The Key to Everything is Patience. You get the chicken by hatching the egg, not by smashing it”

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Arnold H. Glasgow once said, “The key to everything is patience. You get the chicken by hatching the egg, not by smashing it.”

 

Many of us always have a mindset that trading/investing is just a pure luck game. Either we need a good trading system, good trading plan, years of experience, and ample of knowledge in order to be successful. We have to understand that trading/investing is the same when it comes to everything in our life. Developing a trading plan takes time, developing skills takes time, gaining experience takes years, and basically two of the key to success is PATIENCE and DISCIPLINE!

Waiting for the right trades requires patience. Entering and exiting a trade at the right moment requires discipline”

 

Trading concepts and techniques are easy to learn. The hardest thing is to learn how to be patience and disciplined in order to create a profitable trade and managing risks. This is one of the toughest challenge that every individual will need to deal with. Newbie will always love to stay at the sidelines watching the market moves, spotting opportunities but still staying at the sidelines, while waiting for their “best time” to enter the trade while they are missing out on the profits. This is the common mindset that will always lead to a failure of patience and discipline and causes all the mistakes in trading,

1) Impulse trades

2) Letting losses running too long not knowing when to cut loss.

3) Taking profits too early.

4) Taking a revenge on the trades that causes losses in the past.

Till the end of the day these actions will eventually dried off your funds in your account!

Always REMEMBER your job as a newbie while learning and gaining experience, is to learn how to adapt the right discipline onto your trading plan and strategies, and have patience on waiting for the right timing in each trade to capture your profitable trade or worst case is to learn how to protect your downside by setting your cut loss point! 

Technical Analysis is not a crystal ball knowing where the exact future price will be at. Market sentiments can change in split seconds! Being disciplined and having patience will help you to protect your downside (risks). Always learn how to protect your downside more than the upside! 

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