How Panic Buying Can Affect A Trader Negatively.

Anyone who is on hive is a trader. It doesn’t matter if you trade on an exchange or on hive, as far as you use the internal market I can qualify you as a trader. Have you ever encountered a situation where you wanted the price of hbd to go down or the price of hive to go down so you can get more hive when you convert your hbd? It’s a yes for most people right.?

This is what makes you a trader to me. Sometimes you wanted the price of hbd to go so higher than hive or hive prices goes down but it just refuses to happen. And then you feel like it won’t go down or up anymore or in a short whiles so you sell your hbd waiting for hive price to shoot so you can enjoy.

Today, am not going to talk about hbd or hive, I just wanted you to see where I am going with this. At this point you should know I am trying to talk of panic buying. In modern words we can call it FOMO. I don’t think they can be used interchangeably but I think they are similar.

Panic buying doesn’t just happen to newbies in the crypto market. It happens and continues to happen to people who have been here since the start of crypto. Experience doesn’t stop you from panic buying but at least you know you have seen the situation before hence your reaction will be slightly different than someone who has never.

Should we really call it panic buying when the market does what it wants?

Yes, it’s panic buying. Sometimes you know that this time is the best time. Now because of impatience or maybe something else you buy. We know that when you buy it has the chance of shooting but mostly those chances are very little. This is because you fomo buy into the asset when the price is about to do a u turn back to the down side. What happens with people in FOMO is that they eventually make that mistake and they have to wait or end up leaving the market with their loss.

When you panic buy it has its own consequences, not that if you don’t panic buy you are safe but at least it feels better and safe. Better and safe in a way that you know you did investigate before buying or you made your analysis before buying, not just following a twitter peep to buy, to buy from an advice from someone who probably even attempt buying that asset. We follow and follow blindly because we think that influencer knows it all because he or she has a lot of followers.

Let’s be guided so as to not that such mistakes to avoid leaving the market with huge losses because we were impatient.

Thanks for reading.

Note-This is not financial advice

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