The importance of patience in trading

[Asiska02]

Also, waiting for your analysed market to come to play before entering the market is also very important, most persons in trading just enter the market because, they see a downward trend without carefully analyzing the real market structure and waiting patiently for it

Just entering the market because the direction of the market is on an uptrend is pure gambling and no etiquette of trading can ever teach you that. Trading requires you to be patient enough to wait for your trades to reach your point of interest before executing it. As an upcoming or newbie trader trying to grow their small capital, going to meet the market to trade before reaching your point of interest is highly risky and should be avoided by all means. It will make you to make decisions that were never analysed and make decisions that will affect your overall capital even before reaching your point of interest. To be a successful trader, you need to be patient and always follow a strategy you’ve learnt overtime and gives you more wins than losses.

[The Cryptovator]

I know patience is the key to success in crypto trading, but still learning. I don't know why I still panic, though it's been a long time since I was in the crypto market. Still learning how I could be calm during a bear market and patiently wait for the market and make profits. There are more related things besides patience, like analysing and taking real-time decisions.

Of course we need enough capital to make money from the crypto trading. But if you are experienced and have a good strategy, then you can slowly increase your portfolio. For that also you need patience; we can't ignore it anyway when it's related to crypto trading. We often see panic sellers become losers at the end of the day.

[taufik123]

I know patience is the key to success in crypto trading, but still learning. I don't know why I still panic, though it's been a long time since I was in the crypto market. Still learning how I could be calm during a bear market and patiently wait for the market and make profits. There are more related things besides patience, like analysing and taking real-time decisions.
-snip-

Everyone has their own level of panic, but it's usually caused by choosing the wrong coin to invest, so you don't feel sure if the coin will go up again or not.
If you hold bitcoin or a recommended altcoin and have bought it at a low price, of course some of that panic will disappear, even if not completely.

I've also been in the crypto world for quite some time and know what it's like to suddenly have a portfolio -90%
but in the end the portfolio returns to normal and even goes up a few percent because I keep buying gradually when I believe and believe the coin I bought will go up eventually.

Technically-related matters about analyzing and making decisions in real-time are part of trading science that needs to be learned and practiced properly.

[hd49728]

Everyone has their own level of panic, but it's usually caused by choosing the wrong coin to invest, so you don't feel sure if the coin will go up again or not.
If you hold bitcoin or a recommended altcoin and have bought it at a low price, of course some of that panic will disappear, even if not completely.

Technically-related matters about analyzing and making decisions in real-time are part of trading science that needs to be learned and practiced properly.

Technical indicators can be manipulated by market makers and news are released by market makers too so they can have great impacts on the market through psychological pitfalls and over pessimistic and panic reactions of majority participants in the market.

Psychological pitfalls of a market cycle. It has more description for each phase in a market cycle that can be more helpful for newbies who are ready to learn about they market psychological cycle.

[SOKO-DEKE]

Why most people loss to the market is because they enter the market anyhow without carefully analyzing the market from the different time frame.

The reason why some people always enter the market anyhow is that they lack proper knowledge to even do the analysis. They think and believe the market is fine anytime they feel free to enter, not knowing that, as a trader, you don't need to enter the market randomly. One must first do proper analysis and identify a better pattern in the market.The funny thing is that some people always enter when the coin pumps, thinking that’s the way to trade, not realizing that proper analysis should be done beforehand.another issue is that some people trade coins that don’t have a record. Trading a coin or token without records is essentially gambling with one’s funds. On the other hand, when someone trades coins that have a record, they are better able to perform meaningful analysis.

Patience , does not only imply entering the market alone.  A good capital is also needed to trade the market to be successful, but patience is also needed to transform that your small capital to a big one, by gradually making profits  to a huge sum.

Yes, patience is very important in trading. However, if someone is not careful, patience can still cause a trader to lose in trading. Just imagine someone enters a trade and it has made a good amount of profit, but instead of exiting, they keep waiting simply because they are looking for more profits. In trading, even if someone wants to be patient, they should have a good reason for it, backed by proper analysis.As you said, traders also need sufficient capital if they want to make good profits from trading. Generally, the more capital a trader has, the more likely they are to make profits. However, this also increases the risks involved.

[Hyphen(-)]

Just like they say, the patient dog eats the fattest bone, some will say the patient dog does not eat the fattest bone again oh! But, you cannot over emphasis the importance  of patience, in trading as most people loss to the market because for  lack of patience.

Patience is very important in every aspect of life not just in trading, but when it comes to trading, it is very essential even though it is complicated especially if you don’t have good trading knowledge because you can place a trade and decide to be patience in order to get some gain, you might just be wasting your time because you might be loosing money at that time.

Also, waiting for your analysed market to come to play before entering the market is also very important, most persons in trading just enter the market because, they see a downward trend without carefully analyzing the real market structure and waiting patiently for it

Patience , does not only imply entering the market alone.  A good capital is also needed to trade the market to be successful, but patience is also needed to transform that your small capital to a big one, by gradually making profits  to a huge sum.

Hence, in the trading space patient cannot be over emphasis if we must be a good trader.

Aside for patience, the most important thing you need about trading is knowledge and understanding of market movement, if you have good knowledge and understanding of trading, you will hardly make a mistake if comparing patience to waste of time, you will always make the right decision that will favor you.
Nevertheless, risk management is also important, and you also need to learn how to control your emotions.

[Awaklara]

Aside for patience, the most important thing you need about trading is knowledge and understanding of market movement, if you have good knowledge and understanding of trading, you will hardly make a mistake if comparing patience to waste of time, you will always make the right decision that will favor you.
Nevertheless, risk management is also important, and you also need to learn how to control your emotions.

Which means becoming a trader is not as easy and simple as one might think. Controlling emotions and patience will be related to one's character, although it can also be trained gradually. Risk management, knowledge, and market understanding can also be learned. There is a lot to learn and practice to become a trader. The level of success will depend on the trader's ability to adapt to what is experienced. Trading will definitely take a lot of time to learn. But remember, don't force yourself to trade before we are really ready.

[DaNNy001]

Trading isn't easy and the mistake most people make is that they try to make it a quick way to get rich.. you can't skip the process patience is key, in your first year of trading don't force the market to give you what you want, you still have to develop your strategies and work on your psychology because these are the key things you need if you want to be a successful trader... People who that work on making only 10 percent of their capital in a week or two are not scared, they are patient and disciplined.

[rachael9385]

Just like they say, the patient dog eats the fattest bone, some will say the patient dog does not eat the fattest bone again oh! But, you cannot over emphasis the importance  of patience, in trading as most people loss to the market because for  lack of patience.

Why most people loss to the market is because they enter the market anyhow without carefully analyzing the market from the different time frame.

Also, waiting for your analysed market to come to play before entering the market is also very important, most persons in trading just enter the market because, they see a downward trend without carefully analyzing the real market structure and waiting patiently for it

Patience , does not only imply entering the market alone.  A good capital is also needed to trade the market to be successful, but patience is also needed to transform that your small capital to a big one, by gradually making profits  to a huge sum.

Hence, in the trading space patient cannot be over emphasis if we must be a good trader.

It's said that patience is a virtue, a lot of people don't really understand how the market works, some still even thinks that it's some kind of ponzi scheme that you can just make quick money from. Trading is a financial institution of discipline, patience and consistency. It's an Institution because you must take out time to learn. This might take years of study or months it all depends on the individual. Don't be in a worry to make money from the market.

[Questat]

I know patience is the key to success in crypto trading, but still learning. I don't know why I still panic, though it's been a long time since I was in the crypto market. Still learning how I could be calm during a bear market and patiently wait for the market and make profits. There are more related things besides patience, like analysing and taking real-time decisions.

Of course we need enough capital to make money from the crypto trading. But if you are experienced and have a good strategy, then you can slowly increase your portfolio. For that also you need patience; we can't ignore it anyway when it's related to crypto trading. We often see panic sellers become losers at the end of the day.

Patience will always play a vital role in trading. Those who can't be patient then should never decide to enter trading, it will only make their life and finances miserable, believe me.

And just like you've said, trading is not just all about patience, but knowledge, skills and experience also greatly matter. If you haven't gained them, patience alone will not work, so you have to learn to acquire them whether you like it or not.

[GreatArkansas]

(....)
Patience , does not only imply entering the market alone.  A good capital is also needed to trade the market to be successful, but patience is also needed to transform that your small capital to a big one, by gradually making profits  to a huge sum.

I don't agree about having less capital. Even how much your capital is, but you don't have patience - it's nothing.
That's why it's very advisable for those people who are just starting to trade, try to start small capital first.

And speaking of patience. Add also that not all of the time you can trade, sometimes you need to cooldown the market of wait for perfect opportunity.

[hd49728]

I don't agree about having less capital. Even how much your capital is, but you don't have patience - it's nothing.
That's why it's very advisable for those people who are just starting to trade, try to start small capital first.

In trading, if you lose your capital, you can not ask the market returning it too you. It's not free claim so your capital loss is forever loss, and you must avoid capital loss as most as you can.

Starting your trading career with small capital first is important, because risk of loss in your first trading attempts is big and by reserving your capital, you will have many chances to trade again. With later trading times, and with lessons learned by your trading and trading losses, you perhaps can do it better.

If you do oppositely, using all capital for trading when you only start in trading, you might lose all capital in very first trading positions and your trading exploration can end very quickly.

And speaking of patience. Add also that not all of the time you can trade, sometimes you need to cooldown the market of wait for perfect opportunity.

Be patiently to wait for good opportunities and entries, but be determinant for quickly cut loss and exit the market. It's very important discipline for your trading practice that can help defending your trading capital and increase chance of getting profit.

[cryptoaddictchie]

Hence, in the trading space patient cannot be over emphasis if we must be a good trader.

Solid trader or guessing trader must have patience. Its one attitude we need if wanna success. Avoid being greedy and loss yourself to a trade. Many users loss patience when they saw their portfolio gone red and the tendency is to sell at a loss. This means they dont have patience and render to their emotions or fear that rises on themselves. Its really hard to control our patience especially if we risk a huge money.

[taufik123]

-snip-
Psychological pitfalls of a market cycle. It has more description for each phase in a market cycle that can be more helpful for newbies who are ready to learn about they market psychological cycle.

Thanks for the book reference, it's good enough to learn how psychology really works and what the impact it will have.

This psychological cycle is experienced by all traders and does not look at them as professionals or beginners,
but if they can control their psychology, then they will know how the cycle of market psychology happens.

Not only about technical, fundamental and risk management, but psychological management also needs to be studied,
because the final decision will depend on the mental and psychological state of the person.

[Fredomago]

Hence, in the trading space patient cannot be over emphasis if we must be a good trader.

Solid trader or guessing trader must have patience. Its one attitude we need if wanna success. Avoid being greedy and loss yourself to a trade. Many users loss patience when they saw their portfolio gone red and the tendency is to sell at a loss. This means they dont have patience and render to their emotions or fear that rises on themselves. Its really hard to control our patience especially if we risk a huge money.

Fear affects a trader's decision making, most of the time patience is being neglected when fear arise and instead of waiting trader decide to cut their losses and stop their trade, it's very important that you have the combination of confidence and patience, what I mean, if you choice to invest and you already place your position after doing your research you should take time to keep your faith with what you anticipate as there's always fluctuation that may happen and it should also be anticipated and also be part of your trade to extend your patience to wait.

[jcojci]

Patience can hold you from making a rush decision related to the current market situation. If you can be patient, you will see what happen to the market and you will analyze for more before deciding. Patience will give you more time to know when to buy or sell and not just doing that in a fast.

Patience need to practice so you can hodl your back for a while. If the price soar to the high price and you don't make a rush decision, you will see if the price will still increase or it will dump.

Although that is just prediction, you will not tempting to follow the market movement because you will check all things before decide.

Hence, we need practicing patience so we can be a wise trader.

[Olatundespo]

Trading isn't easy and the mistake most people make is that they try to make it a quick way to get rich.. you can't skip the process patience is key, in your first year of trading don't force the market to give you what you want, you still have to develop your strategies and work on your psychology because these are the key things you need if you want to be a successful trader... People who that work on making only 10 percent of their capital in a week or two are not scared, they are patient and disciplined.

Trading is not easy but it is not that complicated either. Most new traders think and they do not know how to use their capital properly or are afraid of losing it. Planning to get rich quick is the biggest mistake for new traders. As you said patience is the key I also agree with you that patience is the most important and biggest asset for an investor. The plan I had when I started trading should be explained. I was initially greedy and tried to get high profits in a short time the currency I was buying was immediately going down in value and I was disappointed. On the advice of experienced traders, I developed the habit of saving small amounts and had great results. I save using the Dollar Cost Averaging (DCA) method and I am still a successful trader in both short and long term strategies. To be successful in trading you need to be disciplined and have control over yourself.

[justdimin]

Everyone has their own level of panic, but it's usually caused by choosing the wrong coin to invest, so you don't feel sure if the coin will go up again or not.
If you hold bitcoin or a recommended altcoin and have bought it at a low price, of course some of that panic will disappear, even if not completely.

I've also been in the crypto world for quite some time and know what it's like to suddenly have a portfolio -90%
but in the end the portfolio returns to normal and even goes up a few percent because I keep buying gradually when I believe and believe the coin I bought will go up eventually.

Technically-related matters about analyzing and making decisions in real-time are part of trading science that needs to be learned and practiced properly.

The feeling of seeing 90% drop is terrible, not from where I bought at least, that is all I desire. I mean it's clear that we are going to get a lot better. If we can do this, then we are going to see how things could change and how e could make some money with it. If we can't do that then we can't get a better price.

So we desire, whenever we buy, at whatever price, it doesn't go down 90%. That is why you should always buy as cheap as possible and as trusted coin as possible. Like if you buy bitcoin right now, it's almost 100k, that means we are not going to get 10k, I mean I am sure that it is not going to be 10k, that means we are not going to get 10k, so if you trust your coin this much then you are not going to feel troubled when it starts to go down a bit.

[Uruhara]

Just like they say, the patient dog eats the fattest bone, some will say the patient dog does not eat the fattest bone again oh! But, you cannot over emphasis the importance  of patience, in trading as most people loss to the market because for  lack of patience.

Why most people loss to the market is because they enter the market anyhow without carefully analyzing the market from the different time frame.

Also, waiting for your analysed market to come to play before entering the market is also very important, most persons in trading just enter the market because, they see a downward trend without carefully analyzing the real market structure and waiting patiently for it

Patience , does not only imply entering the market alone.  A good capital is also needed to trade the market to be successful, but patience is also needed to transform that your small capital to a big one, by gradually making profits  to a huge sum.

Hence, in the trading space patient cannot be over emphasis if we must be a good trader.

Patience in trading is one of the most important assets a trader must have. Because actually trading in all stages requires patience.

Before trading, we have to analyze the market both from a technical and fundamental perspective. And we have to be really patient before finding a suitable analysis or a suitable trading pair that we can enter. Or sometimes we have to be patient enough to wait for confirmation of a reversal or confirmation of a chart pattern forming before deciding to enter.

Impatient traders are those who every time they see the market they will immediately enter without waiting for confirmation of the direction of the market trend. And those who don't have patience tend to be careless people. And in my opinion, the most difficult condition for us to remain patient is when we wait for our entry to be filled and the market seems to move away from our entry. Sometimes we are not patient enough and try to chase the market which ultimately ends in losses. In fact, we must always be confident in the analysis we make, namely that we have analyzed the entry points well and the time will definitely be filled as long as we are patient.

[taufik123]

-snip-
So we desire, whenever we buy, at whatever price, it doesn't go down 90%. That is why you should always buy as cheap as possible and as trusted coin as possible. Like if you buy bitcoin right now, it's almost 100k, that means we are not going to get 10k, I mean I am sure that it is not going to be 10k, that means we are not going to get 10k, so if you trust your coin this much then you are not going to feel troubled when it starts to go down a bit.

The best option is indeed buying the recommended coin for the long term which is Bitcoin and some of the top Altcoins such as ETH which are now breaking through the price of $2000++ again are good choices as well.
Of course, ETH will not drop to $200 again in the future and still hold on to the price of $1000++ at the low price of a few weeks ago.

The -90% drop investment I experienced happened on an altcoin that looked good at the beginning but then became a junk altcoin due to my carelessness of not selling quickly.

Like a pretty sad example when LUNA was a pretty good altcoin in the top 10 of CMC but then dumped at a very bad price and even became garbage.