Good site that explains indicators?

I was going to try tradestations but they require a $5,000 minimum account. I was going to start with alliance traders, because I can start with $500 and if I make a stupid mistake and push a wrong button, or greed/ fear gets a hold of me I have less to lose. In other words I want to learn the nuts and bolts on a very small scale, then as I gain knowledge and some confidence through backtesting, size up. ($5,000 wouldn't be a big deal for me if I knew what I was doing.)

At this point I'm pretty paranoid as I've never worked a trading platform before. But, tradestation does appeal to me very much.
 
You might want to check out the stochastics thread on this site. You can follow the progress of some people trying to use a couple of indicators and see how complicated it can get. Another interesting learning experience is to spend some time in Woodies room and try to learn the CCI. You will find that the same problems arise on using all the indicators. They will generally get you in and out late.
 
Quote from easyrider:

You might want to check out the stochastics thread on this site. You can follow the progress of some people trying to use a couple of indicators and see how complicated it can get. Another interesting learning experience is to spend some time in Woodies room and try to learn the CCI. You will find that the same problems arise on using all the indicators. They will generally get you in and out late.
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I wasn't going to rely just on indicators. I was going to follow the training section of this site, as it is the first thing I read that made the most sense and sounded very ......sound.

If indicators get you in and out late, then what gets you in at the right time? Honest newb question, no sarcasm intended.
 
Quote from ric:

I wasn't going to rely just on indicators. I was going to follow the training section of this site, as it is the first thing I read that made the most sense and sounded very ......sound.

If indicators get you in and out late, then what gets you in at the right time? Honest newb question, no sarcasm intended.
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Experience. No sarcasm intended..

edit: In an effort to be a little more helpful I will say that my favorite entry signal is a short term trendline break. You could make a case that a trendline is an indicator but that debate is on another thread.
 
Quote from ric:

I was going to try tradestations but they require a $5,000 minimum account. I was going to start with alliance traders, because I can start with $500 and if I make a stupid mistake and push a wrong button, or greed/ fear gets a hold of me I have less to lose. In other words I want to learn the nuts and bolts on a very small scale, then as I gain knowledge and some confidence through backtesting, size up. ($5,000 wouldn't be a big deal for me if I knew what I was doing.)

At this point I'm pretty paranoid as I've never worked a trading platform before. But, tradestation does appeal to me very much.
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I would suggest that you try demo forex with this capital, just open a demo account with the amount that you will actually fund (in future) and not the huge amount the demo gives you.
 
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