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Why You MUST Master Patience & Discipline When Trading Stocks

February 10th, 2015

The Two Traits You Need To Succeed

Patience and Discipline are two essential inner traits for traders to have. The longer you’re able to focus intently on something, the easier it is to do it in the future. The same is true with patience and discipline – the more you focus on being patient and having discipline, the better you’ll become at it.

Let me give you an example. Let’s say that every time I see a beautiful woman, I go after her that same moment. I see one, and I run after her. The next woman I see, I chase after her as well. This kind of behavior will not make me a healthy romantic choice for any of these women.

Yet we do the same thing with the stock market…we see a stock that looks enticing to us, it’s running upward and we immediately feel like we have to invest in it. Then another stock makes a big run and we immediately run to that stock to invest in it as quickly as we can.

It comes down to a lack of patience and discipline – we aren't willing to wait for the right one. Patience, my friends! Sit down – take a deep breath – and let things set up and come to you. You won’t get everything you want from the first time you meet that special someone. And you won’t get everything you want from that first moment you enter a trade either.

It takes time for things to build up in the stock market – which is why patience is so crucial. This is just like in a romantic relationship -- the longer you spend building it up and nurturing it, the better it will be for you.

Be patient and allow the charts to set up. Even if it looks like it is breaking lower, you may want to wait a second day for confirmation. If it looks like it is breaking higher, you may want to wait a little while to see if there is a pullback before entering the stock.

Patience and discipline will help prevent you from allowing your small losses to snowball into bigger losses as you frantically chase after ways to recoup your small losses. In all your trades, do everything with patience and discipline.

 

Author: Sasha Evdakov

Sasha is the creator of the Tradersfly and Rise2Learn. He focuses on high-level education speaking at events, writing books, and publishing video courses on business development, internet marketing, finance, and personal growth.

I'm Sasha, an educational entrepreneur and a stock trader. In addition to running my own online businesses, I also enjoy trading stocks and helping the individual investor understand the stock market. Let me share with you some techniques & concepts that I used over the last 10+ years to give you that edge in the market. Learn More

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This website and content is for information purposes only as Rise2Learn, TradersFly, and Sasha Evdakov are NOT registered as a securities broker-dealer nor an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Rise2Learn, TradersFly, and Sasha Evdakov cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Rise2Learn, TradersFly, and Sasha Evdakov in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Rise2Learn, TradersFly, and Sasha Evdakov accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.