Gold Strategy Rules: Write Down The Rules & Follow Them

We shall use the previous steps to come up with a written gold system that generates the trade signals displayed below using the 1 hour chart. We shall use the 1H chart to write the guide-lines of this gold trading strategy - system.

A trading system refers to a written set of written gold rules that you follow to manage your trades. These rules must be written down so as to guide you. The following tutorial will show you how to write-down the rules of your system.

Keyword is a SET OF RULES which you must follow. If you don't follow the rules then you don't have a trading system. Trading systems must have guide-lines which are written down within your gold plan.

Example of Trading System below:

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

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

Choose your Chart Timeframe - 1H chart

Select Indicators that spot a new trend - MA Cross Over System.

Select Technical Indicators which confirm the trend - RSI, Stochastic

Finding entry & exit points

Long Entry

1. Both Moving Average pointing up
2. RSI above 50
3. Stochastic oscillator going up

Short Entry

1. Both Moving Average pointing down
2. RSI below 50
3. Stochastic oscillator going down

Exit

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

Calculating risks in each trade - 20 pips

Write down the trade system Gold rules

Test the system on a trading practice account

After using these steps we create written gold system rules below.

Writing Trading System Gold Rules

Example of How to Write the Best Gold System Rules

This trading system produces the signals as illustrated below. Using these rules traders can determine when to enter and exit trades.

Generate Buy & Sell Gold Signals using Written System Rules

We have completed writing the guide-lines, if you are researching on how to create the best gold system, this 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 key concepts where you can find a link for this Gold trade plan topic.