Patience: Trading Psychology Made Easy

by LR Thomas

Why You Need to Read ‘PATIENCE’
‘PATIENCE’ is the latest in the series of ‘Trading Psychology Made Easy’ books.
A recent reader survey demonstrated that one of the biggest trading psychology issues that traders face, is related to their own inability to just sit and wait for the best time to take an action, whether that be to enter a trade, move a stop loss, or wait for the planned take profit target.
This inability to simply wait, leads to entering trades when there are no trades to take, (over-trading), exiting trades too early without allowing them time to develop, and exiting trades before the take profit has been reached.
The profitability of the trading system is profoundly impacted by these types of behaviours and turns what is a money making system in theory into a loss-making system in the real life.
Lack of patience also causes other negative behaviours related to trading, such as not bothering to back-test the system, not keeping careful records and not doing an end-of-day or end-of-week analysis of trading results to find areas of improvement.
The feeling of ‘things not moving fast enough’ also causes traders to add too many trading systems to an already overloaded brain and not be able to focus properly on any one strategy to make it profitable.
The problem facing traders is that personal change can be hard and requires extensive inner work to change a person from impulsive and impatient to someone who routinely practices patience on a daily and hourly basis.
This little book follows the theme of the other related ‘Trading Psychology Made Easy’ books and aims to give traders a new way to look at trading which will naturally increase positive trading behaviours in an effortless way, by simply reframing the way trading is viewed in the trader's mind.
Additional simple yet powerful exercises are included at the back of the book to help make ‘lack of patience’ a non-issue in your trading performance.
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