$TENCENT (00700.HK)$ $BABA-W (09988.HK)$ In order to be successful in stocks, a person must have these seven abilities, summed up from years of experience:
First, have the ability to think in reverse and think from others' perspectives. You need to understand that investment is a game where only a few people make money.
Second, independent thinking. The ability to think independently is very important. Most people just follow the crowd based on rumors, especially those who only focus on news without considering the stock price. They are prone to losses.
To have the ability to correct mistakes, you need to learn to cut losses, because there are always mistakes in investments. No one can be 100% correct. If you don't respect the market, one mistake can undo all your previous efforts.
Find your own correct investment method. Some people invest with spare money, so they don't need to worry about external market fluctuations. Some people invest in large cap stocks, some in small cap stocks, and some focus on growth stocks. There is no comparison. But we should know that most individual stocks end up losing money, and only a few stocks are successful. The opportunity for athletes to take the field is very rare. The time for a stock to rise is very limited. Most of the time it is falling. So everyone should have their own investment method. Don't keep learning and trying, but rather focus on long-term practice and accumulation.
Fifth, learn to control your emotions. Many people often fail in the end because of their positions and different sources of funds. It is difficult for them to control their emotions. Some people can make a few hundred yuan a day just by going to work, and they can make thousands or tens of thousands... when the stock market fluctuates.