Knock- knock! Trick or treat?
Today, activity on the Whitebit crypto exchange for Halloween reminds me of what I fear more than monsters under the bed and dark alleys in a bad neighborhood. FOMO is the fear of missing out. It can affect many aspects of life, but it is especially noticeable in the world of investing, especially in the dynamic cryptocurrency markets. Hot investors are afraid of missing out on potential profits, which leads to impulsive decisions, it is an uncontrollable emotion, fear is paralyzing.

So what to do: fight or flight? I start to experience FOMO when I see the price of a cryptocurrency skyrocketing, I see other investors making profits, and I feel a strong desire to “jump on the bandwagon” before prices go even higher. In the past, I was especially worried when there was euphoria about a certain asset on social media and on investment forums. Every time the price of a top cryptocurrency suddenly increased by several hundred percent in a few days, I swear I felt a heart attack coming on.
How to recognize FOMO?Anxiety can lead to over-monitoring cryptocurrency prices, impulsive asset purchases, and making decisions without prior analysis. Constantly checking trading apps, forums, and social media is a typical symptom of FOMO, as is constantly moving capital from one cryptocurrency to another in the hopes of making a quick profit. Investors driven by the fear of missing out often switch assets without giving their investments time to develop. Instead of sticking to a set plan, you start blindly following emotions and “trends,” which leads to worse investment results.

It is important to remember that the rise of the cryptocurrency market is often driven by speculation, and investors who make decisions based on emotions can suffer big losses. Just because others are making money does not mean it is a good time to invest. Avoiding FOMO requires self-discipline and awareness.I would like to share my own ideas on how to gain control over emotions:

• Instead of reacting to short-term market fluctuations, focus on your long-term goals and strategy;
• Set risk and reward limits to make decisions based on a plan, not emotions;
• Before investing in any cryptocurrency, thoroughly research the asset;
• Limit the time you spend checking trading apps and forums, monitoring;
• Learn and develop your knowledge, there are many good educational materials from leading crypto exchanges, all of them are free, just use them: WhiteBit, HTX, OKX;
• It is also useful to practice what is called the joy of missing out (JOMO). Sometimes it is worth being glad that you are not involved in every trend, which allows you to stay calm and focus on your long-term goals.

Remember that it is important to manage your forces and follow decisions based on short-term impulses. Never take advantage of the long-term success of patience, planning and a healthy lifestyle for investing.