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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