Are you patient?

Started off impatient in trading, wanting quick results. Now, I’ve learned that patience is key. Taking my time to analyze and wait for the right opportunities has made a big difference in my trading style!

Patience in trading is paramount. Rushing decisions often leads to losses. Waiting for the right setup ensures better risk management and higher probabilities of success. Well I maybe not that patient, but I can certainly take my time when needed.

For me, focusing on one task at a time not only keeps me at ease but also cultivates patience.

If you visit different websites, you might find some ways to be patient but you can’t say that those ways will work for you. However, if you trade with low trading risk, you can keep patience.

This is a smart hands-off strategy. There’s not much need for patience in that method. All you have to do is not touch anything during the trade. I suppose that’s the test of patience–if you can NOT touch anything.

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Yes, patience is important in trading and it is good to know that this is your weak side.
Knowing your weak and strong sides can help you choose a better trading strategy that aligns with your personal characteristics. Patience is not something that can be learned quickly, so I recommend you focus on finding a trading strategy that will give you more dynamics and excitement. Maybe scalping is the best way to go. In scalping the trades last a couple of minutes, sometimes even seconds.
But you should train yourself not to enter whenever you want, only when your trade triggers the signal.

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Totally get what you’re saying about patience in trading. It’s a journey, for sure. :+1:

I can consider myself patient because I always wait till my trades hit stop loss or take profit defined by my trading plan, even in times of high volatility, market momentum in my favour (which is tempting because you want to hold the trade beyond take profit). It is also impossible for me to overtrade because my daily limit is 5 trades.

Then let us hope for you and with you that the day’s very best trade opportunity is never the 6th, 7th, 8th, 9th one … :woozy_face:

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I tried to, but I definitely not good at it :slightly_smiling_face:

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Sadly No. Panic trades are my specialty! it’s mostly 50-50 still on the profit side though! but I know I am walking on a dangerous path

As a trader who has always struggled with making impulsive decisions, what helped me the most was controlling my reactions to the market and continuously reminding myself that “I just can’t control the market!”. Plus, it is indeed very helpful if you know your entry and exit points before you trade. Setting clear goals will definitely help you maintain focus and patience. Set a maximum number of trades at the beginning, then set goals such as 5% loss or profit per day; by applying them, you will achieve patience. The last key point is to avoid revenge trades when you lose and greed trades when you win!

I completely agree with your approach to trading.

struggle with patience and self-control. I get easily annoyed and frustrated by small things. I want to learn how to be more calm and tolerant. I searched online and found some tips, such as practicing mindfulness, setting realistic goals, and accepting my emotions.

When I am required to be patient I am always patient.

I strive for patience in pursuit of better outcomes.

There is no point in trading without patience. After all, if we cannot wait and act strictly according to the rules and conditions of our trading strategy, then we will only have losses. Any entry into the market must be justified and meet all the criteria of the strategy. This is the only way to make money on Forex.

Couldn’t agree more.

Mind sharing if they’ve been helpful so far?