Patience is essential in forex trading as it involves waiting for the right opportunities to arise. Traders need to be patient to identify and analyze market trends, develop and implement trading strategies, and wait for trades to reach their target levels. Impatience can lead to impulsive and emotional trading decisions, which can result in significant losses. Successful traders understand that the forex market can be volatile and unpredictable, and it takes time and patience to navigate it successfully. They also know when to be patient and when to act, based on their analysis of market conditions.