I admire your patience...

Each one of us is daily bombarded by our inner self

"Why are you always impatient?"

"Why did you book profit so early?"

"Why couldn't you wait before booking loss so early?"

"Why didn't u wait......bla bla bla...!!!"

We punish our poor soul for this illusive "patience".

Every time we feel like a stupid who didn't have the nerves to wait!

I admire your patience...of bearing this emotional atyachaar!

I want to console all such injured souls who have been mercilessly tortured.

One of my psychologist friend (who trades as well) helped me in understanding why we poor chaps have so less patience!

He told me that

Patience in trading depends on

1) the amount of the bet

= the more the size of the bet in proportion to your net worth, the lesser the patience.

2) the confidence of the trader

= experts have better understanding of what is happening and what is going to happen.

3) the risk reward ratio

= lesser the risk as compared to the possible reward, more the patience!

4) the fierceness of the dog behind your car!

(i.e. the reason of the urgency of earning)

= the smaller the reason, more the patience!

for example, is it the borrowed money you are trading with?

are you trading to make up for the financial mess you are in?

are you trading to become rich fast?

are you trading to recover your losses?

are you trading after having inflated your ego with the previous profits and think you have become King Khan of the market?

5) the distance and size of the exit door

= a stop loss increases the patience