Topic: Patience is the main key of success on trading platform. - page 12. (Read 1632 times)
Timing is the main key of success. If it was about patience alone, then you would likely hold out the peak and become a bagholder if it drops waiting to sell at any price. Understand the market and act when the time is right. Have a strategy. Do not bear the regret of selling to early or too late.
I believe everyone know about this sentence, "patience is the main key of success of trading platform". But I am realising that in practical. I have patience but not enough I think. Because you can see the trend of RVN, I was hold it and just sold almost in 20% profit. But I didn't wait even volume was increasing, I just missed my own logic. I had enough patience really. But who know RVN will touch 1400+ satoshi but I sold it 450 satoshi only. That's why I am realising patience is the main key if success on trading platform.
patience is an important thing will play an important role in everyday life of a trader so without patience nothing will be success for anyone in this field so if you don't take it seriously definitely it affect something in your trading
There are times when the impatient ones win.
Yes, due to needs you might see the right spot at when you will sell.
I did it once with AION I think. Sold mine for like 300 dollars at a price of $3 for 100 pieces.
Now it went down so suddenly. I am at panic at those times but I really want to hold those tokens since they have a great project.
But due to my lack of budget for my necessities I need to sell them.
Now I dont feel any regret but would want to buy them again.
Yes, due to needs you might see the right spot at when you will sell.
I did it once with AION I think. Sold mine for like 300 dollars at a price of $3 for 100 pieces.
Now it went down so suddenly. I am at panic at those times but I really want to hold those tokens since they have a great project.
But due to my lack of budget for my necessities I need to sell them.
Now I dont feel any regret but would want to buy them again.
Trading need to be patient to become successful and you gain more profit. But even you have patient to wait it means that you are become successful or key of success. Because it is only sone characteristics that need of the trader. Being patient it can help to achieve your goal and many people because they have patient so they will get best result and that's they earn millions dollars.
We cannot determine what is the main key of success in trading because every characteristics. All the charscteristics is really needed and if there is some is missing there is high chance for you to be failed in trading.
But being patient is most needed but it is not the main key of success they need some combination they help each other to be able for you to earn more money or success in trading.
Maybe the other think that patient is really the key to become successful in trading but they need to learn more for sure before they become successful in the trading.
We cannot determine what is the main key of success in trading because every characteristics. All the charscteristics is really needed and if there is some is missing there is high chance for you to be failed in trading.
But being patient is most needed but it is not the main key of success they need some combination they help each other to be able for you to earn more money or success in trading.
Maybe the other think that patient is really the key to become successful in trading but they need to learn more for sure before they become successful in the trading.
Patience has its limits, especially when it comes to trading. I rather follow the market and close positions with a small loss than to patiently keep waiting for something that might not even happen anymore.
I used to wait for improvement before, but stopped doing so because it's horrible. The most important thing is to not go against the market, regardless of how much you have at stake.
Imagine how many people were waiting for the market to move up around the $6000 or even $5000 mark. People's faith in mining made them lose out big time because they didn't expect the price to drop because of that.
It really seems that people need to understand how Bitcoin works and what difficulty adjustments are....
I used to wait for improvement before, but stopped doing so because it's horrible. The most important thing is to not go against the market, regardless of how much you have at stake.
Imagine how many people were waiting for the market to move up around the $6000 or even $5000 mark. People's faith in mining made them lose out big time because they didn't expect the price to drop because of that.
It really seems that people need to understand how Bitcoin works and what difficulty adjustments are....
Sometimes for me the profit I got already satisfies me even though the altcoin I am holding have the chance of going up and it is a missed opportunity for me. One thing that helps me though is I always set up a target selling price (as well as a cut loss price), that when I reached the target price I immediately sell any price movement that happens afterwards won't affect me as I achieved the ideal profit I want. Also keep in mind that sometimes patience can kill a trade, not being satisfied for the paper gain you have can sometimes hurt you especially if the price action was just a temporary pump and all your gains will turn into losses.
Patience alone is not enough. In the case you have shared here, you may say the opposite if you still holding it but the price dropping down instead of keeps raising. If the 20% is your target then I think it is OK already, it is better than nothing. Maybe next time you can sell half of your asset first while waiting for another pump.
When we do talk about patience.It is different depending on the situation patience on eagerly waiting for pump and patience for you to follow on your trading plan on certain profit or
patience on holding your coins for long term no matter how long it is. Patience can really be tested out by time and on situations you would face along the way.
patience on holding your coins for long term no matter how long it is. Patience can really be tested out by time and on situations you would face along the way.
Patience is good but not the only thing that matters because you can be patient while opportunities are staring at you there and then. So, a good strategy too will help you know whether your patience is out of range or due to take the ride on the market. Apart from buying and holding, for traders, money management is good because it helps you also to trade what you can avoid to lose.
I believe everyone know about this sentence, "patience is the main key of success of trading platform". But I am realising that in practical. I have patience but not enough I think. Because you can see the trend of RVN, I was hold it and just sold almost in 20% profit. But I didn't wait even volume was increasing, I just missed my own logic. I had enough patience really. But who know RVN will touch 1400+ satoshi but I sold it 450 satoshi only. That's why I am realising patience is the main key if success on trading platform.
Patience isn't about "waiting for the right time", that's just a sure way to maybe get astounding profits, but a sure way to eventually bust.
Don't buy what all those "pros" and "experts" are saying about being patient to know when to profit. These guys didn't see the parabolic ATH coming, and they sure as hell didn't see the crash coming.
Basic trading discipline. Know your entry and exit, and let the market decide those points for you. That's the only time patience is employed, to allow the market to reach your entries and exits. Sure, you always adjust especially if you like trailing stops when going in profit, and that's great, but it's still knowing where you'll exit.
Patience is not the main key of trading success. Is it an important characteristic of a trader? Definitely! But the three main components of a successful trader are technical analysis, risk management and controlling your emotions. You do need to be patient while waiting for the price to hit your "entry" area and your exit area as you planned it.
Right, patience isn't the only factor that determines the success or failure of a trader. There are still many other factors, such as you mentioned, that must be owned by a trader. The ability to follow the plan that has been made and not easily swayed by feelings is a complementary factor that should be present in a trader.
Patience is not the main key of trading success. Is it an important characteristic of a trader? Definitely! But the three main components of a successful trader are technical analysis, risk management and controlling your emotions. You do need to be patient while waiting for the price to hit your "entry" area and your exit area as you planned it.
Market reading skills + Balanced emotion = Pro trader
I believe everyone know about this sentence, "patience is the main key of success of trading platform". But I am realising that in practical. I have patience but not enough I think. Because you can see the trend of RVN, I was hold it and just sold almost in 20% profit. But I didn't wait even volume was increasing, I just missed my own logic. I had enough patience really. But who know RVN will touch 1400+ satoshi but I sold it 450 satoshi only. That's why I am realising patience is the main key if success on trading platform.
No one knows about that, and I think many people cannot believe too. If you don't sell it all amount in that price and split for 3 prices to sell, I think you can get a bigger profit than now. But it's no problem for you because you already get 20% profit and it's your profit. I am sure you can make another profit from the other coins. But in this lesson, you still need to learn about patience as you said. But you can be able to handle your greedy and take that 20 % of profit.
I believe everyone know about this sentence, "patience is the main key of success of trading platform". But I am realising that in practical. I have patience but not enough I think. Because you can see the trend of RVN, I was hold it and just sold almost in 20% profit. But I didn't wait even volume was increasing, I just missed my own logic. I had enough patience really. But who know RVN will touch 1400+ satoshi but I sold it 450 satoshi only. That's why I am realising patience is the main key if success on trading platform.
You dont really have the mistake yet you are still in profits no matter what.The feeling of regret do really able to be felt when you see the price had rose up evenmore than on the point you sell off your coins.These circumstances cant really be avoided on trading career thats why decisions would be crucial because too much patience
or even sell off to early as long you do make money or profit gains then you are still doing good.
Trading is primarily a psychological game about oneself. Learn to have calm, rationality and then things come by themselves.
You can do a perfect technical analysis, but if you don't have patience and you get anxious, everything becomes more difficult
You can do a perfect technical analysis, but if you don't have patience and you get anxious, everything becomes more difficult
That's why a entry and exit strategy is put into place.
I couldn't agree more. You have to have some strategy to follow. And if your strategy parameters tell you to exit, you exit. Otherwise, you will always have some regrets and missed opportunities will always linger in your mind. As a result, you will always be in a state of emotional turmoil. "Oh, I exited too soon." "Oh, I didn't exit on time." "Damn, I didn't enter where I should have."
That's why it is much better to have a definite strategy that you can quantify somehow. Either by using indicators, or in some other way. And follow it blindly. If you do, you can eliminate regrets entirely and be without emotional imbalances.
Yep, but you see we don't know when will a certain coin touches it's high and when to sell. Maybe you can have all the patience, but the decision to sell if the most difficult part as well. That's why a entry and exit strategy is put into place. Anyways, you made profits already, not a bad thing. 
I believe everyone know about this sentence, "patience is the main key of success of trading platform". But I am realising that in practical. I have patience but not enough I think. Because you can see the trend of RVN, I was hold it and just sold almost in 20% profit. But I didn't wait even volume was increasing, I just missed my own logic. I had enough patience really. But who know RVN will touch 1400+ satoshi but I sold it 450 satoshi only. That's why I am realising patience is the main key if success on trading platform.
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