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
Patience is also needed when you really do not earn that much money at the start for example on your other meanings out there completely and entirely anyway. You really need to get some experience with this later if you want to get something consistent.
I know what you mean. Without patience, you're gonna be a lame trader. Maybe for someone that quality will seem insignificant and he'll be like, 'Lol, patience, what's a nonsense, who cares?' That's very important in the trading business. Without it, you can miss a successful trade, lose your money and be a mockery. This may sound exaggerated, but if you're a good trader, you're a patient trader.
For me, patience is knowing how to delay a decision. But what does it mean to be able to 'delay decision making'? For me, it means handling things calmly and with discipline. I don't have to do reckless things right now and I can wait for the right moment to act. This is as true for trading as it is for real life: Waiting until you get a good discount for something you have wanted to buy over a long period of time. After all, there are many things that seem to be needed, but their purchase can well wait until the seasonal sale. Many people get into loans to buy a new iPhone, or a car that they cannot afford well. And if you replace the thoughtless waste on waiting, you can save the right amount and buy a newer model. Another plus is that after a couple of months you may suddenly realize that you don't really need the new iPhone...).
I partly agree with you. Yes, being patient is very important in trading, but not the most important thing. It seems to me that in addition to patience, there must be discipline. Because it's hard to achieve one without another. If you're disciplined, it's easier for you to keep it together. And on the contrary, if you're patient, it is easier to achieve disciplined trading.
Im no where near an expert or knowledgable but understanding patience and consistency was the moment I finally started to turn a profit.
The main issue is trading is emotional and a lot of people invest too much exposing themselves. I found in the recent crypto boom a lot are getting into the markets on credit cards and debt, this is making it incredibly stressful for them.
I was very similar back in 2014, which at the time was stupid as hell. Now I'm in the clear and have no burden in the background with profits taken out. The rest in there I don't want to lose but I just see it as pure free money - understanding this helps me emotionally detach from it.
Paper trade, find your system - what works for you Start slow when moving into real finances Scale it up when numbers are in your favor. PATIENCE AND CONSISTENCY.