Avoiding FOMO as a crypto trader
FOMO is something that tends to occur among many traders and you really cannot totally blame the traders who experienced it..I am here to just share quick thoughts on how I think we can avoid FOMO..
To avoid FOMO , we end fo first oof all understand the fact that FFOMO is just a thing of emotions and it can be dealt with or controlled , learn to always stay calm no matter the situation of the crypto market at that moment..
Learn to always be patient when trading, learn to always be willing to enter a trade at the right time which you have set for yourself and not what others set for you or advice you to set..you need to build a strong mind with confidence , believe in the abilities of your knowledge and yog will have the confidence to know that you can succeed at the market at any situation and at anytime..
Another way you can avoid FOMO is that you should always be aware that there will sometimes be losses when trading crypto,
When you have the mentality that there will be losses sometimes when you trade , this will make you to understand that there would also be missing opportunities and whenever an opportunity is missed , you won't bother yourself too much or engage in FOMO..You have to prepare your mind that losses and gains are all part of the crypto trading and it is a bitter pill that you just have to swallow..
Another thing i think we can do in order to prevent FOMO is that we should be able to analyse the market charts effectively.
Knowing how to analyze the market would give you the opportunity to be able to get the right timing into the market and you will not need to engage in FOMO before you can be able to make profitable trades on the market..A great market analyst would be able to have more information on what might happen at the market at a certain period of time , this would make the trader to always be prepared for various events on the market without FOMO...
Another thing you can do to avoid further FOMO is that you should think deeply about the past experiences which you had on your last FOMO , was it a great experience ? I doubt..if it was not a good experience , then learn from it and see how you can make sure that FOMO do not cause problems for you as a trader..
Posted Using LeoFinance Beta