Patience is best tool to get success

Apr 19, 2020 at 05:14
6,763 Views
163 Replies
Member Since Dec 20, 2021   25 posts
Feb 01, 2022 at 08:22
In my opinion, in forex trading it is very important for a trader to keep patience, getting in a hurry and making quick decisions often leads to huge losses.

Member Since Nov 02, 2021   73 posts
Feb 15, 2022 at 04:23
No doubt patience is an important trait that every trader must possess. The subject, forex market, is a very vast and a bit complicated subject for which a trader needs to be patient enough to learn. Even while making trades a trader should have patience and shouldn’t keep dipping in and out of their positions.
Member Since Feb 20, 2021   78 posts
Feb 16, 2022 at 05:05
Keeping patience can be difficult for some but if you have decided to become a trader, you will have to learn this art.
Member Since Mar 28, 2021   617 posts
Mar 02, 2022 at 10:55
Dictiony posted:
Patience is a very best and useful tool to get success because if we have no patience in our self then we can become greedy and definitely we can face big loss and different problems thats why we have to stay cool and positive and be patience in this way we can get good profit and we can become a professional trader

That’s true, I am a long term trader usually I open only 4-5 trades in a week; but I spend more than 8 hours here (per day) to get a good entry point! I always try to verify my entry points by many parameters! But as yiou know, there is nothing like 100% in Forex, so I am facing SL’s and that’s very normal!
Member Since Feb 21, 2022   9 posts
Mar 02, 2022 at 11:05
8 hours a day for only 4-5 trades a week. that is a lot of effort. is it worth it?
Member Since May 31, 2021   48 posts
Mar 02, 2022 at 14:22
As per a scalper pov, time is not important but no. of pips you have made in your favor matters. In case mine, I keep 90 - 120 pips movement as a goal for a day and if that is achieved in time, packup!
Member Since Sep 29, 2020   11 posts
Mar 03, 2022 at 20:00
Yeah I quite agree that patience matters a lot however I would note that it's not about patience only. It is also about your ability to learn and to get new knowledge and skills. Some traders can't do it, because they want just to learn how to earn money but they don't want to develop their skills in trading. In my opinion, patience plays the major role here because it affects your trading style and your future success.
If you are not patient then you have to try to learn how to remain patient during trading, otherwise it's just a way to nowhere.
Member Since Jan 20, 2022   31 posts
Mar 09, 2022 at 04:27
Patience is indispensable to survive long in this forex market. It helps in innumerable ways as comprehending the sea of concepts, fundamental and technical analytics of the forex market is not an easy job. No matter how difficult it might seem to conquer in the beginning, it eventually pays off as it enables the traders to wait for the perfect time to spot opportunities and make a move to minimise losses.
Member Since Apr 09, 2019   538 posts
Mar 09, 2022 at 17:03
The issue with most newcomers to forex is they want it all here and now and look for shortcuts where there are none. So yes I can understand the point about patience.
If you can't spot the liquidity then you are the liquidity.
Member Since Mar 17, 2022   47 posts
Mar 23, 2022 at 07:50
Trading involves psychology and hence, makes patience an important quality for a forex trader. Keeping patience when you enter the market and waiting for it to show results can make a difference. But make sure that your patience doesn’t make you stubborn which keeps you from seeing the red flags in your career.
Member Since Mar 11, 2022   22 posts
Mar 28, 2022 at 07:32
Well, that’s true. A patient trader has more chances of becoming profitable in the forex market. A trader who is too curious to make money that he doesn’t give the required attention to his studies often has a short-lived trading career. You will have to keep patience while you learn. You will have to keep patience when you execute a trade. You will have to keep patience when your strategy doesn’t work. You will have to keep patience when nothing seems to work. Because good things take time!
Member Since Mar 30, 2022   6 posts
Mar 30, 2022 at 06:42
I agree, there must certainly be patience, but one should not forget about financial literacy.
Member Since Mar 30, 2022   10 posts
Mar 31, 2022 at 03:23
Dictiony posted:
Patience is a very best and useful tool to get success because if we have no patience in our self then we can become greedy and definitely we can face big loss and different problems thats why we have to stay cool and positive and be patience in this way we can get good profit and we can become a professional trader
I agree with you
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Member Since Mar 22, 2022   25 posts
Mar 31, 2022 at 07:36
As Investopedia says, “Patience Is a Virtue for Traders.”
Patience helps you keep your market moves in check and you don’t do anything in the rage of making money. You learn the importance of performing market analysis and making your trading decisions on the basis of your research and nothing else.
Member Since Mar 23, 2022   26 posts
Apr 07, 2022 at 05:30
To a great extent, patience is truly an important tool you have. It takes a big heart to see your money going away from you. It’s not easy to accept that the strategy that you spent days on while developing doesn’t work as anticipated. With patience, you get the strength to keep trading even when the market doesn’t seem to be understandable.
Member Since Mar 11, 2022   18 posts
Apr 13, 2022 at 06:07
Patience is indeed a very crucial part of forex trading and it’s such a tool that helps you in achieving success. In long term trading, you’ll have to be patient even in the hardest times of your trading and once you’re able to control all of your emotions you’ll be a successful trader. Most of the traders lose patience after facing losses and get demotivated but this is where you need to stay strong in order to trade successfully.
Member Since Apr 04, 2022   25 posts
Apr 15, 2022 at 06:22
Patience is a very much treasured quality for traders engaging in forex. It is easy to be impulsive and make decisions dictated by your emotions rather than logical thinking. But a trader needs to learn a way to focus more on the technical side of things and make decisions based on that. One may find it hard to fight against the gut feeling but a good trader should always let their analytical part of the brain take the lead while making crucial trading decisions.
Member Since Mar 21, 2022   47 posts
Apr 18, 2022 at 07:41
Patience is indeed a key element to success in the Forex market. Forex is unpredictable, so traders have to have the patience and discipline to learn from every trade and to stick with a system or method until it proves to be successful.
Member Since Oct 27, 2020   18 posts
Apr 26, 2022 at 06:47
Any trader’s forex trading career takes time to grow. If you think that you will be good at making profits from the very beginning of your career, you might start making wrong trading decisions that do nothing more than harm your trading career. Better keep patience and don’t rush behind profits as a beginner. Give your trading career time to grow!
Member Since May 27, 2021   57 posts
Apr 26, 2022 at 11:12
In forex trading, patience is highly important in order to make your trading profitable.
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