Patience is a critical part of successful trading. Now some people have a lot of patience doing other activities but when involved with money its always the other way around. People want to make money fast. They don't want to wait. It is a natural human tendency to hurry. Heck we all want to get to our destination faster and save more time. However the truth of the matter is that successful trading requires incredible super duper patience. You need to look for the most high probable trades out there. From my experience trading 2-3 times a week is most ideal. I find the best trades happen every 2-3 days. Even trading once a week is good. We don't want to be machine gun traders shooting at everything we see. You want to be a sniper. Yes a sniper. Trade slow motion and you are able to plan ahead and therefore you always get the best fill price. Patience is virtue.
Remember we are traders and masters of risk!
Wednesday, 8 February 2012
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