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