Every trader should understand this fact - FOMO is the fastest way to lose money. First of all, we need to know the meaning of FOMO and it stands for Fear of Missing Out. When the price of a coin is continuously increasing, we get panicked and we think that if we don’t buy this coin now, we may have to pay for it. We are missing out on a big opportunity, so we panic and we rush to invest in that coin. Then, when we buy the coin, the price of that coin drops by a huge amount. If you look closely, you will see that most of the coins are down up to 90% after creating an all-time high. This means that those who bought in that position have now lost 90% of their money.
[source](https://pixabay.com/photos/stock-trading-monitor-business-1863880/)
When the market pumps, buying at the top only sets you up for losses. The real skill of trading is patience. The market always moves in waves. Every sharp rise is followed by a correction. That correction is your best entry point.
Smart traders wait for the dip, set limit orders and buy on price instead of chasing the green candles. Profits are built in calm moments, not panic. Regularity in entry is what makes accounts grow consistently.
The rule of thumb is clear: don’t buy when the crowd shouts “pump”, buy when fear prevails and the price is red. That’s where the real profits are made.
Trade smart, be patient and let the market reward you. But it is also true that we need to be a little patient. Rather than taking a few trades every day and losing money, we should take one or two trades every week when the market opens up. When the price of a point starts to rise, we should think twice about investing in that coin. Because it can be a trap for us. So we need to be patient and wait patiently to buy the right coin at the right time. If we can pick and buy coins correctly and avoid FOMO, the market will definitely reward us.
