Patience...

I want to talk about a very interesting thing called patience. Patience - one of the key factors in the financial markets. I'll even say more: after a considerable amount of time I've spent on the еI realized that only people with a stable psyche and an iron patience can make money from buying and selling currencies.

Let's take a closer look at all of this. It often happens that we keep losing positions and close profitable ones early. It always becomes very frustrating, especially when, after closing a position, we observe how the pair continues a good movement in the specified direction. We watch, reproaching ourselves for being very impatient. Indeed: why does this happen? Where does this patience go at the most responsible moment?

To begin with, patience, in my view, is a subjective psychological concept. It is abstract in itself. It is abstract in the sense that each person has his own criterion for patience, for one thing. Secondly, what can really be called patience? On the one hand, a closed position ahead of time is a lack of that very patience. On the other hand if you look at the trading process from a different angle: what is the real reason for early exit from the market? No, not a lack of patience, we attribute the fact of an early closing to it. In fact, the market exit is due only to imperfection of the trading system, namely in the deal closing rule: there is no clearly defined plan for exiting a position. There is an entry plan, so we enter accurately. And there is no exit plan, so, having entered in the right direction, we begin to rejoice and quickly exit, often fearing that it may reverse. And when after the exit we observe the continuation of the movement, we blame and scold ourselves. So much for patience. That's all Psychology.

So it turns out that in order to conquer the lack of patience, which is not really a lack of patience in this context, we only need to "rehearse" the trading system. In other words, discipline and only it can remove the notion of patience, make us not worry during trading and treat everything philosophically.