Patience Is A Trader's Virtue | Bitcointalksearch.org

macchiato

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Indeed. This is a very hard thing to possess since we are all excited of earning. Who isn't? Tongue

However, without patience, a trader won't be successful. There will be greater loss instead of gain if traders allow their emotions take over. And should I not mention panic buying/selling? Come on people, dumps and pumps are digital currency's nature. Being hot-headed and impatient won't control coin's stability. Just run it smoothly and be calm. Cool

Smarty14392

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Quote from: AlienSeeker on December 16, 2017, 11:13:58 AM

This is true and I agree. Trading really needs patience, a really really big patience. Every trader should be patient in waiting and be knowledgeable on when to hold and when to sell their coins or tokens for you to earn or profit a lot.

You only need to see when the time is good for you. Either this will benefit you or it can produce harm to you. That will be accompanied by patience. Every time you won’t get good results. There is a time coming in your way when you have to decide so immediately that where to go. Patience is the key to success and you definitely need to keep it with you for better future.

crypto4lambo

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It is really on point. And this is where I struggle the most. Sometimes I am caught between to sell or to hold and many times I regret what I chose. Emotions when included in trading destroys everything. Even if you plan your trade but when the time it overtakes you you will regret what you decide to. Everytime I experience this, I just take a rest and think clearly. I look again at my plan and execute what is in it. Patience is both applicable for day trading and long term investing. Both also requires discipline which is very crucial to maintain. Patience can be easier to be said than done nut the moment you master it, you can ease your mind whenever you want to made a decision.

Shanmatthew

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Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Yes,you're right that patients are needed in trading.because sometimes the value of btc is non stable and you're mind so many thinking if it is the right time or not to buy.but sometimes we can't hold it our patient what ever we'l do to hold it that cause of bankrupt

Casdinyard

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Quote from: bitcoinrays on December 18, 2017, 08:22:25 AM

Quote from: qiwoman2 on December 16, 2017, 03:49:20 AM

I agree, you need patience and stealth like qualities in order to find those hidden gems and opportunities. I try to do a little trading now and then but mainly do the long term trades on altcoins I like to hold for a long time. I had some really good coins and sold them off way too early, like I had 100 dash and sold them at 12 dollars. One thousand bitcoin plus and sold for 12 dollars at the time. I million NEM that would have made me a millionaire. If I were as wise as I am now, I would have held those beauties long term and now be settled for life. Patience and knowing what to hold and when to hold is key.

Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader. Dennis Hartman, a successful trader and publisher of The Hartman Letter has this to say about the value of patience: "Proper patience is needed throughout the lifecycle of the trade, at entry, while holding and exit.

I agree. Patience is the answer from all of this panic moments and without this we will just end up a crying child later on. Everybody should know when we should hold and we our patience can a test to that. And when we used to this then there we will be all good.

aervin11

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Yes it is. Especially if you need fiat for everyday living. Being rich or having a lot of money without relying on crypto would really help. That would help you strech your holding time, would maximize you profit coz as all we know, HODLERS always win and lastly this business would just be a game for you, for you didnt need money anyways. Have another source of income would be healthy.

futile-resistance

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Quote from: rysea2 on December 16, 2017, 11:23:12 AM

Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

yes, I really agree with you, even though everyone knows that patience is very important in trading but it is very difficult to do because some things like sudden panic arise when market prices start to throw away.

When the prices start to throw away, panic is obvious even on the faces of those who know the market to its depth, the best practices of times like these are to keep your self busy in the trade. At least this will make you busy and after sometimes you will become more and more familiar with the fluctuations in the market and also how to handle this kind of the situations. Patience has to be the ultimate virtue but practice will make it happen.

bitcoinrays

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Quote from: qiwoman2 on December 16, 2017, 03:49:20 AM

I agree, you need patience and stealth like qualities in order to find those hidden gems and opportunities. I try to do a little trading now and then but mainly do the long term trades on altcoins I like to hold for a long time. I had some really good coins and sold them off way too early, like I had 100 dash and sold them at 12 dollars. One thousand bitcoin plus and sold for 12 dollars at the time. I million NEM that would have made me a millionaire. If I were as wise as I am now, I would have held those beauties long term and now be settled for life. Patience and knowing what to hold and when to hold is key.

Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader. Dennis Hartman, a successful trader and publisher of The Hartman Letter has this to say about the value of patience: "Proper patience is needed throughout the lifecycle of the trade, at entry, while holding and exit.

rysea2

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Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

yes, I really agree with you, even though everyone knows that patience is very important in trading but it is very difficult to do because some things like sudden panic arise when market prices start to throw away.

dark08

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Quote from: rhomzkie26 on December 16, 2017, 10:16:34 AM

Yes I do agreed that being patience as a traders is the main factor for us to become successful in trading, and have enough knowledge in bitcoin and altcoins also in reading the graph, and everything in doing trade in the platform.

Being patient is one of the main factor to became a successful traders if you dont have patient in your self Im sure your capital will loss and you cannot earn a huge profit because having patient plus a knowledge to crypto world is equal to profit and take note if you doing trading dont be greedy if you see you have a profit then go sell and rebuy again when price is down.

Stedsm

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Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Patience is a key factor that needs to be understood and we need to deposit it in our mind before we deposit any money on any exchanges or anything where we are willing to invest. Let me tell you my own scenario and you decide whether I am a patient Bitcoiner or not.
I used to get more than 0.1 BTC a month at times when the value was less than $500, but I always sold them off to support my brother in maintaining the expenses we used to incur at home. There were times we saved, there were times we spent, but Bitcoin always remained there to be the most important part of our life. After that, when the value started increasing, I started to save and only sell when emergencies arrived. Still, I have few coins left and now I know that holding gives bigger rewards than selling off in panic. I believe that sometimes, it's not us but circumstances that make us sell them.

AlienSeeker

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This is true and I agree. Trading really needs patience, a really really big patience. Every trader should be patient in waiting and be knowledgeable on when to hold and when to sell their coins or tokens for you to earn or profit a lot.

energycom

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Quote from: qiwoman2 on December 16, 2017, 03:49:20 AM

I agree, you need patience and stealth like qualities in order to find those hidden gems and opportunities. I try to do a little trading now and then but mainly do the long term trades on altcoins I like to hold for a long time. I had some really good coins and sold them off way too early, like I had 100 dash and sold them at 12 dollars. One thousand bitcoin plus and sold for 12 dollars at the time. I million NEM that would have made me a millionaire. If I were as wise as I am now, I would have held those beauties long term and now be settled for life. Patience and knowing what to hold and when to hold is key.

We all lived similar things in the past. We sold our litecoins for $5 each. We sold our IOTA coins for $0.3 each. What a pity for us. We should have held them in long term.

malikusama

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Indeed the most difficult but also the most important to be a successful trader. Many fresh traders loss their entire capital just because they can't keep calm while trading. Patience is required in all type of business and this business of cryptos need much more patience than others.

rhomzkie26

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Yes I do agreed that being patience as a traders is the main factor for us to become successful in trading, and have enough knowledge in bitcoin and altcoins also in reading the graph, and everything in doing trade in the platform.

Kemarit

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Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Oh dear, you don't have to preach it. Everyone knows that already, but yes its the most difficult thing to do, but I don't consider them skills though, I think its more of a mindset or feelings rather than talent or skillsets. From my personal perspective its one of the most difficult to control, like greed. It takes mental toughness to overcome it.

Quote from: ReLieD on December 16, 2017, 08:26:20 AM

Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Like patience, it sounds like a very easy thing. Like if you see the definition of the word , it just means wait and actually you don't have to do anything when your waiting. This sounds easy but everyone has an anxiety which doesn't allow them to be patient. Actually patience needs alot of skill and self control. People might easily say that they are patient but when they will have to actually test it they will probably fail .

Yes, its not easy as it sounds. Most people are very impatient and if they go trading, they will be having a hard time to control it because they are used to be like that. And as a result they lost and just quit trading for good. I don't know if it can be self taught though. But I guess through practice and experience, maybe there is a chance that you can learn to control it if you have been trading for so long already.

kaya11

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Quote from: Low Sigma on December 16, 2017, 06:54:22 AM

Quote from: DGulari on December 16, 2017, 06:43:38 AM

Patience is not and can't be called as "skill".it's also can't be learned. It's same as greed which all people owned since start.

If what you are saying is true, then why I became more patient with my trading along the years?

It's not greed, you are only trying your best to hold those tokens of yours, and I don't know for what reason. Other people on this are not just here to earn profits but to also contribute to the cryptocommunity and make it known to the whole world. You've got your patience and no one is gonna steal it from you, relax you are doing fine and continue trading.

Intersan

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Quote from: dothebeats on December 16, 2017, 07:05:59 AM

I could attest to this. I've lost several hundred dollars due to impatience and if only I waited a couple more hours, those bad trades could have given me some hefty profits. I've learned to have some patience the hard way, and that is by losing money in the process. Also, the crypto market is a fast-paced trading ground, but patience still holds its place and has its own rewards for traders that know this little virtue.

I have also lost good profit value because of impatience and I regret it and took it really hard since it was my first time. But after a week, I realized that I have to recover since it will probably not my last. Trading is not easy because other than patience, it will also require time and effort from the trader because if you will not give those two, you won't be able to do a good trading. I may have avoid selling at low price because of my first experience but of course, another possibility exists, like selling and then the price go up big time. This is just a good example of how volatile bitcoin and cryptos are that their price changes easily so the smarter way of earning is just to never sell below half of the price of that coin and make sure that you will be selling on the price that can be considered closed enough to the highest price.

Be careful in trading as there are many people trying to steal your coins. Be cautious and most importantly enjoy trading as it will help you a lot to earn profit.

mobnepal

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I think I am also one example of impatience trader as I have lost chance of making 1000s of dollar from just few coins which I was holding for months.

OMG
MCO
ETH
LTC
XRP

are few coins which I have kept with me for months but cashed them out for small profit of few hundred. Angry

I am still learning skill to be patience which I also think is key for success in trading.

vv181

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Quote from: matchi2011 on December 16, 2017, 08:38:29 AM

Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

It's developed don't worry. Most traders don't have patience at the beginning as well so don't worry because through experience, it will come to you. Trading takes time and a lot of emotional control that's why patience is essential and the more you trade, the better you'll get a grip of your emotions

Agree, That why everybody recommends a newbie trader to start with a low amount or even only doing a demo trading. The skill and the experience have to be build by practicing not just learning from theory.

hritevanz

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Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

I won't blame you for saying that patience is one of the most difficult skills to learn as an investor and trader because obviously, we all want to earn lots of money in just a week. As a trader, the reason why most of them lose their money is because of the fact that it hard to wait to sell and buy at the price that we are expecting and when there's a dump for those who want to sell their coins, they panic that the bitcoin will crashed someday which results to lose half of their money by selling their coins at lowest price.

matchi2011

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Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

It's developed don't worry. Most traders don't have patience at the beginning as well so don't worry because through experience, it will come to you. Trading takes time and a lot of emotional control that's why patience is essential and the more you trade, the better you'll get a grip of your emotions

semobo

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Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

As you said patience is very important for the traders and investors many people failed in this case, people try to sell their savings even when there is a little price drop on bitcoin or other coins.They will worry about what they did later.
So people have to be patient when the hard time comes then they can earn more profits later,just need to control their emotions.

ReLieD

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Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Like patience, it sounds like a very easy thing. Like if you see the definition of the word , it just means wait and actually you don't have to do anything when your waiting. This sounds easy but everyone has an anxiety which doesn't allow them to be patient. Actually patience needs alot of skill and self control. People might easily say that they are patient but when they will have to actually test it they will probably fail .

DaMut

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indeed Patience is an important thing for trader,but other than that we still have a lot thing that we need to learn and have to as a trader.
as a trader we need to think about everything logically and be smart,
most people lose their money because they believe and keep holding for some shit out there.
even though you have a ton of patiences in your mind but you can not think smart and rationally,
in the end you will lose it because you will only hear about what people says instead of doing your own research.
other than think about it logically and be a smart,
you have to be a cool headed man,solve every problem that you face with your knowledge.
never let your emotion to take control of your body and your action.

Idrisu

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Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

"patience is a trader's virtue" But did you know about 95% of traders are guilty of this? We like patience and that is the reason why we are at were we are today. For example there are people who sell their bitcoin in February this year when bitcoin fell from $1,300 there about to $765 and now bitcoin is above $17,800. As a traders who must have sold loss then, if you are patience you could have become a millionaire in your local currency especially if you are from a third world country if you sell today. For those who might be have fund to invest, should buy now as today still present the best time to buying cheap compare to were bitcoin is going to be in 5 years to come and all you just need is to be patience with the market and see how your coins add-up.

dothebeats

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I could attest to this. I've lost several hundred dollars due to impatience and if only I waited a couple more hours, those bad trades could have given me some hefty profits. I've learned to have some patience the hard way, and that is by losing money in the process. Also, the crypto market is a fast-paced trading ground, but patience still holds its place and has its own rewards for traders that know this little virtue.

pushkarmore

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Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Yes, i agree with you that Patience is a trader's virtue and it is one of the skills that takes time and effort to learn and apply in our trading lifetime. Especially if you are a investor or trader, then it will take almost 20 to 30 investment decisions to master the patience skills in your mindset. If trading is your full time career then it is must to develop the patience skill in you.

Low Sigma

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Quote from: DGulari on December 16, 2017, 06:43:38 AM

Patience is not and can't be called as "skill".it's also can't be learned. It's same as greed which all people owned since start.

If what you are saying is true, then why I became more patient with my trading along the years?

Fantastic33

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Yup exactly! A trader needs to be patient. Patient on tracking bitcoin's price if its going up or down. Its like being up to date from time to time... being patient when to sell or hold bitcoin. Yup truly one of the skill needed by a trader. Without this, your bitcoin will crash.

DGulari

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Patience is not and can't be called as "skill".it's also can't be learned. It's same as greed which all people owned since start.

Low Sigma

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Quote from: davis196 on December 16, 2017, 06:35:26 AM

Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Many people don`t understand,but trading is like any other nine-to-five job.It requires persistency and patience.It`s better to make 1000 small trades and grow your profits slowly,instead of waiting for the big hit.
That`s why i`m not very active at cryptocurrency or forex trading.It gets boring and kinda frustrating for me with all those charts and analysis.Can you share your experience with us, OP?

I would say that trading is not like any other nine-to-five job. Instead it is more like 12 hours/day research or even more.
Yes it is better to make 1000 small trades than wait for the big hit, but only if you can cover the trades friction: spread, slippage and commission.

davis196

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Quote from: Aditya1011 on December 16, 2017, 03:20:36 AM

Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

Many people don`t understand,but trading is like any other nine-to-five job.It requires persistency and patience.It`s better to make 1000 small trades and grow your profits slowly,instead of waiting for the big hit.
That`s why i`m not very active at cryptocurrency or forex trading.It gets boring and kinda frustrating for me with all those charts and analysis.Can you share your experience with us, OP?

qiwoman2

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I agree, you need patience and stealth like qualities in order to find those hidden gems and opportunities. I try to do a little trading now and then but mainly do the long term trades on altcoins I like to hold for a long time. I had some really good coins and sold them off way too early, like I had 100 dash and sold them at 12 dollars. One thousand bitcoin plus and sold for 12 dollars at the time. I million NEM that would have made me a millionaire. If I were as wise as I am now, I would have held those beauties long term and now be settled for life. Patience and knowing what to hold and when to hold is key.

Aditya1011

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Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

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