I agree that patience is key, but there are such a myriad of beliefs and lack there-ofs that perpetuate it. Very hard to do it any justice with mere words... Why don't you get the ball rolling professor
======================== The polar bear, Ursus maritimus, is the largest carnivore on earth and is known as the "King of the Arctic." Twice as big as lions or tigers, a typical adult male weighs a thousand pounds and approaches five feet high at the shoulder. Polar bears live in the more than eight million square kilometers of circumpolar land and frozen sea. They can run about thirty miles an hour in a smooth, flowing gait, and are able to swim nonstop for a hundred miles by using their front paws as oars. Although adults usually dive headfirst into the water, they will slide in back feet first when stalking prey. The polar bear's favourite food is seal meat, but they will also eat other animals as well. One of the reasons why polar bears are such good hunters is that they have extremely sensitive noses. Believe it or not, they are able to scent and locate potential prey at a distance of over 20 miles (32 km)! There are a number of ways that these clever bears can hunt for food: The polar bear will bury himself in the snow near his prey and then cover his conspicuous black nose with a paw. When the animal gets close enough, the polar bear will burst from his hiding place and chase down the target. Patience is definitely one of the polar bear's virtues. A polar bear will stand or lie motionless near a seal's breathing hole for hours, sometimes even days, waiting for the seal to surface. When the seal comes up for air, the polar bear will whack it with his one-foot-wide paw, breaking the seal's neck with one blow. Another technique that polar bears will use when hunting seals is to dive into the water from about twelve hundred feet away, and then swim under the ice toward the unsuspecting seal. Coming up for air at seal holes along the way, the bear will patiently work his way toward the seal over the span of half an hour, and then suddenly attack when he is close enough to catch the seal. Polar bears have developed a clever ruse to overcome the fact that seals will not return to a lair that seems to be changed or damaged. The bear will carefully dig a hole into the seal's lair and then stick his head in it, thus preventing light from getting in and giving the seal the impression of an undisturbed lair. When the seal surfaces in the lair, the bear kills it. ========================
One thing I know from my own experience, is that all attempts at "forced" patience or conscious attempts to apply what I conceptualized as patience -- were in vain. Being overly self-conscious about the process of trading, especially while in the midst of action, never served to do me any good... Patience that comes on its own accord through understanding and years of experience is the truly valuable kind. ahhh teach us to care and not to care -- teach us to just sit still
patience can be taught and practiced. like success, it doesn't just come by itself. Some people might be more naturally patient than others. A dog can be taught to withhold action. How much more a human.
Is there really such a thing as "witholding" action? For arguments sake though, even if one could somehow break the pendulum of our condition and "with-hold" action -- wouldn't this sort of patience be artificial? I wonder if this would even be real-true-genuine patience at all??? Professor Dark would you care to share your thoughts???
I agree... there is a difference between straining and non-straining... 'holding yourself back' is a form of internal conflict that can be very draining. (Hey, it stopped raining.) While straining can get the job done, it's far better to move toward the point of non-straining, where you are happy and comfortable sitting still simply because you know it is the proper course of action for the moment. When your knowledge and your desires are properly integrated, there is no internal conflict. Some who think they are impatient actually have a different problem: they can't tell the difference between a solid opportunity and a poor or mediocre one, or their method itself is sloppy and does not define opportunities with a high enough degree of precision. This of course is a skill and experience issue rather than a psychological one.
dark and J bring forth some great points on the metaphysical edge, however paitence as related to trading can be feigned and is just as effective as "true" paitence. all the best, surf
Like Groucho said, "if you can fake sincerity you've got it made." I agree it can be done Surf, it's just a tougher row to hoe when you have to fight against yourself. And if you have to hold back a burning desire to act when you know the time isn't right, doesn't that suggest something is off in the first place? p.s. re lucky man sig, is that a quote from the Verve?