Dinar Exchanger
Nov 4 · 2 min read

Crypto FOMO | How does it affect the trading decision?

FOMO is a pervasive apprehension or anxious feeling of being missing out on what others are having. It is a strong desire to remain connected with what others are doing around you or in society.

When you sick, still go to college concert or check your WhatsApp, scroll your Fb and Instagram wall, again and again, to see what your friends are doing. You are suffering from FOMO. In all, it is a personal thing.

“Dan Herman claims to be the first to identify FOMO phenomena in the 1990s.”

You can apply Fear of Missing Out (FOMO) to any situation, yet the term is ubiquitous in a trading ecosystem. A probability exists that you may suffer fear of missing on the jackpot that your friends are enjoying following their Bitcoin and crypto investment. But be aware it may affect a rational decision in two ways.

Fear of missing out on profit may lead you to buy cryptocurrency instead of gaining profit on it. You may purchase a coin that is already touching peaks. Yeah, it may knock your head at some point that fair profit earning or waiting for a re-entry point would eventually lead you to miss out. This FOMO may cause you to invest in a currency at heights of it, ultimately decreasing your profit or causing you to lose it at all.

So, what? Your emotions limit your rational decision taking you to downfall. The other factor is you may act rashly as Laszlo Hanyecz and buy pizzas via emerging cryptocurrency besides holding it for a certain period — six months to a year. Your this hurry will undoubtedly affect the profit that you can earn after a time when it gets stable.

So, how to combat these trading mistakes?

You can simply avoid these mistakes by keeping your emotions off while making a purchase. Stay stick to your strategy, and always keep a keen eye on the coin’s chart. If you think that the coin price will drop, wait for a dip and invest at that point rather than buying when it goes highs.

Don’t let FOMO affect your investment decision. Stay irrational. Also, don’t forget to follow Dinar Exchanger on medium and other social channels to consume fantastic content.

About Dinar Exchanger:

We at Dinar Exchanger (DINEX) not only aim at providing you an ultimate trading platform that is highly secure and user-friendly. But, we also strive our fullest to lead and educate you with essential knowledge and information, so you don’t let any fear (FOMO) or uncertainty to affect your investment decision.

Dinar Exchanger

Written by

Dinar Exchanger (DINEX) is the first global cryptocurrency exchange that provides a platform for trading buy/sell Dinarcoin (DNC) with other crypto

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade