Meme traders are the most emotional traders in any market.
Here's why:
- They never sell.
- They are influenced by the opinions of their favorite authorities.
- Their decisions are often based on FOMO.
- They form an emotional attachment to specific coins.
- They act impulsively.
- They hold onto losing positions, hoping that prices will recover.
- They often follow the crowd, guided by herd mentality rather than their own analysis.
To increase your chances of success, do the opposite.