How to be patient

I agree with you 100%
Most are very impatient and jump to gun

However, you have to know when to just walk away.
I see the Vegas Syndrome all over in trading.
You tell yourself "ok, just few more minutes maybe it will shoot up" and then its too late.

:mad:
 
try this one,

make deep breath every time when you want to operate any action for your deals.

and prepare some simple questions in the mean time to verify whether you had really been thinking about the decision to do anything.
 
I always see it as a matter of will, mind over matter, put a paper and stick it to the monitor and write there what you have to avoid as a constant reminder, you already made the mistake then learn from it hehe i really used to that to over come the itch of making a comeback :)
 
Quote from riskaddict:

find something else to do while you're waiting for the set up or for your trade to play out. You need to be aware of what is happening but not transfixed by the second to second p/a. set up alerts and go clean or walk the dog or work out or whatever. If you can place oco or oto orders there isn't much sense in sitting around watching a screen unless you want to gamble.
More...

not a bad idea. Sometimes i usually join a trading game in the meantime. It is an advantage to me- I am able to know what other traders strategy how to gain profit and i think competing with other trader is more fun and amazing. This make us relax and we can trade easily without stress.
 
from my experience and I think it is very true that if you continue to look at the market price fluctuating, your mind will have the tendency to chase/get in early and majorly distract your full attention on chart. Cover the price board with a blank notepad page, focus on chart until you feel something, then open price and make trade. Only expose your eye to the price when you make a trade or exit. You will find yourself a lot calmer and in control. The fluctuation of the price will make your brain react and become its basis of acting on market, not thinking as much logical as you would based on your understanding on chart. It is a must have habit, and you will find a big source of patience once having this habit.
 
Yeah, patience is an important factor in trading. My "recipe for success" is distracting myself with something I like and thus completely removing myself from the computer.
 
Patience is really a recipe for success . When we are planned in trading ,set our goals we do all trading in proper way . We will analyze market first with patience and find tend then we choose proper lot and leverage according to our capital to make a successful trade.
 
You must log in or register to reply here.
Back
Top