FOMO
What to do about lost profit syndrome?
1. Look at the situation from the outside. For example Hyperliquid (HYPE). People were given thousands of dollars for free, but people are dissatisfied and even more unhappy because they could have sold later and taken more free money. Such sums would not be dreamed of by most of your working friends.
2. Love yourself and your reality. Be confident in your decisions.
3. Stop looking at others, you don’t know their life situation, you don’t know how much money they have lost/invested. People only share wins, everyone keeps silent about losses. Remember that it is profitable for some people to fuel your FOMO in order to sell you something.
4. Try to keep a journal. Write down your thoughts, feelings, what you are grateful for.
5. Choose the right environment, do not sit in the fields with FOMO.
6. Remember that at the end of the day it is not the one who earns more who wins, but the one who can become happy.
Mania
You need to clearly understand what a mania is in order to avoid succumbing to it. The best thing you can do is to read books about the history of financial crises, bubbles and manias.
In any case, this condition is experienced by all of us in normal life. Sometimes the mania comes from us, sometimes we are infected by others. In this state there is a sudden transition/reevaluation, the perception of reality is distorted, you get fixated on some facts/events, you start to see connections/signs, you seem to realize the truth.
In the market, you may start to see secret manipulators, shouting about technology. You will think that the future has already arrived, that under every coin there is a valuable technology, that tomorrow everyone will enter crypto and you will become super rich. Such a state will inevitably be replaced by depression.
Only buy the coins you are willing to sit through the bear with
The music can stop at any time. Are you ready to sit for 2-3 years with what you have accumulated? What is the probability that these projects will survive? If you don’t constantly ask yourself these questions, you could find yourself sitting on a bear with a bunch of shitcoins that no one wants.
Don’t cling to the old, models change fast
Things are always changing in crypto. It’s a super dynamic market. During the last cycle I caught about 5 categories that shot up one after the other – DeFi, Memes, RWA, DePin, AI. While in the bear market you had to dump the dips immediately, in the bull market it was profitable to hold them. Adapt to change, don’t resist it.
Acknowledge mistakes
We’re all human and we all make mistakes. It’s okay to change your mind, to admit a mistake. It’s okay to buy a bad asset in a fit of fomo/mania and sell it. The main thing is that it is a calm and informed decision.
Don’t always go against the crowd
On the one hand, you should not follow the crowd. It is on the way against it that the non-obvious ideas and the biggest profits live. On the other hand – if you always go against the crowd, you may miss an important trend or get involved in the worst idea. The world, including the market, is made up of such opposites and seemingly incompatible things. Know how to balance them.
As long as the crowd is acting in a fear to greed scenario, jumping from asset to asset in a FOMO rush, you can play against them and do the opposite.
At the same time, it pays to go where people are to catch trends. It’s a very tricky balance when you’re with everybody on one side and against everybody on the other. Today you are with everybody, but then you do a sharp move and you are against everybody.
Build something that will last when the market goes down
Which it inevitably will. What will you have left but a portfolio that will shrink every day? Invest in your life, your health, your knowledge, your appearance. Build social connections, reputation, trust with people. Develop yourself constantly. Start your own projects of any size.
Work for long-term results
This is my main principle in life. The biggest profit brings something that you consciously and for a long time went to. When all others have already dropped out. It takes patience, a strong core, the right education. It’s the coveted prize. But without short-term gains, it’s sometimes difficult because you lose motivation. You have to know how to balance it.
The market game is a lifelong multi-transaction game
Playing the market is a single path, one action flows from the other, one cannot be isolated from the other. When you deeply realize this, your fomo will be gone.
You could not have gotten that drop (or anything else) because you were following the path of another reality. If you had gotten that drop, you would not have gotten anything else, the chain would have been broken, it would have been a different life.
If you have been taken out of one action of the market, it means that you did not play a multi-move game, but thoughtlessly bet everything on red or black, hoping only for luck, not leaving any more moves in reserve.
If you want to survive here in the long run, you should always be ready for both scenarios (rise and fall), make a move, wait, the market makes a move in response, then it’s your turn.