What does patience look like in practice?
"Be patient" is advice without instructions. The practical version is specific: a watchlist, defined setups, alerts, and something else to do while waiting. Patience is designed, not felt.
Describe your patience system:
- the tools and rules that keep you out
- what you do while waiting for a setup
- the moment patience became automatic
The order types guide shows how pending orders let the market come to you.
Background: Market, limit and stop orders: which order type to use
The order types on a trading platform decide when and at what price you enter or exit. What each one does, and the mistakes that cost traders money.
What is the difference between a buy limit and a buy stop?
A buy limit is placed below the current price to buy on a dip. A buy stop is placed above the current price to buy if the price breaks higher.
Does a stop-loss guarantee the exit price?
No. A standard stop-loss becomes a market order when triggered and can fill beyond its level in a gap or fast market. Guaranteed stops, where offered, cost extra.
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