NEVER trade off of emotion!
(FOMO) - Fear Of Missing Out
Usually people that trade off emotion lose money and never HODL because they follow the coins that are shooting up (pumping). The smart action to take is to buy low, coins thats are dropping (dumping) in order to get more shares/coins/tokens at a lower price with the same amount of capital.
If you have $1000 USD and (anonymous coin) is currently priced at $1 and you see it pumping, WAIT because it will dump. Law says what goes up, must come down. So if you bought (anonymous coin) at $1.00 with $1000 USD, you would have 1,000 coins/tokens. But hypothetically speaking if you waited for (anonymous coin) to dump, lets say to $0.50 and you had $1,000 USD, you would be doubling the amount of shares you bought to 2,000!
If the coin hit $2, and you bought it t $1 with $1000, your total holdings would be $2000. BUT if you bought the coin at $0.50 with $1000 and the coin hit $2, your holding would $4000!!
TRADE SMART, NO FOMO!
I agree. Even myself knowing that basic understanding of trading (buy low, sell high), it's sometimes nerve wrecking to see a coin shoot up 200% within a couple days when you're expecting or hoping for a dip to occur soon. Sometimes I just take the plunge and go for it (based off emotion) and it has cost me greatly or has actually made me some good profits. Either way, FOMOing is a huge deal with cryptocurrency since a day in crypto feels like a month.
it can definitely get the adrenaline pumping and cause you to make impulse decisions!
Well spoken at @brandonsclera your the boss what goes up must come down that is the kaw of nature
Yessir, everyone has to learn this to be safe and increase the rate of successful investing/trading in cryptocurrency!
Definitely agree with this. A family member just bought into bitcoin few days ago, scared of missing out on the rising prices. Then got scared after the big correction and exited out at the bottom. Big loss, and a horrible first experience for them. I keep advising people to take a long view for their first experience with crypto, just see and learn how it works first!
BITCOIN as of now is very volatile as the large coinholders and hedge fund investor were manipulating the tide of the trading . It's the season of Christmas , all coins were on a dump . Pretty Sure at the start of January Bitcoin and other currency will soar high again
I agree completely, i believe Steem and other coins including Bitcoin are going to surge to new highs!
I agree , but how would you know if it already reached it maximum lower value ? are there signs that you might be able to see or are there any patterns that you might recognize that it is the real deal already?
Yes comparing statistics of other social medias, growth rates of steemit, growth rates on cryptocurrency in general and value from the company, Steemit offer true value unlike other social medias and pays you, its going to the moon!
@brandonscalera thank you appeal to @sportic. Your post will see more than 7K of my followers
thank you!
So true