What skill do you most recommend other tigers must learn?

Tiger_comments
07-03
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In our previous discussion on Stock Trading: Do Talents or Skills Matter More?, most tigers believed that acquired skills are more important than talents in stock trading.

What do you think is the most important skill in stock trading?

  1. Some people think that getting market information promptly and understanding the timely changes in companies, such as $Tesla Motors(TSLA)$ Q2 data released yesterday, is very important.

  2. Others identify Tesla's successful breakout through technical analysis.

  3. Or, adhering to good trading strategies and principles.

  4. I think having a good mindset is very important because I always end up buying high and selling low, unable to resist the urge to chase high prices or the fear of further declines.

Apart from these, what other important skills do you think are essential for stock trading?

What skill do you most recommend other tigers must learn?

Leave your comments and also post to win tiger coins! $Tiger Brokers(TIGR)$

What Skill Do You Most Recommend Tigers to Learn?
In our previous discussion on Stock Trading: Do Talents or Skills Matter More?, most tigers believed that acquired skills are more important than talents in stock trading. What do you think is the most important skill in stock trading?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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Comments

  • AliceSam
    07-03
    AliceSam
    Win 10 Tiger-coins
    提高认知，多看，多想，多借鉴，走别人已经走过的路，好过自己独自开荒。
    我也认为有一个良好的心态非常重要，因为我总是高买低卖，无法抗拒追高的冲动或对进一步下跌的恐惧。
  • Success88
    07-03
    Success88
    Win 10 Tiger-coins
    The one and only skill is patience and will lead you to success. When stock drop don't faster sell. Just wait and it will go up. @Tiger_comments @SR050321 @HelenJanet @MHh @Fenger1188
  • Mrzorro
    07-04
    Mrzorro
    Win 20 Tiger-coins
    I think discipline and patience are two very important skills that are essential for stock trading. Staying in the game is important because it allows you to experience both the highs and the lows, learning from them and making the necessary adjustments to your trading. Another skill I want to recommend other tigers must learn is Keeping a trading journal and regularly reading back through it provides one of the quickest and easiest ways to identify both what you’re doing right and what you’re doing wrong.
  • icycrystal
    07-04
    icycrystal
    Win 15 Tiger-coins

    risk management is a very important factor. others include patience, discipline, checking emotions, and being contend (don't be too greedy as it can be dangerous if trading aggressively, not taking profits when you should).

    @koolgal @GoodLife99 @Universe宇宙 @rL @HelenJanet @LMSunshine @Shyon @Aqa @SPACE ROCKET @TigerGPT

    Apart from these, what other important skills do you think are essential for stock trading?


    What skill do you most recommend other tigers must learn?


    Leave your comments and also post to win tiger coins!

    • icycrystalReplyShyon: 
      [Like] [Like] [Like]
    • Shyon: 
      Absolutely agree
    • TigerGPT: 

      As an AI financial analyst, I believe there are several important skills that are essential for stock trading. Here are a few additional skills that I recommend other traders to learn:

      Research and Analysis: The ability to conduct thorough research and analysis is crucial for successful stock trading. This includes analyzing financial statements, understanding market trends, and staying updated with relevant news and events.

        

      Risk Management: Effective risk management is key to protecting your capital and minimizing losses. This involves setting stop-loss orders, diversifying your portfolio, and managing position sizes based on your risk tolerance.

        

      Technical Analysis: Learning technical analysis can help traders identify patterns and trends in stock price movements. This skill involves studying charts, using indicators, and understanding support and resistance levels.

        

      Fundamental Analysis: Fundamental analysis involves evaluating a company's financial health, including its earnings, revenue, and competitive position. This skill can help traders identify undervalued stocks and make informed investment decisions.

        

      Emotional Control: Emotions can often cloud judgment and lead to impulsive trading decisions. Developing emotional control and discipline is crucial for maintaining a rational and objective approach to trading.

        

      Continuous Learning: The stock market is constantly evolving, and it's important to stay updated with new strategies, tools, and market dynamics. Continuous learning through books, courses, and staying connected with the investment community can help traders adapt and improve their skills.

        

      Among these skills, I believe that risk management is the most important skill for traders to learn. By effectively managing risk, traders can protect their capital and ensure long-term success in the market. Remember, trading is not just about making profits, but also about preserving capital and managing losses.

  • Shyon
    07-04
    Shyon
    Win 30 Tiger-coins
    Few critical things you need to take note in order to become a successful trader.

    1. Discipline
    This is the most important criteria that you need to practice during investment. Remember to plan your trade, and trade your plan!

    2. Protect your modal and risk management
    It's important for you to have some risk management during your trade. Cut loss if something is going wrong and no longer align with your investment objective.

    3. Basic fundamental and technical skills
    It is always good to have some basic fundamental and technical skills that will be very helpful for you to seek a suitable entry or exit point during your trades.

    4. Never FOMO
    Never be dear of miss out especially in those meme stocks with crazy rally. Most of the investors end up losing money in these stocks.

    5. Emotion management
    Never let trade affect your daily mood, no matter your holdings rally or plumnet.

    How do you think? [Happy]
    @Tiger_comments @MillionaireTiger @CaptainTiger @TigerStars @TigerGPT

    • BarcodeReplyShyon: 
      Thanks for the tag 🏷️ 😀
    • Shyon: 
      Come and join the discussion guys @koolgal @rL @icycrystal @Universe宇宙 @b1uesky @Barcode @SPACE ROCKET @GoodLife99 @Fenger1188
    • TigerGPT: 

      As an AI financial analyst, I agree with the points you mentioned about becoming a successful trader. Discipline, risk management, fundamental and technical skills, avoiding FOMO, and emotion management are all crucial aspects of trading. In addition to these, there are a few other important skills that I recommend other traders to learn:

      Research and Analysis: Developing strong research and analysis skills is essential for making informed investment decisions. This includes analyzing financial statements, understanding industry trends, and evaluating company fundamentals.

        

      Risk Assessment: Being able to assess and manage risk is vital in trading. This involves understanding the risk-reward ratio of a trade, setting appropriate stop-loss levels, and diversifying your portfolio to mitigate risk.

        

      Continuous Learning: The stock market is constantly evolving, and it's important to stay updated with the latest market trends, news, and investment strategies. Continuous learning helps traders adapt to changing market conditions and make better-informed decisions.

        

      Patience and Discipline: Patience is key in trading. It's important to wait for the right opportunities and not rush into trades based on emotions or market hype. Discipline helps traders stick to their trading plans and avoid impulsive decisions.

        

      Money Management: Effective money management is crucial for long-term success in trading. This involves setting realistic financial goals, allocating capital wisely, and managing position sizes to protect your portfolio.

        

      Technical Analysis: While fundamental analysis is important, understanding technical analysis can provide valuable insights into market trends, support and resistance levels, and potential entry and exit points. Learning technical analysis tools and indicators can enhance your trading decisions.

        

      Remember, trading involves risks, and there is no guaranteed strategy for success. It's important to conduct thorough research, seek professional advice when needed, and always trade within your risk tolerance.

  • MojoStellar
    07-04
    MojoStellar
    Win 20 Tiger-coins
    thank you, @Tiger_comments, for this event. Through my experience,  I took up lessons on key skills like financial analysis and technical analysis, risk management, and emotional and decision-making. These skills are the foundation of the first step. Then, communities like tiger brokers and etc. There's risk in any investing. Therefore, I mentioned risk management and emotions. If you really lost money, listen to relaxing music, chill 😎https://youtu.be/y2VAULbCLfQ (I bet mood turned better)  @TigerEvents @Daily_Discussion @Emotional Investor @vodkalime @HelenJanet @GoodLife99 @ahyi
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