Waiting well is an art form.
Ever get exasperated waiting? Maybe you need to picture something worth waiting for, or get in a better line.
Afraid if you wait any longer you will end up in a mess?
Is your chart telling you something and your mind looks like this:
Maybe you need to wait a bit longer. Trading is 95% or more waiting. Practice it. It can even be done once you already have a position.
A Drill to improve your ability to wait:
1) Go find a line and figure out what the fuss is about.
2) Find a security that it would be better to wait before you bought it. Wait.
3) Forget about the security and find another one that you are not ready to buy yet. Wait.
4) Think of something you can usually get without waiting and go get it.
5) If you aren't retired, think about how long it will be till you retire. Decide when you might want to do that, if ever. Decide to wait until then to retire, then start to wait.
6) If you are already retired, decide to wait a bit longer before you die, and wait. Decide to do something you enjoy and go do it without waiting.
7) Look at a stock chart and decide when the best buy would be. Don't buy it now, wait.
8. After buying decide when the best time to sell would be. Wait for that time and don't sell it until then. Use a stop loss or money management in case the price moves against you.
9. Reward yourself with a drink of something you like for finishing these steps, without waiting.
