Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Domithra on July 12, 2019, 04:14:51 AM
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It is well known how many are too desperate to make profit in crypto. Because of this, crypto participants will enter any avenue in order to earn some coins irrespective of the status of that avenue. This desperation has led many to enter scam projects unknowingly.
One of the most recent concerns is the high turnout of enthusiasm towards FOMO and crypto signals. FOMO can be beneficial especially when seen early and as the same time can be a bane to an investor.
Following FOMO all the time ceases an investor's ability to make proper market analysis, hence may enter either a scam project or buy the peak of the surge. Let's endeavor to exercise patience and DOYR must be the standard guideline.
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FOMO is market manipulation, I never follow it even if it can cause crypto prices to rise and some people earn profits. However, FOMO bubbles will break and most investors will lose money, they will no longer support crypto, anti-crypto media have the opportunity to speak up and the crypto community will be face to the hards in every way.
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Indeed, at the end of the sentence that became a taboo was "DWYOR", this word was very much a mystery for all investors cryptocurrency.
I even have a lot of backsliding in joining FOMO, if FOMO says to buy then I sell it and vice versa. #Dwyor
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Thats right FOMO is not good at all times! I can prove it because me also has experienced loses because im desperate to earned a few bucks affecting my strategy on doing trading. Be careful of riding with FOMO.
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I don't find any good side of FOMO. It's totally bad. When you FOMO, you're not wise enough to give decision. Eventually, you only bring money to other people. Risk takers see FOMO as opportunities to earn money but they don't know that after all they're just FOMO creators' victims.
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an adage said that a patience dog eats the biggest bone. Most traders have loose there money due to pump and dump groups, others have lost out because the issue of FOMO.
No matter how you preach to people to be patient on trading some will always fail out to fear of looseing. that the experience of trading.
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We should be careful with FOMO, its not always good! I can also prove it because I have suffered a loss. That's due to my eagerness to earn a few bucks in my trading strategy.
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It is well known how many are too desperate to make profit in crypto. Because of this, crypto participants will enter any avenue in order to earn some coins irrespective of the status of that avenue. This desperation has led many to enter scam projects unknowingly.
One of the most recent concerns is the high turnout of enthusiasm towards FOMO and crypto signals. FOMO can be beneficial especially when seen early and as the same time can be a bane to an investor.
Following FOMO all the time ceases an investor's ability to make proper market analysis, hence may enter either a scam project or buy the peak of the surge. Let's endeavor to exercise patience and DOYR must be the standard guideline.
Hi friend, firstly "FOMO" is an abbreviation for the word, "Fear Of Missing Out", that has being regularly used to mean a quick rush to participating on crypto buying and selling market situation when there are indications of bull market for a long period. I think there ate gain or loss on both ways, that is, whether people are buying or selling, it is a normal market activities, and one can not be 100% safe in which ever ways you decide to look at it.
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Indeed, at the end of the sentence that became a taboo was "DWYOR", this word was very much a mystery for all investors cryptocurrency.
It is not a taboo word, it is a common word to understand by investors. Every effort should have risks in the crypto world. ;D
Anyway, I prefer to not follow FOMO because it has high risks. FOMO means you decide to buy because of fear to not buy at the time. It must be less of analysis.
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If you bought your coins before Fomo starts yeah it is good for you. But remember to sell them :) If not, always be careful when there are high price fluctuations. Only a few people earn money for the sake of Fomo, and the rest loses.
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Only a few people earn money for the sake of Fomo, and the rest loses.
Even all those who were caught in the trap by FOMO because even if a Whale caught in a high price must be brave to Stoploss.
FOMO is very good when it has a token at a low price and sells it at a high price or when the FOMO already exists.
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Do not fomo, but actually we can check the graphics and if the rise is in the beginning, it is just crossed ma21 ma50 etc. then we can buy and put a sell order to ma144 for example.
Also, stop loss is vital otherwise we would get rekt.
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If you bought your coins before Fomo starts yeah it is good for you. But remember to sell them :) If not, always be careful when there are high price fluctuations. Only a few people earn money for the sake of Fomo, and the rest loses.
Being a holder of the coin before FOMO starts is always advantageous, thus the positive side of it. And it is up to the holder to recognize the FOMO, know the trend. anticipate the peak and know when to sell in order maximize profit because after following each FOMO is a massive drop in price which will take quite a good number of months for the coin to recover.
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FOMO is the opposite of FUD, both of which are commonly used to help market movements by whale games,
if FOMO is used at the right time, the market movement will be even greater,
then whether FOMO is good or not, it all depends on how we react and how mentally someone responds to FOMO.
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FOMO in the market is a normal phenomenon. And who immediately came prepared for this market and did not suffer losses? Everybody dive with his head in this market when he sees a growing one or another coin, and many then remain without money. This experience is invaluable and each time there will be new FOMO. You will not do anything about it. Eventually, big players pour big money into advertising to delay new players on the market
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If you know that the market is in FOMO and you are ready to sell I think fomo is a good thing for you.
But if you are in FOMO and do not know what you are doing, probably you are buying at the top and you will be losing money.
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FOMO in the market is a normal phenomenon.
It is a normal phenomenon but shouldn't be followed because it has too high risks. You are better to join a project or buy a coin because of your research, not FOMO. I don't see a good advantage by following FOMO. Since it may make we are trapped at buying high rates.
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Well, that's right. Fomo may only give good ideas about the new coins that many people are looking for or interested mostly in the coin at that time. But the bad side is that probably the coin maybe not as good as enough. Therefore, the chance of the coin to grow is small and then leading to be shitcons.