JOMO is that “I-was-right-about-the-market” joyful feeling after narrowly escaping a bad trade and potentially catastrophic losses.
JOMO is the opposite of FOMO (Fear Of Missing Out), which is the anxiety or fear that traders experience when they see others profiting from a particular trade or investment opportunity and feel compelled to participate, even if it might not be the best decision for them.
When traders exercise caution and avoid entering a trade that could have led to losses, they may experience a sense of joy and validation. JOMO acknowledges the importance of risk management and the ability to make rational decisions based on careful analysis and evaluation of market conditions.
Overall, JOMO in crypto trading is about finding happiness and contentment in avoiding potential losses and being satisfied with the choices made in the market.