Quote from: Radientgurkin on April 22, 2018, 12:16:02 PM

Quote from: jnns on April 22, 2018, 11:41:41 AM

Fear of missing out is familiar to many.
It is known from psychology that fear-based factors also affect people in the crypto market, emotions drive their choices more than intellect.

How have you dealt with FOMO?

Interesting thread.

It's very easy to get caught up in hype and FOMO.

In regards to dealing with it, I heard some good advice last year about altcoins which has saved me from alot of headache: If the coin has already done a huge exponential rise recently, you're already too late.
Summary: Never jump on after you see a big move. This would be based on emotion instead of strategy. Train yourself to not follow these urges.

This is the best advice. If the coin is up 10% - 20% don't buy. It has already risen, you are too late at this point. I have made many bad trades due to fomo, and have learned from them since. And I've done better because I have avoided it. Nearly every time i've fomo'd in, it would rise another 1% then drop at least 10%. Risk v Reward is not worth it.