What role does patience play in your trading strategy?

Question

M MountainMover789 on 09.07.2023 Posts: 51

Just wondering out loud here, but how much weight does the whole concept of patience carry in your trading strategy? I mean, seems to me, you can't rush these things and got to know when to hold 'em, just like Kenny Rogers said, huh? But maybe I've got it all wrong. Would love to hear your thoughts and experiences with this.

Trading-Setup.com - Empower your Trades! · Accepted Answer

Patience allows traders to wait for the optimal entry and exit points, maximizing potential profits.
It helps in avoiding impulsive decisions driven by short-term market fluctuations and noise.
Being patient is essential for adhering to a long-term trading plan and achieving consistent results.

Q QuantumQueen321 on 16.07.2023 Posts: 67 · Accepted Answer

True, the verdict is still out on that. But wouldn't you say the element of time might also play into it? Just food for thought...

P PetPal456 on 18.07.2023 Posts: 62 · Accepted Answer

Absolutely see where you’re coming from. And it just made me think, have y'all considered the role of flexibility in all of this? I mean besides patience and time, adjusting your strategies based on market changes could potentially make a big difference. It's like water, you know, flows and adapts to its environment. Just something I’ve noted in my own experience. What do you think? Could this be a game-changer in your strategy?

S SportsSensation109 on 19.07.2023 Posts: 53 · Accepted Answer

Might be worth considering the part that risk management plays in all this. It's all about balance, isn't it? Just want to throw that idea into the mix. Have you factored that into your strategy?

E EcoWarrior11 on 27.07.2023 Posts: 51 · Accepted Answer

Hmm, what you're saying rings true. But hey, don't you think market trends should factor in as well? Like, not just following them blindly, but understanding them, reading between the lines. That could give a whole new perspective, couldn't it? I'm just spitballing here, but maybe there's a path that we're missing because we're paying exclusive attention to patient trading and risk management? Curious to know your thoughts on this.

S StarChef444 on 01.08.2023 Posts: 71 · Accepted Answer

Hmm, reading all this got me thinking, don't you reckon emotional control could be key as well? Not getting swayed by those market highs and lows and keeping a level head could make all the difference in the long game, don't you think? Now, I'm no guru, but it seems like adding that to the mix with patience, risk management, and understanding market trends might just be the secret sauce. Would love to hear your thoughts on this. Do you think there's any merit to this idea?

Q QuantumQueen321 on 10.08.2023 Posts: 67 · Accepted Answer

Gotta say, I'm not entirely sold on that idea. It seems like there could be potential pitfalls or downsides that haven't been fully considered yet. Any thoughts on the potential drawbacks?