Hi,
I am new to trading and trying out my luck on daily timeframe as i have a full time job and hard to find time. I am trying my luck with some mechanical system of indicators, any tips or indicators that works best on 1D or 4H timeframes… you dont have to give me the settings or any top secrets just point me in a direction and i will do the work meself… 1 2 3…. Go! Start givin tips now 
Hmmm. 
Not sure if it’s exactly what you’re looking for but when it comes to indicators, I feel like the 200 and 50 EMA would always be a good and simple way to start, regardless of the time frame. 
I find moving averages a lot easier to read than other indicators.
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Ditch the indicators from the start. It took me over 10 years to figure out that they only serve to confuse you.
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Fundamental analysis is useless to retail traders. Look to the price chart for your analysis.
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Learn pure candlestick price action. For scalping, you will need bar-by-bar analysis. For swing trading, use overall patterns to help you determine the direction of the market.
Okay, you sound serious, so I am going to do something I rarely do for anyone else. I am going to give you a homework assignment.
I want you to take a picture of a chart (any pair/any TF) and mark out all the higher highs and higher lows. I want you to do the same for all the lower highs and lower lows.
If you can learn do this one basic thing, you will NEVER need anything on your chart besides candlesticks.
Here’s an example:
Took me 10 minutes to mark these out, take the picture, then download it. Now it’s your turn.
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I don’t get it. And I doubt if any newbies would either.
Okay, so I found a pretty decent article on basic trend analysis. Take a look:
https://optimusfutures.com/tradeblog/archives/analyzing-price-action
A swing low in an uptrend is called a higher low, while a swing high in an uptrend is called a higher high. To make a new higher low, the price first has to break past a previous higher high. This is important when determining whether a new uptrend is developing.
Conversely, a swing high in a downtrend is called a lower high, while a swing low in a downtrend is called a lower low. To make a new lower high, price has to break down through a previous lower low. This is important when determining whether a new downtrend is developing.
I hope this also helps the OP since she will probably have the same question.
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My tips for a new trader would be don’t bother trying to day-trade off reversals.
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You have chosen very stable and most profitable approach.
So mant thanks steve, I’ll surely try that.
This is quite an interesting article, i read half nd then i fell asleep (not cauz i was bored but i was tired nd it was passed midnight). I really appreciate your efforts to help us newbies. Many thanks steve
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My trading tips.
- Look higher TFs.
- Look big trends.
- Use MAs and Bollinger band to identify potential trend.
- Cultivate good habit of sticking to your plan.
- Watch yourself carefully before and after trading. Rule your mind.
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This is just the tip of the iceburg. Once you learn basic trend theory you will also need to learn:
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Basic chart patterns
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Support and resistance
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Entries and exits
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Trade management
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Breakouts vs. channels vs. ranges
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Managing losses
If anyone tells you trading is simple, they are either ignorant or are trying to take your money.
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@steveepperson oh i am learning alot, i post my daily trading on this forum in the begginers area and everyday i learn a lesson and add it there…
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I will look for it. By the way, as much as I have admired Tommor over the years, I disagree about reversals. They are okay to take as long as you get decent confirmation, yet another term you will need to learn.
Make your mind deduced about trading first. Lots to be learnt in this journey from profit to loss. Just be focused and apply appropriate trading skills.
@steveepperson has given you some great advice.
You’re trading the daily/4H charts, so you’re starting off right. Your best course as a beginner is to follow the trend and use SR levels as your guide to entries and exits. You’ll notice in a trending market, price moves up and down in channels, which is why I always mark out the channels on my charts. Don’t get too fussy over where you draw your channel lines, because they’re subjective and the market knows no lines, just areas. When I draw channels, I’ll draw one then copy it and use the copy to place the other one. To me, this is a true channel, when both lines are exactly the same. But that’s just me.
Here’s an example:
Price has broken out of this bearish channel and has reached a strong SR level. Obviously, it will either breach this level and continue up, or it will bounce off and resume it’s longer term bearish path. It is up to you on what signal you want to use to enter, but some would wait for a strong move on either side of that SR level, sometimes in the form of an engulfing or pin bar.
There is so much you can learn, but the question is do you really need to learn it all? No, you don’t. You find a strategy that works for you, then you ‘perfect’ it (so to speak).
Good luck on your journey.
Matt
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I’d say to start learning as much as you can on the topic. Learn the skills required like risk management, money management, emotional management, etcetera along the way. Practise enough on a demo account and develop your own strategy.