I am (as probably expected ) a novice trader and recently in the past month or so I was reading a lot about technical analisys and (as probably everybody else in the beginning) I am pretty messed up . So at this point (after loosing 400$ in my live account in one day ) I decided it might be a good idea to ask for help from the experience traders.
Now the style (which I think suits me) is short term trading (even maybe scalping if I learn to use it right). I know that short term trading brings in a lot of risks but well I think the risks might be worth it in the long run.
I need help with choosing the right indicators as the money I lost was with the MuddBudha system probably due to lack of fully understanding it.
Anyways my real question is which indicators are most "trustworthy" in short term trading and how they should be set up. Now I am aware that there is no Holy Grail but at least a system that will help me start "seeing" the market, not just looking at it, will be greatly appreciated.
Thanks in advance
Now the style (which I think suits me) is short term trading (even maybe scalping if I learn to use it right). I know that short term trading brings in a lot of risks but well I think the risks might be worth it in the long run.
I need help with choosing the right indicators as the money I lost was with the MuddBudha system probably due to lack of fully understanding it.
Anyways my real question is which indicators are most "trustworthy" in short term trading and how they should be set up. Now I am aware that there is no Holy Grail but at least a system that will help me start "seeing" the market, not just looking at it, will be greatly appreciated.
Thanks in advance