Of course, patience and strategy are very important in trading. We have heard before that practice makes a man successful. But a few days ago, in a lecture by American writer Shivkhera, I heard that only perfect practice makes a man successful. Actually, we need to know the rules of trading correctly. Only then will we succeed.
Perfect practice or not, it makes us closer to understanding more: just to a different degree. That is what matters most, as well as proper risk management.
Risk management is very important among all factors in trading.
Sometimes, patience and greed are related because you can have the chance and opportunity to take the little profit you have, but you might decide to be patient and wait for some times, and this can lead to loss if proper risk management is not used.
Trading in general is very risky that’s why adequate knowledge is required to start trading. However, for newbies, they can start by investing in Bitcoin precisely so that they can hold Bitcoin while learning trading so that they can start fully after learning in order to avoid losses.
Good point, and same with your example most of those who lose their money are those who did not take the opportunity to stop when they have that chance to earn, but instead they did aim to win more and regret after, there are situation that patience might be use especially if you trust your knowledge and understanding.
Like what you said, proper knowledge and established your skills and understanding might allow you to prevent losing your investment.