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Is Patience important in stock trading? Yes. How about stubbornness?

2 posters

Go down  Message [Page 1 of 1]

hunter

hunter
Moderator
Moderator

I believe 'patience' is one most important technique a to-be-successful trader should master. At the same time, it is essential to know the difference between the patience and the stubbornness.

I found not only me think so:

Dennis Gartman, a successful trader and publisher of The Gartman Letter has this to say about the value of patience: "Proper patience is needed throughout the lifecycle of the trade, at entry, while holding and exit."


Fishing for a Winner
Patient investing is similar to fishing. There are many fish in the lake and it isn't necessary to catch every fish that swims by in order to be successful. In fact, it's only necessary to catch those few that bite and fill up your net (or that meet your trading criteria).

Read the whole article>> http://www.investopedia.com/articles/pf/07/patient_investor.asp#axzz1mjkasdGm

Summary
In summary, so much of trading is psychological, making patience a great virtue for investors. Exhibiting patience when entering a trade and having patience while a trade develops are integral parts to successful trading and investing. However, allowing patience to turn into stubbornness is something you must always guard against; consistently exiting a trade according to predefined criteria is one of the best methods of improving your success as a trader.

http://www.investopedia.com/articles/pf/07/patient_investor.asp#axzz1mjkasdGm

Read more: http://www.investopedia.com/articles/pf/07/patient_investor.asp#ixzz1mjo1TnKp

Read more: http://www.investopedia.com/articles/pf/07/patient_investor.asp#ixzz1mjniiVxK

Read more: http://www.investopedia.com/articles/pf/07/patient_investor.asp#ixzz1mjmuPj8Q

sriranga

sriranga
Co-Admin

Thanks hunter, really appreciate your efforts to share valuable infos with us.
I hope everyone will benefit.

http://sharemarket-srilanka.blogspot.co.uk/

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