Patience - what is it?

[postman]

Here is a very patient trade using options and futures.

I held on to the trade for 1 month , until it went into profit.

http://www.trade2win.com/boards/tra...hologically-correct-trades-6.html#post2926370

So why do you close so many trades after a short time for a big loss?

 

[foroom lluzers]

So why do you close so many trades after a short time for a big loss?

Overall it is a profit , I made a mistake , I should have just bought at 12400 put ,instead of closing the puts , yesterday was very volatile and hectic.

I rewrote the july spread.

 

[darktone]

Nothing beats a good woulda shoulda coulda

 

[foroom lluzers]

Sit back, relax and don’t even think about pressing that “buy” or “sell” button on your trading platform.

 

[postman]

Sit back, relax and don’t even think about pressing that “buy” or “sell” button on your trading platform.

Is that specifically directed at piphoe.

 

[foroom lluzers]

Is that specifically directed at piphoe.

No the other impatient , market timing , trend failure 10 pip goon .

 

[Fugazsy]

 

[darktone]

Sit back, relax and........

 

[postman]

"Patience - what is it?"
I havent got time to read the whole of this thread, can someone just PM me the answer. Now!

 

[foroom lluzers]

"patience - what is it?"
i havent got time to read the whole of this thread, can someone just pm me the answer. Now!

impatience poshzer

 

[foroom lluzers]

Bill Lipschutz the currency trader summed up PATIENCE when he said, "Out of 250 trades in a year, it comes down to five, three of those will be wrong and you will lose a fortune and two will be right and you will make a fortune; for the other 245 trades-you should have been sitting PATIENTLY on your hands."

The short term day trading and weekly gambling is likely to make you impulsive , unprofitable and emotionally deranged.

 

[postman]

...
The short term day trading and weekly gambling is likely to make you impulsive , unprofitable and emotionally deranged.

And your trades last less than a week so that explains a lot.

 

[foroom lluzers]

Why are most traders impatient?

We feel better in control of destiny , we are not used to uncertainty and when we see certain profits WE JUMP AND TAKE THEM FAST BEFORE WE MISS OUT ON PROFITS.

 

[goldorcold]

One experienced trader once told me: ''Do your analysis properly and once you done - trust your analysis.'' I would say it is more aimed towards stock analysis, however I believe this can be applied to any kind. The more your analysis make sense to yourself the less likely you will flip out from a trade and thus be more patient.

 

[foroom lluzers]

One experienced trader once told me: ''Do your analysis properly and once you done - trust your analysis.'' I would say it is more aimed towards stock analysis, however I believe this can be applied to any kind. The more your analysis make sense to yourself the less likely you will flip out from a trade and thus be more patient.

No trade is a very good trade.It is being patient.

 

[NVP]

an old mentor told me

"" be smart enough to build a good system and then be dumb enough to follow it ""

so dont be impatient and change things !!

N

 

[SmartTrader17]

Patience has got to be one of the hardest parts of trading haha. I have the most trouble setting and forgetting my trades. Sometimes I will think I need to get out early or let the trade keep going. Luckily, I've learned that once my trade is placed, I just need to stay patient and let it play out how it will.

 

[foroom lluzers]

an old mentor told me

"" be smart enough to build a good system and then be dumb enough to follow it ""

so dont be impatient and change things !!

N

Patience helps control all your enemies within your self like self sabotage , reactive trades ,impulsive trades , over trading , need to be right , fear , greed , mind traps , information processing errors . mistakes , entering poor set ups , exiting trades early and information processing biases.

Short term and intraday traders eventually suffer from all the above psychological handicaps.Go to longer time frame trading and set and forget strategies , these make you very patient and less self destructive.

Patience is the most important skill in trading.Trader will make more money from the few trades and avoid the losers.

https://experiencelife.com/article/worth-the-wait/

 

[Mikehills101]

Patience is one of the things trader can't control at times especially if they feel like they really need to do something for their investments.

 

[postman]

Patience is one of the things trader can't control at times especially if they feel like they really need to do something for their investments.

Thats a very negative way of looking at it, you are condemning yourself to failure with that attitude and pre allowing yourself to fail.
How about "Patience is something a trader can and must learn in order to be successful".