---
title: "Patience determines everything"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/41066864.md"
description: "Charlie Munger said: When you master the wisdom of staying in cash, learn to wait patiently, and only take decisive action in situations of extremely high certainty, without regret even if you miss some seemingly tempting market moves, then you already possess the ability to make a living from trading. At least, earning enough for basic sustenance is no longer a problem. As for whether you can soar higher, that depends on your personal insight and social circle. Decades of trading experience have taught me that this calm and composed mindset is the key to trading success. Munger said: "We succeed not because we are good at solving problems, but because we are good at avoiding them..."
datetime: "2026-05-23T06:42:34.000Z"
locales:
  - [en](https://longbridge.com/en/topics/41066864.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/41066864.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/41066864.md)
author: "[查理.芒果](https://longbridge.com/en/profiles/19217698.md)"
---

# Patience determines everything

Charlie Munger said: When you master the wisdom of staying in cash and learn to wait patiently, only taking decisive action when the certainty is extremely high, and not regretting even if you miss some seemingly tempting market moves, then you already possess the ability to make a living from trading. At least, earning a little money to cover basic needs is no longer a problem. As for whether you can soar higher, that depends on your personal insight and social circle. Decades of trading experience have taught me that this kind of calm and composed mindset is the key to successful trading.  
Munger said, "The reason we've succeeded is not because we're good at solving difficult problems, but because we're good at avoiding them. We just look for simple things to do. We make money by remembering the obvious, not by mastering the profound."