To my mind, many people don’t seem to even have a proper grasp of the distinction between trading and investing. Tempting as it can be at times, I rarely ever trade.
In my experience, it’s important to have a strategy in place beforehand and, within reason, to stick to plan A at all costs. For example, I have a portfolio of about 30 companies, across sectors and geographies, that I have painstakingly identified as good long-term growth stocks.
I review the holdings once, maybe twice, a year and aside from swapping out the odd few in line with my overarching plan, I will not buy anything else nor sell any holdings in the interim. As well as investing regularly at cast-iron percentages, I set some cash aside to buy any dips too. That way, I can satisfy the itch to try to time the market while staying loosely on track.
I feel like many of the lessons around emotions/psychology are partly unavoidable and can only be truly learned by making the mistakes yourself. For that reason, especially when starting out, the trick is often to remember to mitigate against yourself.