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.
Why most people loss to the market is because they enter the market anyhow without carefully analyzing the market from the different time frame.
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.
There are too many in the rush who get into the market too fast and follow each step without actually knowing what is happening. It is sort of like grabbing a falling blade that never turns out good. The difference in results can be immense when taking time to study various lengths of time and wait until the opportune time to make entry.
Patience also does not only refer to when to make trades. It is also about being able to follow through on your plan and not doubling up your capital overnight but to be patient and allow it to grow. It takes time to make a small investment grow into something larger, being impatient usually results in rash moves that cause losses.
The traders who survive are to me the ones who can think of trading as a marathon and not a sprint. It is about constant improvement, risk handling and above all the willingness to wait so that the opportune moment comes.