Honestly, I don’t have any grand strategy. I rely heavily on experience and intuition. I simply look at the current price of Bitcoin and the specific coin I want to buy.
My main rule is to buy the dip. I never buy out of FOMO—jumping in just because something is rising and I want to catch a train that’s already leaving the station. I also try to take quick profits rather than waiting days to cash out.
You are viewing a single comment's thread from:
That's some solid rule you've got there. It's good to plot key zones and check some other confluences off the checklist before entering a trade.
People who trade out of FOMO tend to buy the sell, and sell the buy (if you know what I mean). I think it's slightly the same as revenge trading. Though in revenge trading, the trader is blinded by emotions, while in FOMO the trader is scared of missing out of a big move, thus, buying when they were supposed to wait for a retest. Both FOMO and revenge trading are actually not good for a trader though.