Crypto trading, at its core, is a battle with oneself. Some people master a lot of trading knowledge and use various tools, yet still end up losing everything. Why? Because human weaknesses are amplified here—FOMO (Fear of Missing Out), greed, fear, and luck-driven psychology. These factors can drive people crazy in the highly volatile crypto market. In the end, it leads to a series of irrational decisions and devastating losses.

For ordinary traders, mental training and cognitive upgrading are equally important. Being able to manage emotions and conquer inner demons allows you to truly leverage your knowledge and tools, transforming from an emotionally driven trader into a rational decision-maker.

Let's talk about the FOMO trap. There's a very painful phenomenon: the regret of "missing out" often torments people more than "losing money." When a certain coin suddenly surges, and you see people in groups sharing profit screenshots, anxiety kicks in. Then impulsively, you chase the high, only to encounter a pullback right after entering—the last one to buy in. Data shows that when a coin's Google search popularity peaks, the following 7 to 30 days usually yield negative returns. This is a true reflection of the FOMO trap.

How to break free? You need to set your own pace and not be swayed by market noise. Prepare a trading plan in advance, specify a price range for buying, and stick to it—no trading outside that range. Also, recognize one thing: there are plenty of opportunities in the crypto space. Missing one means there's always another; blindly chasing gains carries far more risk than reward. Additionally, reduce browsing market updates and block marketing groups, which naturally lowers the frequency of FOMO triggers.

Greed is also a major enemy in trading. The desire to earn more when profits are already made, and reluctance to take profits and secure gains, can easily cause you to give back your profits. The smartest approach is to take profits in stages and set stop-losses to stabilize your returns.