Lesson From Day Trading
Of all the lessons I learnt from trading, perhaps “Patience” was the most difficult.
For a day trader, waiting for an opportunity can be distressing. Waiting for one hour during an active session is a long time, a whole day burns like eternity, a whole week makes you wonder “what’s gone wrong”. Whilst trying to keep in tune with the market, seeing the price moves, but refusing to take part until you see the edge, or until the market comes to you – that wait is the hardest. So thankfully we can set the alert and walk away. At such time, a day trader becomes highly vulnerable. During this siesta, the trader is unlikely to keep abreast with events that unfold when he is away. An opportunity that later appears may trap the trader when a previously low lying event suddenly rears its head.