How To No Fall For Hype
In this article I will be giving steps on how to stop the urge of falling for fomo (Fear of missing out) , on cryptocurrencies or any stock/ETF trade, whether they're new launches or hype has started to pick up on them again.
This is a very crucial guide for investors - Swing traders however have the upper hand if they're after a few extra bucks (and if their timing is right)
Guideline
1. Presale
Try to stay away from presale tokens especially if you haven't bought them at the presale event, %99 of presale investors sell at launch (most of them are swing traders) so it's acceptable to understand they're trying to make their money too.
Another reason to be wary of presales is the fact that the project hasn't launched yet, especially when they have a long time period on releasing the token and if it's the only money that you're able to lose that you're planning to invest with, there a tons of tokens releasing every day and you'll have a better chance of swing trading and making a few bucks here and there. Remember to always take profits.
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2. Fake Engagement
This one is a bit tricky but once you've been in enough projects you'll start picking up on the signs, if you see a project that has for example 3000 holders/investors and 45000 members in their community, 150k followers on X and everytime some news pops out there's a massive pump after it, it's most like that the party that's happening in their community on telegram or discord are bots and the "mods" are paid people to keep the "new investors" interested in the project by giving little to no details on whatsoever.
3. Team is nowhere to be found
This is really crucial, even if it means missing out on a pump sometimes do not invest in a project where the team isn't active, whether they're doxed or not the team leaving the work for the mods is a red flag, %99 of the time these projects are slow rugs.
The other excuses may include; The dev was at a party, playing golf, took a rest.
Wait, this "dev" just launched a token. I can skip past the first 2... even though the first one might mean "the dev took all your money and is partying" but is launching a token that hard they need to rest?
. FUD (Fear Uncertainty Doubt)
Look at the projects engagement style, do they attack other communities, does it seem they're constantly involved in drama somehow?
You won't only be losing money these types of communities but also your time, unless the token that has FUD like everyone's life depends on it is pumping, stay away from it. Remember to always take profits.
5. Missed Deadlines
It's one thing getting the community hyped for certain events, it's another when the deadlines keep changing every single time.
If the devs set dates that do not get met each time, they're either not responsible for their own project (They pay other developers to build for them - This is okay as long as the devs are honest about it)
The devs are just stalling and playing around - If the project you were in is pumping or you're in profits, take your profits before they do.
6. Copycat tokens
This one is the obvious but copycat tokens, we all know the original pepe and then the 1000 pepes that launched after it, not saying those 1000+ pepes are a fake or legit or whatever (although pepe was just an example) copycat tokens only sell for 1 purpose especially from the start and it's due to the nature of it's title, if you do happen to buy into any token that's a copy of another remember to take your profits whether it's $10 or $100.
Conclusion
This is what I was able to put together, if there are any other points to look at to help us to not fall for hype or fomo please drop a comment.