$BTC Skill Analysis Sharing:
Before analyzing shorter timeframes like M15-H1 to place trades, you should first check larger timeframes like H4, D1, or Weekly to see if there are any support/resistance levels.
If there are, consider buying near resistance on the larger timeframes and be cautious with selling at support levels on the larger timeframes.
Otherwise, it’s easy to fall into the trap of selling at the bottom and buying at the top.
That’s the analysis part.
But after analyzing and placing a trade, it’s a different matter. Just because the analysis is correct doesn’t mean the trade will be successful.
Analysis before entering a trade is a form of prediction: finding the entry point, stop loss, and take profit.
But when the trade is live, it becomes a real-world issue: this is when personal trading psychology comes into play, intertwined with emotions such as fear, greed, and hope.
Many people analyze well but trade poorly due to weak trading psychology: a lack of experience, exposure, and an unclear sense of self-positioning (for example: being poor, financially unstable, borrowing money but trading with large volume, or trading under pressure...).
#trading #TrendingTopic
Before analyzing shorter timeframes like M15-H1 to place trades, you should first check larger timeframes like H4, D1, or Weekly to see if there are any support/resistance levels.
If there are, consider buying near resistance on the larger timeframes and be cautious with selling at support levels on the larger timeframes.
Otherwise, it’s easy to fall into the trap of selling at the bottom and buying at the top.
That’s the analysis part.
But after analyzing and placing a trade, it’s a different matter. Just because the analysis is correct doesn’t mean the trade will be successful.
Analysis before entering a trade is a form of prediction: finding the entry point, stop loss, and take profit.
But when the trade is live, it becomes a real-world issue: this is when personal trading psychology comes into play, intertwined with emotions such as fear, greed, and hope.
Many people analyze well but trade poorly due to weak trading psychology: a lack of experience, exposure, and an unclear sense of self-positioning (for example: being poor, financially unstable, borrowing money but trading with large volume, or trading under pressure...).
#trading #TrendingTopic