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How to master the art of patience as a Forex trader?

Let me ask you a question: How successful would you be right now if you had sticked to your long-term plans for the last 5 years?

Probably very successful!

Personally I have given up too early on countless projects which would have been very rewarding on the long haul.

So much that I have started to experiment with some methods to become more patient!

Here are 3 tips that are working for me right now…

1. Always keep the end result in mind

We all know what we need to do in order to become successful.

Let me rephrase that: YOU, as everyone else, know what you need to do in order to become successful.

So why don’t you do it?

Because it takes time and efforts. Because you easily get distracted from your plans by the latest shinny object…

We all do.

What is the solution?

Simple: Always remind yourself why you need to stick to your plans.

I don’t mean to think about it once in a while…

I mean to write your financial goal on a sheet of paper, along with the precise strategy you are intending to use to get there and TO READ THIS SHEET OF PAPER OUT LOUD, EVERY SINGLE DAY, ONCE IN THE MORNING AND ONCE IN THE EVENING.

By doing so, you will constantly remind yourself WHY you are doing all these efforts. And you will greatly improve your chances to actually stick to your plans until you reach your goals.

Worth mentioning: this is not some “Secret” BS…

Reading the paper alone won’t get you far. You have to TAKE ACTION too!

2. Set yourself time limits

The more you stay in the markets, the more trades you will take and the less selective you will be.

At SurfingThePips.com we suggest you never spend more than 5 hours per day in the markets. And less is usually even better (like 2 or 3 hours).

Isn’t it easier to stay patient and selective for 2 hours than it is for 10?

3. Understand there will always be opportunities

Why is it so hard for us, Forex traders, not to leave the market?

Because we think we might just miss on THE opportunity to cash in!

This, as with much Forex related issues, is a mindset issue.

The truth is: there always will be fantastic opportunities in the markets.

Always.

As the market is constantly moving up and down, you don’t have to be worried about missing one trade. The next one is just around the corner…

By understanding there is plenty of money for everyone and at any time, you can disconnect without remorses when your time is up as well as only carefully select your trades when in the market.

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