The Hour Between Dog and Wolf

by John Coates

Most trading psychology books tell you to manage your emotions or build discipline but this one starts from a completely different place, your body. The reason you sized up at the worst possible time isn't because you lack discipline, it's because winning streaks literally change your body chemistry and push you toward riskier bets. And when you freeze on a perfect setup after a losing streak that's not fear, that's cortisol making you biologically risk-averse at exactly the wrong moment. It gives you this whole new awareness of what's actually happening on a biological level that's causing the psychology issues everyone talks about but nobody really explains.