I started a new category here called ‘Trading Psychology’ so that I can occasionally talk about aspects of trading that are more intangible. I can tell you with zero doubt that one of the most difficult aspects of trading that has challenged me time and time again is the tendency towards over trading when there really are not any good trades to be had.
That’s where patience comes in, and that is why I posted a picture of a cheetah in this post waiting in the tall grasses of (Africa?) to scope out its target and see if if can find something interesting to chase. I don’t know how long cheetahs wait in the fields before they scope out a target and attack. But I doubt they just run into the field paws flapping everywhere and then just chase and jump on the next moving zebra over the hill.
They take their time, they scope out a target, they are extremely patient. Heck most animals and pets I know of are very patient. Certainly not all of them are, but I would say most of them are. So it is not just cheetahs.
So most traders can probably learn a lot from the cheetah and most other animals and pets. Try to avoid rushing to find a trade during the trading day, and then in panicky fashion buying something because it ‘looks good’.
