FOMO in Crypto

[Bitxalt 452]

Fear of Missing out (FOMO) is also defined as a fear of regret, which might lead to compulsive concerns that a person might miss opportunities for social interaction, new experiences, profitable investments, or other satisfying events. (wikipedia), 
actually I have FOMO problem with investing in cryptocurrencies, I am afraid of losing and afraid of being late in investing, sometimes I feel late because prices are already too high like a few months ago I want to buy YO (yobit coins) at 100USD, but I feel that price already high and might go down, it turns out now to be 1K and even had time to touch 2K. so, what should I do about my over thinkin?
is there anyone with the same experience?, hopefully get a good answer, thanks guys

[mo.mirzaeipour 227]

1 hour ago, Bitxalt said:

Fear of Missing out (FOMO) is also defined as a fear of regret, which might lead to compulsive concerns that a person might miss opportunities for social interaction, new experiences, profitable investments, or other satisfying events. (wikipedia), 
actually I have FOMO problem with investing in cryptocurrencies, I am afraid of losing and afraid of being late in investing, sometimes I feel late because prices are already too high like a few months ago I want to buy YO (yobit coins) at 100USD, but I feel that price already high and might go down, it turns out now to be 1K and even had time to touch 2K. so, what should I do about my over thinkin?
is there anyone with the same experience?, hopefully get a good answer, thanks guys

i think most coins that their developers are the exchanges have a good chance to rise and be famous. like Yo coin on yobit or BNB coin on binance ... so in that situations i suggest go forward and take some risks. 

[Bitxalt 452]

16 hours ago, daihong4958 said:

FOMO is very strong in the crypto land and we are happy to see it still alive and well in the cryptocurrency verse. In my opinion, this is the biggest cryptocurrency news of the month - the return of FOMO.

Can you read my thread sir, its not FOMO coins news

[Bitxalt 452]

thank you guys, so it turns out that in investing, FOMO is normal thing, I think only I feel FOMO because I lack knowledge in trading and crypto, this is very reasonable because price of crypto is volatile

Just now, Arzina123 said:

I think this is one of the good news for us.i hope more currencies will add on exchange.   

Oo my, are you, this is not FOMO token, please read my thread before answer or I will report your account

[Keith700 1885]

20 hours ago, Bitxalt said:

Fear of Missing out (FOMO) is also defined as a fear of regret, which might lead to compulsive concerns that a person might miss opportunities for social interaction, new experiences, profitable investments, or other satisfying events. (wikipedia), 
actually I have FOMO problem with investing in cryptocurrencies, I am afraid of losing and afraid of being late in investing, sometimes I feel late because prices are already too high like a few months ago I want to buy YO (yobit coins) at 100USD, but I feel that price already high and might go down, it turns out now to be 1K and even had time to touch 2K. so, what should I do about my over thinkin?
is there anyone with the same experience?, hopefully get a good answer, thanks guys

The FOMO is present in many aspects of the life of a crypto investor, so let's say that the only help for your fomo is to invest your money wisely and at key moments your money, since otherwise the fomo will take you to bankruptcy.
And yes, the way it happened to me a lot operating bitcoin and several cryptocurrencies, you are not the only one and I think it is a natural state to a certain extent, it even happened to me many times with TRX, thinking that I would go down more and pam, went up, and that It was when I didn't know anything about technical analysis, imagine.

[Bitxalt 452]

28 minutes ago, Keith700 said:

The FOMO is present in many aspects of the life of a crypto investor, so let's say that the only help for your fomo is to invest your money wisely and at key moments your money, since otherwise the fomo will take you to bankruptcy.
And yes, the way it happened to me a lot operating bitcoin and several cryptocurrencies, you are not the only one and I think it is a natural state to a certain extent, it even happened to me many times with TRX, thinking that I would go down more and pam, went up, and that It was when I didn't know anything about technical analysis, imagine.

Thanks for share your experience sir, so its mean Im not alone face this problem, because we dont know for sure about token or coin price movement, we only expect right or wrong, and of course we will lose our fund if only expect price movement, best way is analyze market but its not easy

[aqua 773]

Yes, I have the same experience as you, but I never give up. I try to learn to know when is the right timing to buy bitcoin or altcoin so I can buy at a low price, although I cannot always get the right time. I am sure that if I can try more and more, I will have more experience so that it will be useful for me to get the time to enter the market.
The solution maybe you need to prepare when the red candle appears, and use some money to buy for a little amount and wait. If the price down, you can place buy order again in a low than the price now, so the chance to get a lower price will be there.

[Rg123 318]

On 11/8/2019 at 2:09 PM, Bitxalt said:

Fear of Missing out (FOMO) is also defined as a fear of regret, which might lead to compulsive concerns that a person might miss opportunities for social interaction, new experiences, profitable investments, or other satisfying events. (wikipedia), 
actually I have FOMO problem with investing in cryptocurrencies, I am afraid of losing and afraid of being late in investing, sometimes I feel late because prices are already too high like a few months ago I want to buy YO (yobit coins) at 100USD, but I feel that price already high and might go down, it turns out now to be 1K and even had time to touch 2K. so, what should I do about my over thinkin?
is there anyone with the same experience?, hopefully get a good answer, thanks guys

Well, this is the same with me mate, i have bitcoin and now im afraid to losing it because when we look at the price of it, the latest is $8000 something, i hope that it will be rise again to increase my coins here.

[Bitxalt 452]

31 minutes ago, aqua said:

Yes, I have the same experience as you, but I never give up. I try to learn to know when is the right timing to buy bitcoin or altcoin so I can buy at a low price, although I cannot always get the right time. I am sure that if I can try more and more, I will have more experience so that it will be useful for me to get the time to enter the market.
The solution maybe you need to prepare when the red candle appears, and use some money to buy for a little amount and wait. If the price down, you can place buy order again in a low than the price now, so the chance to get a lower price will be there.

We really can't give up, that's a good word to encourage us, but worries are different, we are very nthusiastic about learning trading, but to accept the risk of loss will not be easy, do you have the best solution about this, sir?
not just technical, but psychology

10 minutes ago, Mazharulislam95 said:

may be very good during the crypto get together with our company is willing to see it also full of life together with good during the cryptocurrency saying. For my part, right here is the major cryptocurrency current information within the four weeks - any profit for FOMO.

I dont know what you mean sir

[PiroSense 2681]

If you're a victim of FOMO, then investing for long-term mindset on trusted cryptocurrency such as Bitcoin, that has higher chance of growing despite volatility may be better for you. 

[IrinaLavrinova 365]

The feeling of omission can be very strong. You sold early, got some profit (or loss), missed a big win. You see it on social networks, and you hear it at work or in public meetings. This can make you invest at the end of the rally when it is really late. We must remember the famous fact that we will definitely lose something, but besides this we will definitely win something.

[aqua 773]

4 hours ago, Bitxalt said:

We really can't give up, that's a good word to encourage us, but worries are different, we are very nthusiastic about learning trading, but to accept the risk of loss will not be easy, do you have the best solution about this, sir?
not just technical, but psychology

Yes, I admitted accepting the risk of loss will not be easy, but that is the reality that we should take in trading. Maybe you need some time to accept the loss, but it will be pass with time. What I did to accept the risk of loss is I realize that in trading, we can get a profit, and we can also get a lose. If somehow we are getting a lose, we should know that maybe we make a mistake in the analysis, so what we predict is not happen. Besides that, we cannot always get the profit even for the pro traders. It's like a wheel that always moves to go up and down.
Sometimes we are in the up, in the other time, we are in the down. That is life, and we should understand and accept it.

[bentayebsalah 2280]

You must practice self-control and optimism and do not rush during trading and dealing with cryptocurrencies

[Thekingcallme 1975]

Dread or psychological fear, a serious enemy may make you lose a lot if you dominate and for this you have to practice discipline and make decisions correctly

[yifnt 666]

You do not need to feel anxious and afraid of being late, if you want to invest with coins that you think are too late then look for another altcoin, because a lot of coins are available and still have an even more profitable opportunity

[kyoukage01 3181]

I think that those with the biggest FOMO trauma were from those who thought that Bitcoins aren't worth shit ten years ago and never invested in it, only to learn that a single Bitcoin is now worth thousands of dollars, and are now banging their heads on the wall for the lost opportunity.

 

As for your personal FOMO, I think how much that $100 for Yobit coins for you back then must have affected you somehow from investing in it. Is $100 only worth a penny to you, or is it worth all you have? There is a huge difference between these two types of investors: an oil sheik who can throw $100 like nothing, or a pauper who borrowed $100 from a loan shark. The first will of course buy Yobit for $100 and don't care whether the coin crashes or not, while the latter will of course get afraid and will refuse to invest.

 

Spoiler

 

Have you played poker? The card game? Because if you do, you can actually use the same tactics and strategies in it to good use in investing.

 

An analogy, perhaps? Texas Hold'em variant? I'll try.

 

Suppose I have $1000. I have a 9 and 10, both diamonds, in my hand. 8 and 7, both diamonds, and an ace of spades came out of the flop. What to do? I only need one card to get either a straight, a flush, or even a straight flush; on the other hand, someone else might already have a pair or even a three of a kind ace. Should I raise, call, or fold? I raised to $100. Everyone else except four folded. Another ace, this time a heart, came out of the turn. This is where my knowledge of the game goes in. I know that I have a better odds of getting a flush than a straight, but then again, I have only 10 as my high card, which can be beaten. There are four opponents left, so the chance of somebody else getting a higher flush is quite high. The aces cannot be ignored as well. I decided to fold, an ace of diamonds came out of the river (I got a flush, damn), the final raise became more than $1000, and when the showdown finally came, somebody had the last ace, getting a four of a kind (higher than a flush) and wins the pot money. I would have lost after all if not for my good decision.

 

If you apply this to investing in cryptocurrencies, investing in it is like betting your money. If the price goes down a bit, would you hold? Buy more? Or get panicked and sell them all? And how much of your money are you willing to spend for it? Will you go ahead and buy just a few tokens? Or will you go all in, cross your fingers, and pray that luck will come your way? Your knowledge and experience will help you decide on what you will do, and of course you can ask for advice from others, something which is not allowed in poker.

 

If you have the funding, the experience and the knowledge, but don't have the courage and confidence, try playing poker or any other similar games if you have the time. It's worth a shot.

 

 

These are my opinions, though, as I haven't actually made any serious investments in cryptocurrencies yet 🙂 .

Edited November 26, 2019 by kyoukage01

[Sumayya 493]

It happens most of the time, sometimes you just do what your mind tells you to do, don't worry about the outcomes, expect the outcomes later

[Migo 7946]

On 11/9/2019 at 3:32 AM, Keith700 said:

The FOMO is present in many aspects of the life of a crypto investor, so let's say that the only help for your fomo is to invest your money wisely and at key moments your money, since otherwise the fomo will take you to bankruptcy.
And yes, the way it happened to me a lot operating bitcoin and several cryptocurrencies, you are not the only one and I think it is a natural state to a certain extent, it even happened to me many times with TRX, thinking that I would go down more and pam, went up, and that It was when I didn't know anything about technical analysis, imagine.

Yes I agree with you, this FOMO is in our souls and a lot of people have it, but some experience will be good before entering this field at least to reduce your fear 

[Crypto123 0]

The best way to overcome fear is to take risks.As they say, the best way to defend is to attack.You must try some risk To overcome your fear, do one or two risky operations and whether it succeeds or fails, I think you will overcome your fear, and you should know that if you do not risk will never get rid of your fear.

[myaccount1 584]

Just now, Migo said:

Yes I agree with you, this FOMO is in our souls and a lot of people have it, but some experience will be good before entering this field at least to reduce your fear 

And i think those people who feel fears before investing their money in crypto currencies then he should do more research about the coins that which coins will be more profitable and how much profit they will get form this coins. And otherwise top coins investment is very good form them 

[bliznec 22268]

Every trader who trades on the exchange exchange has such fears and this must be accepted. A person seeing the cryptocurrency price figures calculates the profit ratio in no other way. After analysis, the question arises: why didn’t I buy a coin before, because the price for the graph was low. Never be upset about this, but go ahead and analyze cryptocurrencies. 

[rchres 414]

Fear of missing out all your Cryptocurrency. Sometimes you need to lose your Cryptocurrency to learn. Fear is our enemy sometimes you need to take another step or enthusiastic in everything you do. Bitcoin is volatile learn to play the game, and be patience in everything.

[Rosepetals 407]

On 11/8/2019 at 2:09 PM, Bitxalt said:

Fear of Missing out (FOMO) is also defined as a fear of regret, which might lead to compulsive concerns that a person might miss opportunities for social interaction, new experiences, profitable investments, or other satisfying events. (wikipedia), 
actually I have FOMO problem with investing in cryptocurrencies, I am afraid of losing and afraid of being late in investing, sometimes I feel late because prices are already too high like a few months ago I want to buy YO (yobit coins) at 100USD, but I feel that price already high and might go down, it turns out now to be 1K and even had time to touch 2K. so, what should I do about my over thinkin?
is there anyone with the same experience?, hopefully get a good answer, thanks guys

I understand your fears mate,but if we will not risk we can't gain anything.Your hessitation could lead you to being stressed out.Just take it slow mate,start with little investments and invest what you can afford to lose.Investments really a risky thing  that is what we have to overcome inorder to succeed 

[Naga 1250]

On 11/9/2019 at 8:33 AM, PiroSense said:

If you're a victim of FOMO, then investing for long-term mindset on trusted cryptocurrency such as Bitcoin, that has higher chance of growing despite volatility may be better for you. 

i think we have all at some point fell victims of FOMO on some coins and i think with time we have learned our lessons and know when to invest in coins now.

[mani982 286]

From last three years when bitcoin hit 2000$ price the Fomo of bitcoin and crypto will become too high and this fomo is increasing day by day and people are joining in crypto.