Just like they say, the patient dog eats the fattest bone, some will say the patient dog does not eat the fattest bone again oh! But, you cannot over emphasis the importance of patience, in trading as most people loss to the market because for lack of patience.
Patience is very important in every aspect of life not just in trading, but when it comes to trading, it is very essential even though it is complicated especially if you don’t have good trading knowledge because you can place a trade and decide to be patience in order to get some gain, you might just be wasting your time because you might be loosing money at that time.
Also, waiting for your analysed market to come to play before entering the market is also very important, most persons in trading just enter the market because, they see a downward trend without carefully analyzing the real market structure and waiting patiently for it
Patience , does not only imply entering the market alone. A good capital is also needed to trade the market to be successful, but patience is also needed to transform that your small capital to a big one, by gradually making profits to a huge sum.
Hence, in the trading space patient cannot be over emphasis if we must be a good trader.
Aside for patience, the most important thing you need about trading is knowledge and understanding of market movement, if you have good knowledge and understanding of trading, you will hardly make a mistake if comparing patience to waste of time, you will always make the right decision that will favor you.
Nevertheless, risk management is also important, and you also need to learn how to control your emotions.