A trader must observe carefully before taking any new trade. If he is exposed to any information with any kind of error before trading, then he must re-acquaint himself with that information. That is why the trader must consider timing. You must use your intelligence while trading. If you trade on someone else's suggestion, there is more chance of loss than profit.
Of course, a trader should make a decision after analyzing the opinion given by others and comparing it with his own opinion. In trading we often have emotions that need to be controlled. If a trader takes a trade on depending on emotion, he is bound to lose. Of course a should pay maximum attention to the above matters.
Analyzing the coins and also analyzing the strategies are two different things and a trader should take care of both, a person can only be a good trader if he have some understanding of both of these. If he is a little rough at strategies its ok he can have more choices to check out where did he made mistakes and further when he is taking entry somewhere and he has going to do it in another coin he have to change it.
But when the trader is doing it with the same strategy even he know he will find a loss again because he has already followed that strategy then it might be as difficult form him in this situation to recover himself and I can't think he is a good trader at all. So, analyzing is also important like we should know about the different type of coins and their respective background.
