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How to avoid getting caught up in Analysis Paralysis?

AFCapitalTrading
Sep 16 2020 at 21:54
2 příspěvků
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
Sep 17 2020 at 02:08
298 příspěvků
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.

Anonymous (AspiringTraders)
Sep 17 2020 at 02:55
24 příspěvků
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
GeorgeBischof
Dec 18 2020 at 11:26
318 příspěvků
You need proper knowledge and skills to make any decision which can make you profitable.

carolehaye
Feb 08 at 06:36
18 příspěvků
Maybe you can limit the analysis to 1 or 2 times. This will save you from over analysing your trades and you won’t feel bad about it later.

epeepillock
Feb 26 at 04:20
15 příspěvků
Have you tried daily timeframes? I think that would be best for you at this stage. There is a certain dedication and discipline that every trader has to follow in order to get better at their trades.

LyudmilLukanov
Oct 03 at 14:25
670 příspěvků
Try to use a high time frame to get more accurate results in analysis.

SofieAndreasen
Oct 03 at 14:54
689 příspěvků
4h time frame is better for intraday trading. You should try that.

LukeRachel
Oct 03 at 15:10
397 příspěvků
epeepillock posted:
Have you tried daily timeframes? I think that would be best for you at this stage. There is a certain dedication and discipline that every trader has to follow in order to get better at their trades.

I also think that daily timeframe helps a lot in maintaining discipline and plan.

sharabela
Oct 03 at 15:25
40 příspěvků
AFCapitalTrading posted:
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.

Yes, I agree with your friend who suggested that you should start analyzing the market from 4H, then take entry based on 1HR or 15M. There is no point of analyzing the Monthly chart if you trade based in 5M, 15M. It never gets you anywhere. If you are too tired mentally, may take a break from trading for a week or two. I am wishing you all the luck.

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