Patience Is A Trader's Virtue

[Aditya1011]

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

[qiwoman2]

I agree, you need patience and stealth like qualities in order to find those hidden gems and opportunities. I try to do a little trading now and then but mainly do the long term trades on altcoins I like to hold for a long time. I had some really good coins and sold them off way too early, like I had 100 dash and sold them at 12 dollars. One thousand bitcoin plus and sold for 12 dollars at the time. I million NEM that would have made me a millionaire. If I were as wise as I am now, I would have held those beauties long term and now be settled for life. Patience and knowing what to hold and when to hold is key.

[davis196]

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Many people don`t understand,but trading is like any other nine-to-five job.It requires persistency and patience.It`s better to make 1000 small trades and grow your profits slowly,instead of waiting for the big hit.
That`s why i`m not very active at cryptocurrency or forex trading.It gets boring and kinda frustrating for me with all those charts and analysis.Can you share your experience with us, OP?

[Low Sigma]

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Many people don`t understand,but trading is like any other nine-to-five job.It requires persistency and patience.It`s better to make 1000 small trades and grow your profits slowly,instead of waiting for the big hit.
That`s why i`m not very active at cryptocurrency or forex trading.It gets boring and kinda frustrating for me with all those charts and analysis.Can you share your experience with us, OP?

I would say that trading is not like any other nine-to-five job. Instead it is more like 12 hours/day research or even more.
Yes it is better to make 1000 small trades than wait for the big hit, but only if you can cover the trades friction: spread, slippage and commission.

[DGulari]

Patience is not and can't be called as "skill".it's also can't be learned. It's same as greed which all people owned since start.

[Fantastic33]

Yup exactly! A trader needs to be patient. Patient on tracking bitcoin's price if its going up or down. Its like being up to date from time to time... being patient when to sell or hold bitcoin. Yup truly one of the skill needed by a trader. Without this, your bitcoin will crash.

[Low Sigma]

Patience is not and can't be called as "skill".it's also can't be learned. It's same as greed which all people owned since start.

If what you are saying is true, then why I became more patient with my trading along the years?

[pushkarmore]

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Yes, i agree with you that Patience is a trader's virtue and it is one of the skills that takes time and effort to learn and apply in our trading lifetime. Especially if you are a investor or trader, then it will take almost 20 to 30 investment decisions to master the patience skills in your mindset. If trading is your full time career then it is must to develop the patience skill in you.

[dothebeats]

I could attest to this. I've lost several hundred dollars due to impatience and if only I waited a couple more hours, those bad trades could have given me some hefty profits. I've learned to have some patience the hard way, and that is by losing money in the process. Also, the crypto market is a fast-paced trading ground, but patience still holds its place and has its own rewards for traders that know this little virtue.

[Idrisu]

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

"patience is a trader's virtue" But did you know about 95% of traders are guilty of this? We like patience and that is the reason why we are at were we are today. For example there are people who sell their bitcoin in February this year when bitcoin fell from $1,300 there about to $765 and now bitcoin is above $17,800. As a traders who must have sold loss then, if you are patience you could have become a millionaire in your local currency especially if you are from a third world country if you sell today. For those who might be have fund to invest, should buy now as today still present the best time to buying cheap compare to were bitcoin is going to be in 5 years to come and all you just need is to be patience with the market and see how your coins add-up.

[DaMut]

indeed Patience is an important thing for trader,but other than that we still have a lot thing that we need to learn and have to as a trader.
as a trader we need to think about everything logically and be smart,
most people lose their money because they believe and keep holding for some shit out there.
even though you have a ton of patiences in your mind but you can not think smart and rationally,
in the end you will lose it because you will only hear about what people says instead of doing your own research.
other than think about it logically and be a smart,
you have to be a cool headed man,solve every problem that you face with your knowledge.
never let your emotion to take control of your body and your action.

[ReLieD]

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Like patience, it sounds like a very easy thing. Like if you see the definition of the word , it just means wait and actually you don't have to do anything when your waiting. This sounds easy but everyone has an anxiety which doesn't allow them to be patient. Actually patience needs alot of skill and self control. People might easily say that they are patient but when they will have to actually test it they will probably fail .

[semobo]

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

As you said patience is very important for the traders and investors many people failed in this case, people try to sell their savings even when there is a little price drop on bitcoin or other coins.They will worry about what they did later.
So people have to be patient when the hard time comes then they can earn more profits later,just need to control their emotions.

[matchi2011]

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

It's developed don't worry. Most traders don't have patience at the beginning as well so don't worry because through experience, it will come to you. Trading takes time and a lot of emotional control that's why patience is essential and the more you trade, the better you'll get a grip of your emotions

[hritevanz]

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

I won't blame you for saying that patience is one of the most difficult skills to learn as an investor and trader because obviously, we all want to earn lots of money in just a week. As a trader, the reason why most of them lose their money is because of the fact that it hard to wait to sell and buy at the price that we are expecting and when there's a dump for those who want to sell their coins, they panic that the bitcoin will crashed someday which results to lose half of their money by selling their coins at lowest price.

[vv181]

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

It's developed don't worry. Most traders don't have patience at the beginning as well so don't worry because through experience, it will come to you. Trading takes time and a lot of emotional control that's why patience is essential and the more you trade, the better you'll get a grip of your emotions

Agree, That why everybody recommends a newbie trader to start with a low amount or even only doing a demo trading. The skill and the experience have to be build by practicing not just learning from theory.

[mobnepal]

I think I am also one example of impatience trader as I have lost chance of making 1000s of dollar from just few coins which I was holding for months.

OMG
MCO
ETH
LTC
XRP

are few coins which I have kept with me for months but cashed them out for small profit of few hundred.  

I am still learning skill to be patience which I also think is key for success in trading.

[Intersan]

I could attest to this. I've lost several hundred dollars due to impatience and if only I waited a couple more hours, those bad trades could have given me some hefty profits. I've learned to have some patience the hard way, and that is by losing money in the process. Also, the crypto market is a fast-paced trading ground, but patience still holds its place and has its own rewards for traders that know this little virtue.

I have also lost good profit value because of impatience and I regret it and took it really hard since it was my first time. But after a week, I realized that I have to recover since it will probably not my last. Trading is not easy because other than patience, it will also require time and effort from the trader because if you will not give those two, you won't be able to do a good trading. I may have avoid selling at low price because of my first experience but of course, another possibility exists, like selling and then the price go up big time. This is just a good example of how volatile bitcoin and cryptos are that their price changes easily so the smarter way of earning is just to never sell below half of the price of that coin and make sure that you will be selling on the price that can be considered closed enough to the highest price.

Be careful in trading as there are many people trying to steal your coins. Be cautious and most importantly enjoy trading as it will help you a lot to earn profit.

[kaya11]

Patience is not and can't be called as "skill".it's also can't be learned. It's same as greed which all people owned since start.

If what you are saying is true, then why I became more patient with my trading along the years?

It's not greed, you are only trying your best to hold those tokens of yours, and I don't know for what reason. Other people on this are not just here to earn profits but to also contribute to the cryptocommunity and make it known to the whole world. You've got your patience and no one is gonna steal it from you, relax you are doing fine and continue trading.

[Kemarit]

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Oh dear, you don't have to preach it. Everyone knows that already, but yes its the most difficult thing to do, but I don't consider them skills though, I think its more of a mindset or feelings rather than talent or skillsets. From my personal perspective its one of the most difficult to control, like greed. It takes mental toughness to overcome it.

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Like patience, it sounds like a very easy thing. Like if you see the definition of the word , it just means wait and actually you don't have to do anything when your waiting. This sounds easy but everyone has an anxiety which doesn't allow them to be patient. Actually patience needs alot of skill and self control. People might easily say that they are patient but when they will have to actually test it they will probably fail .

Yes, its not easy as it sounds. Most people are very impatient and if they go trading, they will be having a hard time to control it because they are used to be like that. And as a result they lost and just quit trading for good. I don't know if it can be self taught though. But I guess through practice and experience, maybe there is a chance that you can learn to control it if you have been trading for so long already.