XAUUSD System Rules: Write Down The Rules and Follow Them
We shall use the previous steps to come up with a written xauusd trading system that generates the trade signals shown below using the 1 hour gold trading chart. We shall use the 1 hour xauusd chart to write the rules of this xauusd strategy - xauusd system.
A xauusd trading system refers to a set of written xauusd rules that you follow to manage your trades. These rules must be written down so as to guide you. The following learn xauusd tutorial will show you how to write the rules of your gold trading system.
The keyword is a SET OF XAUUSD RULES which you must follow. If you don't follow the xauusd rules then you don't have a gold trading system. XAUUSD trading systems must have rules which are written down within your xauusd trading plan.
Example of XAUUSD System below:
Writing Rules of a XAUUSD System- 1 hour Gold Chart Time frame Trading
You can come up with the above xauusd trading system using the steps below:
Choose your Chart Time Frame - 1 hour xauusd chart
Choose Indicators that identify a new trend - Moving Average Crossover System.
Finding entry and exit points
- Both MA pointing up
- RSI above 50
- Stochastic oscillator going up
- Both MA pointing down
- RSI below 50
- Stochastic oscillator going down
- MA gives opposite signal
- RSI gives opposite signal
Calculating risks in each trade - 20 pips
After using these steps we come up with the written xauusd trading system rules below.
Writing System XAUUSD Trading Rules
Example of How to Write The Best XAUUSD System Rules
This xauusd system produces the trading signals as shown below. Using these xauusd rules traders can determine when to enter and exit gold trades.
Generate Buy and Sell XAUUSD Signals using Written XAUUSD System Rules
We have completed writing the xauusd rules, if you are researching on how to create the best xauusd trading system, this learn xauusd tutorial is a good start to guide you on how to do just that. This is one part of a the xauusd trading plan. Now how do you create a complete xauusd trading plan? To read about XAUUSD Trading plan tutorial go to the right navigation menu of this website under XAUUSD Trading key concepts where you can find a link for this XAUUSD trade plan topic.