Why You MUST Master Patience & Discipline When Trading Stocks

Thanks Sasha, excellent and very helpful.

Sick video!

I love your smoothing delivery of your advice

Yup that sounds like me when I got burned didn't lose much thank god, now I'm just playing with my dummy account.

i'm gonna watch this every morning.

great vid, tks a lot

This is so true everytime i jumped the gun i got smoked, when i was following my rules! I was banking

Preach brotha.! So true

"sit down, sit down on your bottom…" lol

really good video. Like all your videos. Good job

When I started day trading I used to chase a lot every time ended up loosing . Still I remember GILD,BABA Chase

Honestly speaking, you are truly an eye-opener!. Just can`t thank you enough!. Recently, i got a tempted to trade intraday for the past 10 days, when i had applied leave at work for medical reasons. The first week, i struggled, gambled and risked all the leverage and made over 50% profit. The next week (last week), i started feeling like this was my last week to trade intraday and i should make all the money i can ever make on intraday and so i started looking 5 different stocks from varied sectors. My first trade i lost 10% of my balance. I wanted to recover and bring it to positive and see at least a little green. So, i traded massive quantity in another stock the same day`s afternoon session. That took 30% more of the balance. I just put a brake for the day and went into a depression state and wondering how i`m going to recover such a huge loss. I worked out the best stocks in the evening and the next day morning i made up my mind to buy the stock i had worked out. But an hour passed and that stock didn`t move much. So, i lost my patience and traded a different stock and lost another 20% of my account balance. I was devastated when i learned that the stock i actually did some research on and picked last evening had crossed 5.00%. My account balance had halved. And then i figured there was so much noise in the intraday charts. I switched from 2 minutes to 5 minutes and then 15 minutes and then 30 minutes and finally 60 minutes. The problem was that the higher the timeframe, the more choppy it got. What i understood from this was that i was trading a very choppy sideways market on the bigger timeframes. 

Since yesterday, i had made up my mind never to trade smaller timeframes, how much ever tempting it looks and also never use leverage EVER!. I can now clearly see that the higher timeframes have better volumes and we get a sense of direction much more easily and with negligible risk. Upon backtesting some of my old strategies, i found that trading on higher timeframes are extremely profitable in the long run as against intraday. 

And i should totally appreciate you for the video you posted about swing trading. That was totally inspiring just as all your other videos!.

Hard to find people like you on YouTube and also in real life. I feel so lucky to have subscribed to your channel.

Thank you Evdakov!.

Great video.  Without discipline and confidence in your trade its easy to let fear and greed influence your trade and loose your nerve.   Money is made by sitting, not trading. ~Jesse Livermore.  

So true.

Great video, thank you.

Can you make a video on different order types? And also a walk through of actually placing an order.. I noticed with different brokers there's slight variations with the terminology

Hahaha, didn't see this example coming, but is definitely great advice.  I caught myself in the beginning of my trading experience chasing momentum only to get bit.  Thanks for the videos as always. Brings me back to an even keel. 

Sasha,

Do you think if everyone knew how to trade and knew when to sit on their hands before entering a trade, that the technical patterns we study would be different?

For example… If everybody knew when to buy a breakout because a breakout is a confirmation that a trend is continuing, then there would be no sideways action or (consolidation) because all traders are waiting for the price action to grind up and break through resistance. If everybody is waiting for the same thing, then there will be no price action. <—- I hope you understand my example!!

Do you agree that the market needs uneducated traders to make the market a little more predictable? I would value your thoughts on this.