Resisting the urge

Jan 12, 2022

Jan 12, 2022

What’s the most valuable thing a trader can ever possess?

Andrew Moss, CMT

What’s the most valuable thing a trader can ever possess?

It’s not skill. It’s not natural talent. It’s not a proven trading system. It’s certainly not money. While all of these things help, none are the most important.

The most valuable thing a trader can ever possess is

Patience.

• Patience while scanning through hundreds, thousands of charts looking for the best setups.

• Patience to wait and watch when you feel that you must work harder.

• Patience to resist the urge to “just do something.”

• Patience to wait for those setups to trigger.

• Patience to take the proper position size instead of going “all in” on that really sweet setup that does trigger.

• Patience to keep from selling too soon when profits are building.

• Patience to give a trade the proper breathing room when it doesn’t seem to be showing profit quickly enough.

• Patience to watch small profits add up slowly.

• Patience to be satisfied with a big winner without expecting another to show up right away.

• Patience to follow the plan.

Without patience, there will be no success in trading. No consistency. No durability.

So be patient. Practice patience. Cultivate it. Nurture it. Protect it.

Then, and only then, will you have a shot.

Originally published at https://typeshare.co.