Useful indicator's & charts

Beginner Questions
#1

Hello everyone,

I started studying currency trading in the hope that I do well on a demo account. I understand that technical analysis is one of the main tools of the trade & would like some advise on which one’s to concentrate on. For example I know the support/resistance indicator is useful which I added to MT4. I also read that MACD is good also especially for spotting trends. I’m looking for a MACD ‘cross over’ but can’t seem to find one that isn’t an .ex4 file.

I’m compliling a list of all the indicator’s & charts I should get familiar with so any suggestions would be much appreciated.

Thanks

#2

Hey my advise to you would be throw those indicators out the window, you seem to be willing to invest time in study something that is an absolute must if you want to stand any chance in Forex.
Take your time to learn about naked price action which is trading without indicators, you will grow to have a much deeper understanding of the markets.
That is the most valueable thing you can get out of demotrading.
grtz

#3

spend some time at the free school here before you trade

#4

Thanks rlt. I’m well aware that a lot of studying is required here . Don’t worry I have no intention of using real money until I feel comfortable on a demo account which I haven’t even started yet. Will be taking my time with this.

I’ll try to learn about ‘naked price action’ & why movements take place. I just wanted to know what good indicator’s to use so that I can study them as well. Since I posted my question I was reading about MACD for example which I found very interesting.

Hey eddie I already started kindergarten lol!

:smiley: