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Waiting for the right trades requires patience. Entering and exiting a
trade at the right moment requires patience.
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Trading concepts and techniques are simple and easy to learn. What's hard
to learn is how to be patient and disciplined to do the right things and make
good trading decisions. Truthfully, it will be one of the most difficult
endeavors you will ever take on.
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To a newbie, sitting on the sidelines and watching the markets move while
you wait for your best setups means you're missing out on profits.
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This way of thinking leads to a failure of patience and discipline and
causes some of the most notorious trading mistakes in the book:
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·
Impulse trades
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·
Letting losers run too long
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·
Cutting winners too quickly
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·
Revenge trades
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Always remember that opportunities for good trades occur ALMOST EVERY
SINGLE DAY!
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No need to rush into bad trades. They will only set you back from
reaching your goals.
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Stick to your best ideas and setups, and if they don't come that session,
just wait for the next.
