Patient traders are profitable traders

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                                                         Image by Tumisu from Pixabay


Posting this email excerpt from the Traders Mastermind.

Patience is the one thing that stops most traders from becoming the traders they want to be.


It’s simple. Patient traders are profitable traders.
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​Don’t believe me?
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​Maybe these quotes from some of the best traders in the world will change your mind…

“Trading is a waiting game. You wait and wait and wait. Then you get in. Then you wait and wait and wait some more.”
- Jesse Livermore

“Patience is essential for trading. When there is nothing to do, do nothing.”
- Jesse Livermore

“Successful investing is about managing risk, not avoiding it. Patience is one of the most important factors.”
- Benjamin Graham
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“The big money is not in the buying and selling, but in the waiting.”
- Charlie Munger
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“The stock market is a device for transferring money from the impatient to the patient.”
- Warren Buffett
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“If most traders would learn to sit on their hands 50 per cent of the time, they would make a lot more money.”
- Bill Lipschutz
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Finally the best of the bunch
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​“The best trades are the ones in which you have all the factors in your favour. Waiting for such trades requires patience and discipline.”
- Paul Tudor Jones
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​Just wait, then wait, then wait some more.
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If you can do that, you cut your losing trades drastically, and if you cut your losing trades you have more confidence to hit the winners harder and hold them longer, and if you do that your bottom line is a whole different story…

There is time to sow and a time to harvest. Selectivity is absolutely key. You can't pick fruits in the middle of winter. You are not in the business of making brokers rich. Sometimes no trade is the best trade. When waiting your capital remains intact.

The best opportunities are not found, they are spotted. It is better to remain empty-handed on the sidelines than chase the market out of FOMO.

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