Kardec Trader explains why patience matters in trading: only a few days each month offer high-quality setups. Taking bad trades costs money and kills your confidence for the good ones, so sitting out is part of the strategy.
Out of 20 trading days a month the market will give you four or five good trading days. I want to be there when the big days happen. My setups happen. I want to execute those setups. That requires you to have patience. That requires you to sit on your hands. That requires you to show up to the market and be like okay there's nothing today. I sat here for three hours. I didn't make a dollar but I'm cool with it. Why? Because my mental capacity is important to me and my financial capacity is important because now I go tomorrow and let's say tomorrow there's no setup and I blow 10k 20k. Now not only did I lose 10, 20k I also destroyed my mental confidence. So now the next day when there is a setup I'm not going to execute it because I lost a 20. I'm scared of hesitant. So I destroyed the good trading day because I took a bad trade on a bad.
