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Saved by @SeekerHari

Why Patience is so Important as a Trader

🧵👇

 Have you ever felt like everyone around you is making money and you're not?
That's how I felt today after the market closed, while I was reflecting on my week.
In fact, over the past three months I've felt like this on multiple occasions!
If we look at my equity curve (EC), updated as of today's close, we can see multiple periods in which my account balance did not change.
But if analyzing the period prior to mid Feb (when my EC spiked), you see a slow drip downwards.

This is exactly what impatience looks like. Just a slow bleed out of money, trying to win on the next trade to make up for losing on the last trade.
What caused this impatience?

A couple of things 👇

❌ my greed got the best of me
❌ didn't trade my best setups
❌ influenced by others making $ short
❌ was red for yr & wanted to get green
So, what changed?

I...

✅ realized that impatience was losing me $
✅ decided that I would not care if others made $ w/o me
✅ planned to only trade my best setups for the rest of year
Of course, being able to sit and wait for your pitch means you have to have confidence in your setup.

This is only built through $STUDY.
We can take a quick look at @markminervini's 2021 performance and see patience on full display.

He had FOUR whole months of gains less than 5% and still went on to QUADRUPLE his account.
How?

He knows that when the time is right, he can make a whole lot of money.

When it isn't, he sits out!

This is why Mark is a master.
Yes, it's definitely easier said than done to have patience. You have to...

· $STUDY
· sit while other strategies make $
· control your emotions
But with a little bit of effort, you can take a quality most traders don't have and make it your biggest edge.
That's a wrap!

If you enjoyed this post:

1. Follow me @GregDuncan_ for more threads like these
2. Retweet the first tweet if you found it helpful or think it can help someone else level up their trading!
3. Check out my thoughts from yesterday https://t.co/tP86MiwUSt

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