How to manage your FOMO (Fear of Missing Out)

[Tiffany Grini 102]

On 2/14/2020 at 10:54 AM, NIVLEM said:

When you staring at a coins chart watching your coins in lowering in price, the tendency is to make panic and sell the coins. Its a common fear that causes a lot of bad decision in trading.

It happens to me all the time, especially when the amount of money is high, but luckily my husband helps me channel all that fear, that way I can make the best decisions. Because it is true the price goes down, but as it goes down, it rises again.

[Jromz 2158]

As many have pointed out, FOMO stands for fear of missing out, in the case of trading would be fear of losing a good opportunity for investing. Controlling this negative emotion is actually difficult, and trading influenced by it can never end good, especially when the price is artificially pumped as a result of manipulation. One way I have been advised to dominate FOMO is to buy a very small amount of the asset so that the feeling of missing an opportunity goes away. 

[maher salem 34]

Yes, many users are facing this panic and selling issue. In fact, we must first see our market cap positioning. If the situation is not good and the price of the currency goes down, then I suggest selling the currency, but the situation is good and the price of the currency is dropping, do not panic and wait a while, because the price of the currency will rise again.

[Logigin 45]

Personally, it helps me to overcome the fear of losing money by being distracted from this business. But this is applicable only if you have thought about entering a position to the smallest detail, opened a stop-loss and take profit positions. And then you need to use all your strength to distract yourself from trading, and do another interesting thing.

[hugo parra 20]

una de la primeras clases del trading es tratar de controlar las emociones de su inversion pero actualmente vi una moneda en yobit.net llamada gold de la noche a la mañana subio a 18000 dolares haci como subio bajo a 3000 dolares no significa miedo averse quedado en 18000  y tener que vende a 3000?

[v8088 16]

This is a part of normal life of every trading man.

Be strong.

Don't let your fomo change your trading strategy

[hassan7951 25]

Yes, honestly it's not easy to see your money going down, if you are not a professional in the matter I believe that you will be panicked and withdraw quickly, your money for that I think that to manage your fear it  You have to put one thing in your head, either I lose or I win, putting that in mind I think you will control your fear a little.

[koynayak 1923]

At the beginning of  my crypto career i lost good amount of money because of Fomo. There is something we can do we should control our emotions but it is harder than you think . We are buying some coins with our money its normal to be fear to losing money but if you sell your coins every decreasing you are losing more money .

[tunahanataccc 15]

frankly, i cant manage my FOMO. i think its good to have a fear of losing. more cautious action is taken. i also desire to win more so i am losing....

[Nicolae01 73]

The best way to manage fomo is to trade without looking at prices. Do the analysis of your graphic, look if the crypto has news, or if it reached your entry / out spot and trade. The more you trade with your heart, the more you'll lose money, I have a friend who saw a pump on his coin. It went till +98% and he said "i will see at 100%". 10 minutes later the crypto was back to +5% and he even sold it later with -2% profit. Use your head when trading. Ban your emotions.

[jonasma 68]

In trading there is a very important point that is hardly taken into account and they are the emotions and the psychology of the market, for which being human it is very difficult to handle the FOMO. I personally have fallen into the fomo and have lost money. the fomo is a highly volatile and dangerous situation

[criistianinDP1 64]

This is normal when you have no experience in the market. I used to make this mistake a lot, for the simple fact of panicking and not thinking with a cold head about the situation. Later with experience, one is forging a character and you take everything with discipline.

[ivi0476 157]

When the rate of a coin falls, I think about when it will reach the bottom and when this coin can be purchased at a cheaper price. It is necessary to sell when the coin has not reached the maximum a little.

[moeletaly 148]

On 2/14/2020 at 4:54 PM, NIVLEM said:

When you staring at a coins chart watching your coins in lowering in price, the tendency is to make panic and sell the coins. Its a common fear that causes a lot of bad decision in trading.

I close the platform and the internet and go out talking with my friends or play pubg mobile with them 😂

[awwad 74]

When I trade I adjust your order and put my stop loss, then close platform and doing anything else. 

[Cryptoinvestor 25]

Just try to create your own trading strategy which you can then use to manage your trading. This can help you to get good profit, feel more confident and of course completely forget about being afraid of missing out.

[Omar1234H 148]

thank you very much! It is very complete information. The selling panic is common because emotions come together, we must control them so as not to be afraid

[YOSEF678 15]

This is one of my main problems but i'm just but i'm just trying to close the trades with profit even if it is 1% but i still profit and much better than losing!

[Puzcoin 17]

If you are suffer from a big FOMO due to wrong trade, then just remember one simple note - joy from profit is less than affliction from loss. So don't waste your emotions to FOMO suffering and better think what you could do for right action in next same situation.

[carybe69 74]

I met that concept or word FOMO these days on a website. The fear of losing everything, that is a feeling that is always present, in my case, in the operations that I carry out with my cryptocurrencies. In particular, when it comes to feeling the "FOMO", the best thing I have done is to leave everything, take a break, have a coffee or water, think cold and analyze things calmly

[Oscar Polanco 66]

That is normal, to control that fear you must first know how to trade and be sure of what you are doing, because if you enter to trade it is because you know how to do it well, but there are people who simply want to make money but know how to do it, they do not have enough knowledge to that and therefore lose

[Yuberperdomo 28]

You're right. It is a moment of despair in which there is nothing to do. For this you need to think very well what you will do ... Many times we sell quickly and the next day it goes up exaggeratedly and we do not regret what we did. That is why we must think very well what we are going to do with the currency

[Alfonzuelo 25]

Reading books about trading aimed at the psychological and emotional side, can also be useful to have some hobby, for example I know a friend who practices martial arts and meditation and told me that it has helped a lot to improve their calm and control.

[minoooo5 76]

Setting panic among cryptocurrency traders is a bad thing as the traders sell their cryptocurrencies at a very low price. So then we are looking at our market cap situation. If situation is bad and coin price going down then I suggest sell the coin but situation is good and coin price going down then don't be panic and wait some because coin price again will go  high.

[Matias Conforti 89]

It is very difficult to handle this, because it makes you feel a fool if you do not enter, it is complicated at the moment, I think many of us have fallen into this trap, I particularly remember a Bitcoin Cash pump that made me lose a lot, all for acting under the influence of the FOMO, I think it would be best to place good Stop Loss as a precaution