As someone in the trading game for 15+ years, I give a lot of trading advice — hey, that’s my job!
But there’s something about me that maybe a lot of you don’t know…
And that something reminds me of The Story of the Chinese Bamboo Tree. I’ll try to tell it as best I can:
Two farmers, Jin and Wei, lived in a remote village. Jin and Wei. The goal for each of these guys was to make money in their fields.
Jin was a skilled bamboo farmer. He planted young bamboo stalks, which, unfortunately, took years to grow strong and tall.
Meanwhile, Wei, who was eager to see results, planted peach trees. These trees were known for having quick-growing fruit.
Wei’s peach trees sprouted quickly, and within a few short seasons, his trees were heavy with sweet, ripe peaches.
He’d brag to Jin, saying, “Look at these trees! With just a bit of time, I have more fruit than I can even sell! And yet you wait for bamboo that only seems to sit idle.”
Jin, however, didn’t mind the comments…
He’d learned from his father that bamboo took time—sometimes years—to establish deep roots. Only then would the bamboo shoot up, strong enough to withstand storms, weather, and time itself.
So he waited, even as Wei’s peaches flourished season after season.
Then one year, the village was struck by an intense drought. The peach trees began to wither and die since their shallow roots couldn’t find water.
Meanwhile, Jin’s bamboo forest remained green. The thing is, bamboo roots grow deep and wide, anchoring them securely in the soil so that they can find moisture far below the earth’s surface.
When the drought passed, Wei’s peach trees were stumps, their branches long dead, but Jin’s bamboo stood tall and strong, unaffected by the drought.
As he watched the bamboo sway gently in the breeze, Jin was grateful for his patient. Now he had an entire forest to harvest and use.
In fact, his bamboo became the backbone of the village, used to rebuild homes and repair walls damaged by storms and neglect.
And Wei, too, learned a lesson.
He replanted with patience, choosing crops that would last through both the sunny seasons and the hard times.
The villagers always spoke of Jin’s bamboo forest as a symbol of patience, resilience, and the wisdom to let things grow deeply before expecting a reward.
So, what does this story have to do with me?
As most of you know, I’ve been a successful trader for a long time now…
And I’ve used all of the lessons I’ve learned over the years to mentor new and seasoned traders alike, something I love doing.
But the truth is, when I first got started, I struggled for three solid years. I made no money during that time…nada.
What I first learned during that time was what not to do.
I watched the same people make the same mistakes over and over again because they didn’t want to focus, study the data, educate themselves, and do the due diligence required for success.
I decided I was not going to be one of those people.
I knew I had to be patient and disciplined and do the extra work to build a strong foundation before I could make money…much like Jin and his bamboo forest.
My viewers heard about all of this during my Premarket Prep last Thursday (okay, not the bamboo story).
And that’s because I want everyone I teach to really understand how patience pays off in trading.
Table of Contents
Patience, Hard Work, and Discipline
When it comes to trading, everyone’s chasing the next big move, right? The excitement, the quick decisions, the idea of “striking while the iron’s hot.”
But here’s the thing: trading is far less about speed and more about timing. And if there’s one often overlooked trait that separates the winners from the losers, it’s patience, hard work, and discipline.
I know none of those words come to mind when you picture a successful trader making big moves. But time and again, in my own experience and in the stories of countless traders, that’s what stands between impulsive mistakes and real success.
Patience: Waiting for the Right Setup
Patience is the backbone of any good trading strategy.
In trading, jumping on every stock that moves or reacting to every little bump can lead to costly mistakes. Waiting for the right setup—the perfect pattern, volume spike, or confirmed breakout—gives you the edge.
When you’re patient, you’re more likely to enter high-probability trades, ones that truly align with your strategy and maximize your potential gains.
Discipline: Sticking to Your Plan
Discipline is where most traders stumble. It’s all too easy to get caught up in the excitement of a fast-moving market, chase after every new shiny thing, and abandon your trading plan.
Do you have a trading plan? Watch my video to learn how to build a great one.
Having the discipline to follow your rules, cut losses quickly, and avoid impulsive trades protects your account over the long haul. Consistency in your actions builds success.
Hard Work: Building Knowledge and Skill
Finally, there’s no substitute for hard work in trading.
The market rewards those who put in the time to study charts, understand fundamentals, and constantly learn from their trades—both the wins and the losses.
No trader becomes a millionaire, or even close to that, overnight. Take me, for example! If you think that way when you start out, you won’t last long.
And hard work isn’t just about studying; it’s about refining your approach, analyzing what works, and adapting to ever-changing market conditions.
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Timing the Market vs. Time In the Market
One thing you have to understand is that timing isn’t about constantly being in the market. It’s about waiting for the right setup, the perfect conditions where the odds are stacked in your favor.
Successful traders don’t jump on every stock that moves or react to every little bounce. Instead, they patiently wait until all the factors they’re looking for align.
A good strategy to practice when you’re new is the “two-day rule,” where you wait two days after you think you should enter a trade, to see if it still makes sense.
I know it sounds crazy and it’s really hard to do, but it can help confirm if the trade has legs…and save you from a potentially dangerous impulse move.
In time, you’ll train your mind to crave that confirmation, not just the action.
Patience Helps You Ride the Winners
Patience isn’t just about when to enter a trade; it’s also about knowing when to stay in one.
The biggest profits don’t come from taking tiny gains here and there but from holding your ground when a stock has momentum. If you’re willing to wait for the right entry, you’re more likely to capture the right exit, too.
My Final Thoughts…
I get it. Holding back can feel counterintuitive, especially when the market is moving fast and everyone seems to be making gains. But sticking to your setups and having the confidence to wait builds lasting success.
When patience, discipline, and hard work come together, they create a powerful foundation for trading success.
It’s not glamorous, but in trading, the steady approach always wins.
And that brings me to the story of The Tortoise and the Hare…😉
Have a great day, everyone. See you back here tomorrow.
Tim Bohen
Lead Trainer, StocksToTrade
P.S.
Jack Kellogg, a trading prodigy of my colleague and fellow trader Tim Sykes, will go live on Wednesday, October 30th, at 8 p.m. Eastern for an emergency election briefing.
“There will be winners and losers…” warns Jack.
“And if you’re trading popular election stocks now, YOU could regret it for the next 4 years.”
You don’t want to miss this because that night Jack will be giving away a FREE ELECTION TRADE IDEA that could soar no matter who wins.
Don’t get left blindsided!