so yesterday i loaded up on both shiba and doge during those dips because i saw those before when doge was about to pamp there was almost always a quick dip that rebounded right after later today doge and shipa spiked with all the pamage going on around twitter i watched it until it hit 17 and stalled and i had a feeling that it was the end of the run and alot of times i am relatively good at seeing where the top is but i dont exit the trade because im assuming that what FOMO is im afraid that if i sell and it skyrockets to alot more because few times that happened to me i exited too early but even when my rate is around 80/20 or 70/30 and the number of wrong exits are very few compared to the number of exits at the right time i still cant get myself to sell because i always feel that what if i miss out on a massive spike right after i sell.. i dont know how to work around that unfortunately because the youtube i only found videos about fomo when buying at the top of the run not when selling
Hello mute9003, Just keep on trading, you will eventually figure it out. You study Long, you study wrong. Scared money, never makes no money. Take all the trades and hope for the best and get some rest. That is all you can do buddy. The PnL is the only teacher.
Ugh. Doge? FOMO? Yes, I think you do indeed have a problem there. I think I know one solution. Remember that Doge-the-meme boy guy? He was a millionaire 3x over and decided to still hold onto his Doge despite winning the lottery ticket. Guess what? He's no millionaire anymore. Let that sink in.
doge is just the latest of my trades that i held through the top and didnt sell there was maybe like 3-4 times where i sold in the begining of a massive spike and watched it run up to like 7 or 10 bucks after i sold at 2 or 3 after that i cant reverse that stupid fomo setting and now i ride the tops and not sell and end up in negative almost every time how the f do you get rid of this?
You never will figure that out, unfortunately. You have to see it on the other side of the equation, too. When you are in a downdraft, when is the right time to pull the plug on the trade at a loss, for fear of missing out on a rebound and losing not as much?
i ran up the doge last time also from 20 cents to the 90 cent peak when it was happening and watched it peak and fall off and also froze and didnt sell even though i did correctly spot the top at 90 or whatever it was i even had the sell order entered and was holding my moouse over the sell button but couldnt do it.
well i usually hodl until a rebound.. i held DPW for almost a year at a loss and sold at 6000 profit after a year.. im good with short term trades and hodling but i suck at medium timeframe trades ( days to weeks length) i get twisted in a know waiting for it and end up sabotaging myself lol but if i know it will be a while before it rebounds i stop worrying about it and put it on a top shelf
That's because you're a B&H type. So there is no timeframe for you. It is very difficult to be a long-term and short-term "trader" at the same time.
yes but doesnt work all the time i was doing relatively good and tehn i had few small losses back to back and one big loss after that really screwed me up and i donno how to get out of it