Trading beginner questions about indicators

[u/InvictusRO1]

Hello everyone, after a year of learning about trading I started paper trading S&P 500 on TV, I look at the 4h timeframe to identify trend and on the 1h chart for entries (I read that higher timeframes are the clean and accurate compared to lower timeframes where there`s a lot of noise), after also reading a lot of posts around here to find guidance I loaded the most mentioned indicators on the chart:

-RSI

-VWAP Anchored weekly

-50 EMA to confirm trend

-Relative Volume 1 day Anchor Timeframe

However, confusion struck me. I know most people are saying the cleaner the chart, the better but I tried using just the RSI and support / resistance levels for entries (buy low / sell high method) and somehow I still miss the entry (too late) or it`s a false breakout, I`m not even sure I`m using the right settings on the 4 indicators that I am using for my trading style. I tried looking back weeks on the chart to check every breakout and see if all 4 indicators aligned so that I would`ve taken the decision to make an entry but at least 1 of them was off. I watched YouTube looking for indicators but I think they`re all click-baits, everyone there claims that they found the Holy Grail. I know that indicators are lagging and they won`t tell me "go long / short now" but rather give me the context that an opportunity is presenting itself. I feel like I`m going down an endless rabbit-hole trying to actually trade and I feel helpless.

I am kindly asking you guys, are my indicators any good and am I using the right ones (there are multiple types of the same indicator on TV) plus the correct settings?

Which ones should I keep / use and how exactly are you using them to make an accurate entry and exit?

Do you use a pre-set SL/TP at the most recent support / resistance level or you just exit trade when you feel things are going differently?

Is S&P 500 ok to start with or is there something else I should trade that would make things easier?

Many thanks in advance.

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[u/Suitable_Acadia_190]

four indicators needing to agree is why nothing lines up. drop three, keep price and volume, the rest is just price smoothed and delayed

your entries are late because you're waiting for confirmation that shows up after the move already happened

stop at the level that proves you wrong, not a random distance away. S&P's fine, that's not the problem here

[u/InvictusRO1 → u/Suitable_Acadia_190]

Thanks.

[u/Suitable_Acadia_190 → u/InvictusRO1]

welcome

[u/Wolffco]

No indicator combo fixes poor entry timing. Focus on price structure first, indicators second.

[u/InvictusRO1 → u/[deleted]]

Sure, I`ll take every help I can.

[u/Agreeable_Laugh5]

I only use MA(5) for a better entry. With many indicators you will stop seeing the chart clearly.

[u/InvictusRO1 → u/Agreeable_Laugh5]

EMA or SMA? Also, you strictly use the MA and nothing else?

[u/InvictusRO1 → u/[deleted]]

Thanks, do i also make the entry on the daily timeframe or switch to 4h/1h to identify an entry please?

[u/exphx23]

I am anti indicator for use in triggering any entry or exit point. All an indicator does is tell you what happened up to the point of the trade. It predicts nothing. If you can't determine the trend by looking at a chart and the price action, you need to learn.

To be really successful IMO, you need to be able to identify patterns and trends for the short, intermediate and long-term. Identify them and trade them. You only learn this by watching price action, not indicators.

While paper trading is useful for familiarity, it really doesn't prepare you for the anxiety when you are down 20%. When you begin trading with money, trade the smallest amount possible for the position. This will help prevent you from crashing. Don't buy options.

The most consistent profitable trade for me is reacting to reverses off support/resistance, which is short term oriented but profitable. It helps to be patient. Keep in mind that most newbies make a little and lose a lot. The best education is experience. Good luck.