Psychology alone won't make you profitable. Even if you've managed to hedge your risks and can now accept losses more comfortably, it’s a common practice and necessary to hedge your risks. However, this doesn’t mean your risks are working in your favor.
I am not saying that it is wrong that only psychology can help you in trading, but I am also not saying that psychology is not helpful in trading. It has to be that whatever you do, you create a model and a structure in your mind and follow it. Psychology is different for each thing, similarly, there is a psychology for trading, by following it you can become a successful trader.
You know when we do any work we first prepare mentally and psychologically for that work then we do that work similarly to people who trade some people are panic sellers and some are patient, who control all these things are controlled by their psychology.
Therefore, psychology plays a big role in trading, and for success and failure, there is no doubt that knowledge is very important for you. You must be psychologically prepared to trade and understand trading.
