Practicing Patience in a Crypto Bull Market

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FOMO (Fear Of Missing Out) can come in many forms, especially when dealing with cryptocurrency. And by dealing with it I mean trading it. One of the most common forms is that people start buying their cryptos only when it's trending and on the rise, therefore buying at the peak. These people usually panic sell when it starts crashing and lose money. We have or will probably all be there at some point in time. I know I have been. Those that come out wiser do not make that mistake twice though. And the rest, well they keep losing. Not that I am mad at them, because they bring balance to the crypto force for those of us that win. We can't all be winners in trading, it's mathematically not possible.

Another variant of FOMO is when you have bought something and sell it some time later with profit. The high you are on from that profitable sell makes you want to buy something else up immediately. But that may not always be the best course of action. It usually isn't. Pre 2017 me has made that mistake in the previous bull market. But current me knows to be patient and wait for a dip. Even if the price goes up more, you are not losing out. You have your profit. Thinking you can profit from every pump and buy up every dip is a common mindset that leads people to bad decisions in trading. Missed that BNB mega pump? Too bad. Look at other exchange tokens like KCS and wait patiently for your turn.

This is exactly what I'm doing right now, after selling a bit of my stacks in profit. Things are still going up, but I'm waiting patiently to re-enter the USDTs I'm sitting on whenever it seems like things are going bad or crashing. That's when you buy, not when thing are on the upside. I know that now, after my fair share of losses I learned from, hopefully you know it too. :)

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