Patience...

[darkhorse]

Originally posted by MarkHyman
Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch its prey. It may hide in the bush for a week, waiting for just the right moment. It will wait for a baby antelope, but not just any baby antelope, but preferably one that is also sick or lame. Only then, when there is no chance it can lose its prey, does it attack.
That is the epitome of professional trading.

-Mark Weinstein, Market Wizards Interview

p.s. ironic, or perhaps instructive, that even the great cheetah's success rate averages out around 50%. Thus the kills must help more than the failed attempts hurt. hmm...

 

[darkhorse]

Originally posted by ElCubano
maybe if the cheetah didnt wait and just attacked at will he would eat twice as much....

or maybe he would quickly deplete his resources and die of exhaustion 'cause of the energy vig

 

[Rogue Trader]

All that I ever wanted, and most regrettably all that I never received as a new trader were taught to me by the lessons I received in "Patience".

The problem was not in knowing what I wanted. The problem was in wanting it now. The conflict was not in understanding what it meant to be patient. The conflict was in not listening to the language of impatience. The scrutiny was not on the heeding of the lesson. The scrutiny was on the altering of whatever caused the lesson.

The truth in patience is not in the words. The truth is in having the patience for the words.

 

[nitro]

Originally posted by Rogue Trader
All that I ever wanted, and most regrettably all that I never received as a new trader were taught to me by the lessons I received in "Patience".

The problem was not in knowing what I wanted. The problem was in wanting it now. The conflict was not in understanding what it meant to be patient. The conflict was in not listening to the language of impatience. The scrutiny was not on the heeding of the lesson. The scrutiny was on the altering of whatever caused the lesson.

The truth in patience is not in the words. The truth is in having the patience for the words.

There is nothing more to patience than having others that see things the way you do overwhelm those that don't - PATIENCE IS SUBSERVIENT TO CONVICTION, and good traders know the difference between a good trade gone bad and a bad trade that isn't gonna get better.

nitro

 

[J_Commisso]

Originally posted by Rogue Trader
The problem was not in knowing what I wanted. The problem was in wanting it now.

Rogue the verbal gymnast Strange thing this game, letting go wanting what you want inorder to get it -- one of my short lifes most valuable lessons thus far.

The flower does not blossom for the bee to come, the flower blossoms and the bee comes.

PEACE and good-trading my friend,
Commisso

 

[chasinfla]

Originally posted by J_Commisso


Is there really such a thing as "witholding" action? For arguments sake though, even if one could somehow break the pendulum of our condition and "with-hold" action -- wouldn't this sort of patience be artificial? I wonder if this would even be real-true-genuine patience at all???

Professor Dark would you care to share your thoughts???

Withholding action is probably better described as self control (which is a virtue -- certainly not 'artificial,' any more than brushing one's teeth is 'artificial'); Patience seems to be closely tied to wisdom, the understanding of proper times and seasons. Experience can teach patience, but it won't force us to learn it.

Am I barred from religious input on this subject as well (?), because patience is described as a 'fruit of the Holy Spirit' (that is, a gift of God to the believer) in Christian theology.

 

[daniel_m]

Originally posted by chasinfla

Am I barred from religious input on this subject as well (?), because patience is described as a 'fruit of the Holy Spirit' (that is, a gift of God to the believer) in Christian theology.

did you mean, "am i barred from religious input on this subject aswell?" because i'm not sure that you've ever been "barred"..

of course, good sense and good taste would dictate that there's no reason to involve religious talk where it's not required. i can't think of anybody i've ever known that has held patience to be anything but a virtue, so to tell us christian mythol..er, theology.. tells us it's a virtue too is somewhat superfluous isn't it?

 

[stu]

Originally posted by J_Commisso


Rogue the verbal gymnast Strange thing this game, letting go wanting what you want inorder to get it -- one of my short lifes most valuable lessons thus far.

The flower does not blossom for the bee to come, the flower blossoms and the bee comes.

PEACE and good-trading my friend,
Commisso

The flower certainly does blossom for the bee to come. In most cases it's the only reason for blossoming.

blossoming, mmmm now there's a luvly wird (as John Lennon once said)

Letting go of what you want to get it, may work but equally a dogged holding on may be the only thing which will acheive your goals .Surely it is the correct judgement of which to employ in the circumstances which will reap the rewards. Reevaluation may often be better than letting go.

 

[chasinfla]

The flower certainly does blossom for the bee to come.

ahhhhh.

 

[darkhorse]

Originally posted by J_Commisso
Hey Dark you started the thread and then left me hanging

Whats the deal? You have some thoughts to share or what...

Good sooth, dear fellow...

...doth the flower bitch at the bee when late in coming?

True patience has no limit. Contentment is found in the waiting. The waiting itself becomes an act of wisdom, a right and good thing.

In trading, it is the willingness to happily wait forever if need be- combined with the knowledge that you will not have to.