To be patient in trading

Community Trader Meetups
1

What is your definition of patient in forex trading ?

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Wait for the set-up. But to wait patiently for the set-up, you have to define what it looks like in advance. All the worst stress in trading should be in the strategy planning period, during which you don’t trade anyway.

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3

Key words i picked from your statement.

  • Set up
  • strategy planning period
    Thanks
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4

Also can be interpreted as “Never chase the loses.”

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5

From a postscript point of view, after set-up and trading plan execution, patience is giving your trading system a chance to prove itself.

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6

Don’t be in a rush to make money, trading should be like good fishing

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Especially important when learning, as this is why a lot of new traders don’t make it.

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yes, very important!!

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Strongly agree

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Absolutely true. Thanks

11

True. A battle have been fighting psychologically.

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I think all the steps towards becoming a forex trader requires a lot of patience. :sweat_smile:

Patience in trying to understand the patterns, the use of indicators etc. There’s so much going on and it takes a lot of patience to get to understand all of them. :sweat_smile:

Patience and taking your time in demo trading, developing your own strategy (or tweaking something you’ve seen from another trader). :slight_smile:

Like what they’ve said, there’s the patience in waiting for a good set-up. Waiting for it to meet the criteria of your strategy. Once you’ve entered a trade, there’s the patience in waiting for price to reach your TP. :blush: Even after that, there’s also the patience to analyze your trade and record it. Haha. :slight_smile:

Sounds like a lot of work, and it really is. :sweat_smile:

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13

I’ve been having a lot of issues with been patient enough to analyze a chart pattern.And moreover I haven’t get to understand any uses of those indicators as they are all a reflection of the price movement not the other way round

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Don’t worry with time you will get to understand them…just focus on one indicator after the other and be patient.

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No indicator is a crystal ball. Let us all know if you find one that is ! Or sell it to an institutional trading company :grinning:

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