Overwhelmed with indicators, help!

so im kind of in some loosing trades here.
i already went through school lol, but i still need some help on what indicators to focus on for 1 minute charts, or 5 minute charts. Maybe even 15 minute charts. Any indicators?
If not then where can i go to learn some intraday indicators?

just a suggestion but its easier to profit off larger timeframes so u shud try trading 1H 4H or even daily b4 trying to trade 1m or 5m

well its hard to ride the downs when you only have 800 bucks left. i dont need a margin call again. i will eventually get to that level though. And even when i do get to 4hr charts, i still need some intraday indicators. I guess to start i need to find an indicator/indicators that verify bollinger band readings.

Stop trading with real money immediately. Based on your two posts in this thread you are not ready to trade real money. I assure you that if you do not heed this advice you will lose your 800 bucks.

Accept the loses you currently have and start learning how to trade without putting up your own money. Once you have shown that you can begin to profit, start with a small amount of real money and continue to add to it as your continue to retain profits.

As it stands you’re all prepped and ready to bust your account. You don’t have to allow that to happen.

Yeah, im doing that as we speak. im running some indicators on alpari-us demo accounts.

where do i need to go to learn more stuff?
if your talking about the margin call, well dont worry. i studied up on leverage and margin and it wont happen again.

something to pair up with bollinger bands would still be nice.

what indicators do you use?

resistance/support levels work so do trend lines take a look at the bollinger band trading with MAs thread in the newbie island forum im sure that could help some if you wanna use bollinger bands

lol, i’ll take a look

how do you find your resistence and support levels?
cause whenever i do mine, it breaks lol. Maybe i dont do them right.
same with trend lines.

I don’t rely on indicators in my trading. I rely on price action. If I ever use an indicator it is there to see how price reacts around it. At present I only have a 9 ema on my charts.

price action?
wow. Dont you need like college economics classes to mess with that stuff?
Any books to read about this type of trading? it sounds hard.

This is one of my systems I use for scalping, and it works for me…it’s based on two moving averages and one indicator (and s/r), not a load of garbage on the chart.

The system you choose should be demoed untill you are consistantly making profit week to week…here’s my take on the best way to grab pips off a 5min chart…but just one guys opinion. :smiley:

http://forums.babypips.com/free-forex-trading-systems/30927-mad-scalper.html

it looks simple lol
i’ll give deffinetly give it a try.
what currency do you use it for again?

Works on any pair, I mainly scalp e/u g/u g/j. The thread covers everything, so I would suggest reading it if you are going to trade it. That will answer most or all of your questions…and of course you can post there and I will answer.

Maybe we can keep this thread to help overwhelmed newbies who have too many indies as well lol…we all did at one point. :smiley:

I have found that a simple system works if you are disciplined in all aspects of your trading.

Deffinetly. I feel a lot better with the support of you guys :slight_smile:

i still wanna know what trading according to price action is. If someone is making some money off of it, it probably needs some looking into lol.

Hi
Have a look at a thread here “true PA trading using MA’s for S/R”

thanks k****neerebel :slight_smile:

U

Trading in general is hard. There is no magic set of indicators that will reap you wealth. Discipline, risk management, and patience are crucial to one’ success.

Anyone can create a plan for success, most however fail to execute the plan,

Again another new trader thinking 1-5-15 M charts is where they should be because they are new.

Immediately stop trading those charts they are noise. There is a reason experienced traders don’t trade off of them.

Longer term trading is easier, more profitable AND FAR easier to do. Scalping and trading off of small time frame charts is extremely hard to do and be consistently profitable. Veterans won’t and don’t do it, what makes you think you as a new trader will do good at reading and profiting from the most volatile and hardest to predict price movement charts?

And no you don’t need a large account. Find a broker that offers lot sizes down to 1 cent & fractional lots.

ok, thanks for advice
there is no such broker.

Yes, there are a few of them. Oanda and IBFX off the top of my head.

I trade live with IBFX and they are fair and reputable. Oanda has a favorable reputation as well.

With IBFX I can trade anywhere from and inbetween. 1 cent to $50 dollars per pip on a mini account. So, I can trade fractional/odd lots like .55 cents if money managment calls for it.

No minimum balance to start with IBFX.

P.S. an account that has around $800 in it should be a micro on mini account anyways, a small account can’t sustain full lot size losses for long enough.

wow ok. i dont know how to thank you guys for all this support. Its deffinetly appreciated. I didnt know IBFX was a sound broker. Thanks a million.