Post
Topic
Board Trading Discussion
Re: Fighting your own FOMO
by
tomahawk9
on 24/09/2018, 11:36:18 UTC
What sort of psychological tricks do you use on yourself to combat your own FOMO?  Do you still get your own FOMO hitting you when you see a coin blowing up all over the place?

I've learned over time not to give in to emotions, sometimes you learn how to do this the hard way, sometimes you just need to stay focus and act rationally even if it means missing out a great opportunity. Fortunately, this market is always testing your emotions so you can "practice" not letting your emotions dictate what you do in this market. For intance, XRP recently went up like crazy, a few years ago I would've FOMO bought during the uptrend, this time I made a rational decision of not buying during the spike and just wait until it cools down. Looks like I made a good choice given how the price has started to go down.

Experience will teach you not to let yout emotiones takeover your rational thinking, as times goes by you'll also learn to spot obvious pump and dumps which are the ones that get pumped all the time in order to attract to newcomers into FOMO buying.