Why is patience necessary in forex trading?

[Aragon05]

Patience is very important in forex trading for several reasons. For example, since forex trading is highly volatile, with prices often rapidly and unpredictable movement, being patience in such condition crucial, patience trader wait for the favorable condition before trading, and this will prevent them from unnecessary losses.

 

[Kirubel]

True, patience is necessary in any online trading, if a person don't have good patency while trading online then they can lose all their moneys that they invest on trading, one little mistake could lead us to lose all our investments. both buying quickly and selling quickly have bad outcomes.

 

[Suba]

Often novice traders make transactions in doubt, whether they should wait for an opportunity or take a position, and transactions are carried out with emotion so they are not based on technical analysis and other analysis, and almost 90% of traders will lose. So traders must practice patience in various ways.

 

[Kirubel]

You are right, i also sometimes my inner instinct overcomes my technical analysis and i listen to my heart and make a decision without seeing the risks, some times things makes me scary to let run the opened trade for longer times.

 

[Goldynn89]

Controlling one's emotions like patience and greed helps you to avoid making expensive mistakes, selling where you're supposed to buy or buying when you're supposed to sell.

That's why some people don't trade lower time frames because it's more difficult to remain patient when you can see price fluctuate so fast.

 

[deucher]

Yes, it is very difficult because you sometimes have to wait for several days to get a good moment to open a position and many people do not know how to do this, I try to open an unprofitable position only in order to earn faster, but in most cases they only lose