Being a patient person is more important than becoming a trader

[Platinumys]

Patience is a very important thing in trading, if a trader cannot show maximum patience in trading then it is difficult for him to get good profit by trading. 

I myself have realized these things through myself several times.  I did regular trading for a few days and during that time I bought a particular coin but I didn't have much patience before buying but when one of the candles was slightly negative I bought that coin. When I waited a while after buying the coin I saw that the market went down further and at that time I thought that if I had been a little more patient I might have been able to buy one of the coins at a lower price. 

In that case I have losses as long as the market is down and I wait for the market to recover. When the market starts to recover, I sell my coins at a relative profit. But when I sold my coins after some time it was seen that the market went much higher and till then if I could have held my coins then I would have got several times the profit of the profit I had sold. This has happened to me several times, that's why I am trying to be patient as much as possible, and learn more about trading. 
And it seems to me that maybe I can get good amount of profit from trading if I have patience at the right time.

[TheUltraElite]

The idea of patience is relative when it comes to the crypto market. If this was the stock market, defenitely patience is important.

How I see it,

When you are buying bitcoin you buy at a low, so to touch that price you need patience. But for altcoins, this is a useless effort to make. Because bitcoin will rise for sure but no such assurance can be given to altcoin even if you are buying at multiple levels downwards if it falls.

In other words there is no mental stability when trading altcoins. Patience there is wasted when you could have used that patience to seek out good prices for bitcoin.

Either way time is something of a love-hate thing in trading.

[Oshosondy]

And it seems to me that maybe I can get good amount of profit from trading if I have patience at the right time.

Yes. But the best are those that are holding and also swing traders. I do not mean altcoins but bitcoin. But trading is very risky. If you are patient and making profit, your patience will be reducing but you will not know. You will think you are now a better trader and slightly your trading pattern will be getting different and later lead to losses. Patience is good but traders need to be very watchful of it and make sure that they are patient. It is easy to say but not easy to practice it.

[hugeblack]

You can't always buy at the low point. Even the best traders and technical analysts can't accurately predict the bottom, but within a range of 5% or 10%.
Try to buy in 25% increments and sell in increments. For example, if the price drops below $1, buy as follows:

- 0.9 25%
- 0.8 25%
- 0.7 25%
- 0.6 25%

This can be determined by support and resistance levels.
The opposite is true for buying.

[Pandorak]

basically it's not just patience that you need to try to make a profit in trading, but no less important is SCIENCE, if you don't have it you will experience confusion due to ignorance of why prices are falling, for short-term trading technical analysis is very necessary, you can learn it, such as supply and demand, support and resistance, breakouts, price corrections. Those are some basic things you need before starting a trading session.

You can't always buy at the low point. Even the best traders and technical analysts can't accurately predict the bottom, but within a range of 5% or 10%.
Try to buy in 25% increments and sell in increments. For example, if the price drops below $1, buy as follows:

- 0.9 25%
- 0.8 25%
- 0.7 25%
- 0.6 25%

This can be determined by support and resistance levels.
The opposite is true for buying.

A good strategy, this can minimize risk and maximize profits, this strategy is very useful for beginners who want to start trading, money management is very necessary here.

Maybe i will personally give a little advice to @OP, if you want to have a fairly high win rate try to trade on TF Daily, try to trade when the market is rising so you only need to look for correction points for entry, don't forget to set take profit and stop loss if you want to trade short-term.

[Sanitough]

There are good traders and bad traders, and patience is just one of the many traits that make a trader successful. But patience isn’t just about waiting but it’s part of a strategy.

If you lack knowledge, you won’t know how to be patient because you’re uncertain about your decisions. A trader who understands the market knows when to wait and when to act, while someone without knowledge rushes trades out of fear or greed.

[Frankolala]

It's not easy to know what next will happen in the market and that's why traders without the right knowledge will always run at loss. Being patient with the market is good, but when you don't know what you are doing, it becomes a big problem to you. It's better that you don't trade when you don't understand the market. I am only into spot trading and I do that with extreme caution.

[maydna]

I agree that we as a trader, we must have patience and not in rush making a decision. We must analyze the market before we enter the market and from our analysis, we know when we must quit from market. With patience, we will not panic when the market is down because we see that will be a good opportunity to load more amount of the coin and hold it for some time.

We can sell the coin when the price increase higher than the high price before. That help us to make a profit so that is why we must be patient waiting for the market back increase. We can leave the market for a while if we think the correction will be there for a while so we don't think negatively about the market.

[OcTradism]

Patience is a very important thing in trading, if a trader cannot show maximum patience in trading then it is difficult for him to get good profit by trading. 

Patience is an important trait of a successful trader but it doesn't mean that if you have enough patience, you will succeed in trading. Like you are patiently waiting a very long time in the market, but when you enter it, it's a wrong time, you will lose money with your patience.

I mean there are other things to make up a succesful trader, and only patience is not enough.

Patience or not, you must understand about market cycles, technical, fundamental and historical, as well as knowing about it psychology of market cycle. Then you will have more knowledge on the market and can use your patience better for your entry and exit in the market.

Psychology of market cycles.

Use stop loss order, one of best weapons in trading.

[Zaguru12]

Patience is an important trait of a successful trader but it doesn't mean that if you have enough patience, you will succeed in trading. Like you are patiently waiting a very long time in the market, but when you enter it, it's a wrong time, you will lose money with your patience.

I mean there are other things to make up a succesful trader, and only patience is not enough.

Patience or not, you must understand about market cycles, technical, fundamental and historical, as well as knowing about it psychology of market cycle. Then you will have more knowledge on the market and can use your patience better for your entry and exit in the market.

I agree that been patience alone doesn’t count in trading but sincerely it is the bedrock of everything in trading and everything. First of all you need patience to seek knowledge and need patience to also know that this market isn’t something a few days seeking knowledge will grant you. It is also the same patience in my opinion that will teach you that losses are part of the game.

Just as you have put it without knowledge patience in a market can even lead you to more losses, technical or fundamental knowledge will teach you when not to hold a trade most especially those trading altcoins as to cut losses. Knowledge like Risk Management are sometimes what makes your patience worth it, with risk management you can set a good stop loss and even during loss you can have patience holding your trade knowing that your stop loss is in tact. For me i categorize risk management and patience as a psychological skill that you need to have to be a successful trader.

The percentage to be successful is 80% psychology and 20% knowledge (fundamentals, sentimental and Technical)

[lixer]

Yes. But the best are those that are holding and also swing traders. I do not mean altcoins but bitcoin.

He wants to hold for a while if he thinks it is bad to make a move. You said only Bitcoin but BTC is a quick/easy gainer and it was actually the alts that requires us to have more patience but there is also a big reward waiting at the end, knowing that we can buy them much cheaper than on Bitcoin.

If you are patient and making profit, your patience will be reducing but you will not know. You will think you are now a better trader and slightly your trading pattern will be getting different and later lead to losses. Patience is good but traders need to be very watchful of it and make sure that they are patient. It is easy to say but not easy to practice it.

Why will you change when you are already doing great? Though, there are people that can't be contented and once they have more money, they became greedy.

Patience is good but traders need to be very watchful of it

Or better say that being impatience is what many are doing thinking it is good but being patient is actually much better. Even though trading is a fast paced activity, being patient to hold on a bit might work like a charm too.

[Nheer]

It's not easy to know what next will happen in the market and that's why traders without the right knowledge will always run at loss. Being patient with the market is good, but when you don't know what you are doing, it becomes a big problem to you. It's better that you don't trade when you don't understand the market. I am only into spot trading and I do that with extreme caution.

The market is very hard to predict. Even experts can't always get it right. But they have knowledge that helps them make smart decisions.To be a good trader, you need to be patient. But patience isn't enough. You also need to understand how trading works.
Trading is risky. Before you start, make sure you know what you're doing. Be careful and don't take big risks without thinking them through to avoid losing too much.

I agree that been patience alone doesn’t count in trading but sincerely it is the bedrock of everything in trading and everything. First of all you need patience to seek knowledge and need patience to also know that this market isn’t something a few days seeking knowledge will grant you. It is also the same patience in my opinion that will teach you that losses are part of the game.

I absolutely agree with you, even if patience is not the only thing a trader needs to be successful it is still a very important thing for all traders to succeed and as you mentioned it is really the bedrock of almost everything in trading. Patience is required to learn about trading because if you rush and don’t take time to learn you pushing yourself towards failure.

[Victorybit1]

The key to becoming a successful trader is to first become a patient person and this has a lot of things to do with discipline. There are people who trade and this lack this virtue, as a result of this they have lost a lot of money. Patience isn't something that you can be taught it's something that you must learn. Understanding the importance of patience would fix your mind from becoming too desperate. Don't just rush into the market without any planning or strategies, patiently and carefully plan every trade that you are going to place.

[Natalim]

Being patient is crucial in trading, but let’s not forget that having a reliable knowledge and experience about crypto trading is the key to reach the goal of trading success. If a single trader can apply all of them, losses will be prevented, but will maximize trading for profits and good returns. However, this may be easy being said, but really hard when you are experiencing the uncertainty with trading market.

[Botnake]

And it seems to me that maybe I can get good amount of profit from trading if I have patience at the right time.

Yes. But the best are those that are holding and also swing traders. I do not mean altcoins but bitcoin. But trading is very risky. If you are patient and making profit, your patience will be reducing but you will not know. You will think you are now a better trader and slightly your trading pattern will be getting different and later lead to losses. Patience is good but traders need to be very watchful of it and make sure that they are patient. It is easy to say but not easy to practice it.

This is why one should trade with caution. Being patient alone cannot guarantee profitability, so you have to be very careful with how your trades are going on. Mistakes and losses are not just the results of being an impatient trader, but if you trade without those basic knowledge and reliable experiences in the market, meaning you are trading blindly, you will definitely end up being a non-profitable trader. In that case, it’s better to just stick with buying and hodling first.

[Mahanton]

Patience is a very important thing in trading, if a trader cannot show maximum patience in trading then it is difficult for him to get good profit by trading. 

I myself have realized these things through myself several times.  I did regular trading for a few days and during that time I bought a particular coin but I didn't have much patience before buying but when one of the candles was slightly negative I bought that coin. When I waited a while after buying the coin I saw that the market went down further and at that time I thought that if I had been a little more patient I might have been able to buy one of the coins at a lower price. 

In that case I have losses as long as the market is down and I wait for the market to recover. When the market starts to recover, I sell my coins at a relative profit. But when I sold my coins after some time it was seen that the market went much higher and till then if I could have held my coins then I would have got several times the profit of the profit I had sold. This has happened to me several times, that's why I am trying to be patient as much as possible, and learn more about trading. 
And it seems to me that maybe I can get good amount of profit from trading if I have patience at the right time.

Totally situational i should say on which we do know that not all coins/tokens will really be able to make out such movement on which there are those who do make out some dumps then after that then it wont really be able to recover and this is why you cant be able to conclude that all coins will really be moving up on the same way or having that kind of behavior. There would really be that factors that would really be affecting out such price movement on which its the basic but something that raises up that common questions into our mind on where it would really be going? Patience is really that needed but too much patience will really be leading out on missing out that opportunity specially when profit taking. Whenever you do find yourself getting left behind when the market shoots up then it does really bring up that frustration and having that feeling of regret because you have sold earlier but you should instill into your mind that profit is profit on which you should be contented on what you had made and also think off that there are tons of opportunities that you can be able to get on which you should be thankful that you are on the green side rather than on the red ones. Speaking about short of patience then there are those situations that you do made out some good call specially when trying out to sell out immediately as you do get negative and have made out the right decisions because the price had totally dumped and rugged. So there's still pros into these actions too.

[Mpamaegbu]

Patience is a very important thing in trading, if a trader cannot show maximum patience in trading then it is difficult for him to get good profit by trading.

In this industry (and trading in general), patience is a virtue that shouldn't be toyed with. It's either one learns this by the books or one learns it from experience (personal encounter). To be honest, it's better to know it from experience. That way one won't be tempted to be hasty. As a trader, that's why it's good to wait for candle close to take your decision. No matter how price moves, you've to wait for that candle you're watching to close its duration of time before you trigger a trade or exit it. I learnt this from experience, after I got burnt several times with my preemptive moves where I had to trigger trades prematurely. Patience is key. Traders should've it at the back of their minds that the market isn't running or fizzling out if they didn't trigger trades. Be slow to trigger trades, and when done; don't be in a haste to close them.

[hugeblack]

after I got burnt several times with my preemptive moves where I had to trigger trades prematurely. Patience is key. Traders should've it at the back of their minds that the market isn't running or fizzling out if they didn't trigger trades. Be slow to trigger trades, and when done; don't be in a haste to close them.

Yes, but time is limited, and most cryptocurrencies don't rise rapidly. If a token's price drops by 70%, it likely won't rise again in the near term (or it may never do so). Therefore, patience in such situations leads to missed alternative investment opportunities and real losses.

[Oshosondy]

after I got burnt several times with my preemptive moves where I had to trigger trades prematurely. Patience is key. Traders should've it at the back of their minds that the market isn't running or fizzling out if they didn't trigger trades. Be slow to trigger trades, and when done; don't be in a haste to close them.

Yes, but time is limited, and most cryptocurrencies don't rise rapidly. If a token's price drops by 70%, it likely won't rise again in the near term (or it may never do so). Therefore, patience in such situations leads to missed alternative investment opportunities and real losses.

Trading is more difficult than what Mpamaegbu just said. When a trader is patient, they can blame themselves for a missed opportunity. Also if they open a position, they may be losing. The market is so unpredictable. The only people that I know that are patient are those that doe not trade often but wait until the market turned to what they expected and they trade at the time. Leaving the trade opened for days, weeks or hold at the time.

People also need to realize that being a short term trader means they are not patient. I saw someone posted this and I think the person is correct.

[Dr.Bitcoin_Strange]

Patience is one very important thing in which any trader that wants to be successful should have it. Just like there are still some profitable traders out there, they never lack the patient to wait for a long time until they see a good opportunity to take only trade that will be profitable to them. Some traders can take days or weeks tracking and analyzing the chart just to catch a good trend when they will fix their position to get a good profit. Anyone that is not willing to be patient, wouldn't be profitable as much as they have that short term vision of getting rich overnight.