It's good to know the difference between investing and trading because they are not the same. Yes, investing in Bitcoin does not need much analysis you only need to plan for long term process and hold without panicking. Trading, however, requires a lot of skills and strategy before you can make something. Sometimes we just have to do the right thing so you don't put yourself into danger and struggle to get out of it because it's obvious that trading requires analysis, it's better to start Bitcoin investment for future purposes since we have already know the value.
That's the fact about trading. Based on my experience, I was once a newbie in trading, influenced by traders who do stream on YouTube and also some videos when I entered the market. I have made lots of mistakes, the most notable one of which is holding a position without SL and liquidating my entire capital, including other investments from cross type margins, which ate up all of my capital due to my failure to use SL.
I'm also impatient before and always overtrade because I am thinking that my analysis is right and the price will reverse from my entry, but it's not because I am against the majority or against the trend.
That's why those mistakes are the ones that will guide you to become a better trader, including the emotions that can't just easily handle if you are a newbie.
I learn a lot of all strategies or everything in trading, including ICT/SMC /price action or any advanced analysis, but I end up trading with a simple strategy, but from those experiences and learning from advanced ones, I understand everything in the market. That's why I don't trade against the trend; I always look for bias and use the simple trading strategy, like being patient on retracements that are inside your target retracements level.
We are just human. I know almost all of us are the same; we experience the same. If you give up because you see you are not profitable, why not review everything about all the mistakes you did? Study them, remember them, and use those mistakes to fight back once the market shows similar scenario; you know what you are going to do. The journal is very important for your improvements.
If you don't want this complex analysis and speculation, then go with a long-term investment, but it also needs timing. Only do like DCA when people are selling or if the market is bearish. Doing it wrong by buying near ATH or if you think the price would go further that's the wrong way to apply DCA unless you have a decade plan to hold your investment.
