PsychologyBeginner7 min read
The Power of Patience: Waiting for the Right Trades
The best traders spend most of their time waiting, not trading. Here's why that matters.
Key facts
- Most of the time, there's nothing to do — and that's okay.
- Opportunities always come back; your capital might not.
- Boredom is a dangerous feeling in trading.
- Have hobbies outside the markets.
Why we feel we need to trade
We associate action with productivity. But in trading, sitting on your hands is often the most productive thing you can do.
How to build patience
Have a list of strict criteria a trade must meet before you enter. If it doesn't check every box, you don't trade — simple as that.
Staying busy outside the markets
If you're staring at charts all day, you'll find trades that aren't there. Have other hobbies, projects, or income streams to keep you occupied.
Ready to put this into practice?
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