EURGBP System - What is the Best EURGBP System?

EURGBP System Rules: EURGBP Strategy

To come up with a written EURGBP Forex system that generates the EURGBP buy & sell trade signals displayed below using the 1 hour EURGBP Forex chart.

This EURGBP Forex system refers to set of rules that you follow to manage your EURGBP trades. These EURGBP rules must be written down so as to guide you are trading the EURGBP currency pair. The following EURGBP system tutorial will show you how to write-down the rules of your EURGBP Forex 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 system when trading the EURGBP currency pair. This EURGBP Forex system must have rules which are written down within your EURGBP Forex plan.

EURGBP Forex system below:

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

You can come up with the above EURGBP system using the steps below:

Step 1:

Choose your Time Frame - 1 hour EURGBP chart

Step 2:

Choose Indicators which spot a new trend on EURGBP chart - MA Cross over System.

Step 3:

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

Step 4:

Finding entry and exit points

Buy EURGBP Signal

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

Sell EURGBP Signal

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

Exit

1. Moving Average gives opposite signal
2. RSI gives opposite signal

Step 5:

Calculating risks in each EURGBP FX trade - 20 pips

Step 6:

Write down the EURGBP Forex system rules

Step 7:

Test the EURGBP system on a practice practice account

After using these guide-lines we come up with the written EURGBP Forex system rules below.

Writing EURGBP System Forex Rules

Example of How to Write EURGBP System Rules

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

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

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