TradersCALM - Patience Concept © "Dedicated to trading with good feelings."                                  All services are free.
	Patience is the art of waiting for the inevitable waves of change to offer their opportunities before you. The arbitrageur benefits from waiting.     She sees the price get 5 points out of line from fair value and takes out a small spread.     Despite her efforts, the prices become 10 points adrift then 15 points, each 5 points she takes another position.     When it gets to 20 points out of line she may commit to another spread - perhaps consuming half her capacity.     Here patience paid off - with better positions and so more profits at expiry or earlier.     The very nature of arbitrage requires patience.     For cash and futures on the same underlying it might be required to wait until expiry for her to realise her profit. So also does the stock accumulator employ patience.     He may have to buy many times into a fall - wait many months for the price 'trend' to reverse and for his accumulation turn into distribution.     His profits are, to a degree, proportionally related to his patience. So where does this patience come from?     Possible answers can include:                         • experience,                         • calm confidence,                         • viewpoint of repeated service. Tell me some techniques for becoming more patient		Welcome Self Assessment Links Inner Tendencies What's New Contact Us CALM Secrets Tip of the Week Risk of Ruin