Patience And Probabilities.

Patience and Probability these are two words which are used most in trading world and often ignored by most of traders while trading. The reason behind this is, as simple these words are, it is difficult to follow them during trading. But these two factors are the key root pillars of successful trading and if any trader is not skilled in this, then he/she cannot be a profitable trader in long run.

Traders should wait patiently until they find a trade through their method and then wait patiently for either their stop loss or target. But the exact opposite situation happens with most of novice traders. They enter in a trade with greed and fear of missing out of a rally and ignore their method (if they have any) and enter into the market at wrong time and position. Here again, they rush to exit their position with partial profits or losses( most of time with losses) and quickly exit the trade.

The lack of patience spoils your probability of winning trades most of time or almost every time. The key root of trading is, we should find a trade only through our method and then find out the probability of success, if it is in our favor then we should proceed with the trade, if not then we should again wait until we find the good one.The concept of patience and probability is important for traders.