What is FOMO? Why can a trader or anyone be affected by FOMO? - Only4Free - Cryptocurrency Connection

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What is FOMO? Why can a trader or anyone be affected by FOMO?

What is FOMO? Why can a trader or anyone be affected by FOMO?


What is FOMO

In the present era, FOMO syndrome is a serious problem in society, not just financial investment. Once caught up in this syndrome, people in general and Trader in particular will "dive" into things that are not clear, leading to unnecessary or tricked costs, or things that have gone beyond the real value of it, causing yourself a serious loss.

Let's find out the FOMO.

What's FOMO?




FOMO is a short note of Fear Of Missing Out, understand is afraid of abandonment, miss. FOMO is a short note of Fear Of Missing Out, understand is afraid of abandonment, miss. People with this FOMO syndrome often have a feeling of fear that they will miss something. This feeling haunts people that people around them will achieve something that they do not. From there, this syndrome prompts the person to take certain actions at the time of irrationality, resulting in erroneous decisions that have little or lot of effects.

FOMO in the Real Life


With the advent of technology, the FOMO become syndrome worse. Typical examples of FOMO as young people are constantly checking facebook to not miss the information from friends, from movie stars, music. This miss makes you not know the "hot news" to join "Talking" with friends, although not all news is important.


Another manifesto of FOMO is trying to buy a new iPhone in the fashion of buying iPhone, although not using all the features or features as the current iPhone. You will be FOMO because you are afraid that everyone will have a new iPhone that you do not. Then sacrifice a few months salary for the iPhone that you just use to hear, call, sms and check facebook.





FOMO in the field of investment. Explain why Trader always lose money.






Trader is also human, so it is definitely a FOMO. FOMO is a psychological syndrome, in which trader suffers psychological burden almost every day, so FOMO in the financial investment can be quite serious.

A recent hot investment channel is Bitcoin. Bitcoin price suddenly increased several times in a short time. This makes Trader or investors who have not bought into Bitcoin "jump" to jump in buying for fear of miss a strong trend of increasing Bitcoin in the future.

FOMO has ever "killed" the world financial market many times in history. Most recently, the dotcom bubble invested in internet companies in the US in the 2000s. At that time, everyone was afraid that I would miss this wave, then jump into buying drastically. After the dotcom bubble broke up, many internet companies turned to real value zero, causing most investors to lose money and go bankrupt.

FOMO syndrome in Vietnam we see is waves of investment in stock market in 2007, gold in 2008 - 2010 and real estate also in 2008 - 2010. After each wave, FOMO investors who do not understand but just jump in by fear of missing the opportunity to lose.

There is a famous saying among investors: "When the market is greedy, it is time to leave the game" because that is where FOMO syndrome broadly impact the market, causing the market become a bubble.



How to use FOMO to cheat?



Organizations or individuals use this FOMO syndrome as a way to scam. They bring victims to seminars, draw up new technology or investment channels, then give the "birds prey" each other to buy or invest. The victims of psychological weakness, lack of knowledge, experience should be immediately FOMO, afraid of missing the opportunity to become billionaire billionaire, so hurry down investment, suspected somewhere is the trap.

All things like great seminars, customers jostle, new technology ... are things to create FOMO syndrome only.



How can Against FOMO?


How can Against FOMO?

Obviously for us, it's hard to recognize FOMO, that's not to say against it. However, not the deadlock. Try some of the following


1. Ask yourself if this is realistic?


If an investment channel offers "heavenly" interest rates, you should question whether it is realistic. If the interest rate is double the bank is starting to find it unrealistic.


2. From a legal perspective


Fraudulent FOMO users often entice you into investment channels that are not legally recognized or even illegal. So, please check the legal basis before Investing your money.

3. Examine the incivility of those calling for investment


Because of the psychology of FOMO, scammers often dress up politically, express wealth, understand, and compose stories from poverty into wealth, to make you think about why they I can not do, from which to urge to invest money.

So, FOMO is very dangerous for society in general and financial investment in particular. Identifying and "self-curing" FOMO is essential. If this is not the case, you not only fail to invest but also in everyday life.

You can check more information about FOMO from here

Tags: what is fomo, affected by FOMO, crypto news, fomo is scammer, how to prevent fomo


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