A successful retail investor must lifelong learn these 3 things
First: Market Timing
When to enter, when to exit, when to hold, and when to add positions. In other words, when to hold on and when to let go.
Second: Capital Management
The most important thing to remember is to not lose your principal, preserve your capital, preserve your capital, preserve your capital. This point was later mastered by Buffett.
He said there are only 3 rules for investing: the first rule is to preserve your capital, the second rule is to remember the first rule, and the third rule is to remember the first two rules.
Third: Emotional Management
This is the most important point. If you cannot control your emotions, then no matter how strong the previous points are, you are still a failure.
Rationality, logic, and pure economics cannot shake the market; the market is swayed by human nature, which is our emotions.
The real challenge to confront for a lifetime is dealing with your inner self, that is, "emotions". If your heart is not calm, you will never be able to do well in investing.
Moreover, as time goes on, the influence of the "heart" grows larger! Don't believe it? Just wait and see.
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