Patience in trading/investing

[kion 381]

Patience in life is a very important virtue, especially in the world of cryptocurrecies where everything is dependent on risks and prediction, so without patience, we would not achieve our goals Because we would be quick to give up when things are not going to plan, so let be patient.

[Shubham kakade 556]

On 5/6/2020 at 4:54 PM, rekter said:

Patience is just one of the tricks people have been telling me to master when i started investing, but it seems to be a misunderstood concept and it doesn't serve any purpose especially in trading unless you know where to apply it. It seems to be only used when speaking about selling. Patience also means that you have to wait for the right time to buy and not to fomo in.

 

But mostly it's a trick that traders teach to newbie investors to calm them down their nerves and not to panic sell on every dip. It's just faster trick then to teach trading and it usually have better results then with panic selling.

 

Usually.

 

Because patience can also get you rekt if you think that it means just waiting and hodling. Especially when you happen to be hodling a wrong thing.

In trading it means you have to wait for the right time to execute your plan. Timing is everything. Some times acting on time is just better then sticking to plan of hodling in disbelief on what's happening. Even f the project fundamentals are good, it will be good to have some money left to invest if it drops another -90% if your plan is to average your buy in.

 

But the key point is that you need to have an exit plan if something goes wrong. When the crash happens you usually see people in telegram channels that didn't have a plan for it, only plan was to hodl, no money left and now they are clueless what to do. They will keep hodling even to over -90% loss while telling themselves that they have just been patient. While in fact they have been too scared to get out low. I have done this too. Sometimes people forget that if the project is crap it can dip another -90% until there are only sell walls.

 

People just like to think that their profit gains happen because they are good traders and losses happen because of others. Being honest to yourself and owning your mistakes is the only way to learn.

You are right brother but i think any thing which is over limit is also harmful. Some people think they have enough patience but sometimes opportunities are gone and we are just waiting and wondering we have patience.  So be ready to grab chance or opportunity and be a risk taker and yea at the end have some patience;).

[teebasas 3018]

No one can deny that patience is essential for a trader, but panic can also be helpful, as panic and complacency with a small loss can save capital from an unsustainable loss. Patience and panic are both beneficial, and an experienced trader tries to be proficient at using both at the right moment.

Edited March 9, 2021 by teebasas

[Alan Johns 258]

We need to make a complete strategy before entering in any trade and should act on it and If there is any severe situation in market we newd to be patient at that time and should stick to our plan. Don't be pani in those situations just relax and carry on with your plan.

[Abrar1122 10]

patience is the most important factor in trading as well as in investing in any coin because some of the times you need to wait for years to get the return on your investment

[Mohamedryad 287]

Patience is very important in everything in trading and investing, and if you can control yourself and control your feelings, you will reach a lot of profit and you will reach your dream easily.

[Pakeeza 90]

Yes really very true patience is the key fector involved here in cryptocurrencies as there are some steps involved in trading or investments the main and very important is patience, if you lack patience you can't be successful.

[Reen 1120]

Patience is very important factor in trading.The trader is patient when he incurs losses and learns constantly without getting bored. The role of patience is very important in crypto market. I think patience is one of the most significant people`s skills. This ability can really help you to become successful and have everything what you want. Just be patience and keep working .

[Oliver james 0]

Yes you are right micro and I agree with your opinion and your suggestion because there are many people who are very councils to join different online earning site but most of them have without patience in investment and in trading so you also advised to all member to keep well connected be honest work hard on this site and always a much more profitable learning because those people who take time properly and be patient and Fiona so their profit will also increases and have good relation to their senior and in the whole market.

[mahmudulmh321 15]

Also advised to stay well connected and work hard on this site and always learn more profitable because those people who take the right time and be patient and with Fiona their profit will also increase and they will have good relationship with senior and whole market. Yes you are right micro and I am yours I agree with the opinion and your advice because there are many people who are very counseling to join various online earning sites but most of them are impatient with investment and business but you can advise all the members.

[Bayan alazm 1]

I agree with the theme, patience is very important in the market, and what it tells in your post is very true, and useful for other beginner people adding to this, assimilating commerce as Kung fu.

[MrSpasybo 1049]

This topic reminds me of DOGE, when DOGE's price has just surged and brought big profits for the holders. Before that, everyone thought DOGE's growth opportunities disappeared after being pumped so hard by Elon Musk. Even those who sold DOGE yesterday are regretting that DOGE price is x2 today. Patience and calmness in judging the market through the indicators is extremely important to getting profits in this market.

[abohasnn9 2401]

Yes dear, of course we need the chest when entering a certain field in cryptocurrencies, especially the field of trading and investment in cryptocurrencies in general, because we hardly lose a lot of money while buying a specific currency, and then this process is downward so we have to become accustomed to the rise, especially the field of investment we are entering  In his work on remote investment, by buying it at a certain price, it may decrease and return to a high, so you should not risk and sell. Our goal is profit not loss. Thank you very much.

[Moshi khan 459 347]

I always say it among the major factor to be considered because without patience you can't control your emotions and fears during trading۔patience is very necessary for trading and investig۔۔

[Zrnabaly 179]

So dear those who are doing trading have to be patient. Because patience in trading or in investing is very important. If we are in tension or in any type of stress we make wrong decisions. It effects our trading.

So people have patience in this.

Thanks.

[Mella 3680]

Very strong advice with your article, I have also panic sold before, but this market for one year looks very easy. The drops have been very small and if when we have too much in our trade, it can lose a lot, but the mistake we make as beginners is to sell at loss and having weak hands. This kind of trade will never help us, the trade needs to be analyzed and with long term depth and of course as you are said, we need patience to wait for when to buy. I am know in this patience myself.

[Emma james 333]

Patience is essential in trading because sometimes it takes alot of time for the coin price to come up so you don't have to rush it also the price may go down for a while and you will feel that you may have lost and you need to sell immediately but the truth is if you have been patient and waited you would have sell it in higher price. 

[ernestine 9]

patience is mainly an important part of trading ,because in trading we have to wait for increasing and decreasing in any currency so we have to wait for best opportunity for buying and selling purposes

[Jenny Lavelle 526]

Do you think that those who are afraid of loss pretending patience !!
You are talking about a small group of people, everyone here knows that patience in investing is not a tool to accumulate your money or to hide your reputation that you are an afraid  investor can't bear his loose. 
Patience is the last key to the last closed door, meaning that if I sell in an outburst of fear or anger, you will lose, trust me If you are patient until the market calms down, you will achieve your goal.

My personal opinion..

Nice day for you.