There are two types of investors in the stock market; fundamental investors and technical investors. Whichever one you choose to be is up to you but you must know the characteristics of both to make a decision.
A fundamental investor aims to study a company's financials, the economy and the industry of the company. If you decide to become a fundamental investor, you will have to be able to read financial statements, understand economic data and study different industries. Also, you will need to identify stocks that are "undervalued" so that in the future, they increase in value to make a profit. You should expect to hold stocks for a few months or even several years before selling, if you want to be fundamental investor.
Technical investors are almost the complete opposite of fundamental investors. They do not care as much about company fundamentals, industries and the economy. They simply study the price pattern of a stock using stock charts to identify good entry and exit positions (buy and sell positions). They believe that all company fundamentals and economic data has already been taken into account by the market so there is no point of studying it. Technical investors invest for the short term, holding stocks for a few minutes or for no longer than a few weeks. They aim to profit from short-term price changes in the stock price. An example of a technical investor is a day trader. They aim to buy and sell stocks within the same day to profit from small price changes.
So you know a bit about fundamental and technical investors and you now have to decide which one you are going to be. You can decide to take on both fundamental and technical investment styles but you have to have the skills to do both. Whichever you decide to do, learn the skills that are required to be successful with the investment style you have chosen. If you are going to be a fundamental investor, perhaps you can research successful people that have been successful with this approach like Warren Buffett and Benjamin Graham. What did they do to acquire great wealth, and can you replicate it? Keep learning, keep grafting and become your greatest asset.
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