What to do when there's nothing to do

I’ve written about patience before. I will write about patience again. Traders write about patience constantly. I make it a habit to share articles about patience. My notebook has over 100 notes containing the word patience.

It can be a constant struggle. The urge to “do something” is always there.

Don’t give in.

Wait. Be patient. Don’t force trades. And definitely don’t chase trades.

“I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime.” — Jim Rogers

Be like the bear who’s fishing. Choose your spot carefully and then just wait for the fish to jump out at you.

You still have to make an effort. You have to be ready to catch it. You have to watch and observe and work to put yourself in the best position.

But then you just wait.

Some of them will slip right by you. They’ll be so close you’ll feel silly for missing them. Do not fret. Keep waiting. There will be more.

In times like this, when the market is struggling and trends are hard to find, it is more important than ever to wait. This market will turn. It’s always changing. If this is the market type that works best for you, enjoy it. Make the most of it while you can. If this isn’t your market type, wait. The market type that is most profitable for your trading system will return. Until then you must preserve and protect capital.

Be patient.