teckpro

I second the below advice. I started to trade a year back and tried too many strategies and markets at the same time. It cluttered my mind and also cost me in losses (though not significant). Then I understood its not about the particular strategy or market. Most proven strategies will work if you really understand the risk and money management. After this i picked one strategy and started to organize the data and interpret it. Backtesting the ideas helped a lot once I started looking at it again and again. Currently I am using the Ichimoku indicator and Ninjatrader for my charts. I study the charts everyday for 30 minutes and make notes on the trades based on the indicator entry criteria. You can use a simple indicator like moving average cross to start with. Main idea is to be able to look at the chart and at a glance understand support/resistance for the time period (5MIN,15MIN) you are trading on. Every time you look at the chart you need to note down the parameters you need to enter a trade. You might have 1 or 10, but once you see the chart you need to make the note and then decide the entry. I am also learning the above process for last few months and it is tough but you start getting the clarity as you spend more time in a structured manner. P.S. Also you get more information in less time. Hope this helps.....