When it comes to volatile markets like the cryptocurrency market, it's all about patience because if you are impatient, you will lose both money and opportunities. You lose money when you close your trades at the wrong time, and you lose opportunities if you take positions quickly because sometimes you need to wait for the market to give you better opportunities to get more profit, impatience can make you lose such opportunities.
I've seen a lot of people buying Bitcoin when the price is high and even when the market is giving signals that it is going to have a correction, but they don't wait because they are impatient and they think they will miss profits if it goes up from there. This can also be because of a lack of knowledge and understanding of the market.
Hence, you are right that without patience, one can hardly gain success in anything they do, be it trading or something else.
Buying when the price is high is unfortunately something way too many people do because of FOMO, they do not realize that when they are late they are late and there is nothing that you can do about it.
I personally feel that we should probably stay away from it as much as possible and because of that we could make a lot of money when the price actually goes down. I do not know why they do not do that and why they try to avoid this type of deal, but the reality is that we have to buy when it's low and not when it is high. There are so many people who do not see this growing, we need to make sure that it is going to be careful and we are going to be getting a greater result if we could just keep on holding as much as possible.
One of the most common mistake of a certain trader would really be doing having that kind of FOMO on which we know that this would really be something that very common mistake on which it would really be resulting out with that loss of money due into this kind of behavior on which this is something that we should really be careful. The main behavior for most people is that they would really be making those all in buy or entry
on the moment that the price is already on that huge very long green candle and not on the time that the market is really that on bearish mode (speaking about solid project). You would really be able to find yourself get caught on the peak and on the moment that the market would really be having those corrections then you would really be ending up on loss or negative on which this would be causing up that huge impact into your trading capital.
This is why on the time that you would really be that making yourself having those kind of bad impressions then it would really be ending up on having that kind of chasing of loses just like on what you are doing
when you are gambling and this is something a behavior on which you shouldnt really be that tolerating because on the time that this would happen then for sure it would really be that a huge disaster.
This is why it would really be best that you should really know at least on how you would really be that making yourself having that kind of control and moderation on things.