Patience is a must in forex

Discussion in 'General Forex Discussion' started by mumuy, Dec 27, 2013.

  1. mumuy

    mumuy Active Trader

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    Most newbie traders do not have the patience to wait for a proper market position to trade. They try daily to open new order or recover their losses by opening new order. This is like digging a big hole which may be cause of death of the trader’s account. So, we should wait for a proper market position and open a new order after.


    Moreover, waiting is the best thing to do instead of being in loss by haste because if you place the trade in haste without finding the trend of market then there are much chances of loss for you therefore you should wait for the placing the trade when the market trend is suitable for you.
     
  2. shuvo_extreme

    shuvo_extreme Trader

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    Yes brother you are absoulately right that Patient is must during the trading time.In the time of trading If you lost your patient then you will lose your balance.So patient is one of the most important thing for forex business success.
     
  3. safitri

    safitri Banned

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    Without patient, we can't focus and got emotion while trading. And it makes our trade in danger and uncontrolled...
    WE must always FOCUS and calm...
     
  4. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    Patience is one of the most important characteristics of a successful trader. While it sounds very simply to just be patient once traders actually start many will realize that it is not as easy as it sounds.
     
  5. Emibluz

    Emibluz Banned

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    Traders without strategy and understanding are the ones who open trades randomly because they want to make up for loss. In the end, they end up losing more. A good trader is focused, knows what he wants and wait to grab it.
     
  6. lee.belisar

    lee.belisar Confirmed Gdmfx Representative

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    Patience is a must in Forex trading. It is one of the most crucial aspects to consider, to have and to practice if one wants to succeed in trading foreign currency. A trader without patience is almost impossible to have discipline and strategy in trading Forex. In the end, there is a big possibility that he will lose money.
     
  7. mumuy

    mumuy Active Trader

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    Patience is one of the cardinal virtue, because it is very crucial not only in trading but in life as well.
     
  8. fx abser

    fx abser Trader

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    when you open a trade you have a target your profit and loss.you trade can hit loss or profit.but you must have your logic.patience is essential element to become your stragedy fulfill
     
  9. miles

    miles Banned

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    Well, It's is required in forex because when enter a market without thorough observation you might lose all your money within a second but sometimes we have to take advantage of any little chance we have.
     
  10. rrayne20009

    rrayne20009 Trader

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    Most newbies who start trading want profits and they want it quickly and in huge amounts. Patience in forex is the ability to wait for a favorable outcome. It is a very important quality because if you lack patience,it oftenly leads to unsound decisions,blown accounts and the superiority of emotions over reason/sound logic.
     
  11. luxint

    luxint Trader

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    Absolutely it's one of the most important parts of trading and one that newbies and seasoned veterans fall foul of on a far too regular cycle.

    It's easy to slip even when you think you've got your emotions in check and sometimes depends on your mood and whether you've got 'personal' issues. Relationship, work, money etc.

    They all play tricks with your mind and you've just got to be strong willed.

    Lux
     
  12. ajpipsmaker

    ajpipsmaker Trader

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    I think Patience is needed in each and every field.
    However, it's true that patience is more important in the Forex market.
    I am not that experienced in the Forex, but I have seen some people losing a lot of money while trading for the simple reason that they got scared and closed the positions.

    So, one need to be very patient in Forex, and for the price to reach your planned levels.
    This is just my opinion though.

    Cheers :)
    Ajpipsmaker
     
  13. gerski

    gerski Trader

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    Patience is i believe is a one 'must required characteristics that a trader should possess if he want to succeed.We cant get huge amount of earnings in a little span of time in forex.We must be patient to make a possible consistent earnings.
     
  14. miles

    miles Banned

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    You are right. Impatience in the forex market can lead to loss of fund sometimes, especially when you are desperate to make profit by all means. If we can be patient in any trade we enter and stick to our trading skill, I'm pretty sure things will turn out well.
     
  15. John_Davy

    John_Davy Confirmed 1LotSTP Representative

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    Yes yes yes! We should always wait and strive hard.
     
  16. PolinaPolly

    PolinaPolly Trader

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    Totally agree that patience is a must for trader, cause when I am in hurry or just greedy, I lose :(
     
  17. Ary Barroso

    Ary Barroso Active Trader

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    Of course, this is why, I opened my live account after 500 trades in demo! Even, till now I practice with different strategies in the off days. I know, there is no ending point of learning.
     
  18. Edith1995

    Edith1995 Newbie

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    Very right, patience is a virtue for forex traders. Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.
     

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