It’s better to be out of a trade and patiently waiting and wishing to be in, than to be in a trade impatiently waiting and wishing to be out!

The problem with human beings is they want what they want when they want it.

The concepts of delayed versus instant gratification are undoubtedly one of the most important choices that separate rich thinking from poor thinking. It certainly is the difference between success and failure in trading.

Patience and delayed gratification are some of your greatest assets to becoming successful. Impatience means you will need to trade at least twice. The money lost due to the lack of patience forces you to make multiple trades that may or may not work out, and eventually you lose time and more money.

Impatience at trading is a bad habit that takes money out of your trading account. So it is better to be out of a trade and patiently waiting and wishing to be in, than to be in a trade impatiently waiting and wishing you were out!

Patience in trading is the ability to do the following:
• Sit back and patiently wait for the TNT Index to reach your Strike Zone Level without experiencing anxiety, tension or frustration.
• Let go of your need for immediate gratification.
• Accept your human imperfections and frailty in your trading process.
• Committed to learn how to trade with calm, calculated, and considerate actions.
• Find people who can help you, and hang on to those relationships.
• Feel peace, contentment, and satisfaction that you are on the path of financial recovery or growth.
• Curb your enthusiasm, energy, exuberance, and excitement after you have experienced a winning trade. Do not become overconfident, for pride comes before a fall.
• Accept that there is no need to rush in this learning curve, that overnight reformations rarely last long, and that gradual change and growth have a greater durability, give yourself 1 to 3 years to master your investment skills. Remember, this is not a sprinting race, this is a marathon.

Traders who can develop patience while trading can ultimately achieve what they want. 
“One moment of patience when trading may ward off great disaster or financial loss. One moment of impatience may wipe out your trading account and destroy your attitude, not allowing you to be emotionally prepared for the next trades.”