What's better as a new user, find a system or learn some indicators?

I’m not even demo trading yet, but when I get there, what’s better, learning some combination of indicators and use that on charts or find a system to trade?

I see some topics here about moving averages and fib stuff and lots of people like RSI. It can’t be that simple though, right?

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In order to decide to use an indicator in trading, you need to test it yourself. This is why you need a demo account. Otherwise you will get the answers “Yes it is a great indicator or a couple of indicators”, “This indicator is old and not functional”.

A little lifehack. Make a demo account with an approximate deposit that you would like to invest. For example, $100 or other equivalent currency. Set the indicator on the currency pair you are interested in and try to make a deal.

Why such a tiny deposit? A small deposit teaches beginners how to observe risk management and not to make a casino out of trading.

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Every indicator you can find is just a component that helps your strategy work. They are not magic spells on their own.

In order to be part of your strategy, the indicator has to answer a question you must know the answer to, and it has to be the only way of getting that answer. The strategy tells you the right questions, start there.

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All derivatives of historic price do not have any more predictability than randomness. If it was that easy, the guy with the most indicators would have an upper hand.

Learn to manage trades & manage risk. Trade entries will not matter at all as you cannot trade the past, nor predict the future. Just the ‘now’.

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Acquire a trading system/strategy or develop your own. You will have much greater mileage than assembling multiple indicators that may give conflicting signals or give late signals.

There are many strategies that can be profitable. You just need to pick one that fits you and that you can execute consistently with proficiency.

Ok, so explain, how this strategy Free EUR USD 9000001 Strategy which use indicator, is profitable, if you think that derivatives are randomness?

Newbies should focus on a system and try to learn it, there is 1000 indicators outside and you can’t trust no one

Mhm, how you explain profitable strategy posted above?

Sure, you want me to download and run through the EA?
A derivative of price is what an ‘indicator’ is. No historical pricing will have any predictive power.

If it was true that no historical pricing will have any predictive power then all sequences of daily price changes in forex would comprise 50% higher closes and 50% lower closes. If true, the longer the series, the more accurate the percentages.

In practice, in an established uptrend, there will be about 55% higher closes, in a downtrend there will be about 55% lower closes. These percentages are confirmed when longer series are examined. A consistent imbalance of 55:45 does not indicate randomness.

Is there a way to know if an uptrend or downtrend is happening currently? I can only see them in the past.

Yes, it is possible to say at the open that price is today in an uptrend based on a series of closes up until last night’s close.

Of course, as soon as price today begins to fluctuate, this might end the uptrend. But until the uptrend has ended, the uptrend still exists.

This is useful for traders as out of the things that price might do today, the most probable is continue the uptrend by closing higher than last night. The measure of how probable is about 55%. It would be unusual to find an established uptrend on the D1 time-frame in which the percentage of days with higher closes is 50% or less.

This strategy is free for personal use. You are right, past price doesn’t prediction power, it has statistical power.

Just trying to find mt4. Havent used that in decades.

Do you use MT5 Strategy Optimizer or Mql5 cloud network?

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no, I don’t use any of these solutions

To determine the trend direction, refer to the higher timeframes such as H4, D1, or W1. The reason for this is that higher timeframes provide a more accurate and reliable view of the market trend. It is important to use historical data analysis to confirm the trend direction and avoid false signals. Historical data analysis can be done using Tester d MT4 or MT5. Thank you for your question. Setting up a trading robot is justified, but for manual trading, it is not necessary.

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For beginner’s advice, it is important to avoid relying too heavily on indicators.

While they can be useful in building a trading strategy, it’s crucial to remember that they can fail or be affected by unusual market conditions.

Experienced traders strongly recommend learning

Price Action, which allows for a cleaner chart without an overwhelming number of indicators and the ability to quickly adapt to changing market conditions.

You aren’t part of the mql5 cloud? How are you optimizing strategies?
I cant go back to mt4, Im all MT5 & Mql5.

The way I build and test strategies is a trading secret. The free strategy I published is also available for the MT5 platform