In the cryptocurrency world, the true test is not in the drop in prices, but in witnessing others make a profit while you fail to keep up in time—this is the claw of FOMO (fear of missing out) at work. Many people blindly chase highs out of fear of missing opportunities, ultimately falling into the predicament of holding losing positions, as originally meticulous plans are instantly disrupted by a message of 'about to take off.' Here are three practical tips tested in real battles to help you completely get rid of FOMO.
Step 1: Install a 'braking system' for trading.
Essence: Discipline your emotions with strict rules, letting actions obey reason.
1: Before trading: Clearly record entry price, profit target, and stop-loss limits (for example: buy ETH at 1,800 USD, sell at 10% profit, stop-loss at 5% loss), and strictly execute it as if obeying an alarm clock.
2: Example: I remember when ADA stabilized around 0.5 USD, I set a buy price of 0.52 USD, a profit target of 0.58 USD, and a stop-loss price of 0.49 USD. Despite the rampant talk of 'about to break 0.7 USD,' I adhered to my principles and did not act since the profit target was not reached. Ultimately, when the price dropped to 0.48 USD, I only lost a small portion of funds due to the early stop-loss, avoiding deep entrapment.
3: Key points: Ignore 'exceptions'! No matter how much KOL boasts, if the preset conditions are not met, firmly do not touch the buy button.
Step 2: ‘Slim down the information’ by streamlining information sources and staying away from noise interference.
Essence: Focus only on valuable information and filter out useless noise.
1. Selective information channels: Keep one reliable data platform and two trustworthy analysts.
2. Set specific observation periods: Only check the market at fixed times each day (e.g., 8-9 PM based on your schedule), and turn off notifications for the trading app at other times. Avoid frequent price refreshing to prevent unnecessary panic.
3. Personal experience: I remember about seven or eight years ago, I would stare at market software all day long, watching others show their profits, which made me restless and led to entering and exiting the market at the wrong times, ultimately resulting in a blown mindset. Now, I have learned to feel my mindset, as solid as a rock.
Step 3: Use small funds to practice and cultivate a good mindset.
Essence: Light positions naturally reduce FOMO.
1. Single investment limit: Control each investment to be within 10% of total funds. For example, when having 10,000 USD, invest a maximum of 1,000 USD each time. This way, even if the investment goes wrong, the loss remains within an acceptable range, avoiding the impulse to fully invest out of fear of missing out.
2. Staggered buying strategy: When you are optimistic about a certain cryptocurrency, do not buy all at once. For example, when planning to invest in DOT, buy 30% at 10 USD, then buy another 30% when it drops to 9.5 USD, and wait for the remaining portion to buy after a pullback. This not only avoids chasing highs but also lowers the average cost.
3. Psychological preparation: Before placing an order, silently remind yourself, 'Even if I lose on this trade, it will not affect my life.' Over time, the anxiety of 'missing opportunities' will gradually diminish.
Finally, a heartfelt statement: There are endless opportunities in the cryptocurrency world. What you miss today may reappear tomorrow in another form. The essence of FOMO is 'worrying about earning less than others,' but the essence of trading is to earn wealth within your cognitive scope, rather than competing on speed. Practice this three-step strategy for a month, and you will surely thank me!
