You may encounter a lot of new lingo and terminology when you begin to learn about Bitcoin futures or markets trading in general. If you have previous experience in stock trading, the culture and attitudes are very similar. The charting terminology is mostly the same too. There are, however, some unique characteristics of the bitcoin community which make bitcoin traders a unique breed. Here is a little guide to some of the words you will come across and be puzzled about:
FOMO: noun, adjective, verb. Fear Of Missing Out. This describes the psychology of many traders who see price move in a certain direction and are overcome with a feeling of missing out, which compels them to "FOMO LONG" or "FOMO SHORT", or even sometimes "FOMO ALL-IN".
Hodl: These are the bagholders of bitcoin. Those who choose to persistently hold coins despite market volatility. They refuse to sell when it's obvious to sell. They refuse to capitulate! Hodl!
Hopium: That lovely feeling that the price will just keep going up and up and up. Permabulls often overdose on hopium and get rekt.
Rekt: When your position is going against you. Margin called. Liquidated. Losses stacking up. Hope slowly draining away.
Volumyzer: The Chinese exchanges are well known to manipulate volume, using their 0% fee model which encourages wash trading. In times of relative market calm, traders can see large volume bars erecting on Houbi and OKCoin, indicating severe shenanigans at play.
FOMO: noun, adjective, verb. Fear Of Missing Out. This describes the psychology of many traders who see price move in a certain direction and are overcome with a feeling of missing out, which compels them to "FOMO LONG" or "FOMO SHORT", or even sometimes "FOMO ALL-IN".
Hodl: These are the bagholders of bitcoin. Those who choose to persistently hold coins despite market volatility. They refuse to sell when it's obvious to sell. They refuse to capitulate! Hodl!
Hopium: That lovely feeling that the price will just keep going up and up and up. Permabulls often overdose on hopium and get rekt.
Rekt: When your position is going against you. Margin called. Liquidated. Losses stacking up. Hope slowly draining away.
Volumyzer: The Chinese exchanges are well known to manipulate volume, using their 0% fee model which encourages wash trading. In times of relative market calm, traders can see large volume bars erecting on Houbi and OKCoin, indicating severe shenanigans at play.
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