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A leopard will wait a week to catch its prey, so should a successful trader

by , 15 April 2013
A leopard will wait a week to catch its prey, so should a successful trader
Picture this…

There's a leopard lurking behind the bushes in a crouch position, waiting all day for just the right moment to pounce on its prey and bring the hunt back to its family.

Knowing it can outrun a buck, it still waits for a vulnerable and injured animal so it will have a higher probability of being successful with its catch.

Today, I'm going to tell you why the most successful traders in the world wait patiently to hunt down profitable trades and how you can use these techniques to be rewarded.
 
Just by keeping calm, patient and collected with your trading plan. 
 
Now let’s head back to the jungle… 
 
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Just like a leopard knowing it can outpace most animals, with a trading account, you can take advantage of every possible trade at any time. The problem is the costs to pay, emotions to handle and far too much movement in the market and which trade is worth hunting. 
 
During a hunt the leopard says, “I wait patiently for my setup despite how many animals are lurking around” so a successful trader should say “I wait for the profitable trading setup before I execute a trade”
 
So by learning the way of the leopard and waiting for the right opportunities, this can increase the probability of success as well as minimise your chance of ‘injury’. 
 

Three ways using patience can make you a successful trader

 

Successful trader tip #1 Become a trading predator and wait for the opportune moment to pounce

 
Once you’ve done your homework, identified your prey, and developed a consistent method of entering into a trade. All you need to do is wait for the price to reach its entry point.
 
You need to follow an automated set of prearranged rules which is devoid of emotion similar to the instinctual behaviour of our predator cat.
 
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Successful trader tip #2 Don’t fixate over your prey

 
When you enter into a trade it’s human instinct for temptation to watch your trades all day. This can distract you from your higher priorities you have in a day. 
 
By monitoring your trades all day you’ll eventually start to doub your position and probably be tempted to get out of your trade. 
 
Stop right here! 
 
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If you’ve put your stop loss level and take profit level, your successful trader strategy will be in place… 

 
So I’d suggest you take the day off and let the trade do its thing. At the end of the trading day, your results will be a lot more accurate by sticking to your trading setup levels and your rules. 
 

Successful trader tip #3 Don’t try and catch every potential prey out there just because they are plentiful

 
The best tip has been saved for last because I believe it’s the one you need to keep on your mind at all times.  I’d assume your trading strategy has a good performance rate where your winners outstrip your losers. 
 
If they are not, then I’d suggest you go back to paper-trading a demo account and build yourself a great trading system. The market isn’t going anywhere and will always have prey ready for you to pounce on. 
 
There are always opportunities in the market and it’s only necessary to catch the few that are conspicuous and within your reach. 
 
I have trading setups that can take an entire month to mature, especially in derivatives. But it’s very rewarding knowing that I keep strictly to my rules of engagement with the strategy.
 

Here‘s your final hunting skill you need know to set you apart from the pack 

 
By now I’m sure you’re ready to sink your teeth into a profitable trade. But you must remember to remain disciplined and patient, let your trading setups follow their course. 
 
If you’re tempted to get out of your trade, then take a deep breath and ‘time-out’ and go over why you entered into your trade to begin with. 
    
Remind yourself that your stop loss and take profit is in place from a strategic reasons and this alone will make you a great successful trader. 
 
Always keep in mind 
 
“Patience is a trader’s virtue”


A leopard will wait a week to catch its prey, so should a successful trader
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