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The Power of Patience
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by Rick J. Ratchford
"Our patience will achieve more than our force."
Edmund Burke, Reflections on the Revolution in France (1790) p. 205
I did not include the entire message since I'm sure you all read it.
I am in total agreement. This is the first thing people should read
upon entering the markets. Unfortunatly this sort of thing is usually
the last thing they read. After giving it a try. After winning on
the first try by beginners luck. After losing half or all the
trading capital. After buying or begging or stealing every trading
system that comes down the road. After investing in data and
charting software. Reading all the trading psychology stuff usually
comes after reaching bottom. It does not have to be like that but
it is. Most people usually give up at the bottom. All the extra cash
gone. I suppose that is what makes the ones that don't give up
wealthier. Thay say only 2% make it in trading. It is probably less
than that. They stuck it out......and get the rewards.
bob
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