"FOMO" (Fear Of Missing Out) has burst into the world of cryptocurrencies like a tsunami, sweeping away everyone who is not holding on to the side. This fear of missing out on something important is the main enemy of any investor. It pulls at the sleeve when you need to be cool. đ
FOMO is an ancient instinct that makes us slaves to our emotions in our time. In the crypto market, where prices jump like crazy, it makes us make hasty decisions that result in losses. đŁ
Tips to combat FOMO đĄ
1. Portfolio division: đŒ Divide money into long-term and quick speculation.
2. Profit-taking: đž Seize the moment, but take profits as the asset grows.
3. Buy in parts: đ Break your purchases into several stages to reduce risks.
4. Using limit orders: đŻ Set limits and avoid impulsive decisions.
5. Long-term Bitcoin ownership: đ Bitcoin is your long-term friend.
6. Keep a trading journal: đ Learn from your mistakes by keeping a trading journal.
7. Consult with professionals: đ€ Ask a pro for advice.
Who beat FOMO đ
Warren Buffett: đ Believes in the long term and ignores market noise.
Roger Babson: đŒ Advocates fundamental analysis and long-term planning.
Anonymous Bitcoin Millionaire: đ€ Held Bitcoins Through Market Swings.
How to find inner balance đ§ââïž
Want to beat FOMO? Develop emotional intelligence to keep a cool head in the heated battles of the market.
Everyone is unique, so don't copy other people's strategies, create your own:
Define your financial goals đŻ
Assess your risk profile đ§ź
Develop an investment plan đ
Review it regularly đ
Social media is fuel for FOMO. They add fuel to the fire by showing others' successes. Limit your time on social media, unsubscribe from alarming accounts, and focus on your own achievements. âïž
