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Patience is best tool to get success

Mar 02 2022 at 10:55
617 posts
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!
Mar 02 2022 at 11:05
9 posts
8 hours a day for only 4-5 trades a week. that is a lot of effort. is it worth it?
Mar 02 2022 at 12:18
133 posts
writhehaircut posted:
8 hours a day for only 4-5 trades a week. that is a lot of effort. is it worth it?
It depends on the pace of the trader. Some are comfortable with 4-5 trades in 8 hours while others with far more than that.
Mar 02 2022 at 14:22
48 posts
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!
Mar 03 2022 at 20:00
11 posts
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.
Mar 09 2022 at 04:27
31 posts
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.
Mar 09 2022 at 05:51
2 posts
It is critical to maintain one's patience because it takes time to learn how to be consistently profitable in a continually changing environment. Patience pays out in FOREX trading since it helps you to relax and wait for the proper trade setting.
Mar 09 2022 at 11:35
939 posts
More importantly - to be able to act correctly with all this in order to get a positive result.
Seb King (sebking1986)
Mar 09 2022 at 17:03
538 posts
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.
Mar 14 2022 at 06:11
111 posts
Patience is the greatest virtue a trader can possess. Always remember that for long-term profits and success, timing is everything in forex. Traders who know how to control their impulses and act decisively at the favourable moment ace the forex game as they spend time to devise a detailed trading plan and precisely follow entry and exit strategies.
Mar 14 2022 at 07:27
25 posts
Being curious can open several doors for you in the market. But if it is making you impatient, it’s not a good thing. You must learn to wait for the right time to enter or exit a trade. You must also not rush changing strategies every now and then without testing their results over some period of time.
Mar 14 2022 at 10:32
801 posts
The main thing is to understand how to work with this tool correctly.
Mar 17 2022 at 08:09
22 posts
It surely is. Forex trading is a game of patience. If you leave behind your analysis and become greedy while opening and closing trading positions, you might miss important trading opportunities and take unnecessary risks.
Mar 17 2022 at 11:23
939 posts
More importantly - to be able to work with it correctly and know how to use it.
Mar 21 2022 at 05:35
19 posts
Well yes. You need to stay patient to let your strategies work so that you can build the best one after testing a few.
Mar 23 2022 at 07:50
47 posts
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.
Mar 23 2022 at 10:40
939 posts
You need to understand that this requires experience. Without this, it is quite difficult to get a positive result.
Mar 28 2022 at 07:32
22 posts
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!
Mar 29 2022 at 10:16
11 posts
I agree, patience in a trader will always lead him to make better decisions and will also let the other emotions out of the trading.
Barton (Barton90)
Mar 30 2022 at 06:42
6 posts
I agree, there must certainly be patience, but one should not forget about financial literacy.
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