FOMOOOOOOOOOOOOOOOO<\/p>\n
What does this word mean?<\/p>\n
Today we’re going to explain a term that you surely read often, but that also has a deep meaning in the psychology of every trader. This feeling that you will feel deep inside will be a mixture of discouragement, anger towards yourself and frenzy to jump on the market without ifs and buts, without thinking and without having any regard to money management. However, this emotion of envy you’re feeling leads you to follow some advice that could be bad for your wallet. Now let’s face it, social media are fake. <\/strong> When we see these millionaire kids, their success is exaggerated to sell you one of their products. Now back to us, generally the rule to earn is buy low and sell high, which is very logical but in most cases if a stock is low, mentally evaluate the situation as negative, if it is high it is positive and you think it will go up again. You’re acting on the urgency to do something and that’s not good because as you know deep down, returns are not guaranteed. FOMOOOOOOOOOOOOOOOO What does this word mean? Today we’re going to explain a term that you surely read often, but that […]<\/p>\n","protected":false},"author":19,"featured_media":2677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56,57,60,70,71,73],"tags":[],"yoast_head":"\n
\nFOMO means fear of missing out<\/strong>, and we could translate it as fear of having missed an opportunity, sometimes unrepeatable.
\nWe can also see it as a social anxiety for having missed an interesting and very profitable investment train.
\nFomo is one of the many biases working against you.<\/em><\/p>\n
\nIt’s a feeling that is present especially now in the social media era, thank to the continuous updating of what other people are doing, the lifestyle that the social media of certain characters are selling us and their wealth.
\nYou see on twitter and instagram unknown kids becoming millionaires overnight, driving around Dubai sitting in bentleys and surrounded by fabulous models, all accompanied by articles and pictures of their bank accounts at various zeroes.
\nAnd you’re in your bedroom, in your underwear, guzzling a cola. It’s obvious that you want to do what they do and have their lifestyle.<\/p>\n
\nRight now you’re susceptible to those articles in blogs with titles like “the 5 coins you can’t not have in your portfolio” or “XX’s untameable growth” or “expected 200% return with YY”.
\nTo which we have to add all the messages that you read in the various chats, which promote things never heard that in most cases are scams.
\nAnd then you enter in the optics that “now or never” on some unknown coin, you buy it exaggerating and you throw away all your past gains.
\nYou don’t have to do that, it’s not a competition and you don’t have to buy things that in a normal situation you would have never bought.
\nAnd on top of that you are left with the anger of having thrown money away and you can only take it out on yourself.
\nThis is why we talk so often about managing emotions and anxiety.
\nIf you had stopped to think, none of this would have happened or you would have allocated a much smaller amount.
\nYou’ve gone overboard with your level of risk<\/p>\n
\nThey are a mirror of what we would like to be and that we somehow make others see. But that we are not.<\/p>\n
\nMost of the successes of those we follow on social are exaggerated narratives.
\nThe cars, jewelry and private planes are definitely rentals and the incredible models are only friends of their cousin or prostitutes.
\nNone of these champions talk about their mistakes and losses but all they talk about are the victories and the fantastic billions they are making. Some even get paid to foment fomo or to sell scams or useless courses or useless books.<\/p>\n
\nThis is possible, but what if the uptrend is over?
\nIf everyone is rushing to buy Ethereum after a 200 percent rise, you are compromising your risk level just because you are following the crowd, you are following the hype.
\nAnd the hype is the enemy<\/strong><\/p>\n
\nThe fomo, the frenzy doesn’t make you think rationally and doesn’t deepen what you’re putting your money on.
\nIf you get caught up in the frenzy to buy after you’ve seen a post on some social, stop for a moment and think
\nwho is making the post on social networks? Is he a serious and reliable person, is he an idiot?
\nIs he someone who knows something about it or is he a bum with no experience at all?
\nThese questions can stop you from making some careless purchases.
\nAnd always remember that limited time windows in most cases hide nasty surprises.
\nI don’t doubt that some of the axles being touted could be the new Tesla, but being cautious is always best.
\nYou might feel like an idiot for missing an opportunity or will you be an idiot for losing all your money?<\/strong>
\nKeep calm and study.<\/p>\n","protected":false},"excerpt":{"rendered":"