Thread by @Rentahomefast

FOMO.....

ever heard this term, well it happens to everyone.....

is it healthy? its it good?
how do you stop it?
👇

well first what is fomo
FEAR
OF
MISSING
OUT

how do you know when you are fomoing
1.heart is racing before a trade
2. trying to consume as much information as humanly possible before pressing the green button (searching old discord messages , listening to videos, talking to your "DEFI Expert"
3. coin is up 300% at ATH

before you FOMO Do 4 things
1. Ask: whats my time frame on the coin?
2. wait a few days before buying, (if its good then whats wrong with waiting a few days 😉 )
3. you find its a high conviction play, only bet the couch not the house..... you will thank me later 😉

4. explain your conviction or make a twitter thread on why you think you have to invest....if you cannot explain it then its prob just FOMO 😉. Build a thesis make a conviction and make a play. you will not always win so follow rule 3

now what do you do if you FOMO and are down 50%, well you need to ask yourself
1. am I overexposed.....will I lose everything if goes to 0
2.can I sleep at night
3. am I missing on other opportunities because all I think about is ___________ coin

the biggest one for me is headspace if im only thinking about that one loss, I cannot think to make decisions in the market....head space is a huge asset and IMO its better to make up for the loss with a win than it is to try to break even on a poop coin

the classic
"cut your losers short and double up on your winners"

is the quote to hang on the fridge

let me leave you with a solution (which has less risk)

10,000$ at one coin
10,000$ split between 10 coins

well if 1 coin does a 10x with the 10 coins it pays for all of the other trades that could be losers 😉.

Next time you find yourself sweating before a trade read this

https://twitter.com/Rentahomefast/status/1500989847024058374

-cheers and happy FOMO