Mastering the Ability to Wait

Seasoned traders realized that waiting, or sitting on your hands, is one major component of trading. According to Stephen of Tremper.com, “WAIT” can be considered a 4-letter word for some, but is an essential part of the trading process.

As Stephen puts it, “You’ve got to master the ability to wait, because the market doesn’t care about you at all.”

Traders must learn to master self-control in order to properly take or reject trades, and not taking a trade can sometimes be extremely difficult after waiting endlessly for market conditions to be right.

Both an understanding of trading psychology as well as discipline are required to make the best of your trading day. When setups do happen, traders must be ready to act, but in the meantime, good traders are excellent “waiters.”

Learn more in this 1-minute clip from the webinar Learn Trading Discipline with Discipline Manager.

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