How to develop patience in trading? 7 practical tips

Patience – это то, чего не хватает многим трейдерам, чтобы быть успешными в торговле на финансовых рынках. Развитое терпение — это то свойство человека, которое он может с легкостью монетизировать, применяя его в торговле на .

Sound familiar?

Option one

You are sitting in front of the monitor screen, looking for opportunities to enter the market. But they persistently do not appear. On the market the usual sideways trend. And you watch the picture of slow movement of the rate up and down near some price level. It becomes boring and you want to see some movements on the market, preferably strong movements. After all, you want to get involved in trading and make money as soon as possible. You do not just sit in front of the monitor for the second hour, "hypnotizing" the screen and watching the market to catch the movement of the rate and make money. And now you enter the market out of boredom and longing, thinking to yourself: "I'll make a few pips and jump out of the market". According to the well-known "law of meanness", after you open a deal, the market first hesitates near your entry point, and then begins a strong movement not in your direction.

The second option

Tired of the dull market movement, you enter the market as soon as you see a sharp movement to one side or another. Without understanding why it happened. As a rule, you enter at the maximum of the candle. At this moment the market starts to correct and you are in the minus. And it is good, if the market goes to the side of the initial movement and you get out of the deal with profit. But more often the opposite happens: the market goes back to the same levels where it was trading earlier or goes against you.

These are just two examples of impatience and impulsiveness that traders show towards the current market situation. In fact, they occur quite often in trading.

Patience and self-discipline in trading

You, like most traders, understand perfectly well that patience and self-discipline in trading are necessary for success. But you don't know what exactly you need to do.

You seem to be reading articles on trading psychologyand everything is clear and fine. But as soon as you return to trading, you make the same mistakes again. You realize that you still lack patience. And all your efforts, which were spent earlier to learn to be patient. Trader are wasted.

So how do you learn to be a patient trader?

«Что же все-таки делать?» — спросите вы. Чтобы научиться терпению, нужно время. Время для формирования новой привычки быть терпеливым. Нужны ваши усилия, четкая система правил, система штрафов и поощрений. Также не обойтись без помощи опытного специалиста.

The art of perceiving any market situation calmly and balanced comes only with the with training and experience. And also with the trader's understanding of what is happening in the market now and what may happen to the rate next.

I'll give you some tips to help you be a more patient and seasoned trader.

1. Start a trader's diary, in which you will write down all the situations that make you angry. As a rule, there are always some reasons, some triggers that cause you to lose patience. Take and write down on paper all the reasons why you lose patience in a given situation.

By writing down these reasons in a trader's diary, you will begin to understand yourself better. And this, in turn, will help you to cope with the causes of impatience and treat the problem or situation that caused you to lose patience in the market in a different way. In the future, you will be able to react differently to similar situations by changing your attitude to them.

2. Find out where you are in such a hurry after all. Why does a trader lose patience? Mainly because it seems to him that his time is limited. It is necessary to make money on the stock exchange faster. And also, the mistaken belief that a trader must necessarily trade and earn every day. Impulsiveness and loss of patience occur because a trader tries to grab the best price to enter the market. It is more correct to enter the market in a predetermined price range, rather than trying to grab the jumping prices.

Often the loss of patience occurs due to the trader's thoughts that time is running out. This happens because of an incorrect daily schedule and because of excessive requirements to their results. The position "I want everything at once and now" does not work on the market. Here you need a trading system and patiently follow it.

Revise your daily plans; you may be setting yourself exaggerated goals. You may be overextending yourself, and not spending enough time on other necessary tasks.

3. Let the situation go. Ask yourself just one simple question. After you have entered the market and opened a trade, can you somehow influence the market movement?

NO. The only thing you can do is to unsuccessfully move the stop-loss order in the direction of increasing losses. You cannot influence the movement of rates in any way. Therefore, let the situation go. Of course, it is not always easy, because it is difficult to stop worrying about the result. You are trading with your own money. But if you cannot influence the result, you should not rush to do something. Just exhale deeply, close the terminal and switch to other useful things.

4. Remember that everything takes time. Moscow was not built in an instant. Anything takes time. Wait. Let the situation develop. Often, impatient traders want to get results right away. And if they do not get the result at once, when they encounter difficulties, they give up and leave the market forever, giving up their dream to become financially independent. If you do not learn patience, a lot of opportunities in the market will pass you by.

5. Be prepared for the unexpected. Ваш детальный, прописанный перед сделкой торговый план- это хорошо. Но очень часто возникают непредвиденные движения рынка, которые вы не можете контролировать. Если курс идет не по вашему плану это очень сильно выводит из себя. А если это еще происходит систематически — тут в пору рвать на себе волосы и обвинять «неправильный» рынок и аналитиков во всех смертных грехах. Возможно, вам следует пересмотреть вашу trading strategy.

You should always have a plan "B", i.e. a plan of action if the market does not go according to your forecast. It is also very important to understand the boundaries of price zones to know where the market could potentially go.

6. Take a break. If you lack patience and you are on edge, especially if you make several mistakes in a row, take a break from trading. Find time to take your mind off the market. Get a good night's sleep, take time to spend with your family and friends. Or just do nothing and rest. Close the terminal and do not return to the market for some time.

7. Observe the trading timeframe. Если вы анализировали рынок на часовом графике цен и открывали сделку согласно часовому таймфрейму, не спешите выходить из сделки на таймфрейме меньшего размера, например, 15-ти минутном. Колебания на рынке внутри часового таймфрейма — это обычное дело для рынка. Принимайте решение о выходе из сделки на том, таймфрейме, на котором входили в рынок. Не спишите, учитесь терпению.

Take trading calmly, as if from the outside. There will always be some ups and downs, sharp price movements and unexpected reversals. The path to mastery is always long and requires effort and time. Therefore, in a situation when you want to be impatient, decide for yourself: are you ready to stop now and be impatient, or will you be a patient trader and continue to go to your goal until the victorious end.

I wish you patience and good luck with your trading.