Most newbie traders who want to make money in trading are more focused on looking for the holy grail like what is the best indicator/oscillator out there that they could use.
The thing is no matter how good you are in reading the charts or adding up your indicators won't save you when the "unexpected" is about to happen in the market, one big player can simply pump or dump the price without warning.
Trading is simply having to bet on playing Long(Buy) or Short(Sell) position but what most newbie traders don't understand is how they will manage their funds when the trend simply goes against them.
I had a previous article about how to get rid of your fears when doing spot trading (here) which is quite simple to understand, the only problem is on the execution stage if you will be able to apply when you're in actual trading specially when greed gets in the way.
Just keep it simple and don't bombard your chart with too much clutter that will affect your decisions, just get the idea on previous supports and resistances, aid with a moving average with 50 and 200 period to get a better view of the trend.
The entry points can be based from using a lower time frame "4hours" for instance and observe where it created supports and look closely on a hard to break resistance so you won't be buying on top if you're going for a LONG position.
Pay attention to your total equity not on profit per every trade you make as you will get out of focused when you try to aim for a perfect trade, that is why you need to protect at all cost when the market will go against you and wait patiently for another support to show up.
Learn to lock in to your profits and sell if there will be opportunities as you can re enter the market anytime, don't let your profits put into waste or too much greed hurt your equity.
Some trade history of just repeating the cycle coming in and getting out of the trade to increase your equity.
Needs a lot of patience and not be hasty as there will be unlimited chances the market can give you.
Make use of those limit orders as you don't need to monitor every minute as long as you have looked at the bigger picture on its major support and resistance levels (daily to monthly time frames).
Good thing is you can also trade with your smart phones in case you don't have PC to use with.
If you can manage well your funds and get rid of your fears and add some patience, surely you can keep up with the so called "market movers" in the market.
Your indicators are just your added bonus to get an edge.
Happy trading!
