I believe that leverage is reason number one why so many people fail in Forex and CFD trading. I know that because I experienced it by myself and it took me a while to understand that and work on that.
As you know, I use few technical indicators, but the main are Fibonacci Retracement and Extension levels. It is already built in MT4, but you have to configure it so you can use most popular Retracement and Extension levels at one time. Here is how to do it step by step.