What does patience mean in trading?

[Cookdata]

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."

Most of this theory are even hard to remember when you engage in real trading because you don't even have enough space on your head to put this on and on but I agree with the point mentioned patient, if you don't have it in trading, you will definitely lose money more than you can ever imagine.

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.

Rushing to set up a trade without understanding the direction of the market or have the chart is pure gambling and gambling is assumption which can either lead you to success or failure but most of the time if the market is unpredictable, you will definitely lose money.

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?

This your last part is subjective to market bullish. It's not all the time you get the opportunity to hit your targets, this is why it's good to have trailing profits in a uncertain market because even when you don't know what's next on the market, you will always have profits to take but if you insist that you must take profits at your target, you might not get the chance again especially in a smart market when people didn't fomo.

[Dzwaafu11]

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?

As a trader, I think everything in trading is patience from the start of the journey till when you start making money out of it because it is not easy to be losing sometimes and can’t give up, although all your points are very good and I agree with them, but when you are in trading or at a point of trading, many things are here that you mentioned, and that trader won’t remember them again because by that time many things have been in his head that he really wants to see that he makes money out of what he is doing at that time.

But one thing is for sure: as a trader, once you are into trading and you have professionals in it, believe that regardless of how bad the market is, you will not make any wrong discussions because you have the knowledge and how it works, so definitely you will mind how you trade and also control your emotions and get out of greed at that time.

[Zoomic]

Every trader needs to build a level of trust in their abilities to trade effectively and this trust is not built in one day. A trader who does not believe in himself and the strategies he is putting forward will end up making the wrong decisions due to too much guess works or over reliance on copy trading and live all his life copying other people's patterns.

A trader needs to equip himself with the right information all the time so he can trade without neccessarily involving emotions that will ruin his trades. But when a trader becomes more concerned about earning than learning, he will be creating strategies that will maximise his losses. A trader needs patience to strategize.

[Dewi Aries]

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.

Rushing to set up a trade without understanding the direction of the market or have the chart is pure gambling and gambling is assumption which can either lead you to success or failure but most of the time if the market is unpredictable, you will definitely lose money.

That's right, everything that is done without being based on knowledge can be assumed to be gambling, therefore this is the reason why a trader is always advised not to put limits on learning, or what this means is that a trader is always advised not to give up when it comes to learning. learn, because as long as the market moves there will always be new things that we will discover, and the benefit is clear that by always being willing to learn various things, especially the habits that a market has, it can help us in making decisions when it turns out the situation is moving. the market is happening again.

Profits in trading are not based on luck but rather are based on how skilled you are at executing every situation that occurs in the market, and obviously you will only know what decisions to take when you have knowledge that will tell you about where the market is heading. will move next, although there is no certainty in terms of profit, by doing this your chances of profit can be higher, and the point is, don't treat trading like gambling.

[Questat]

       -      You know, in trading, if you are going to have patience, you should also accompany it with self-control or discipline, and above all, don't let our emotions control us; instead, we should be the ones who control it so we don't lose focus.

There are a lot of people who fail to control their emotions incorrectly, which usually happens when other traders get carried away by their emotions, which is why the result is that they sell their holdings of crypto assets at a loss, thinking that they will not rise again. .

In general, patience is the key to success in trading. When you don't have patience, most likely you also lack discipline and self-control which will definitely make you lose from your trades. This is the reason why trading makes it more hard and tough, since not everyone can be patient enough when it comes to trading while dealing with such an unpredictable and uncertain market.

[uswa56]

Every trader needs to build a level of trust in their abilities to trade effectively and this trust is not built in one day. A trader who does not believe in himself and the strategies he is putting forward will end up making the wrong decisions due to too much guess works or over reliance on copy trading and live all his life copying other people's patterns.

A trader needs to equip himself with the right information all the time so he can trade without neccessarily involving emotions that will ruin his trades. But when a trader becomes more concerned about earning than learning, he will be creating strategies that will maximise his losses. A trader needs patience to strategize.

Continuing to learn and practice trading, of course this will help a trader's self-confidence and as you said, this cannot be obtained easily, of course they must be able to be patient with every process they have to go through so that they can have confidence in the knowledge they have.

When someone does copy trading, of course they don't believe in their abilities or their mistakes in understanding trading, of course this is very detrimental and it would be better for them to learn again so they don't continue to experience losses.

In trading, of course, patience is needed so that you can analyze first before making a decision and when they have made a profit they can take the profit they have made and don't let them be greedy in trading which will cause them to lose.

[el kaka22]

This is a very good analysis on why patience is the most key attribute for any trader. We are going to realize soon enough that we can't make it work any other way and if we are patient then we are going to be a lot more richer in the end.

So, this is why I think that people should be aware of the fact that it is going to take time to be good, and it is not going to be easy, but if you know what you are doing, then you are going to end up with a lot more, and that's the most important thing. Waiting, and not rushing will be key, and I see a lot of people who can't wait to start trading when they haven't learned anything, or can't wait to make a trade when they haven't found any good ones, so it is quite true that we are talking about people acting too quickly when they should wait more.

[Barikui1]

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?

Actually, in other to be successful in trading, you definitely need to be patient, And it one of the major reason traders lose money, they can't wait for the right set-up, they don't know that it's very important to treat trading as hunting, where you will have to wait for hours so as to make a catch, that's what professional traders do, they just don't trade because they feels like it, they only trade when they sees opportunities.

Lastly, if as a traders you can't wait for a candle sticks to close before making decisions as a price action trader, then just know that you aren't ready to make money in trading, you have to wait till all your fact and analysis are right, before opening a trade, so in essence is that patience is as important as knowledge on technical and fundamental analysis, risk management and knowing how to control your emotions.

[josgandosbro]

Trading is not easy to get profit and not easy to hand the trading. Traders will be know about the trading process. We need to tack the time for trading process. Patience important for the trading process. So don't lose the trading hope. It any time to increase the price value. Tack time and trade correct move then will be wait for some time. Time is important for the trading process. So time to acct. Patience is important for the trading investors.

[Natalim]

This is a very good analysis on why patience is the most key attribute for any trader. We are going to realize soon enough that we can't make it work any other way and if we are patient then we are going to be a lot more richer in the end.

So, this is why I think that people should be aware of the fact that it is going to take time to be good, and it is not going to be easy, but if you know what you are doing, then you are going to end up with a lot more, and that's the most important thing. Waiting, and not rushing will be key, and I see a lot of people who can't wait to start trading when they haven't learned anything, or can't wait to make a trade when they haven't found any good ones, so it is quite true that we are talking about people acting too quickly when they should wait more.

Trading is not about rushing to make quick profits and trade even without prior learning in the market, but it's all about building your own skills and strategies in trading in which you can only achieve if you can take time to learn and become more patient without putting pressures on yourself to earn instantly. Trading is certainly hard and quite tough, that's why you need to give it a lot of time to learn and build good and bad experiences because that's the only way so you can be a good and reliable trader in the process.

[justdimin]

They can try to be patient when they actually need to exit the market and unfortunately in contrast they try to exit the market panic when they should hold tightly.

They will be tested and challenged by the volatile market before they have enough experience and understand about the market enough to have diamond hands for holding tightly. They will be able to choose a good cryptocurrency for holding, it's Bitcoin. It helps them to be less fearful with holding that is impossible with altcoins.

If they can not hold bitcoin, they won't be able to hold altcoins but let's say it rightly, I emphasize that I don't recommend to hold altcoins.

Not suggesting holding altcoins means that you are either talking about just lower ones, or you also mean the big ones too? Because I would highly suggest holding ETH for example, ethereum is a great coin and I think I will buy more and more of it if I had the money, do you mean people shouldn't hold that too? Or do you mean like low cap ones or meme ones etc?

I have about six altcoins in my portfolio, totalling nearly 50%, most of that is eth of course, while some others are bnb, sol, matic, avax, ada so they are quite good if you ask me. I have some "dust" ones here and there too but they do not total like 10 dollars all combined so I do not consider them as investment. I suggest holding good alts, they are usually very good.

[DaMut]

Everything is all about patience in trading, its one of the most important things you need all through your trading journey. the more you advance in the journey the more you see the importance of patience and the more you are able to remain patient before trading, after your analysis, waiting for set up to play out, waiting for trade to hit target.

[Webetcoins]

This is a very good analysis on why patience is the most key attribute for any trader. We are going to realize soon enough that we can't make it work any other way and if we are patient then we are going to be a lot more richer in the end.

So, this is why I think that people should be aware of the fact that it is going to take time to be good, and it is not going to be easy, but if you know what you are doing, then you are going to end up with a lot more, and that's the most important thing. Waiting, and not rushing will be key, and I see a lot of people who can't wait to start trading when they haven't learned anything, or can't wait to make a trade when they haven't found any good ones, so it is quite true that we are talking about people acting too quickly when they should wait more.

Yes, it is exactly like that when we talk about trading, the first thing that comes to our mind or the first thing that we are taught is that we have to learn and understand these things first. You have to be patient, wait, and not panic, and traders who learn these things eventually emerge as successful traders.
But one of the most important things is to strike a balance. I think even for those who wait, trading is ineffective because they wait so long for the right time that the right time comes and goes, and they are not able to make their profit.

There is a great need to learn to balance things while trading, we have an idea of directions, we can make decisions at the right time, and we can still become successful traders. Those who are uninformed and unable to make decisions at the right time can never become successful traders.

[Asiska02]

Do you have something to add?

Still more to being patient while trading. If you’re too excited with the market showing you good signs even when your analysis have not given you the go ahead is a big means not a good virtue of a good trade that should inculcate patience into themselves before trading. The market is very tricky but if you always stick to your plan, you’ll always see good results coming in your trades. If you’ve a plan that works for and always wait patiently for that set up to play, you’ll incur less loss and more wins in the market. You just have to be patient to perfect your strategy and try it out and when it works, you’ll begin to see changes in your trade for lifetime.

Everything is all about patience in trading, its one of the most important things you need all through your trading journey. the more you advance in the journey the more you see the importance of patience and the more you are able to remain patient before trading, after your analysis, waiting for set up to play out, waiting for trade to hit target.

Waiting for trades to hit target is one of the most important thing many traders lose out on while trading. When they’re winning, they’re eager to close the trade before hitting their target even when their analysis is still validated. Then when they’re in loss, they are in haste to close the trade because they don’t want to lose the money. A good trader should know how to abide by their stop loss and take profits target whenever a trade is placed.

[Dr.Bitcoin_Strange]

Well, patience is correlated with almost everything we do in life as we grow up. Parents have to carefully take care of their children while patiently waiting for them to start walking, talking, and feeding themselves with their hands. Someone has to go to school and patiently keep studying until they graduate after 2 to 5 years of studying. One has to apply for a job and be patient until they are hired. 

Almost everything we do requires patience, because being impatient can result in getting a bad result or not archiving a goal that was meant to be archived. 

A trader needs to have patience, learn how to trade, experience some losses, learn from their mistakes, and so many other con and pro's, and after they have surf through, they can become good traders. 

[irhact]

Everything is all about patience in trading, its one of the most important things you need all through your trading journey. the more you advance in the journey the more you see the importance of patience and the more you are able to remain patient before trading, after your analysis, waiting for set up to play out, waiting for trade to hit target.

Patience is important but I think we shouldn't be having too much patience all the time as we don't know how the market wants to move. Sometimes the market will be giving us a sign that the market is going to dump and if we don't get the signals on time, we might be caught in the market and we lose the trade. If the market isn't going according to your reading, you need to end that trade and try again some other time. You don't have to make profits every time that you're trading. You can have addiction to trading and you're losing just because of having patience at the wrong time. Patience gives you profit when you get your timing right. People have lost money while trading as they didn't do their calculations right on leaving the maker. They decide to give it some time and lost.

[boyptc]

I have heard that first tip at A) from an old friend of mine and told me that before. But he used it to in a wrong way, not that he really used it but we're both tricks when the internet scams were rampant for ignorants like me decades ago.

Although these scams are still rampant nowadays. It was way different before when no one was there to teach and guide you to avoid them.

Patience means a lot and everything in trading and investing, you will not just learn that attitude towards your trades but also in personal life.

[Bitmarshal042]

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?

To be patient in trading means to be logical and diplomatic before diving in into trading in the sense that you must examine and understand the flow, also gather and screen people's past experiences before trading.
Also any money you can't recover from when you lost it, don't put it into trading, because definitely losses in trading is inevitable, so you must be conscious of that and be sure that it is a loss you must be able recover from.

[jaberwock]

Well, patience is correlated with almost everything we do in life as we grow up. Parents have to carefully take care of their children while patiently waiting for them to start walking, talking, and feeding themselves with their hands. Someone has to go to school and patiently keep studying until they graduate after 2 to 5 years of studying. One has to apply for a job and be patient until they are hired. 

Almost everything we do requires patience, because being impatient can result in getting a bad result or not archiving a goal that was meant to be archived. 

A trader needs to have patience, learn how to trade, experience some losses, learn from their mistakes, and so many other con and pro's, and after they have surf through, they can become good traders. 

Not related but it can only come from within. Can't you see that there are lots of people who complain and fail? This is because they lack of it. Indeed that growing someone or something, especially if you are really curious to see what they will look like after, requires a good patience but even if we don't have it, some things or some one can still grow naturally on their own.

Seeing some nice result is important, even if it's not consistent because it can give someone a hope or a motivation and if they can only see the same thing or they think they are not progressing, they will think that what they are doing is useless and this leads for them to quit. This can be a good decision though and they can try their luck on other things instead.

[Lakai01]

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.

This point is only necessary if you don't have a plan on how to structure your trades, what the exit points are, etc.
If you have this plan (and you absolutely should!) then it has less to do with "patience" and more to do with "sticking to your plan", i.e. sticking to it even if, for example, trades go badly or you think you absolutely have to add money to trades that are going well ... and then - as always - immediately turn negative.

Patience is therefore mainly needed for your first 3 points, the 4th point is obsolete with a good plan. Or at least it should be.