Dislikedi think the only way to be successful in trading with a system or not is be contrarian... if you trade like the books and websites and gurus tell then why do 90% of beginners lose money trading that way.... Forget everything you learned in books and trade oppositeIgnored
Stick to 1 to 3 (correlated) markets and focus only on that.
Many (fresh) traders try to trade (to) many markets in the beginning (like I did) and lose track.
Get "under the skin" of a market and try to " feel" what it wants to do. That takes a long time to understand.
Take/make 2 time frame charts for each market. One overall chart and one scalp chart.
The overall chart (120 M or 180M) tells you what the " mood" is of the market.
The scalp chart (5M) is used to take scalp trades in the direction/mood/trend of the overall chart.
Be carefull for traders who use the word Forecast in their posts/story.
Markets can not be " Forecasted". You can talk about probebilities. Thats what we are looking for.
Markets are like seawaves. Seawaves are made/affected by boats/wind/tides/eartquakes.
Most of them are not to forecast.
Use the proper MA line set/channel and learn how the PA reacts on your MA lines setting. Not the other way around.
Once you have the right setting you will see patterns/PA reaction on you MA lines
Daily VWAP/Weekly VWAP are very good indicators.
That is all you need. learn to "read" that and stick to that.
You could add Pivot Points indicators to your chart since most traders use that as a decision point.
I don't see the PP as an indicator. It just shows statical levels based on the previous day trading range.
Next step is to implant Market Profile which is also not an indicator.
MP shows the PA in a kind of building what tells you what the most traded area's are and where the weak spots are.
On you overall chart a Weekly MP/TPO and on your scalp chart a Daily MP/TPO.
Don't fall in the trap to get your charts burried under indicators (as I did in the beginning).
It will make your confusion only bigger and bigger.
I trade 12/13 year now and I am still learning every day. A never ending story.
"It's better to be out wishing to be in... than to be in wishing to be out!
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