Being a patient person is more important than becoming a trader

[LogitechMouse]

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

It could help you, yes, but patience alone will not give you profits in trading.

A newbie can be patient in real life, but doesn't know a thing about trading. Can you say that the newbie will be profitable then just because they're patient? I know that patience is a vital key towards a success of a trader, but there are many things that they need to learn aside from that. They need to learn from their own experience. They also need to learn from doing research. I guess it's a requirement for a trader to become patient in order for them to have a higher chance of winning and eventually become successful.

Unfortunately, this is the trait that I don't have currently especially if I already saw that my position already is in profit. I'll immediately close it or adjust my stop-loss. This is the trait that I'm still learning to apply in trading.

Speaking of patience, I don't have that at all or at least I have a little. I guess it would be better for me to be a day trader than being a swing trader, right?

[dimonstration]

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.

This is common scenario for every trader which the momentum influences heavily our trade especially on taking profit after suffering losses that force you to hold for a long time.

Important thing to consider that always reach new high after experiencing dump and recover again the high price because no dead project that will bounce back the price if there’s no demand on it.

Always use fibonacci to determine what’s the perfect price to purchase and take profit.

[Peanutswar]

In market its all about waiting and patience not all you see in the graph are ideal to trade sometimes you need to take wait before making an execution with the market its all about confirmation its just even in life do you will move to the thing you already anticipated just to confirm or just make a risk without a proper plan. Not all the time making a risk is effective reason why you must need to identify the market structure to make your funds lessen the risk to lose money.

[Mpamaegbu]

~snipped~

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.

I wasn't referring to Spot trading in that comment as your response captured. I was talking about Futures trading. Futures trading or trading in other genres like Forex and Index don't work the same way as Spot where it's a one way route to making profit by buying low to sell high. Whether market dips or not it doesn't bother Futures traders. They only need to find the trend and trade in that direction, either buying or selling. Even a dumping market is a great opportunity for Futures traders to make money but not for Spot traders. I hope you see the difference now?

Trading is more difficult than what Mpamaegbu just said.

I never said trading was simple. I've only maintained that profit is achievable in trading. Nothing profitable comes easy, remember that. It takes a lot of time and effort to get a handle on trading and once that clicks it becomes a sweet flow, like rinse and repeat. Trading is the hardest way to make the easiest money as some people would say.

[tvplus006]

...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. 

No matter how patient you are, you still won't be able to sell your coins at high and buy them at low. And you need to remember that a profit is in any case better than a loss. After you have fixed a profit, you will have a lot of opportunities to buy cheap and sell expensive.

[OcTradism]

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.

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

It is more easily with investment than with trading, because investment is good for people who have patience and can wait for a long time to take profit. The condition is they choose a good asset for holding for example Bitcoin.

Trading is harder and patience is not enough. You need to be very disciplined with your entry and your exit, and be very clearly with yourself on both entry and exit before opening your trading position. Then be very disciplined to cut loss and exit the market if that position does not go well but time is running out. Exit the market is key to protect your trading capital, and patience in this situation might cause very big loss.

[bittraffic]

There was a user who once created such kind of thread where he thinks the market is watching his trades because every time he sells his BTC the price shoots up and every time he buys the price of BTC falls further as if it wants him to lose every time.

But patience indeed can help especially for someone who just meant to hold their Bitcoin regardless of what is happening to the market. 

[Asiska02]

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.

I thought you were going to talk about patience in futures trading but you are talking about spot trading which are all part of trading. Patience is key in the crypto space and when you can’t be patient enough in your trades, you’ll end up losing most of the times. When you’ve analyzed your market and waiting for it to reach the zone you’ve market out for it, just be patient and trust your analysis. If they work out it’ll be a good one for you but if they don’t, it’ll be on the not too positive aspect of it which will serve as a lesson to you when next time you’re taking such trades. What have just happened to you have happened to many others in their early stage of trading, with time you should grow over it and learn to be more patient and take more active decisions while waiting for the market to reach your point of interest.

[mirakal]

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. 

Indeed, it is necessary due to the uncontrolled market condition. But definitely this won't save us from losing, maybe at least not a huge amount compared to impatient traders.

That is why we don't just focus on learning how to trade but also how to manage our emotions. Because many traders have been in the market for many years but still find themselves having difficulty handling their emotions. Patience plays a big role in trading. Some traders might think it unnecessary, but for us who want to succeed, we must consider this as our top priority.

[Questat]

You can never be a good and effective trader if you aren’t patient in the first place, that’s probably the reason why a lot have become a failure in trading. You are dealing with such an unpredictable market, so you have to be patient as much as possible and analyze the market well, otherwise you will never be a good and sufficient trader in the market if you are not in control of your emotions.

[CroverNo01]

You can never be a good and effective trader if you aren’t patient in the first place, that’s probably the reason why a lot have become a failure in trading. You are dealing with such an unpredictable market, so you have to be patient as much as possible and analyze the market well, otherwise you will never be a good and sufficient trader in the market if you are not in control of your emotions.

Patience teaches most of us to become passive traders in the market. It can only take discipline and consistency to tag along with the volatility coverage of the market. I'm not directly trading every time, but once or twice in a week. There's this basis that's learnable in the market and also provides crucial aides for everyone. It doesn't matter the number of positions you've trigger open trade, what matters is the profits these trades open are giving you. Common you can't compare someone that's holding bitcoin for longterm to be on the exact same standard with someone that's busy opening trades everyday with these altcoins, who's target a higher profits and the ones targeting small?

[Stalker22]

You are right, patience  alone doesnt turn someone into an expert trader overnight.  Thats as silly as thinking, Im patient while learning how to ride a bike, so clearly I could win the Tour de France.  Theres more to it than that.  You gotta put in the time to study the market, practice trades and figure out what makes prices move.  Patience helps for sure, but skills and knowledge are pretty key ingredients too in becoming a consistently profitable trader and  its not magic or anything, just takes some work.

[TastyChillySauce00]

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.  

when you describes it like that, I think it's more of trying to find the bottom and top like in your case you're regretting not selling or buying later when the price of coin goes even better in your favour.
truth is even with patience, finding bottom and top is difficult, and whatever happen after you bought or sold honestly doesn't matter, as long as you're getting good entry or good profit.
because otherwise you're just gonna keep regretting your decision with your what if scenario, which is unnecessary.

[Kelward]

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.

In one phrase I'd say trading is hard. It's not for everybody, it's not something for amateurs who are in a hurry to make quick money. Patience is key in trading, you don't need to make decisions based on emotions because it can be very costly, you need to have experience to analyze and make the right decisions. What can help traders to be patient is if they have a major source of income that is not trading, they wouldn't be desperate to make money in trading. The desperation to make money in trading is what makes many traders to be impatient which most of the times leads to loses.

[jcojci]

Being patient will give a time for trader to think what he need to do regarding to the market situation. He will not think in rush and execute it following of what happen to the market. He can calm down himself and think the right strategy he can use and what he will do if the market change the situation.

When he face the dip in the market, he will not panic but take a deep breath and trying to calm down first before he think. He will search for a way to get out from the hard situation and with patient, he can make another strategy that works for him.

When he want to take profit, he will analyze before decide and trying to figure out how high the price will increase. If he think it is okay to take profit at the price now, he will do that even if the price increase higher, he will not regret of his decision.

[$weetne$$]

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. 

A traders need to be very patient before he starts learning how to trade because without being patient, you can not learn trading properly. Learning has many stages of you failing and without being patient you can not keep going. As you start trading too you will be met with lots of disappointment and if you are not the patient type, you will give up so soon before you get to the stage of succeeding. Trading is not an easy thing to become successful at and that is why we have many people failing to make it but if you develop a patient attitude on time, you can succeed in everything and not just trading. Having patience with determination can make you become successful at training.

[DPHOR]

This shows that you have to learn more of technical analysis and fundamental analysis as well to know more about what would happened in the next candle, the result of you jumping into the market to make purchase wasn't as reason of patient but was as a reason of knowing how to study your candle and if you do, you wouldn't had just jumped into the market like that without proper analysis.
When you know how to study your candles very well it would be that easier for you to know when to enter market, when to exit, and when to take profits from trading.

[Gaza13]

You can never be a good and effective trader if you aren’t patient in the first place, that’s probably the reason why a lot have become a failure in trading. You are dealing with such an unpredictable market, so you have to be patient as much as possible and analyze the market well, otherwise you will never be a good and sufficient trader in the market if you are not in control of your emotions.

Patience teaches most of us to become passive traders in the market. It can only take discipline and consistency to tag along with the volatility coverage of the market. I'm not directly trading every time, but once or twice in a week. There's this basis that's learnable in the market and also provides crucial aides for everyone. It doesn't matter the number of positions you've trigger open trade, what matters is the profits these trades open are giving you. Common you can't compare someone that's holding bitcoin for longterm to be on the exact same standard with someone that's busy opening trades everyday with these altcoins, who's target a higher profits and the ones targeting small?

If there is a mindset like that equating the two methods between long and short term, it means that the person can be said to have minimal knowledge, unlike people who already understand how to view or interpret this. The most important thing in this case is trading is clearly patience and self-discipline, in my opinion that is a good example for you to trade only a few times a week, the rest you can use your free time to continue learning and focus more on analyzing the market, rather than getting caught up in uncontrolled trading. Trade when you see a good opportunity with this method you will get a chance to profit and be able to manage your money well.

[Bushdark]

You can never be a good and effective trader if you aren’t patient in the first place, that’s probably the reason why a lot have become a failure in trading. You are dealing with such an unpredictable market, so you have to be patient as much as possible and analyze the market well, otherwise you will never be a good and sufficient trader in the market if you are not in control of your emotions.

Patience teaches most of us to become passive traders in the market. It can only take discipline and consistency to tag along with the volatility coverage of the market. I'm not directly trading every time, but once or twice in a week. There's this basis that's learnable in the market and also provides crucial aides for everyone. It doesn't matter the number of positions you've trigger open trade, what matters is the profits these trades open are giving you. Common you can't compare someone that's holding bitcoin for longterm to be on the exact same standard with someone that's busy opening trades everyday with these altcoins, who's target a higher profits and the ones targeting small?

A patient trader would always make money from trading and the loses he would make will be very minimal compared to someone that does not have any patience at all. Trading need patience and that is the only way we could make money from trading.
Apart from being patient, a trader need to resist the spirit of greed because that is one of the ways many have become a victim of huge losses because they could not work on their greediness. Every trader need to have that atom of patience in them because that's the only way they could make money without having excessive loses.

[wmaurik]

A traders need to be very patient before he starts learning how to trade because without being patient, you can not learn trading properly. Learning has many stages of you failing and without being patient you can not keep going. As you start trading too you will be met with lots of disappointment and if you are not the patient type, you will give up so soon before you get to the stage of succeeding. Trading is not an easy thing to become successful at and that is why we have many people failing to make it but if you develop a patient attitude on time, you can succeed in everything and not just trading. Having patience with determination can make you become successful at training.

It is true that there are many stages that must be passed by someone when they want to become a successful trader and it is true as you said that patience is indeed very much needed because when trying to trade and still experiencing some failures, not everyone can survive with these conditions and even some who no longer trade because of too many failures experienced by the person.
Having a strong determination when learning trading is indeed very much needed because not everyone can survive after experiencing several failures when trying to trade and going back to correct the mistakes they have made until they become successful in trading.