It’s the silent portfolio killer that turns sensible traders into gamblers. Right here’s the way to battle again.
You’ve seen it occur. A little bit-known coin you ignored is out of the blue up 300% in per week. Your Twitter feed is a sea of rocket emojis and “to the moon” posts. A voice in your head screams, “You’re lacking it! It’s not too late, you possibly can nonetheless get in!” So that you rush to an change, throw your cash at it, and really feel a wave of aid… proper earlier than the worth crashes.
If this sounds acquainted, you’ve been a sufferer of FOMO — the Worry of Lacking Out. It’s essentially the most harmful emotion in any market, and within the 24/7, hyper-volatile world of cryptocurrency, it’s on steroids. However what if you happen to may perceive the psychology behind this highly effective impulse and construct a system to guard your self from it?
You’ll be able to. Let’s break down why FOMO occurs and provide the sensible methods you should beat it for good.
At its core, FOMO is a deep-seated survival intuition. Our ancestors have been wired to concentrate to what the remainder of the tribe was doing. If everybody was operating from a predator or dashing towards a…