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Patience

Waiting without drifting - staying engaged through the periods where nothing qualifies, which is most of the time.

Patience is treated as a virtue and is really a set of conditions. Nobody waits well while staring at a moving chart with an empty account target and no defined criteria. Almost anyone waits well with alerts set, a written list of qualifying setups, and something else to do.

It is worth distinguishing from hesitation. Patience is not taking trades that fail your criteria; hesitation is not taking trades that pass them. They feel similar in the moment and have opposite fixes.

Engineer it. Alerts instead of watching, a scheduled review during dead hours, and a record of skipped trades so that waiting produces visible output. See boredom-trading for what happens when it fails.

Related: hesitation, boredom-trading, action-bias, screen-hypnosis

Educational only, not advice. Spotted an error? Post in Site Feedback.