I'm new to trading and have recently been devouring as much information as I can. I've been reading various books from pure TA charting books to the classics like Elders - Trading for a Living. I've been very interested in all of them. I have Metastock and EOD data and have just been investigating and looking at various charts and indicators and the like.
When I eventually get around to actually putting my money on the line I imagine I'll be trading EOD data for trades from 2days to weeks+.
After reading all these books I'm finding that I'm a bit lost as to the next step to take.
So, I'm hoping some of you more experienced individuals out there can give me some advice as to how you think I can move forward?
Yes, I understand from the books about lagging indicators and leading indicators and breakouts and so on - and I've read the importance of risk and money management and discipline.
What I'm struggling with is where to go from here? I've no real idea about what type of system/indicators I should use, what setups I should use and what type of setups I should trade.
As a beginner, is just trying to swing/trend trade the best place to start with some MAs and RSIs?
Or try and begin looking at breakouts through support and resistance levels?
Or pullbacks using RSI with a trend?
I suppose what I'm asking is, 'if you were me, with the benefit of hindsight, what would you do over the next 1 - 6 months in order to get to point were you have some idea as to your aims and strategies for trading?'. As I say, I need some kind of direction for the coming months.
I don't know anyone who actually trades so I've no one to talk to about this, I hope some of you can give me a few minutes of your time to help me progress a little further.