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How to avoid getting caught up in Analysis Paralysis?
AFCapitalTrading

Member Since Sep 10, 2019  2 posts AFCapitalTrading Sep 16 at 21:54
Okay, so what happens to me is pretty funny i have a great eye for setups, i trade in a confluence based style of trading and i have not been in the red yet for a couple of months. However as the pandemic hit, more time in the pc gave me the opportunity to experience intra-day trading.

What is happening to me is that i get caught in my analisis, i tend to be looking for levels on the weekly, Daily and execute on the 1hr-15min, however i have found that i am doing too much analysis, getting paralysis and end up missing the trades that i should be taking because i think there is more to analyze.

How to get around this? perhaps any advice on how to approach charts to trade whats infront of me rather than get too caught up in the analysis? A friend of me told me to just focus on the 4H trend and execute based on the 1h -15min chart setups, whats your take on this?

Thanks.

LeviSievwright5

Member Since Jul 20, 2020  66 posts LeviSievwright5 Sep 17 at 02:08
Forex trading requires discipline. You can use the trend of daily timeframe. And you have to keep a lot of information about the price. 1 step below the time frame in which you will analyze, set the stop loss by analyzing there. And analyze support resistant and market context. And try to meditate regularly.

AspiringTraders

Member Since Sep 08, 2020  21 posts Anonymous (AspiringTraders) Sep 17 at 02:55
Hello my friend, I understand what you are going through and the key to your answer is understanding how to become a professional trader. For instance, if you play a sport which requires a physical skill. In trading there is no physical skill only a psychological skill. To exercise your psyche is to follow a plan which includes risk management so you can trade in a care-free mindset. The answer is in the paragraph you typed up as well, 'however i have found that i am doing too much analysis, getting paralysis and end up missing the trades that i should be taking because i think there is more to analyze' now just spend less time on your screen and maybe pick a time window to start looking at the screen. I wish the best and happy trading!

you only produce results
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