You read this phrase a thousand times.
But you don't understand it until you see yourself entering where you shouldn't have.
Most of the time I don't lose because I don't know how to analyze. I lose because I didn't know how to wait. Because it seemed like it was going away. Because I'd been staring at the chart for a while. Because I felt I had to do something.
It wasn't a bad idea. It was haste.
Entering a little early. Exiting a little early. Moving the stop loss just to breathe. None of that seems serious at the time, but it almost always ends the same way.
The market isn't in a hurry. I am.
And every time I get ahead of myself, I pay the price.
Over time you realize that many trades didn't fail. They should never have happened. There was no clear context. There was no confirmation. Just the desire to be in.
Waiting isn't easy. In fact, it's the most uncomfortable part of trading. Watching the price move without you. Feeling like you're late. Accepting it.
Patience isn't developed by studying more. It's developed by enduring being out of the game.
Have you also lost more due to haste than analysis?
"The market is a device for transferring money from the impatient to the patient." — Warren Buffett
byu/Ok_Budget9461 inethtrader
Posted by Ok_Budget9461
2 Comments
Yes, its difficult to be patient enough to play optimally, especially if you dont have all day to watch charts.that said its easy to learn to stop yourself from making a lot of dumb moves by simply collecting exposure and grounding yourself.
Highly recommend a happy personal life with your partner, and a busy fulfilling career. It stops you from checking too often.