that repeat in every time frame on intraday, daily, monthly and annual price charts. In other words, thanks to technical analysis, the market is transformed into an endless stream of enrichment opportunities.

Let's move on to mental analysis
If technical analysis is so magical, then why are more and more traders switching their attention from technical market analysis to mental analysis, the object of study of which is the person himself with his individual characteristics of trading psychology? To answer this question, it is enough to ask yourself, what made you buy this book? You are probably not satisfied with the discrepancy between the scale of perceived opportunities and profitability potential, on the one hand, and the real results of your efforts undertaken in this direction, on the other hand.

This is the main problem of technical analysis, if, of course, consider it as such. Once you learn the art of reading the market and identifying patterns, the possibilities for making money are endless. But I am sure you are already aware that there is a huge difference between your understanding of the market and the ability to transform it into a stable income, or a steady increase in the growth curve of trading capital.

Think about how many times when looking at the charts you thoughtfully remarked: “Hm! The market seems to be going up...” (or maybe down, depending on the situation), and they were absolutely right! Events unfolded exactly as you expected. At the same time, you only watched the outgoing price and experienced hellish torments at the thought of lost money.

How big is the difference between predicting events на рынке (и размышлениями о куче денег, которую можно заработать) и реальностью, требующей от нас конкретных действий по входу и выходу из market. I call it a difference, others call it a psychological gap that makes trading one of the most difficult activities, the process of mastering which is extremely mysterious.

The key issue is the very possibility of mastering the skill of trading. Is it even possible to trade with the ease that you feel just by watching the market, entertaining yourself with thoughts of future victories? The matter is not limited to an unequivocal "yes" here, because this book was written precisely with the aim of giving a deep understanding of one's own actions and the nature of trading. It is quite possible to reach a state in which trading in the market becomes easy, devoid of inner tension, as if you are watching the market and thinking about possible deals.

Still, this may seem difficult, and for many, an overwhelming task. However, not everything is hopeless. There are people in the world who have managed to bridge the gap between the opportunities provided and the final results of trading. As you might guess, the number of such craftsmen is negligible relative to the total number of traders working in the financial markets, who have to put up with disappointments of various scale and intensity - up to a complete collapse of hopes, anger and a bewildered misunderstanding of the reasons why they cannot achieve the desired stability of positive results..

In fact, between these two groups of traders - between stable winners and everyone else - there is a huge distance, like from the Earth to the Moon. Both of these celestial bodies belong to the solar system, there is something in common between them. At the same time, their properties and characteristics differ from each other, like day from night. Similarly, anyone who learns to place orders, open and close positions can claim to be a trader, but when comparing the properties and qualities of stable earning traders and most other market participants, it turns out that there is little in common between them.

If we compare the achievement of stable results with a flight to the moon, we can say that getting to the Earth's satellite, although difficult, is real. Only a few people have managed to walk on the surface of the moon. From the Earth, the Moon can be watch every night, she looks so close that it seems: reach out and touch her. The same goes for successful trading. Every day, week and month, huge amounts of money turn around in the markets, constantly providing everyone with opportunities for successful trading and making money. Since the markets are in constant motion, it begins to seem to traders that making huge money is not difficult at all - wealth is at arm's length.

The verb seem draws a certain boundary, on opposite sides of which there are two groups of traders. Тех, кто обрел постоянство в трейдинге и преодолел то, что я называю порогом стабильности, от денег уже не отделяет расстояние «вытянутой руки» — они способны забирать деньги с market. I am sure that for many this statement sounds shocking and implausible, but it is the absolute truth. Needless to say, there are limitations, but for the most part, money flows into the accounts of such traders with such ease and without apparent effort that the rest of the people are simply breathtaking.

However, traders who do not fall into this group of the elite take the word “appear” in the literal sense. At first glance, the much-desired stability and success is within easy reach, but again and again money slips out from under your nose. For such people, if trading brings something stably and with enviable constancy, it is emotional suffering. Of course, there are occasional moments of high spirits, but it is not an exaggeration to say that most of the time they spend in a state of fear, anger, frustration, anxiety, annoyance, feeling betrayed and regretting missed opportunities.

So what separates these two groups of traders? Perhaps the level of intelligence? Perhaps traders who consistently make money in the market are simply smarter than everyone else? Or are they more industrious? Maybe they are sophisticated analysts and have access to perfect trading systems? Do they have innate psychological characteristics that help them better endure the hardships of working in the markets?

All of this sounds perfectly reasonable, except for one extremely important circumstance: many of those who have failed in the markets are among the brightest and most successful members of our society. IN The group of stable losers includes scientists, lawyers, doctors, CEOs of large companies, wealthy retirees and entrepreneurs. Moreover, the best market experts are often the worst traders. Sophisticated intelligence and good analytical skills certainly contribute to success, but are by no means the determining factors that separate consistently successful traders from all other traders.

If it's not about intelligence or analytical talent, then what's the point?

Having worked in my lifetime with the worst and best traders, and hopeless losers who became successful traders, I can state without a doubt that there are special reasons why successful traders consistently outperform the rest. If I were faced with the task of reducing all the variety of reasons to one, I would simply say that successful traders think differently than others.

I know this doesn't sound very meaningful, the meaning of dissent in trading is often the determining factor for success, and it's worth thinking about. INсем нам в той или иной степени присуще свойство думать иначе, чем другие. We are not always aware of this and tend to believe that other people tend to share our beliefs and interpretations of events. The validity of such an assumption will be called into question only when we do not fundamentally disagree with someone in our assessments of what was experienced by both of us. Our uniqueness is determined by the style and way of thinking even more than the properties of the physical body.

INернемся к нашим трейдерам. How does the thinking of outstanding traders differ from the way of thinking of those who do not get out of a loss? Markets, although they are a source of inexhaustible possibilities, at the same time appear to man as the most unfavorable and hostile environment imaginable. Anyone who has experience trading the market sooner or later learns to recognize opportunities. But the ability to identify the right moment to buy or sell does not mean that you have the ability to think like a trader.

A distinctive feature of consistently successful traders is their way of thinking as a unique combination of attitudes, which allows them to comply with unfavorable conditions. discipline, focus and, most importantly, confidence. As a result, they are able to overcome feelings of fear and avoid common trading mistakes. INсе, кто торгуют, учатся кое-чему, но лишь малая толика трейдеров способна овладеть подходом, вне которого немыслим процесс становления успешного трейдера. An analogy from the world of sports is appropriate here: a person can perfectly master the techniques of handling a tennis racket or a golf club, but the stability of the results, or lack of it, depends entirely on his approach to business.

Traders who have not crossed the threshold of stability usually have to endure emotional suffering and financial losses until they master the approach that allows them to function effectively in the market environment. The rare exceptions are those who were born into families of successful traders, or those who were fortunate enough early in their careers to be mentored by an experienced person well versed in the nature of trading.

Why are traders so prone to emotional suffering and financial disasters? The obvious answer is that most people are not so lucky as to be under the wing of knowledgeable and intelligent traders from the very beginning of their career in the market. INпрочем, действительные причины не стоит искать на поверхности. IN продолжение последних семнадцати лет я занимался изучением психологической подоплеки трейдинга,