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© Reuters
JOMO stands for the joy of missing out — particularly when a cryptocurrency trader refuses to follow the crowd. It’s the opposite of FOMO or fear of missing out, and it’s the counterbalance to price rallies driven by hype and frenzy.
In crypto trading, JOMO stems from not following the herd — which is often wrong — and avoiding a potentially significant loss.
- Develop a trading plan.
- Keep a trading journal to monitor your trading patterns.
- Analyze potential trades using multiple metrics, including fundamental and technical analysis.
- Ignore emotions, follow your plan and adjust accordingly.
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