Results 1 to 7 of 7
 0 Attachment(s)    

Thread: Patience – a forex trading virtue?

  1. #1
    Join Date
    Aug 2014

    Default Patience – a forex trading virtue?

    In a market such as the Forex market, where it is much easier to lose money than it is to make it, you sometimes have to accept that not losing any money can be just as good as making some. Nevertheless, many traders – especially newbies – get impatient and start taking stupid risks just because they are tired of sitting on their hands waiting for the perfect trade opportunity. But if you can find the patience to wait it out, you will find the forex market to be a far more rewarding place.

    An impatient trader is a trader with a problem – one that is hurting their trading performance. Once you recognise that you have this problem, you can begin to work on it and change your trading strategies for the better.

    Think first

    There is a need for patience at all stages of a typical forex trade. There’s no doubt about it, trading can give you a buzz, but when you are making decisions emotionally, you’re not trading – you’re gambling. This can be especially acute when you have a few profitable trades in a row, as it can lead you to jump into the next trade without thinking. Needless to say, you should always think first before you trade – and think hard. It’s better to miss out on a few trade opportunities by taking your time to analyse it than to mess up your strategy with under-researched trades.

    Another benefit of a patient approach is that it allows you to sit back and wait until the time is right for you to make a trade. Of course, you should spend as much time as possible analysing the market and adjusting your trading plans accordingly, but you need to wait wait until the market is working for your particular strategy before making any investments.

    Let profits run

    A common strategy among newbie traders is to take profits as soon as they have them, and let losses run in the hope that a trade idea will be proved right. In most cases, this is the wrong approach, as it means that you have to be right a lot more times than you are wrong to make any profit at all. Instead, you should cut losses short and refuse to take profits until you have hit your profit target for that trade. That way, you can still make money even if you are wrong more often than you are right.

    Don’t trade when you are desperate for a win

    If you have sustained a number of losses in a row, the natural urge is to get right back on the horse and try to win back some of your losses. As with anything trading-related, the minute you let your emotions influence your trading is the minute your trading plan goes out the window.

    In cases such as these, it is far better to get away from the screen and analyse where you made the mistakes that led to these losses. Did you deviate from your trading plan? Or do you need to adjust your strategic approach? In either case, you need to take some time out to work out where you went wrong, and come back relaxed and in a clear frame of mind, ready to start trading in the right way again.

    Once you recognise the value of patience, and the mentality that you have to adopt, you will start to see your trading performance slowly but surely improve. Rather than seeking out big profits immediately, use your time to build your skills, gain experience, and wait for the best opportunities. While this might mean you don’t make much money to begin with, you won’t lose much either, and you will be much better positioned to make profits in the long run.

  2. #2


    Determinately yes its one of the asset that every trader must posses, but its very hard and as the trader gains experience he tends to get more patient.

  3. #3


    patience is important in forexmarket. it can help keep lose order or win order. we can get our profit and keeping plan. this factor is reason for successfull. i was keep my lose position in a long time with patience. final i had profit with it.

  4. #4
    Join Date
    Jun 2014


    Keeping patience is very necessary in Forex market and every trader must try to be patient. if you will loose your patience in trade you will loose your trade quickly.

  5. #5


    Yes its a advantage in forex trading especially when you are a new trader, we tend to capitalist in every situation by being impatient, but as a trader gains experience he can improve his patience level.

  6. #6
    Join Date
    Jan 2013


    Yes to be patient in Forex trading is very very important and necessary and every trader must possess patience while trading. If you will loose patience you will also loose your trade.

  7. #7
    Join Date
    Jul 2015


    patience is important in forex trading because with patience it will allow us to trade with the maximum and comfortable. To be able to find the right time to enter and exit the market then we need patience in this forex trading

Similar Threads

  1. Replies: 0
    Last Post: 05-04-2014, 15:16
  2. Education or Patience; which is essetial for success in Forex?
    By shereali in forum Trading discussion
    Replies: 1
    Last Post: 02-18-2014, 08:27
  3. Free Forex Trading Strategies Daily from Asia Forex Mentor
    By asiaforexmentor in forum Trading discussion
    Replies: 5
    Last Post: 02-22-2011, 10:38

Tags for this Thread

change, forex, forex market, forex trading, investments, money, profitable, strategies, strategy, trading, trading plans

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts