Controlling your FOMO (over BCH)

Just eleven days ago I sold a bitcoinCash coin I had for 1.4 Ethereum.

If I were to sell that ethereum now for BCash, I would lose more than half my investment and get only 0.4 BCH.

The feeling of losing money is terrible.
And you want nothing more than to recover what you lost ASAP.

It's at times like these that it's the most important to control your emotions and stick to fundamentals.

So I decided to make a handy list of steps to take.

Remember that it feels much more painful to lose money than to make money. So even if in the long term you make money from your risks, the pain of the short term losses are worse than the positive feeling of long term gains. Remember then, that the feeling you feel when you lose is disproportional.

If the price of a coin went up it's because of fundamental usefulness, hype, or both. Try to analyze why it went up and of it was because of fundamentals, use it as an opportunity to learn from your mistake and study why the rise happened.

Try to forget what you lost when making a decision on how to move forward. Approach this as if you were a new investor who just bought his first bitcoins today with dollars on an exchange, and is now considering what altcoins to buy.

I hope this helps you get over your FOMO. Until next time!