Patience is key in successful trading from "summary" of Reminiscences of a Stock Operator by Edwin Lefevre
Trading successfully requires a level of patience that most people simply do not possess. It is not about making quick decisions or chasing after every opportunity that comes your way. It is about waiting for the right moment, the right opportunity, and then striking with precision. The market is a fickle beast, and if you are not patient, it will eat you alive. Many traders make the mistake of jumping into trades too quickly, without fully understanding the risks involved. They see an opportunity and they want to capitalize on it immediately, without taking the time to fully analyze the situation. This impulsive behavior can lead to disaster, as the market has a way of punishing those who act without thinking. Inexperienced traders often let their emotions get the best of them, making decisions based on fear or greed rather than logic and reason. They panic ...
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