What skill do you most recommend other tigers must learn?

Tiger_comments
07-03

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?

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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  • AliceSam
    ·07-03
    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。
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  • Success88
    ·07-03
    TOP
    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
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    • Success88: 
      Thank for your insight
      07-04
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    • SR050321: 
      Agree with you 👍
      07-04
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  • Mrzorro
    ·07-04
    TOP
    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.
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  • icycrystal
    ·07-04
    TOP

    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!

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    • icycrystalReplying toShyon: 
      [Like] [Like] [Like]
      07-04
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    • Shyon: 
      Absolutely agree
      07-04
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    • 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.

      07-04
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  • Shyon
    ·07-04
    TOP
    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

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    • BarcodeReplying toShyon: 
      Thanks for the tag 🏷️ 😀
      07-05
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    • 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.

      07-04
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  • MojoStellar
    ·07-04
    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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  • Tiger_comments
    ·07-04

    Thank you for commenting on my post.

    Your coins of this post and Stock Trading: Do Talents or Skills Matter More? have been sent to your account~

    I check your comments and posts in the topic daily. Welcome to post in our topics!

    Don't forget to check the notification and your tiger coins💖

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  • HelenJanet
    ·07-04
    Stock investment is not like gambling, we need to do alot of homework in order not to incur huge losses. Conducting thorough research like analyzing the financial performance of the companies & company fundamentals, be updated on the market trends & geopolitical factors are some of important factors in making stock investment decision.
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  • icycrystal
    ·07-04
    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).
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  • Bonta
    ·07-14
    Critical thinking is essential for investment success.

    The issue is that investments are not straight forward.


    There are many roads to get to Rome. We can’t follow people blindly.


    Everyone will have their own agenda, and frankly they dun care about us. Roaring kitty won’t care if u make money. Elon musk dun care if u lose money. We have to think of what’s their agenda, is it wise to follow them?


    We have to think for ourselves and decide what’s best and what works for us.


    It could be stocks,
    It could be bonds,it could be options or ETFs.


    It’s one thing to follow a mentor/influencer for hand holding, but what if the mentor is wrong? What if the mentor is no longer around?


    It is still way better to take responsibility for our own investing journey and to develop our own knowledge, style, strategy and think for ourselves. It’s our money, if we dun take care of our own money, others will “help” to take our money from us.
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  • WanEH
    ·07-12
    我觉得买卖前做好你的策略，然后要严厉的执行。因为股市不一定如你的预测的方向走去。
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  • Samlunch
    ·07-04
    Having disciplined risk management is the most important trait to have in investing.
    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 🍔
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  • Aqa
    ·07-04
    Stock trading needs acquired skills to be successful. This includes analytical skills. The stock market can be extremely volatile, and traders analyse market trends to make sound investment decisions. Always have a good mindset and be disciplined in time and money for trades. Thanks @Tiger_comments @icycrystal [Heart][Heart][Heart]
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  • Mongji
    ·07-04
    • 耐心 [思考]但一定是有潜力、稳定的股，所以选股很重要。投机就跟赌徒一样，很刺激赚钱快但赌错了买在高点，再耐心也没用 [笑哭]。这时心态就很重要了!该止损的止损，除非你不在乎那一点钱就放着吧 [吃瓜]。

    • 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]。

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  • CYKuan
    ·07-04
    the most recommended skill is the ability to join in a valuable and fruitful investment community, not necessary have to follow the trade of the peers, but the atmosphere of the group to keep own trade momentum moving, to get confidence & assurance from the articles that shared. To get reminder from the possible loop holes that we could possible overlook in the investment thesis, through articles/trades shared by the others. So stocks trading community involvements is a important skill recommended for other Tigers
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  • Attap Kia
    ·07-04
    In stock trading, several key skills are essential for success:

    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.

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  • DavidSG
    ·07-04
    Definitely patient, risk and emotion management. Knowing the fundamental and choosing the leaders of respective sectors will help in sustainable profits.
    Also do not chase high and panic sell.
    Always accumulate more prized stocks when market retract!
    May the market be with you.
    @koolgal  @JC888  @TechnicalHunter  @icycrystal
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  • SPOT_ON
    ·07-04
    think reading financial statements to study the fundamentals plus reading charts is a must before touching any stock .

    @Tiger_comments
    @Mrzorro
    @melson
    @rL
    @Jadenkho
    @Tiger_SG
    @Fenger1188

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  • jethro
    ·07-04
    I think having a calm mind and do your homework is the most important factor here.
    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...
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  • hd87
    ·07-04
    Risk management is another important skill to acquire. This involves know on how to set stop-loss orders to limit potential losses.
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