Do you despise waiting in line? Are you constantly in a race against time? Patience is defined as calmness, self-control, and willingness or ability to tolerate delay. 

I took an online patience test yesterday because I was curious of how I compared to the norm.  My score was 48/100 which put me surprisingly in the middle.  I'm mentioning this because over the past couple of months, I have made a conscious effort to improve my patience as it relates to trading.  I remember the days when I was trading too much.  I would trade at all hours of the day and many times just to be in the market.  I didn't have the patience to wait for a setup and would jump to conclusions or assumptions before the setup materialized.   Sometimes I would actually win but many times I would also lose.  The biggest issue with my impatience was that it formed some really bad habits.  I am now just starting to fix them.  

Part of my "therapy" was to set a realistic monthly goal of 260 pips.  260 pips don't sound like a lot over a month's time and there is the possibility of making this on 1 trade.  I felt that setting a daily or weekly goal only contributed to overtrading.  For example, it is Wednesday, July 5th and I have yet to make a trade in the month of July.  If I had a 60 pip weekly goal, I might have felt forced to enter the market this week just to reach that goal.  Instead, I don't care if I trade this week or not.  I still have 18 trading days left to reach my monthly goal.

Want to test your patience?   http://www.queendom.com/tests/minitests/patience_access.html