Link: Patience, Art of Intelligent Waiting
Laurus

Thanks Laurus,

the link to the article has changed, here is the updated URL

There's a trading book I read a while ago. It wasn't of much value to me, except for one sentence. That sentence was about patience and discipline and how both need to be trained and grown like muscles.

One of the challenges I face is, if I look at the screen for too long, I start seeing things that are not there, which is dangerous because it produces useless trades.

So to mitigate that I tend to regularly switch between the trading screen and other stuff. On the pro side, that helps with the problem above. On the con side, I miss some sudden price action that may present opportunities.

Anyone else working on this?

About 4 years ago I was working on a name for my trading business and had a long list of them I would bounce off my wife for approval.....lol.... Chief among them was Patient Trader. But my wifey poo put the kibosh on that one. She is and has been in Pharma for about 18 years and everything they do is patient focused so that word means many things to her and represents, basically, a ton of work. So it was a no go. Ended up with Lucrative Trader. Because as we were dating, she was 16 I was 21, once in line at the cash station, the car ahead of us had a license plate that said "IBULDEM" a convertible and she said to the guy " Must be lucrative" and this was the first time I had heard the word lucrative (can you believe it?????...I can't...lol...what a dummy....lol) so as soon as she saw this as a name choice on my list 4 years ago she said "this is the one".

I have been wanting to start a thread on similar topics. So yes I work on these types of things. It's really the complete focus of what I do in trading and absolutely believe it is the only thing even close to the "Holy Grail".
Been working on these, on myself, a great deal. Have not traded, actually had a position in 11 months. But am constantly working on all parts of this business and me. Which I view as one and the same. I see my analysis play out sometimes and it's hard but I tell myself "patience Ron". Almost done. My trading will start back up in May. Working on many things and will post my trade plan in my Journal soon. Updating my vision board etc... Also had many house projects, most chronicled in my journal with pictures.

Ron

Wow. Thanks Ron. Yes, I can see why 'Patient trader' could be interpreted as something to do with healthcare... lol ... Lucrative Trader on the other hand is way more badass... but it require patience neverthelss I think...