Trading Rules - Patience

1. Be patient. If a trade is missed, wait for a correction to occur before putting the trade on.
2. Be patient. Once a trade is put on, allow it time to develop and give it time to create the profits you expected.
3. Be patient. The old adage that “you never go broke taking a profit” is maybe the most worthless piece of advice ever given. Taking small profits is the surest way to ultimate loss I can think of, for small profits are never allowed to develop into enormous profits. The real money in trading is made from the one, two or three large trades that develop each year. You must develop the ability to patiently stay with winning trades to allow them to develop into that sort of trade.
4. Be patient. Once a trade is put on, give it time to work; give it time to insulate itself from random noise; give it time for others to see the merit of what you saw earlier than they. 
5. Be impatient. As always, small loses and quick losses are the best losses. It is not the loss of money that is important. Rather, it is the mental capital that is used up when you sit with a losing trade that is important. 
6. The final 10% of the time of a bull run will usually encompass 50% or more of the price movement. Thus, the first 50% of the price movement will take 90% of the time and will require the most backing and filling and will be far more difficult to trade than the last 50%. 
7. After the first hour it is much easier to go with the flow of the trend for that day than to try to fight it. Piggy back HFT instead of fighting them as they ramp in one direction.