Some markets become attractive, even addictive, which can lead us to be very impulsive.An impulsive person is a ticking time bomb, we can win a lot and usually lose much more.In this sense, patience is one of the key factors in making good decisions or staying on the right track.
We cannot deny that one of the most important things we must have in life is patience and this one has a lot can especially to obtain a profitable investment. The ability to control our impulses and not act, when others do; On some occasions, it can make us lose an opportunity or another, but in most cases, it will help us make better decisions, overcome very complex obstacles and make good decisions about the best assets to invest.
Looking at the trading results of last year, there were only 3 or 4 leveraged trades that really made the year. Other trades were not leveraged and resulted in a small profit on the one hand and a similar loss on the other. Many discretionary traders show a similar phenomenon. A few successful operations would make the year.
However, despite being aware of this, the allure of the markets makes it very difficult for traders to stay out of it. Trading itself is enjoyable and satisfying; it also becomes addictive and we can end up engaging in compulsive behavior. Therefore, being patient is something that can benefit us incredibly. At this point, there are some tips on how to be patient that we should follow.
The incredible power of patience in an investment How can I be patient?
Use a checklist. The simple act of using a checklist in trading can help us avoid different mistakes and potentially slow down an impulsive entry.
Deleveraging. Risking too much will end up making us go in and out prematurely. If we have difficulty accepting that our money is at risk, it will be difficult to leave options open. We’re going to end up going in and out too often.
We must use a checklist when we have an open operation. It is very easy to lose conviction over a trade over time. For example, we entered the market two weeks ago, but we no longer have the same conviction as before. If we go through our checklist, it will help us re-evaluate an open trade to see if we still have this high conviction. Making it more “Mathematical” is the way to help us know whether or not we should stand our ground.
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