FOMO is not good at all times!

[masterrex]

Im doing day trading in a big and very popular exchange. when im starting to trade in the particular token. the green candles is going crazy filling up and because i was not ready at that time i feel the FOMO thats why i buy too until my internet connection has a problem thats why its lagging. for a minute when i refresh it. the price was dump already and followed by red candlestick i was left a bag holder. since i have no choice i have to sell it at lossing price. ive learned that FOMO was not good at all times. What are causes of this??



Note: Im already posting it in the other forum!

[Tristanerus]

Im doing day trading in a big and very popular exchange. when im starting to trade in the particular token. the green candles is going crazy filling up and because i was not ready at that time i feel the FOMO thats why i buy too until my internet connection has a problem thats why its lagging. for a minute when i refresh it. the price was dump already and followed by red candlestick i was left a bag holder. since i have no choice i have to sell it at lossing price. ive learned that FOMO was not good at all times. What are causes of this??



Note: Im already posting it in the other forum!

It seem you're just count as one of the victim of "FOMO" and that is your lesson that might you bring for the rest of your life. You may still get it back your asset, if you invest in bitcoin then its declined now, just wait and soon it will get back to its hype and make its price surge again.

[sturec22]

FOMO is really risky and when huge fomo enters the market it is obvious that the market is turned into a gambling platform. Technical analysis stops working, the targets do not work, it is just you and gambling.
It is better to stay out and watch for the important turn points.

[abdmuiz]

My advice is that if you want to trade, trade on coins or tokens that have a large market capacity and are recognized by investors proportionately so you can choose not the risks that you will experience

[hope167]

absolutely with you, do not fomo when some token increase the price because when you fomo you can be buy a price at top and losing your money, so calm down and observe the market

[MrSpasybo]

FOMO is inherently an attack and manipulation, some traders can take advantage and make a profit but the rest of the market will lose out and lose money. We need to remove FOMO to protect the community & the sustainable development of the market.

[ZionRTZ]

I believe this is not the first time you've done this but it's never good to FOMO. There's little chance that you'll gain a good profit. Never catch a flying knife. Any pumped coin or token will be dumped immediately.

[Delgboke]

I think fomo always happen when there's a huge number of investors in one particular cryptocurrency because of the announcement because of the high rate of crypto whales that's why you need to be at alert if they announced that fomo will take place in order not to miss that opportunity of selling your coins, if you have that particular coins so you need to study the market and when the time of fomo in order to be able to sell this are the things that make up fomo.

[zendicator]

They say that trend is your friend until the end. FOMO is better if you are a day trader meaning to say that you will not hold your altcoins for more than a day. You can create a profit in FOMO situation by scalping on it but it is not recommended because it is very risky if you are a newbie,

[muneerashine]

Why don't you wait for sometimes , market  is unstable nowadays, If you invested in Bitcoin it will surely rise in price again. Someone just took a profits and pretty sure  it will turn back to green candle again.

[masterrex]

I believe this is not the first time you've done this but it's never good to FOMO. There's little chance that you'll gain a good profit. Never catch a flying knife. Any pumped coin or token will be dumped immediately.

Yes you right buddy It was not my first time to do it buying in a sudden pump because i made some profit before thats why its a clear FOMO since usually i do make a charting strategy when i trade, im comparing with all available data the RSI,SMA,EMA reading signs and sentiments like "doji, shooting stars and hammers, specially the crossovers"! But as i mentioned in my thread also just a minute interval because my internet connection was lagging. after i refresh massive red candlestick surprise me. and it continueosly dip thats why i decide to sell at lose. I confirm truthfully that Fear of Missing Out!or FOMO affected my desicion. thats not good either.

[aiviaa485]

until my internet connection has a problem thats why its lagging.

It's also wrong to follow FOMO because you give your trading soul to someone else and finally you follow what they say.
Then look at the words above that I have BOLD, it is your fatal error because it is very clear that it is purely your fault and the internet provider. Hmmmppp 

[ComeBack]

It's really hard to ride on the FOMO because most of the time when I was on trading and new here in crypto too I was really having a hard time trying to understand why some people are really saying to me that I should not let the FOMO get me instead learn to wait for the right time.

[gotbounty]

Following FOMO is not a bad idea but it surely doesn't work at all times. That's why you are better to do research deeply before deciding to buy or selling your assets. Crypto market is volatile and unstable, the prices can move very fast only in a short time.

[sampoerna]

Fomo will commonly lead to only following the situation. It may not be good for somebody with no good stratgey. Fomo may lead someone to invest or buy certain coins because of hype. Be yourself on analyzing the coins.