As a trader, one of the most important qualities you can develop is patience. Patience is key to success in stock market (or forex & commodity) trading because it allows you to make calm and rational decisions. It also helps you avoid being emotional about your trades, which can lead to making impulsive and costly mistakes. When you are patient in trading, you give yourself time to research and analyze the markets before making any trades. This allows you to make informed decisions that have a higher chance of being successful. In addition, patience allows you to wait for the right opportunity to enter a trade, which can help you maximize your profits.
Patience in Trading Quotes
- “I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime.” – Jim Rogers
- “Much of our trading comes down to a battle between our patience and our impulses.” – Steve Burns
- “Have patience. Stocks don’t go up immediately” – Walter Schloss
- “I’ll tell you how to become rich: close all doors, beware when others are greedy and be greedy when others are afraid.” – Warren Buffett
- “Patience is the key to success not speed. Time is a cunning speculator’s best friend if he uses it right.” – Jesse Livermore
- “No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.” – Warren Buffet
- “Don’t test the depth of the river with both your feet while taking the risk.” – Warren Buffett
- “No profession requires more hard work, intelligence, patience, and mental discpline than successful speculation.” – Robert Rhea
- “It was clear to me that other people could trade for a living. And if it was possible for other people to do it. Then I could preserve long enough to figure it out.” – Rob Booker
- “The most important quality for an investor is temperament, not intellect.” – Warren Buffer
- “Trading requires skill at reading the markets and at managing your own anxieties.” – Ed Seykota
- “The most difficult task in specilation is not prediction but self-control. Successful trading is difficult and frustrating. You are the most important element in the equation for success.” – Linda Raschke
- “It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!” – Jesse Livermore
- “A 10% decline in the market is fairly common—it happens about once a year. Investors who realize this are less likely to sell in a panic, and more likely to remain invested, benefitting from the wealth building power of stocks.” – Christopher Davis
- “Traders and Surfers both have to deal with feelings of missing out on the small ones, until the big one comes along. They also have to deal with feelings of staying with the big one.” – Ed Seykota
- “The best chance to deploy capital is when things are going down.” – Warren Buffet
- “Careful timing is essential, impatience is costly.” – Jesse Livermore
- “Our favorite holding period is forever.” – Warren Buffet
- “Invest only if you would be comfortable owning a stock even if you had no way of knowing its daily share price” – Benjamin Graham
- “In the short run, the market is a voting machine but in the long run, it is a weighing machine.” – Benjamin Graham
- “Waiting helps you as an investor and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that.” – Charlie Munger
- “Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don’t be an impatient trader.” – Jesse Livermore
- “Money is made by sitting, not trading.” – Jesse Livermore
- “If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.” – George Soros
- “Focus, patience, wise discernment, non-attachment – the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.” – Yvan Byeajee
- “The hard part is discipline, patience and judgement.” – Seth Klarman.
- “And back in the spring of 1720, Sir Isaac Newton owned shares in the South Sea Company, the hottest stock in England. Sensing that the market was getting out of hand, the great physicist muttered that he “could calculate the motions of the heavenly bodies, but not the madness of the people.” Newton dumped his South Sea shares, pocketing a 100% profit totaling £7,000. But just months later, swept up in the wild enthusiasm of the market, Newton jumped back in at a much higher price—and lost £20,000 (or more than $3 million in today’s money). For the rest of his life, he forbade anyone to speak the words “South Sea” in his presence.” – Benjamin Graham
- “But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.” – Benjamin Graham
- “For investors as a whole, returns decrease as motion increases.” – Warren Buffett
- “It’s not what we do once in a while that shapes our lives. It’s what we do consistently.” – Anthony Robbins
- “Far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.” – Peter Lynch
- “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.” – Warren Buffet
- “There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time.” – Jesse Livermore
- “You don’t make money by trading, you make it by sitting. It takes patience to wait for the trade to develop, for the opportunity to present itself. Let the market come to you, instead of chasing the market. Chart patterns are very accurate. They have proven their accuracy and predictability time and time again, but you have to wait for them to develop.” – Fred McAllen
Related Posts in this Series
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25 Trend Trading Quotes by Famous Traders in the World