Daily Chart Strategy - Daily Chart Strategies
Daily Time Frame Strategy - Daily Time Frame Trading - Daily Simple System
An example of Daily Simple System - that's a combination of:
- Moving Average Crossover Strategy
- RSI
- MACD Indicator
Daily Example Strategy Rules are:
Day Chart Strategy - Daily Chart Strategies
Forex Rules: Daily Time Frame Strategy - Daily Simple System
Buy Signal is Generated when: - Daily Time Frame Strategy
- Both moving averages moving up
- RSI value is above 50
- MACD above center line
Sell Signal is Generated when: - Daily Time Frame Strategy - Daily Indicators
- Both moving averages moving down
- RSI value is below 50
- MACD below center line
Daily Time Frame Strategy - Daily Time Frame Trading Simple System
Exit Signal - Daily Chart Strategy
Exit signal is generated when MAs, RSI and MACD give a trade signal in opposite trade direction.
The chart time frame to use is Daily chart time frame.
For a beginner trader wanting to come up with a Daily Chart Strategy the above written rules will give a good example template of a Daily Chart Strategy that can be used to generate buy and sell signals - Daily Chart Trade Strategies - Daily Example Strategy - Daily Time Frame Strategy - Daily Time Frame Trading - Daily Simple System.
Back Testing - Daily Chart Strategy - Daily Chart Trading
Generating Signals with this Daily system is the best technique that a beginner can attempt to determine the market trend and with a little back-testing on practice trade account so as to test this Daily Strategy
The best way to back-test a strategy is by following these 2 steps:
- Forex Paper Trade your Daily Simple System
- Demo Trade your Daily Simple System
A good tool to use to backtest your Daily Simple System is known as the MT4 Step-by-Step Tool. Found in MetaTrader 4 charts tool-bar of MT4 software, If you want to find the chart tool bar in MT4 software it is at the top of MT4 software. If it is not: Click View (next to file, top left corner of MetaTrader 4)>>> Tool Bar >>> Charts. Then click Customize button key >>> Choose Step-by-Step >>> Click Insert >>> Close.
Meta Trader 4 Daily Chart Tool-Bars - How to Trade Daily Chart for New Traders
Meta Trader 4 Step by Step Button for Daily Chart Strategy - Daily Chart Strategy - Daily Chart Strategies
Once you get this MetaTrader 4 tool you can move your Daily chart backwards, & use this MetaTrader 4 forex step by step button to move the Daily chart step by step while at the same time testing when your Daily simple system would have generated either a buy or sell signals, and where you would have exited the trades, then write down the amount of profit or loss per trade transactions made using the Daily Chart Strategies & out of a sample number of forex trade transactions you would then calculate the overall profits and losses generated by the Daily Chart strategy.
If your Daily strategy is profitable on paper method then, its time to demo trade & test if the Daily Chart Strategy is profitable on the real market as it's on paper method. This is the process of back-testing Daily Chart Strategy.
Maintain a Journal to keep track of profitable trades, & determine why these trades were profitable. And also keep record of all losing trades, determine why these trades made a loss & the avoid making these same mistakes the next time you trade using your Daily Chart Strategies.
Tweak your forex system until you get a good risk: reward ratio, with signals that you generate. Aim for a good risk: reward of 3:1 and use forex equity management guidelines & read the tutorial about: Risk : Reward Ratio - Daily Chart Strategy - Daily Chart Trade Strategies - Daily Example Strategy.
Day Chart Strategy - Daily Chart Strategies
