What does patience mean in trading?

[SamReomo]

As a trader, we need patience while trading.

As a trader one doesn't only need to have patience but understanding of the market as well. If someone doesn't understand the market and somehow buys an asset when it's at peak then such traders can't make any profits even if they hold that asset for long term.

I believe the best thing a trader can do is to learn the market and understand that how it works. If someone can do that than earning big profits is possible for such traders but if someone isn't knowledgeable about the market then that person can't make much profits as a trader.

[Agbe]

Op trading is not easy as you are saying though those are some of the steps to be a successful trader  but nobody is perfect in trading. In trading the master of all is master of none. Don't be greedy in trading because if your are just greedy then you lose everything you have. Once you have a little profit that above your capital trading amount then stop the trade and withdraw the profit and if you like to continue, you can continue but at least you have removed something from the total amount. Greediness has emptied many traders accounts so it should be avoided with maximum. And all the other factors you mentioned are correct.

[vegasus]

Yes, indeed, patience is very important in trading, not only that, patience is also important in dealing with life. Patience is one of the keys that we must use, in this case patience can also be very useful when we are facing a weak opponent. Not only that, the most important thing is:
Patience is very important to have, when market conditions are very low and suddenly prices change according to direction, but it is important to do it with high risks and their levels are above what they should be. So, fix your emotions and left

[Husires]

Op trading is not easy as you are saying though those are some of the steps to be a successful trader  but nobody is perfect in trading. In trading the master of all is master of none.

Without a plan to manage risks and deal with market fluctuations, emotions will control you, and the last thing you want is for emotions to control you. Therefore, be careful of trading without managing risks and setting specific points by which you know profit and loss and when to stop your loss or collect your profits.

[Ricardo11]

In trading we always need to do good research on every subject matter, we should always keep our aim fixed, and never lose focus. The market is always changing, while constant adaptation to market conditions also requires patience. You must adhere to risk management policies. Avoid excessive leverage and adhere to your predetermined risk parameters. Take a long-term view rather than trying to make quick gains, don't make hasty decisions.

[jeraldskie11]

Op trading is not easy as you are saying though those are some of the steps to be a successful trader  but nobody is perfect in trading. In trading the master of all is master of none.

Without a plan to manage risks and deal with market fluctuations, emotions will control you, and the last thing you want is for emotions to control you. Therefore, be careful of trading without managing risks and setting specific points by which you know profit and loss and when to stop your loss or collect your profits.

Sometimes when trading we are facing problems such as emotion is controlling you that you didn't notice at all. That's why it's better to always put a stop loss when we trade to avoid big problems in the future. There are many situation like that before that can make traders funds disappear. We don't know what really the cause of that but I believe that most of that was cause by not putting a stop-loss.

[JunaidAzizi]

Do you have something to add?

Well, you cover all the things, I guess, but as you know, trading is never-ending, so there are many more things to cover. There is a famous quote that if you want to earn more, then learn first and then utilize all these things you learned. People have less control over their emotions, and all the damage and losses come from these emotional failures. People fail to control their emotions from FOMO, aggression, fear, and especially from greed. Some users, when they see news, don't want to verify it and go to trade, and then they realize their mistake when they face loss. So, in my view, emotional control is playing a crucial role, and those people who control their emotions will be successful.

[Agbe]

That's why it's better to always put a stop loss...

Hey!!! jeraldskie11, I don't know if others have also noticed that the "stop loss" in trading doesn't work sometimes. Mostly when the market is crazy shooting. I have lost trading with the stop loss indicator inserted in the trade. So what I will advise traders on that aspect of trading is even though you configured your trade like that you still need to be vigilant and once it tries to penetrate or cross the "stop loss" then you stop the trade. And don't depend on it because you will lose well.

[jeraldskie11]

That's why it's better to always put a stop loss...

Hey!!! jeraldskie11, I don't know if others have also noticed that the "stop loss" in trading doesn't work sometimes. Mostly when the market is crazy shooting. I have lost trading with the stop loss indicator inserted in the trade. So what I will advise traders on that aspect of trading is even though you configured your trade like that you still need to be vigilant and once it tries to penetrate or cross the "stop loss" then you stop the trade. And don't depend on it because you will lose well.

It is better to put a stop-loss than to lose more money. The stop loss is an indication that does not agree with your desired price trend. So your stop-loss should be the invalidity in the trade so you don't think it's bad to put it. Also don't use an indicator for stop-loss because it doesn't know where the invalidity that you see.

[albon]

You have already analyzed valuable content but i want to think about a few things. It takes a lot of patience to learn trading and it may take years to lose your trading. On the other hand nothing is possible in haste especially all business requires patience. However when you understand about this, try harder. Start trading with very small amount because at first you will get loss out so starting with a small amount will prevent you from wasting your money. Then when you get profitable trading, then you can trade with as much money as you want.

[Aanuoluwatofunmi]

Patience means a lot in trading, this could be for a trader to take time in learning on how to trade and know when perfect to trade, there's need for us to be patience also in other to help us acheive having a better experience while on trades because it will make us avoid making some common mistakes which could have affected us while on trades if we didn't have patience on it.

[Jamal Aezaz]

A person should have patience before entering into the trading and it is important to give time to learning first prior to diving into trading so those who have no patience will not be able to learn because they will be in a rush of entering into trading.

If the market turns red then it is important to be patient because that is not a good time to trade and chances of losing at that time will be enhanced. If your loss increases then think with patience and try to stop trading for sometimes because your loss can increase if you trade without patience and without knowing about the reason for your loss.

[Rruchi man]

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.

Just like I already said on BTT, it is good to allow your trade to always hit the target, but it is not compulsory that you let your trade always hit your target profit.

Sometimes, in special circumstances, you could bail out of a trade once you feel comfortable enough with the profit that you have made from it. It takes some kind of skill to be able to recognize these moments.

[Sim_card]

I agree with what you said about patient as a trader because if you are not patient enough you will not be able to acquire the needed skills to be a successful trader and you will not be able to make right decisions in the market in other to manage your losses. Trading is not a get rich quick scheme just the way most newbies think about it and it takes a very long time and sacrifice to acquire the proper knowledge. Only trade with the amount of money that you can afford to lose when trading and be patient with the market by not jumping into the market when you don't understand the market.

[jeraldskie11]

I agree with what you said about patient as a trader because if you are not patient enough you will not be able to acquire the needed skills to be a successful trader and you will not be able to make right decisions in the market in other to manage your losses. Trading is not a get rich quick scheme just the way most newbies think about it and it takes a very long time and sacrifice to acquire the proper knowledge. Only trade with the amount of money that you can afford to lose when trading and be patient with the market by not jumping into the market when you don't understand the market.

Yeah true. Sometimes, we want to trade every day and we have a goal of 1 trade everyday, but even if we don't see a good setup on the chart that fits our criteria, we still try to make an entry, this is also one of the reasons of losing. So we have to remove that goal and focus on if we see a setup that fits our criteria to increase the quality of our trades.