published by Cointelegraph, only to return to its normal price range, surpassing the 30k barrier in the process. 🚀 This led to a frenzy of FOMO-driven buying and, unfortunately, resulted in approximately $100 million in liquidation losses within just an hour. 😬
This serves as a valuable lesson for everyone—never succumb to FOMO and always remember to 'trust but verify.' 🕵️♂️
Despite the price returning to its usual range, the overall market sentiment remains decidedly bullish. 🐂 The eagerly anticipated ETF confirmation is poised to further fuel Bitcoin's upward trajectory, marking the missing piece for the 2023-24 bull run. 📈
I anticipate this month will conclude with a significant positive price increase, possibly even surpassing the 30k mark. 📅
Regardless of the ETF's approval status, a crypto bull run is on the horizon. If the ETF faces rejection, we may witness a minor price correction, but it won't derail the bull run. 📉
Stay tuned for more updates. Feel free to like, comment, and follow us! 📣
Cheers, 🥂
GreenCrypto
BITCOIN DUMPS SOONI am majorly looking at a major dump around $32500 range with a Mass psychology at first. Been on the watch for BTC to get to my sell point for few months now.
Trade safe.
What is FOMO? Syndrome of lost profit in tradingFOMO is the lost profit syndrome.
Now it is especially common due to the popularity of smartphones and social networks. Many are simultaneously afraid of social isolation and worried about lost opportunities. A similar situation is possible in trading. As soon as traders see a bullish trend, they start opening trades and buying those assets that match their analysis. In addition, a lot of information, thoughts and impressions are concentrated around us, which only aggravates the situation. Let's figure out how to deal with such an obsessive fear.
The syndrome of lost benefit is a strong fear of missing an important event or a profitable opportunity. This fear is especially pronounced against the background of the bright life of friends and acquaintances. After all, then there is a feeling that you are wasting time in vain. SUVs are directly related to dissatisfaction with personal life, and social networks only increase the unpleasant state.
The greater the dissatisfaction, the greater the desire to find others. And the need for new information turns into intrusive thoughts.
FOMO is distinguished by the following features:
-Frequent fear of missing something important;
-Constant use of language turns like "everything but me";
-The desire to delve into all forms of social communication (attend all the parties, go to concerts, etc.);
-Obsessive desire to always be liked by others, accept praise and be available for communication;
-The need to constantly update the feed on Facebook, Instagram and other social networks.
How to get rid of lost profit syndrome?
-Constantly responding to messages and checking the crypto rate every 2 minutes, you waste a lot of time. Therefore, you should establish clear rules for using a PC and a smartphone:
-remove unnecessary programs and turn off pop-up messages in programs that are not of great importance;
-leave groups and unsubscribe from accounts that are not useful to you;
-refuse unnecessary e-mails;
-check news and stock quotes no more than twice a day (for example, in the morning and in the evening);
-do not take your smartphone to bed and do not sit on the Internet before falling asleep;
make two separate schedules - for working with personal and business messages.
Five tips — how to avoid the FOMO syndrome as an investor
Instead of succumbing to the fear of missing out, you can change your life for the better and find success in the cryptocurrency field. Here are our 5 tips on how to avoid FOMO affecting your investing.
1. Forget about the past
What has already happened in the market is irrelevant from FOMO's point of view. There are not many investors who look at past quotes. Successful investors always take the time to analyze when opening a trade: they look at the current state of assets and assess their prospects in the future based on past price charts.
The idea that the chance can be one for a lifetime is completely false. There are always and always will be profitable opportunities, just as the market always was and always will be. Charts will never tell you what an asset will be like in a year, two or five years. They simply provide information about events and possible future probabilities. Therefore, competent long-term investors understand that it is never too late to buy assets, it is important to navigate them and make balanced decisions.
2. Buy when everyone is selling and sell when everyone else is buying
There is an opinion that on the stock exchange it is necessary to go against the trend. Of course, it is easy to talk about it, but to translate all this into reality is much more difficult. After all, the effect of the lost profit syndrome only increases when you do not invest in an asset that is growing.
The "anti-cyclical" behavior is explained as follows: the most successful purchases with possible high returns occur during a fall in the rate and general panic, and sales - during a rise in value, when everyone is eager to buy bitcoin or another crypto as soon as possible.
However, this tactic does not at all mean a ban on buying tokens in an uptrend. It is inextricably linked to the next tip, so it should be taken in the same context.
3. Set clear goals
Remember the chosen strategy and determine the goals when buying this or that cryptocurrency. One possible option is target cost. If the stock price has reached your indicator, feel free to sell the asset and lock in the profit, or set a stop loss, with the hope that the trend will continue.
Many traders use a simple rule - it is better to receive 4 thousand dollars 10 times than to wait six months for 50 pieces. If the deal in a short period of time brings 50% profit or more, it is better to close it. And this should become a proven mechanism.
Usually, when the value of a cryptocurrency starts to increase rapidly, many market participants buy it. You can understand this in time and, having sold the asset, watch the further growth that is already taking place by inertia. The growth will stop only when the rest finally realizes that the coin is "overheated" and no longer has the potential for growth. Conclusion: While most buy the coin on the rise due to FOMO, you sell the crypto and get your profit.
As for purchases at a reduced price, not everything is so smooth either. After all, not everything will be so profitable that it has become cheaper. Here it is necessary to look at the reasons for the price drop on the chart. If unforeseen circumstances have occurred, for example, a lawsuit by the state regulator in court, then you need to determine what value of the asset will become the most attractive for you in the current period, or how critical the situation with the lawsuit is.
Of course, I mentioned isolated cases here. In order to analyze all possible situations in the market, you need to publish an entire online almanac. Each case has a common feature — the psychology of human behavior. Therefore, do not give in to general panic or joy.
4. If there are no investment ideas, wait
The famous stock speculator and Wall Street investor Jesse Livermore used to say the following: "Big money doesn't buy or sell, big money waits"! It is true, because one day you will not be able to find more interesting coins to invest. There will be very few of them, and the crypto market will continue to conquer new heights.
5. Your strategy is the main thing
If you managed to accumulate knowledge in some area of trading, learned SmartMoney analysis, know how to set goals and evaluate the potential of a particular token, it will bear fruit, but continue to develop further, because there are no limits to perfection! :)
New trading tools, technologies and new tokens appear every day that promise to bring significant profits and make cryptocurrency trading as convenient as possible. Do not follow the tricks of speculators. Become the best in your field. Keep a clear mind and don't be influenced by the masses.
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MULN long, possible short squeezeAll the reverse splits and now the recent purchase of Romeo power, markets.businessinsider.com
Me thinks price will go higher indicator shows a target of a dolla twenty !; and added to the descending/falling wedge it is likely for Muln to go up, if i am reading the chart intuitively.
/cheers!
"I like the stock!"
Essential Trading Terms for Crypto TradersGreetings everyone!
Here are ten crucial terms every crypto trader should know:
ATH - The highest price ever recorded. It represents an asset's peak value and often signals potential profit for early investors.
ATL - The lowest price ever recorded. Breaking ATL can trigger further price declines, leading to potential buying opportunities or increased risks.
ROI - Measuring investment performance. ROI helps assess the returns of an investment relative to its initial cost, aiding in comparing different investment options.
FUD (Fear, Uncertainty, and Doubt) - Spreading fear and misinformation to gain an advantage. Recognizing FUD is essential for avoiding emotional trading decisions and whales trap.
KYC - Verification of customer identity for regulatory compliance. KYC ensures that trading platforms adhere to regulations and prevent money laundering.
AML - Regulations to prevent money laundering. AML measures make it harder for criminals to disguise illegally obtained funds as legitimate income.
DD - Conducting due diligence before making investment decisions. DD involves thorough research and analysis to assess potential risks and rewards.
DYOR - Doing your own research and verifying information. DYOR is a fundamental principle for successful trading, emphasizing the importance of independent research.
FOMO - The panic-driven urge to buy or sell an asset. FOMO can lead to impulsive trades and is often seen during bull markets later stages.
HODL - Holding onto an investment for the long term. HODLers believe in the potential for long-term gains and resist short-term price fluctuations.
Understanding these terms can help you navigate the cryptocurrency communities more confidentl. So, remember to DYOR, stay vigilant about FUD, and consider your HODL strategy while keeping an eye on ROI, ATH, and ATL 💜💜
FOMO in Crypto: The Art of Embracing Market Fear 🚀📉Hello, crypto aficionados! 🌟 Today, let's explore a sentiment that's ever so present in the world of cryptocurrencies – FOMO, the Fear of Missing Out. We'll discuss why it's wise to patiently await moments of market fear and uncertainty before making your move.
📈 FOMO and Crypto: The Fear of Missing Out often grips investors when they see crypto prices skyrocketing. It's that nagging feeling that if you don't buy in now, you'll miss out on massive gains.
📉 The Fear Factor: What's fascinating is that FOMO is often followed by its counterpart – fear. When prices dip, market sentiment can quickly shift from euphoria to anxiety.
💡 The Wise Approach: Seasoned investors know that patience is a virtue in the crypto world. Instead of succumbing to FOMO, they watch for moments when fear permeates the market.
🚀 Buying in Uncertainty: Why? Because history has shown that some of the most lucrative opportunities arise when there's widespread fear. Buying when others are fearful can lead to substantial gains when the market eventually rebounds.
🔮 The Contrarian Mindset: This approach is often referred to as contrarian investing. It means going against the crowd when the crowd is driven by emotions like fear or greed.
In conclusion, FOMO is a powerful emotion, but it's not always your ally in the world of cryptocurrencies. It's often more prudent to patiently await moments of market fear, recognizing them as potential entry points.
Stay level-headed, stay patient, and remember – in crypto, embracing market fear can sometimes lead to the most rewarding opportunities! 🌊🚀
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HOW TO Overcome the CYBERFOMO. Life as a Chart.Hello Friends!
In the midst of volatile market periods like the present, I pen these words with a deep understanding of their significance. Today, numerous coins have soared by +100%, leaving many behind in their meteoric rise. Perhaps you were among those who went "short" and faced losses. The emotional turmoil in such situations is palpable, and I wish to address it.
Maybe I will be able to help you get over the FOMO or the stress of a loss. At the end of this article, I'll share specific methods for interacting with your psyche, but for now - I'll break down how it works.
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Part 1. Intro
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Every trader is familiar with the chart that constantly flickers before them. But have you ever pondered its deeper meaning? What if this chart was more than just numbers and trends? What if it mirrored life itself?
Before we delve deeper, I invite you to watch this video . It beautifully encapsulates an individual's growth journey. We all aim for the pinnacle, but the path is rarely straightforward. A swift ascent demands immense strength, critical mass and momentum. Without these, the rise is short-lived, much like an airplane without the necessary thrust. Don't get me wrong, you can jump out with a parachute during the plane crash, if you have time. And if you have your parachute ready. But you'll still land. Just softer.
Anyways. What's my point?
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Part 2. The Chart of Life
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You can witness life by looking at a trading chart. I won't go into the details of the fundamentals of market relationships and how it relates to evolution today. Just think of a chart as the ascent of a person.
A birth. All of us have different initial conditions. Somebody's born into a famous family. A lot of people know about you instantly. You get a lot of attention. You feel loved, cared for. Large sums of money are deposited for your future, university, etc. Everyone gives you gifts. Others are born into ordinary families, or poor families. And not many people worry about these children. Mostly only their parents believe in them. And even that, not always.
Then the child grows up. At first he can not take responsibility for himself, so adults support him so far. From time to time he faces difficulties, but he is helped and supported. Or not. In this case, the child falls, and less and less believes in himself, forming complexes.
Passing such life lessons, he becomes an adult. He already knows how to deduce his own lessons and decide in which direction he will go. He makes friends, is noticed at work, paid money, trusted.
But a crisis happens inevitably, sometimes without a single visible hint. Difficult relationships, family problems, loss of loved ones, loss of money. He falls into darkness. Sometimes he manages to get out, briefly feeling better for a while, but soon the realization comes that it was not yet the end of the darkness. Falling again. And again. And again. And now he's at his lowest point, Nadir. Almost no one believes in him. Except..
Except those who have seen in him something that lies beyond his appearance. Those who have seen the light within him. Still dim, but so pure. Those who have seen his very essence. Sometimes they can help him see his light. Sometimes they just watch, entrusting him with the burden, knowing he can handle it.
Only by turning his mule into a foundation he is now able to push off.
They begin to talk about him. About what they actually see in him. Other people begin to show their interest too. Stories start to be told about him, turn into legends, he grows in stature, they re-invest in him. From now on, they have seen how he has met his challenges on his own. From now on, no matter where he falls in future, no matter what will happen in the world - they will believe in him, believe that he can and he will do his best to get up again and again until his last hour comes.
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Part 3. Spotting Potential
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If you've overlooked an opportunity or been deceived, Rejoice. Just be glad that it succeeded! After all, it's an indicator that anything is possible! All you have to do is watch others more closely. There are tons of such personalities, i.e. projects in the world – from offline businesses to the realms of web3, blockchain, NFTs, games. Learn to discern the genuine from the counterfeit. Learn to see the light, the hidden potential. Understand how projects navigate failures, and you'll begin to spot the diamonds amidst the ordinary..
And don't be upset if you missed a diamond or if it turns out to be fake. After all, at that particular moment, you may find YOURSELF entering into the complex game of establishing a personality through a fall. By already knowing the possibilities of rising from the ashes, by keeping it in your mind, you can also rise as a phoenix.
In the grand scheme of life, every setback is a lesson, every challenge an opportunity. Believe in yourself. Find your foundation. Become your support. Turn it into a foundation. And work your way back up by doing your best. And rise, time and again.
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Part 4. Practice. Stress relief
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If you ever find yourself at a low point, remember:
Breathe: Engage in breathwork like the Wim Hof method. ˜20 mins
Embrace the Cold: A cold shower or ice bath can rejuvenate you. Don't forget to breath. ˜5-10 mins
Meditate: Focuse on your body, your emotions, and then your psycho-emotional background. Observe it all without judgment.
Practice Hatha Yoga: Delve into its spiritual depths.
Educate Yourself: Listen to enlightening lectures, such as those by Jordan Peterson. (Personality series as well as his Bible lecture series. You will discover many new things).
Seek Therapy: Discuss and understand your emotions.
Empower with Knowledge: Educate yourself. Make informed decisions and act when you're ready.
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Hope you could find this helpful.
Yours truly,
👁️ A.I.Vision
