What does patience mean in trading? - page 5.

Cookdata

hero member

Activity: 1064

Merit: 903

Not Your Keys, Not Your Bitcoin

Quote from: laubeaud on July 09, 2024, 06:41:47 AM

As a trader, we need patience while trading.

In trading, patience is required at four levels:

A) You need patience to learn how the market moves and how to trade it—"Learn" first before you "Earn."

Most of this theory are even hard to remember when you engage in real trading because you don't even have enough space on your head to put this on and on but I agree with the point mentioned patient, if you don't have it in trading, you will definitely lose money more than you can ever imagine.

Quote

B) You need to have patience and do a thorough analysis before taking a trade. Do not rush into trades.

C) You need to be patient and wait for your setup or the right opportunity. Be a sniper, not a machine gun, opening trades at each market movement.

Rushing to set up a trade without understanding the direction of the market or have the chart is pure gambling and gambling is assumption which can either lead you to success or failure but most of the time if the market is unpredictable, you will definitely lose money.

Quote

D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.

Do you have something to add?

This your last part is subjective to market bullish. It's not all the time you get the opportunity to hit your targets, this is why it's good to have trailing profits in a uncertain market because even when you don't know what's next on the market, you will always have profits to take but if you insist that you must take profits at your target, you might not get the chance again especially in a smart market when people didn't fomo.

synchronym

full member

Activity: 462

Merit: 150

When we trade, before we trade, we must first gain good knowledge about the trade, then we have to trade. Patience is one of the most important factors in trading, many times it is seen that many big traders also lose patience so patience is very important, patience should not be lost. If we can trade with patience and long-term planning, we can certainly achieve a lot of success through this trade, which will make us very interested in trading more in the future. There are many traders who lose patience in the slightest and lose more than they gain due to losing patience in the slightest. I would say to the newbies that they must acquire enough knowledge about trading and trade patiently with a long-term plan so that they are more likely to gain than lose.

dzungmobile

sr. member

Activity: 840

Merit: 422

I stand with Ukraine!

Quote from: mirakal on July 10, 2024, 09:57:39 AM

Patience is the key to success... unfortunately, not all carry it out, they get bored after a few days. And why is this happening? Because this is not simply to be acquired, most of us want instant so no wonder why most traders fail and lose their money like a bubble.

Honestly, it is easy to understand the importance of being patient but what will happen is a big opposite. All we can hear is "I'll be patient", and "I could wait the right time" but after a few minutes, it is all done, we sell them due to panic.

Therefore, if we think can't handle the pressure of trading, better leave and not trade because it is hopeless to aim for success if we don't see how important is this.

They can try to be patient when they actually need to exit the market and unfortunately in contrast they try to exit the market panic when they should hold tightly.

They will be tested and challenged by the volatile market before they have enough experience and understand about the market enough to have diamond hands for holding tightly. They will be able to choose a good cryptocurrency for holding, it's Bitcoin. It helps them to be less fearful with holding that is impossible with altcoins.

If they can not hold bitcoin, they won't be able to hold altcoins but let's say it rightly, I emphasize that I don't recommend to hold altcoins.

Rockstarguy

hero member

Activity: 1050

Merit: 592

God is great

Trading without patience will never yield a good result because everything about trading is patience. In trading we learn to make things right just to avoid some loses and learning in trading can only be possible by patience, if their is lack of patience it is impossible for one to have the patience to learn. Discipline is another factor that can't be taking for granted , patience is needed to be discipline. In making profit from trading one needs to be very patience. Understanding the trading market is all about patience and If one is not having patience it will be difficult for one to stick to one strategy because one can think they need to work with all strategy to make profit.

mirakal

legendary

Activity: 3108

Merit: 1290

Leading Crypto Sports Betting & Casino Platform

Quote from: laubeaud on July 09, 2024, 06:41:47 AM

Do you have something to add?

Patience is the key to success... unfortunately, not all carry it out, they get bored after a few days. And why is this happening? Because this is not simply to be acquired, most of us want instant so no wonder why most traders fail and lose their money like a bubble.

Honestly, it is easy to understand the importance of being patient but what will happen is a big opposite. All we can hear is "I'll be patient", and "I could wait the right time" but after a few minutes, it is all done, we sell them due to panic.

Therefore, if we think can't handle the pressure of trading, better leave and not trade because it is hopeless to aim for success if we don't see how important is this.

Iamcrypticguy

jr. member

Activity: 364

Merit: 5

Navigating the Crypto world & Holding BGB Along..

Quote from: X-ray on July 10, 2024, 02:29:49 AM

You need to be patient even when your futures or spot have unrealized PnL Grin

I think it's pretty important as well to add into your list because the reason some people might just go all-in with all their capital disregarding common sense is because they become tilted that they just decide to go big or go home due to getting tired of losing.
Have seen plenty of people doing exactly that honestly, and it's always the main reason why some people after losing in trading don't come back again to make up for their losses.
Many people also getting so scared with their investment when they see their portfolio is all red, but i've learnt first hand that sometime just wait it out to comeback in price again do wonders.

..

Patience is the bedrock of a good crypto trader. When you're looking, when you're winning. Patience is key!!.

X-ray

hero member

Activity: 2996

Merit: 524

Leading Crypto Sports Betting & Casino Platform

You need to be patient even when your futures or spot have unrealized PnL Grin

I think it's pretty important as well to add into your list because the reason some people might just go all-in with all their capital disregarding common sense is because they become tilted that they just decide to go big or go home due to getting tired of losing.
Have seen plenty of people doing exactly that honestly, and it's always the main reason why some people after losing in trading don't come back again to make up for their losses.
Many people also getting so scared with their investment when they see their portfolio is all red, but i've learnt first hand that sometime just wait it out to comeback in price again do wonders.

Rruchi man

legendary

Activity: 1414

Merit: 1104

Bitcoin Casino Est. 2013

Quote from: laubeaud on July 09, 2024, 06:41:47 AM

D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.

Although it is good to allow your trade always hits the target, it is not compulsory that you must let your trade always hit your target profit.

There are sometimes, in special circumstances that you could bail out of a trade once you feel comfortable enough with the profit that you have made from it.

Franctoshi

hero member

Activity: 910

Merit: 582

Quote from: laubeaud on July 09, 2024, 06:41:47 AM

D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.

Do you have something to add?

You have made some significant points here because market is a waiting game, waiting game in sense that it involves being patient as you've made mention, However, in addition to the above point, Sometimes isn't always like that ,that is being patient until your trades hits tp, there are times you have to close up your trades when it hasn't hit take profit target, and this is base on the changing market conditions that could alter the initial trend of the market, such as war events, Geo-political events and economic news,

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: laubeaud on July 09, 2024, 06:41:47 AM

As a trader, we need patience while trading.

In trading, patience is required at four levels:

A) You need patience to learn how the market moves and how to trade it—"Learn" first before you "Earn."

B) You need to have patience and do a thorough analysis before taking a trade. Do not rush into trades.

C) You need to be patient and wait for your setup or the right opportunity. Be a sniper, not a machine gun, opening trades at each market movement.

D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.

Do you have something to add?

Traders also need patience and remember that they cannot make all the profits they are looking for in a single trade, it takes time to build their capital, so assuming that their goal was to multiply their money 10 times then they need to give themselves several years to reach this goal on this market, but many traders want to achieve this goal in just a few months, and this is not possible without assuming massive risks, to the point I could say that person is not trading anymore but gambling.

Ahli38

hero member

Activity: 854

Merit: 743

Patience is one of the things that a trader must have if he wants to become a successful trader. because without patience everything in trading will only result in more losses than profits. This includes the problem of perceiving profits obtained every day. Don't be too greedy by continuing to hope for more profits after we have some profits. We have to be patient not to enter any more trades after making several profits. Because usually when we have made a profit in trading, we tend to want to return to trading immediately and hope to get more profits. And a pro discipliner for that matter. Namely, they have determined a daily profit target. And if this has been achieved, they can rest and only return to the market the next day. And to do this requires a lot of patience to wait for tomorrow. Because most beginners become too ambitious and spend too much time in the market and they end up losing the profits they managed to get initially.

DarkState

jr. member

Activity: 123

Merit: 9

Hello
I agree that patience is the most important key in trading each point you have mentioned underlines a vital stage of the process. Trading is so risky and the markets can be volatile at any time. So we all have to take decisions with patience no matter what the market conditions are while trading. Its essential to stay calm and stick to your strategy but I want to add that the market environment can change and strategies that work today might not work tomorrow.

dzungmobile

sr. member

Activity: 840

Merit: 422

I stand with Ukraine!

Quote from: laubeaud on July 09, 2024, 06:41:47 AM

As a trader, we need patience while trading.

Do you have something to add?

Patience can be interpreted as part of discipline which is important for traders.

A trader can not succeed in trading without good discipline, of course knowledge and experience are important too. If you are not disciplined, you will arbitrarily do your entry and exit in the market like FOMO with purchase and panic with entry, don't cut loss, hold to die with big loss.

Discipline, patience are one of most important factors but before that, make sure you spend enough time for learning on trading. With good knowledge and discipline, you will survive in the market and gain more experience that will help you to be more successful in trading.

Don't do trading unduly because it makes you more easily lose money.

Between trading and investing, I recommend investing that is safer, more comfortable, less headache and you will also have more time to enjoy.

$weetne$$

full member

Activity: 322

Merit: 227

Quote from: laubeaud on July 09, 2024, 06:41:47 AM

A) You need patience to learn how the market moves and how to trade it—"Learn" first before you "Earn."

B) You need to have patience and do a thorough analysis before taking a trade. Do not rush into trades.

I think you need patience for everything because without having patience you will be messing up your trades. You do not have to be in a rush to end your trade when your targets has not been reach and always stay on track with your goals and not leaving the market before your targets are reached. You need patience when learning how to trade because it can frustrate you at times. You also need patience when starting to trade newly as you will lose some of your first trade but it is your determination and persistence that would help you turn into a professional trader. You are going to make mistakes but learn to have patience with your learning process and you will turn out to become a very good trader that makes profits not always losing.

Mr. Magkaisa

sr. member

Activity: 840

Merit: 292

- You know, in trading, if you are going to have patience, you should also accompany it with self-control or discipline, and above all, don't let our emotions control us; instead, we should be the ones who control it so we don't lose focus.

There are a lot of people who fail to control their emotions incorrectly, which usually happens when other traders get carried away by their emotions, which is why the result is that they sell their holdings of crypto assets at a loss, thinking that they will not rise again. .

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: Peanutswar on July 09, 2024, 08:02:02 AM

It's on how you will manage the risk, people tend to make trading without proper execution or plan with their trades, which is one of the basic fundamentals that a trader must need to prepare for the position they keep watching, yes every position you made there's a profit but if you feel doubt with your position and you know there are some changes with the market now its up to you if you keep willing to take a risk or not. Base on my experience in trading ill do make a position and keep an eye until the signal or pattern given to me with the help of the indicator that's the time ill go entry, I will not make a move that will just become regrets and waste of money.

When we are just that starting then it would really be that normal that we would really be testing out different variations on which this is something normal.The thing that you should really be that be careful is on the moment that you are making such decisions on which it would really be always recommended to reassess on whatever things you encounter so that on next time, you would really be able to make yourself do know on what you gonna do next It is really just that depending on someone approach.

For me on which patience would be relevant is on the time or moment that you do make yourself wait for the right entry or exit.
This is where patience would really be tested out.You would be able to find out along the way.

Peanutswar

legendary

Activity: 1666

Merit: 1222

Top Crypto Casino

It's on how you will manage the risk, people tend to make trading without proper execution or plan with their trades, which is one of the basic fundamentals that a trader must need to prepare for the position they keep watching, yes every position you made there's a profit but if you feel doubt with your position and you know there are some changes with the market now its up to you if you keep willing to take a risk or not. Base on my experience in trading ill do make a position and keep an eye until the signal or pattern given to me with the help of the indicator that's the time ill go entry, I will not make a move that will just become regrets and waste of money.

EarnOnVictor

hero member

Activity: 798

Merit: 635

Leading Crypto Sports Betting & Casino Platform

Quote from: laubeaud on July 09, 2024, 06:41:47 AM

A) You need patience to learn how the market moves and how to trade it—"Learn" first before you "Earn."

B) You need to have patience and do a thorough analysis before taking a trade. Do not rush into trades.

C) You need to be patient and wait for your setup or the right opportunity. Be a sniper, not a machine gun, opening trades at each market movement.

D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.

I agree with A and B, C is a repetition, while D is not true for all trading conditions. It is not a must you have a target, instead, you may have a trading goal. I am a flexible trader so I do both. There are times I have my target (either placing the TP or closing it manually) and there are times I have my goal (for example: to close the trade when an opposite outlook is seen on the chart). There are other examples like when scheduled news is about to be released or released news is not in the favour of your position, and many more.

Quote

Do you have something to add?

Yes, I have one. Be patient when you are facing overall challenges in trading. "Rome was never built in a day." Perseverance matters and it gets better over time.

_act_

legendary

Activity: 994

Merit: 1267

Lightning network is good with small amount of BTC

Using low leverage also means patience. Using just little amount of money to trade also means patience. Another important one which you mentioned is to enter the market at the right time. Some traders will enter the market at the wrong time.

There are time that you will enter the market at the right time but the market will still be against you. This is where low leverage and using the money that you can afford to lose is very important.

laubeaud

newbie

Activity: 27

Merit: 0

As a trader, we need patience while trading.

In trading, patience is required at four levels:

A) You need patience to learn how the market moves and how to trade it—"Learn" first before you "Earn."

B) You need to have patience and do a thorough analysis before taking a trade. Do not rush into trades.

C) You need to be patient and wait for your setup or the right opportunity. Be a sniper, not a machine gun, opening trades at each market movement.

D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.

Do you have something to add?

Topic: What does patience mean in trading? - page 5. (Read 960 times)