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Issue 57 – Patience Pays

August 23, 2021


Trading in and of itself isn’t all that difficult. After all, you have a 50/50 chance of getting the direction right.

It’s the necessary patience and lack thereof that destroys most accounts. Patience to wait for the trade to set up and more patience to wait for it to play out.

Profitable trading is 99% waiting and 1% doing. And what better time to talk about this than when markets are slow like they are right now.

Today’s issue will cover the importance of patience in trading. I’ll also share two simple ways to stay more patient, so you can start taking better, more profitable trades.

Let’s begin!

More Waiting, Less Doing

One of the most challenging concepts to learn in trading (or investing, for that matter) is that the money is made in the waiting.

Buying and selling for the sake of being active and feeling like a trader is a great way to blow an account.

If you genuinely want to grow an account, you have to wait for the market to give you a proper setup.

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Trading Tools & Resources

The links below are affiliate links. Meaning that at no additional cost to you, I will earn a commission if you click through and sign up.

Bybit - My preferred exchange for trading crypto. Over 100 tradable assets, super competitive spreads, and the best mobile trading platform I've ever used. Use the link below to receive up to $4,000 USD in bonuses. Limited time offer! Note: US clients must use a VPN.

iTrustCapital - Where I invest in crypto for my retirement account. These are self-directed IRAs where you can invest in dozens of crypto assets and even gold and silver. Right now they're offering $100 in BTC when you fund an account with at least $1,000. Use the link below to claim this offer. 

TraderSync- The crypto trading journal I use and trust. Enter trades manually or import from dozens of brokers/exchanges, including Bybit! Track your win rate, average return, profit factor and identify mistakes to improve your trading. 

Justin Bennett

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About the Author

I'm Justin Bennett, a currency trader turned crypto enthusiast.

My journey started with stocks in 2002. After limited success, I transitioned to currencies in 2007, which later became a full time trading gig.

The journey continued, and in 2020, I committed to learning about cryptocurrencies. It was love at first sight.

Cryptocademy.com is the culmination of my love for cryptocurrencies, my passion for financial markets, and desire to learn and teach.

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