Hi there,
I am getting into forex trading and have setup the two line MACD indicator. Watching the various cross overs with the Nasdaq to start to see how they work.. using 5 and 15 views.

I have been looking at the site and then I decided to add in a stoch to follow the over bought and sold.. then looked at RSI and then started going cross eyed.

Too many differebt periods, % values and the like.

I just wanted to get a view from the minds on here where a beginner should start indicator wise..

Below is what my app looks like currently.

Many thanks

S.

stevenls wrote: Wed Jan 01, 2020 9:32 pm Hi there,
I am getting into forex trading and have setup the two line MACD indicator. Watching the various cross overs with the Nasdaq to start to see how they work.. using 5 and 15 views.

Welcome to the forum

Have you tried using the TDI indicator on mobile?

As a beginner, the 5 minute timeframes is best only to be used to enter larger timeframe trends or signals.

I'm not to sure what kind of analysis can achieved using those indicator combos on your chart but take some time to read these topics:

• Custom indicators and setups for mobile MT4
• Why traders shouldn't use mobile MT4 as their platform for technical analysis

As a beginner, the higher timeframes (4H, Daily, Weekly) are safer, more accurate and better for using indicators. The 5 minute timeframe is where the brokers will take you to the cleaners (if you're a new trader).

Wishing you luck if 2020 my friend. Try and learn how to trade using a desktop platform, too. Mobile is not always best for beginners

stevenls wrote: Wed Jan 01, 2020 9:32 pm

I just wanted to get a view from the minds on here where a beginner should start indicator wise..

Start from the basic stuff. Like a resistance and support indicator. Study carefully how the price behaves around it.

Thanks for the info. I have that TDI post bookmarked already as I was going to add that also but thats when indicator overwhelmness kicked in

In relation to the time frames and this will scream beginners error here, I only have a small amount of money to use at the moment to mitigate risk. So the free margin I have will be small. I thought with the larger time frames there is a lot of movement within that timeframe, i.e. 4h so if I had a trade (.1 for nasdaq) over the time frame if it dipped (for example) but following the trends it should eventually rise, my margin will be gone and I will have been closed out. If I was watching it over a 5 ot 15 min period then I could have a more dynamic view over the immediate ups and downs.

OR.. are you watching the indicators over a 4h period then after you commit to the trade look at smaller time frames for the movements.

Trying not to sound daft here but also just trying to be in the best spot to commit. Lots of articles (sometimes tooo many) about indicators and trends and the like, not a lot that I have come across that actually say what to do when you click buy (or sell). I see a number of things about scalping but that seems like a thing for someone with a) experience b) more cash than I have at the moment.

Appreciate the time.

S.

Welcome to Trading,
My biggest recommendation is to get on a computer with MT4 because it will give you access to a lot more options, customization, etc. Even though I've been trading for three years now (and hopefully will be able to go full-time in 2020!) I still do very little to NO trading on my phone because I want to be able to really see what's happening.

As far as indicators, it's all a matter of what your eye sees. I've gone through a LOT of different indicators (including most here) before finding out what helps ME see the moves best. I use a MTF TDI on two different timeframes depending on whether I'm trading on 15 minute, 1 hr, or 4 hour.

Just because something makes sense to one trader doesn't mean it'll work and make sense to you, so don't rely too much on finding "the best strategy" or indicators, go through them and find out which ones work for YOU.
When I started, I didn't get TDI either, so don't use it until you've learned more about what you're looking at, and then you can come back to it later once you've learned more and see if it's a good fit for you.
Here's my default view: Two TDIs, a paid for Supply & Demand (different than support & resistance) indicator, and a few histograms.

Thanks for the info. My issue is at work the firewall blocks the MT4 app 100% and I use IG and the graphs don't load - we have VERY tight security policy at work we need to work under.

Doing a 50+ hour week doesn't leave much time at home on the PC, so the phone is my main source of reading and following the graphs and trading - hence why I am trying to make the most of the MT4 app. Another reason for this is to hopefully like people on here, make something of trading so I don't HAVE to spend 50+ hours a week at work and invest those hours into my own direction and path forward as I move on in years.

Will keep poking around the site also, thanks for the info thus far - you are all helpful.

S.

check out the YeshuaYoke thread on mt4 mobile custom indicator setups

stevenls wrote: Thu Jan 02, 2020 11:07 am Thanks for the info. My issue is at work the firewall blocks the MT4 app 100% and I use IG and the graphs don't load - we have VERY tight security policy at work we need to work under.

Doing a 50+ hour week doesn't leave much time at home on the PC, so the phone is my main source of reading and following the graphs and trading - hence why I am trying to make the most of the MT4 app. Another reason for this is to hopefully like people on here, make something of trading so I don't HAVE to spend 50+ hours a week at work and invest those hours into my own direction and path forward as I move on in years.

Will keep poking around the site also, thanks for the info thus far - you are all helpful.

S.