EURCHF System - What is the Best EURCHF System?

EURCHF Strategy Rules: EURCHF Strategy

To come up with a written EURCHF system that generates the EURCHF buy and sell trade signals shown below using the 1 hour EURCHF chart.

This EURCHF system refers to set of rules that you follow to manage your EURCHF trades. These EURCHF rules must be written down so as to guide you are trading the EURCHF currency pair. The following EURCHF system tutorial will show you how to writedown the rules of your EURCHF system.

The key-word is SET OF RULES which you must follow. If you don't follow the rules then you don't have a trading system when trading the EURCHF currency pair. This EURCHF system must have rules which are written down within your EURCHF plan.

EURCHF system below:

Writing Rules of a EURCHF System - 1 hour EURCHF Chart Time frame Trading

You can create the above EURCHF system using the steps below:

Step 1:

Choose your Time Frame - 1 hour EURCHF chart

Step 2:

Choose Indicators which spot a new trend on EURCHF chart - Moving Average Cross-over System.

Step 3:

Select Indicators which confirm the trend on EURCHF chart - RSI, Stochastic Oscillator

Step 4:

Finding entry & exit points

Buy EURCHF Signal

1. Both MA pointing up on EURCHF chart
2. RSI above 50
3. Stochastic oscillator going up

Sell EURCHF Signal

1. Both MA pointing down on EURCHF chart
2. RSI below 50
3. Stochastic oscillator going down

Exit

1. MA gives opposite signal
2. RSI gives opposite signal

Step 5:

Calculating risks in each EURCHF trade - 20 pips

Step 6:

Write down the EURCHF system rules

Step 7:

Test the EURCHF system on a practice account

After using the guide-lines we come up with the written EURCHF system rules below.

Writing EURCHF System Forex Rules

Example of How to Write EURCHF System Rules

This EURCHF system produces the EURCHF buy and EURCHF sell signals as illustrated below. Using these EURCHF rules traders can determine when to open buy trades, when to open sell trades and when to close open trades.

Generate EURCHF Buy and EURCHF Sell Signal using Written EURCHF System Rules

We have finished writing the rules of our EURCHF system, if you are researching on how to create the best trading system, this tutorial is a good start to tutorial you on how to do just that. This is one part of a the EURCHF trading plan and the next tutorial is how do you create a complete writing the EURCHF trading plan?