Wednesday, August 24, 2011

Confidence and Patience

One needs to have confidence in oneself. It is easy to lose it and panic and sell off before things get realized. Even though one may be correct in analysis and the trend of the stock one may sell it too soon when there is no confidence and fear of losing in the very short term instead of waiting for the analysis to realize.

This is very important quality for a trader. Confidence and patience. Knowledge of trend is essential but one has to be confident. One should not be overconfident and go against the rules of trend analysis. That is dangerous but if one is sticking to the rules, then one should be confident.

Money comes to the confident, knowledgeable and the patient. Wow! 

No comments: