Learn to Wait

This week we are looking at Learn to Wait.

Learning to wait is one of the hardest parts of investing. It is waiting for opportunities to come to you rather than buying or selling out of fear or greed.

Every investor MUST have a plan, a reason for buying and selling if they want to rely on more than success based upon the general market direction. If you have a plan to buy and sell you have rules. If you have rules you have criteria. If you have criteria it means that not all investments all the time are going to fit into your criteria.

The trick is waiting for the investments to line up with your criteria. It is not easy to wait and it is necessary. Patience is part of an edge in the markets allowing you to only take the best opportunities according to your own criteria.

Waiting is letting go of FOMO. Waiting is letting go of the thought that there is limited opportunity. Waiting is following a plan. Waiting is the realization that controlling risk has much more to do with unknown outcomes than having a bias of market direction.

Waiting is the skill that allows you to hunt for opportunities. Waiting is an edge in the markets. Waiting allows the markets to come to you rather than chasing them. Waiting gives you the upper hand.

The skill of waiting is one of the most important attributes of taking advantage of opportunity.

Bottom line is…luck is when patience meets action.