What skill do you most recommend other tigers must 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?
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.
Others identify Tesla's successful breakout through technical analysis.
Or, adhering to good trading strategies and principles.
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! $Tiger Brokers(TIGR)$
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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!
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
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。
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When you spot an actionable setup, have clear and defined entry, stop loss, and profit taking levels.
Sometimes the trade goes against you and you get stopped out, thats fine, move on to the next set up.
Don't hold on to a losing trade and watch as your capital goes from 70% to 30% to zero.
Preserve your trading capital to stay in the game.
Otherwise it's back to flipping burgers 🍔
• 先多看看别人怎么做 [眼眼]，大咖前辈经验多听多读，自己也多了解了解，做了功课风险也相对的减小了 [正经]。
• 小试虎刀 [暗中观察]看得再多听得再多不下手试试也没用，何况现在买股用小虎app太简单了。每个月拿出一些闲钱(买衣服，零嘴，抽烟的钱)买些大家都在买的股票🍎🌍💻🛒......但如果是中概股不了解它的尿性就先不碰 [捂脸]。
• 如果实在懒得盯盘又想天天赚钱的就可以买些风险低基金了，毕竟我也是交了学费的 [笑哭] [打脸]。
1. **Analytical Prowess**: The ability to analyze charts and trends is crucial for making informed trading decisions.
2. **Research Acumen**: Staying updated with market information and economic indicators helps traders react promptly to new data.
3. **Emotional Control**: Maintaining composure and adhering to trading plans despite market volatility is vital for managing risk.
4. **Meticulous Record Keeping**: Keeping detailed records of trades aids in strategy refinement and accountability.
5. **Discipline and Patience**: Knowing when not to trade and waiting for the right opportunities can prevent impulsive decisions.
These skills, combined with a good mindset, can significantly enhance trading performance.
Also do not chase high and panic sell.
Always accumulate more prized stocks when market retract!
May the market be with you.
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Do not falter to herd instinct such as blindingly following the trend without proper research...
Also do not buy with borrowed money...
Be smart , be safe...