02-11-2021, 12:41 AM
Checking Coinmarketcap every 5 minutes is an easy way to get FOMO and lose money
<!-- SC_OFF --><div class="md"><p>When you're checking prices on crypto so frequently it's really easy to fixate on a coin that is doing particularly well today and start to develop FOMO about it. This is especially bad if you're portfolio hasn't moved much lately. But don't forget that often when a coin is up 50-100% in a day, it'll even out and probably come back down. And it's the worst feeling in the world buying at the top of a coins price and then seeing the coins you've cashed out of earlier moon the next day.</p> <p>There are plenty of great projects out there and just because the cryptos you've got aren't mooning doesn't mean you should sell and put you're money into one that is. A lot of the time major price changes in a day are from pump and dump groups.</p> <p>Try to take a step back from checking prices so that you don't start to fixate on the coins with crazy movement. There's a good chance your picks will rise too in the coming weeks in this Bullish market.</p> <p>It's super important to pick cryptos that you see the value in and hold them for the long term. Unless you are a trained professional trader, you'll lose money trying to jump onto the next coin that is mooning. And don't forget that even professional traders lose money here too because of the unpredictability of crypto.</p> <p>TLDR; don't FOMO into a coin just because it's got major gains, chances are you'll be much better off holding the crpyto's you have because you see value in them.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Jakeron"> /u/Jakeron </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lghzr6/checking_coinmarketcap_every_5_minutes_is_an_easy/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lghzr6/checking_coinmarketcap_every_5_minutes_is_an_easy/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>When you're checking prices on crypto so frequently it's really easy to fixate on a coin that is doing particularly well today and start to develop FOMO about it. This is especially bad if you're portfolio hasn't moved much lately. But don't forget that often when a coin is up 50-100% in a day, it'll even out and probably come back down. And it's the worst feeling in the world buying at the top of a coins price and then seeing the coins you've cashed out of earlier moon the next day.</p> <p>There are plenty of great projects out there and just because the cryptos you've got aren't mooning doesn't mean you should sell and put you're money into one that is. A lot of the time major price changes in a day are from pump and dump groups.</p> <p>Try to take a step back from checking prices so that you don't start to fixate on the coins with crazy movement. There's a good chance your picks will rise too in the coming weeks in this Bullish market.</p> <p>It's super important to pick cryptos that you see the value in and hold them for the long term. Unless you are a trained professional trader, you'll lose money trying to jump onto the next coin that is mooning. And don't forget that even professional traders lose money here too because of the unpredictability of crypto.</p> <p>TLDR; don't FOMO into a coin just because it's got major gains, chances are you'll be much better off holding the crpyto's you have because you see value in them.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Jakeron"> /u/Jakeron </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lghzr6/checking_coinmarketcap_every_5_minutes_is_an_easy/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lghzr6/checking_coinmarketcap_every_5_minutes_is_an_easy/">[comments]</a></span>Kind Regards R