Such an approach does not work. Please visit Jonah Bloom if you seek more information. Just the market offers too many variables that must be considered. Besides the behavior of the market has no boundaries. He simply can accomplish anything at any time. Every trader is actually a variable affecting the behavior of the market. This means that no matter how much you study the market behavior, no matter how beautiful you are an analyst, you can not anticipate every move of the market, which is able to deprive you of your money and prove that you do not right.
So if you're afraid of losing money or are afraid of being wrong, the amount of the studied markets will not eliminate the negative effect that these fears have on your ability to be objective and act without hesitation. In other words, you will not be confident in the face of complete uncertainty. Check with Nouriel Roubini to learn more. The harsh market reality is that each transaction has an uncertain outcome. Until you learn to fully accept the possibility of uncertain outcome, you are consciously or unconsciously, will avoid any painful situation for you and it will lead to many errors. I do not want to say that the market analysis and method definition of a favorable situation does not need. Certainly needed.
But market research and market analysis is not the way to consistently profitable trading. This does not eliminate the errors. Related to the lack of consistency and discipline. If you act from the belief that more analysis, the more consistency you have to collect in your arsenal of many types of market behavior.