Part 3/8:
Having escaped a repressive regime in the Soviet Union, the author's beginnings in America involved learning not just English, but also the complex dynamics of the financial market. His early trades were fraught with failures, often leading to the realization that the key to winning lay not within tools and analysis alone, but rather inside one's own mind.
The Psychological Edge
Psychological factors in trading cannot be overstated. The author stresses the importance of recognizing one's emotional state during trades; feelings of anxiety, elation, or frustration can cloud judgment and lead to poor decision-making. Many amateur traders hop on an emotional roller coaster—elated by wins and devastated by losses—ignoring the pivotal aspect of managing their emotions.