Week 2 Summary of the 100-Day Reading Sharing Plan - 15 Key Takeaways from 'Reminiscences of a Stock Operator'

1. The personal qualities that successful stock investors should possess include: patience, self-reliance, endurance of deep pain, broad-mindedness, detachment, lifelong learning, humility, flexibility, and calmness.
2. Reviewing past trades can provide insights into the future.
3. The psychology of trying to exit at the absolute peak is unwise and unhealthy.
4. Many people can predict the direction of market movements, but those who can predict and hold their positions are truly remarkable.
5. No one has a sufficient reason to trade stocks every day, and no one has enough knowledge to ensure that every trade is rational.
6. The stock market does not rise or fall based on individual investors' opinions; it rises due to intrinsic reasons.
7. After experiencing adversity, people particularly enjoy being in favorable conditions, even if they haven't fully reached the peak.
8. If prices fluctuate within a narrow range, with movements too small to matter, trying to predict the next big move—whether up or down—is meaningless.
9. Never short a stock that is recovering.
10. A stock being lower than its past price is not a reason to buy, and a stock being higher than its past price is not a reason to sell.
11. We cannot control when the market presents buying opportunities, but we can control our trading behavior, patiently holding cash until the right moment appears.
12. A person doesn’t need a reason to make a mistake. For traders, the most dangerous enemy is the eager advice and charisma of a smart friend.
13. Before placing an order to buy a stock, I’ll pause and ask myself again: What is my reason for buying this stock?
14. Experience can teach many things; going against experience means repeating mistakes and suffering heavy losses.
15. You must not only study how to make money but also how to avoid losses. Knowing what not to do is as important as knowing what to do.

Holdings $Cleveland Cliffs(CLF.US) $Taiwan Semiconductor(TSM.US) $Amazon(AMZN.US) $Alphabet - C(GOOG.US) $Unitedhealth(UNH.US)