Patience in Trading Hello traders,
Patience in trading is ability to wait to take the right action, if you have not enough patience you will have bad trades bad decisions and cause you to take action too soon.
3 things you should avoid if you want to become a better trader and improve your patience in trading.
1) Don't Rush :
Market is there not going anywhere so don't need to rush in bad trades stick to your best trade setups and always looking for an opportunity don't rush into normal trades.
So don't need to rush just relax and take things step by step, enjoy the journey of your trading.
''If you need to hurry, you are already too late''
2) Over Confident :
Over confident is a very worse thing especially in trading when someone overestimates their own skill and knowledge which can lead to them making mistakes.
There are some types of over confident like wishful thinking, over ranking, and illusion of control etc...
These all of types over confident can lead to big losses in trading.
Some of things that you can do to overcome your over confidence in trading is :
> Don't believe too much in your skills
> Always use stop loss
> Don't thinking just only for today
> Create your trading rules and don't break stick to it
> Always stay in the middle line don't go to the extreme which cause you over confident and don't go to the slight which cause you depression.
''We can never reach a stage where we can say, i know everything and i have nothing more left to learn''
3) Believe :
Believe in yourself if you don't have enough believe in your trading system or any kind of decisions you take in trading you can lead to big losses like comes in fear and try to close running trades and don't have enough believe in your taken trades.
Try to believe in yourself, try to believe in your decisions, try to believe in your trading system and be patient with your taken steps and wait for the outcome either it will bad or good doesn't matter just continue the process and learn from your previous mistakes and be better next time.
''Trust yourself, you know more than you think you do''
These are 3 things that you should need to do for patience in trading.
If you have any advice to be patient in trading please let me know in the comments.
I wish you good luck and good trading.
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