This is a trader question from the Fibonacci Trading Forum.

Justin says:
Hi Neal,

I appreciate you continuing to work to help us become better traders by helping us hone our skills. Here are the biggest things that affect my trading:

What do I struggle with the most?
Overanalyzing – I add Fiblevels on monthly, weekly, daily, 4 hour, etc to try and find the Fiblevels to ensure I don’t miss a level – Then question if the probability of the price action getting there so I slip into “analysis paralysis” and watch the trade slide right on by.

Neal responds:

Analysis Paralysis can be a real problem! If there is doubt about price reaching your profit objective, how about giving it a try, then exit if there is a trigger against your position? That way you are in the trade all the way if it gets there, and you exit with a smaller gain or loss if the trade stalls earlier. If you have enough confidence in the trigger, at least give it a chance?

Also, this issue about the minor (lesser) Fibonacci levels getting in the way, stopping your trading, we should discuss this in a live member webinar soon. This is a common error, I can help you with that.

-Neal

Filed under: 3. Managing Emotions

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