I just realized an interesting thing: in Buddhism, the five poisons of the mind are very fitting to describe the psychology of crypto traders. Greed, anger, delusion, arrogance, and doubt—what are they? They are not only religious concepts but also psychological traps that cause many people to lose in the market.

Starting with greed. Greed is the strongest, it makes you afraid of missing the peak, always wanting to hold onto coins so they can increase further. At that point, you won’t know when to sell, and ultimately profits turn into losses. That’s how greed destroys traders.

Then comes anger. You just bought coins, the market reverses, and you immediately incur losses. At that moment, anger rises, and you curse the analysts, curse the market, then cut your losses in frustration. This is the biggest taboo in the early and middle stages of a bull market because it causes you to sell just before the market is about to rise.

Ignorance is extremely dangerous. It means you don’t learn, don’t understand the project you’re investing in, only follow the crowd. Most people who lose money suffer from this disease.

Arrogance is different; it makes you look down on others, think you are smarter than the market, and then bet too big. Arrogance is the foundation of downfall.

Finally, doubt. You buy a good project, but due to indecisiveness, you keep doubting, then sell early before the price has risen enough. Or conversely, you keep waiting to see what the price will do and end up missing the opportunity.

Looking back, what are greed, anger, delusion, arrogance, and doubt that give them such power in the market? It’s because they are human nature. To survive until the end of a bull market, you must eliminate these five. It’s not that you have no emotions, but you must control them with discipline and a clear trading plan.