I recall the occasions when FOMO was real for me when I was starting out.
Newbie investors are likely always checking prices, and price movements are on one's radar all the time as we pay great interest toward it.
When prices look like they are going to pop, FOMO creeps in.
The result is that one will buy high, and then get wrecked.
This is the characteristic of FOMO.
Professional investors certainly do it differently.
Here are likely the habits or practices they adopt that newbie investor can consider:
Professional investors only invest the amount after setting the amount needed to maintain their cash flow. This way they aren't affected if the investment goes south. They have enough to cushion.
Professional investors have a longer-term plan. The emphasis is on the plan for a reason. For example, the plan is to sell when it reached a certain price at a time. They calculated their buy low and sell high prices and stuck to it.
Professional investors invest only in things they are confident in. After ascertaining the likelihood of their investment product yielding good profits and with a high degree of certainty, they can be confident in that, and then they invest.
Professional investors have a strategy for injecting funds, and is not done haphazardly. For example, they first decide how much they are willing to acquire and at what price, say 10000 Hive, if they think that Hive is what has potential. It should have a completion date if they so wish, i.e. the date when the 10000 Hive should be completely acquired. They look at the market condition and devise a plan to inject the funds. Say, 10% first, and then watch for dips to put in more, to bring down the buying price. If the market goes down more, buying even more will bring down the buying price originally targeted.
In summary, investing like a professional is all about calculating risks to reward BEFORE investing. At least this is an antidote to say Bye Bye FOMO, Hello Smart Investing!
If you have more tips, I love to hear them!
P/S: This is not financial advice, and please do your own due diligence before investing.
If you read this far... and if you are a like-minded Hiver who is on the path to learning more about Hive and crypto investing, and if you like to be tagged when I write such posts, I welcome you to leave a comment below and let me know. We can form an alliance to support each other's growth.
You might be interested in this post, @jacoalberts and @youngkedar98!