You got good advice from other people in this community which you should consider. What I can add is that indicators are just tools that you can use to help achieve your plan. Nothing more than that.
What you really need is to establish a clear rule-based plan that you would ask a dumb robot to execute for you:
- How much time are you willing to dedicate to trading.
- How long are you willing to be in the trade?
- When to trade
- What to trade
- What is the amount you are willing to risk losing, and still sleep like a baby.
- What is your expected profit within the period defined in item 2
- Plan the exit of the position for each possible outcome, based in some eventual combination of:
- Profit
- Loss
- Time
- Indicators
- Amount of coffee drunk
- Etc
- Plan for a portfolio configuration that would be responsible for generating the results you are looking for.
- Establish a journal in which you register your planning, thoughts, and facts daily. You will review at least once per week, monthly, quarterly, and yearly. That is the best way to have personal feedback on your own trading activities.
In any case, the most important focus you should have is RISK Management above all the rest, and once you have the plan established, execute it just as a dumb robot would. As someone wisely once said, there’s a time to plan (use your brain) and there’s a time to execute (just do it!), just as with
Dr Jekyll and Mr Hyde split personality. NEVER forget that s..t happens with 100% probability, and you should have a plan for that too.
The first practical and most important step you need to take is EDUCATE yourself before committing real money. No exceptions here. There are tons of sources to learn from, some paid which you might consider a cheap investment and a lot of free YouTube videos as well as from other sources, including your broker’s, and last but not least, read good books on the subject of interest. Focus on quality over quantity!
The second practical step, while you are still learning is to paper trade, applying your plan rules, till you find you are satisfactory consistent in your management (I didn’t say profits). Trading with paper money trading is not the same as with real money for various reasons, execution for one though the most relevant is the lack of emotions, the human factor.
The third step is, AFTER that consistency, start with real money, in small amounts and only increase gradually as you get more confident in your trading.