Candlesticks are the best indicators in the world. They're good for candlestick formation, elliot wave formation, and trend-line breakout. By mastering these 3 things, you should be able to break-even in Forex. To really make money though, you'll have to master money management as well.
The main tip is to manage your risk. That is the only thing that separates the amateur to a professional trader.
Any amount of maths can't help you. If there was a magic formula, someone would have made infinite dollars already by predicting and forecasting the markets.
All those ebooks and programs claiming super profits do work - but not consistently and regularly. Thay only draw in the greedy with their claims of making thousands of dollars in minutes.
Trading professionally is an art of consistency not quick profits.
It is true what you say how when you do open a position - and it goes against you - it happens to the best of us. This is where your risk management plan - your stop loss comes into play.
Understand trends and go with the longer trend - longer time scale for your trades. Short term trades require more discipline in executing your exit as well as wisdom in knowing the markets.
Read the charts, and know what your risk/reward ratio is before you enter into a trade.
Some of the forex blogs i would like to recommend which contains the best Indicators help desk and explanations for drawing conclusions through it are:
Forex trading guru
Forex cash machine
Also the site given below contains the best forex indicators of various currency pairs are:
http://www.finexo.com/
