There's a phrase called "Heaven rewards the diligent,"

But in trading,
Heaven kills the diligent.

The more diligent you are,
The faster you lose.

I've seen too many people,
Staring at the market from the opening,
Not daring to blink for a minute,
Afraid of missing an opportunity.
By the end of the day,
Fees are more than profits,
Eyes nearly blind,
Accounts almost gone.

They are very diligent,
Diligently wasting effort in the wrong places.

The truth of this industry is,
Trading opportunities are scarce,
Not available every day,
Not every fluctuation needs to be caught.

The truly worthwhile trades,
Maybe one or two per week,
Three or five per month,
The rest of the time,
The more diligent you are,
The worse you’ll suffer.

So, where should that diligence go?

Use it for review,
Use it for learning,
Use it for research,
Use it for waiting.

Not for staring at the screen,
And definitely not for frequent trading.

Staring at the screen doesn’t create opportunities,
It creates impulses.
Impulses lead to trading,
Not to genuine trading,
But to gambling.

A trading friend once said,
"I look at the market for 5 minutes every day,"
"And I know whether to go for a ride today."

It’s not laziness,
It’s knowing,
When the opportunity doesn’t come,
Sitting all day is pointless.
When the opportunity arrives,
5 minutes is enough.

True experts,
Are not the ones who endure the longest,
But the ones who can wait the longest.

They know,
This industry isn’t about who does the most,
It’s about who survives the longest.

You rush in and out every day,
Making dozens of trades,
I make one or two trades a week,
After a year,
I’m still alive,
And you’re gone.

So don’t misuse your diligence.

Wait when you should wait,
Stop when you should stop,
Review with all your might when it’s time,
Don’t hesitate when it’s time to act.

That’s true diligence in trading.

It’s not staring at the screen until blind,
Not clicking until your hands are sore,
It’s knowing what to do and when.

In trading,
Diligent people don’t necessarily survive,
But those who know where to be diligent,
Will definitely survive.