Day Chart Strategy - Example Day Strategy
Day Time-Frame Strategy - Day Time-Frame Trading
An example of Day Simple System - that is a combination of:
- MA Crossover Strategy
- RSI Indicator
- MACD
Day Example Strategy Rules are:
Day Chart Strategy - Day Chart Strategies
Trading Rules: Day Time-Frame Strategy - Day Trading Indicators - Day Simple System
Buy Signal is Generated when: - Day Time Frame Strategy
- Both Moving Averages moving up
- RSI value is above 50
- MACD above center line
Sell Signal is Generated when: - Day Time-Frame Strategy - Day Indicators
- Both MAs moving down
- RSI value is below 50
- MACD below center line
Day Time-Frame Strategy - Day Time-Frame Trading - Day Simple System
Exit Trading Signal - Day Chart Strategy
Exit signal gets generated when Moving Averages, RSI & MACD indicators give a trade signal in the opposite trend direction.
The chart time frame to use is Day chart time frame.
For a beginner trader wanting to come up with a Day Chart Strategy the above written rules will give a good example template of a Day Chart Strategy that can be used to generate buy & sell signals - Day Chart Strategies - Day Example Strategy - Day Time-Frame Strategy - Day Time-Frame Trading - Day Simple System.
Back Testing - Day Chart
Generating Signals with this Day trading system is best technique that a trading beginner trader can attempt to ascertain market trend & with a little back testing on practice trading account so as to test this Day Strategy
The best way to backtest a strategy is by following these 2 steps:
- Paper Trade your Day Simple System
- Demo Trade your Day Simple System
A good tool to use to back-test your Day Simple System is referred to as the MetaTrader 4 Step by Step Tool. Found in MetaTrader 4 charts toolbar of MT4 software, If you want to find the chart toolbar on MetaTrader 4 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 >>> Select Step-by-Step >>> Click Insert >>> Close.
Meta Trader 4 Day Chart Tool Bars - How to Trade Day Chart for New Traders
Meta Trader 4 Step by Step Button for Day Chart Strategy - Day Chart Strategies
Once you get this MetaTrader 4 tool you can move your Day chart backwards, and use this MetaTrader 4 step by step button to move the Day chart step-by-step while at the same time testing out when your Day simple system would have generated either a buy or sell signals, and where you would have exited the trades, then write the amount of profit or loss per trades made using the Day Chart Strategies & out of a sample number of trades you would then calculate the overall profits and losses generated by the Day Chart strategy.
If your Day trading strategy is profitable on the paper trading method then, its time to demo trade and test if the Day Chart Strategy is profitable on the real market as it's on paper method. This is the process of back testing the Day Chart Strategy.
Maintain a Journal to keep record of profitable trade transactions, & determine why these trades were profitable. And also maintain a journal of all losing trades, determine why these trades made a loss and the avoid making these same mistakes the next time you trade using your Day Chart Strategies.
Tweak your trading system until you get a good risk: reward ratio, with the signals that you generate. Aim for a good risk: reward of 3:1 and use money management principles & read the lesson about: Risk : Reward Ratio - Day Chart Strategy - Day Example Strategy.
Day Chart Strategy - Day Chart Strategies
