RE: Pump And Dump Schemes .:. Hump Day Easy Talk
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Wise words - don't give in to the FOMO! That is what I am always saying, too. The pump & dump thrives on this emotion....
And that is what a lot of those trades are based on, emotion...while the average trading can be "boring" and even repetitive (which is what a lot of it SHOULD be), the pump & dump action is exciting & thrill seeking...people are magnetized to that...
In the average stock market, penny stocks are a big advocate of this. When these stocks fall, everyone is in to buy a whole bunch of it, then 2 seconds later, it rises & everyone is sell, sell, sell...it's a crazy whirlwind that usually doesn't end well...
While I think we ALL have been guilty of doing this in one time or another, it comes down to LEARNING from this pattern & DOYOR....it will all still continue since I don't think pump & dumps will ever fully go away, but it's just up to us to exercise caution & not get lured into the chaos....
Great video, Zoltan! Love the mountain view in the background btw :) 🧡
I have just replied to the comment above, without reading yours, and said almost the same words... EMOTIONS are the biggest enemy of a trader and investor... If you want to be a successful trader then you shouldn't involve emotions in it... Simple as that...
Of course, it's easy to say than done, and we all have been victims of FOMO, and consequences by it... But, life experience is teaching us to recognize it easier and avoid the next time... Who has ears, will listen...
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