Patience - what is it?

I came across this picture today - immediately thought about how PATIENCE pays bills!

Looking over your past 10-20 trades if you have waited for 2-5 bars longer to enter/exit
how much more would you have made (on the winning side )?

One way I practice patience outside of trading is when i pull up to a red light or get stuck in a traffic, i just breath easy and relax.

- are you a patient trader?

- what do you do to be more patient?

- are you a dog or a skunk?

Good post. For the most part I am TOO patient. Sometimes I get a strong feeling that I need to be in a market and I wait and wait and I don't see one of the setups I look for and so then I second guess my feeling and I fail to pull the trigger. This is the area I am working on at the moment because I have noticed that most of my feelings are right on the money. So, to summarise, you have to be patient but when the time is right you have to act FAST.

My big deal about patience is realizing there is a bigger picture to what I am doing as a trader (rob) than what I am thinking right now in this moment. Knowing this, helps me to be patient.

Good post. For the most part I am TOO patient. Sometimes I get a strong feeling that I need to be in a market and I wait and wait and I don't see one of the setups I look for and so then I second guess my feeling and I fail to pull the trigger. This is the area I am working on at the moment because I have noticed that most of my feelings are right on the money. So, to summarise, you have to be patient but when the time is right you have to act FAST.

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Is failing to pull the trigger a fear greed response, or a form of patience??



--

When Taffs go mad!

Patience - what is it?

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Is it a confused Welsh Doctor ,thinking out loud & pondering on why he's holding someones ruptured spleen in his hand ?



Patience, isn't it... ohh theres lovely boyo, whats this spleen yere then for?

EminiForecaster said:

Is failing to pull the trigger a fear greed response, or a form of patience??

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An interesting question. I think its down to my patience only wanting to take the setups that I know are profitable from experience and that my rules have defined. E.g. Candlestick patterns at key levels.

However, I experience fear in acting on feelings. And I want to overcome this because some of the best calls I make are based on feelings.

to me, not pulling the trigger always reduces to some form of fear issue with myself. That is why I also try to see the forest while looking at trees ;-) I am a systems trader though (with discretion), so the forest / trees analogy works for that- for pure discretionary trading it might be a bit different I would think.

EminiForecaster said:

- are you a dog or a skunk?

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neither, not even the bod taking the photo of the dog & skunk.... they lurk in the tree's,out of sight, casing the entire joint. they will take the skunk, the dog, the food, the person taking the photo, the camera, the house. EVERYTHING! Thats the gang you wanna join ?

So yes In a sense I am the skunk and the dog, but only for a moment, me enjoying them, enjoying their LAST MEAL !

One cannot be more patient? One can either be patient or not.

You know it's kinda like those surveys Erni< ya know the little tick boxes..

Question. Are you.

a) Satisfied
b) Quite satisfied
c) A little bit more than quite satisfied
d) really quite satisfied, the one a step ahead of option C.
e) satisfied satisfied (yes we sh!t you not, this is a real choice)
f) more satisfied than satisfied satisfied.

Man you is either satisfied or not.By the time i finish, i'm not even satisfied, now i'm livid see......

So then we go onto and now we have to fill out the new Livid section..

Question. Are you.

a) Livid
b) Quite Livid
c) A little bit more than quite Livid
d) really quite Livid, the one a step ahead of option C.
e) Livid Livid (yes we sh!t you not, this is a real choice)
f) more satisfied than Livid Livid.

Lol

EminiForecaster said:

I came across this picture today - immediately thought about how PATIENCE pays bills!

Looking over your past 10-20 trades if you have waited for 2-5 bars longer to enter/exit
how much more would you have made (on the winning side )?

One way I practice patience outside of trading is when i pull up to a red light or get stuck in a traffic, i just breath easy and relax.

- are you a patient trader?

- what do you do to be more patient?

- are you a dog or a skunk?

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i don't know

Patience and Discipline are the key to become successful in Forex Trading. Traders don't take it seriously and they lose, because they don't keep proper eye on the market and the money which is not earn is the money lost eventually.

trader_dante said:

Good post. For the most part I am TOO patient. Sometimes I get a strong feeling that I need to be in a market and I wait and wait and I don't see one of the setups I look for and so then I second guess my feeling and I fail to pull the trigger. This is the area I am working on at the moment because I have noticed that most of my feelings are right on the money. So, to summarise, you have to be patient but when the time is right you have to act FAST.

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Trader Dante must have been a good trader.

“Learn the art of patience. Apply discipline to your thoughts when they become anxious over the outcome of a goal. Impatience breeds anxiety, fear, discouragement and failure. Patience creates confidence, decisiveness, and a rational outlook, which eventually leads to success.” ~ Brian Adams

There's an old trading adage...

"Must be in to win!"

I never made any $ sitting on the sidelines twidling my thumbs.

Patience is good but I have an idea that doesn't let me sleep well!!
While I behave like that dog on the picture, some skunks are taking profit that could be mine ooohh

ok, who dusted off this old thread??

Peter

http://www.businessinsider.com/colin-camerer-wins-genius-grant-2013-9?IR=T

most traders are impatient

wackypete2 said:

ok, who dusted off this old thread??

Peter

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Patience is profit , me brushed it off

See 600 ticks profit in one trade , unlike 10 ticks impatience .

http://www.trade2win.com/boards/tra...-patience-psychologically-correct-trades.html

sometimes market gives 200 ticks profit , but you don't have patience

foroom lluzers said:

sometimes market gives 200 ticks profit , but you don't have patience

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I didn't ask about patience nor do I trade options. I asked a simple question and I refuse to click into your endless web of links. So you show us 1 trade...show us the loss trades too.

Peter