What does patience mean in trading?
What does patience mean in trading?
As a trader, we need patience while trading.
In trading, patience is required at four levels:
A) You need patience to learn how the market moves and how to trade it—”Learn” first before you “Earn.”
B) You need to have patience and do a thorough analysis before taking a trade. Do not rush into trades.
C) You need to be patient and wait for your setup or the right opportunity. Be a sniper, not a machine gun, opening trades at each market movement.
D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.
Do you have something to add?
It’s on how you will manage the risk, people tend to make trading without proper execution or plan with their trades, which is one of the basic fundamentals that a trader must need to prepare for the position they keep watching, yes every position you made there’s a profit but if you feel doubt with your position and you know there are some changes with the market now its up to you if you keep willing to take a risk or not. Base on my experience in trading ill do make a position and keep an eye until the signal or pattern given to me with the help of the indicator that’s the time ill go entry, I will not make a move that will just become regrets and waste of money.