4 Example Templates of Gold Trading Systems
When creating your own xauusd system, there are a few things to keep in mind. Your xauusd strategy needs to be able to identify new XAUUSD market trends, while at the same time making sure you do not to get faked out - xauusd whipsaws. The real trick is, once you've created a xauusd trading system that works for you, stick to it. Being disciplined will help you a lot in becoming successful in xauusd.
Before trading XAUUSD on a live xauusd trading account, you have to figure out what xauusd strategy works for you. It's good to know in what chart time-frame you're going to be working in, & how much you're willing to risk once you start xauusd. All these factors should be factored in, and should be written down within your xauusd trading plan. A good place to test this xauusd plan would be on a free demo practice trading account. This is where you test your xauusd strategies risk free without investing money to determine which strategy is best suited for you.
So, now how can a trader like you create a "good xauusd system" or the "best xauusd trading system"?
To come up with the best xauusd strategy the first thing to do is to define your xauusd objective or goal:
The following examples shows a goal & explains the xauusd rules of how to achieve that goal
Gold System Goals
1.Identify a new xauusd trend
Moving average crossover strategy xauusd strategy is the most commonly used strategy to identify a new gold trend. Time to open a long or short trade is decided when 2 moving averages indicators cross over or cross under each other.
2.Confirm the new xauusd trend
Relative Strength Index(RSI) Indicator and Stochastic Oscillator Indicator are the most commonly used technical indicators to confirm a XAUUSD trend.
Indicator based XAUUSD System
The best type of a xauusd strategy is one that is indicator-based. You will find it straight forward to generate the xauusd signals and thus less error-prone on your part & this will help you to avoid market whipsaws.
There are several things we want to achieve when creating a system:
- Find entry points as early as possible.
- Find exit points securing maximum gains.
- Avoid fake entry & exit signals.
- Proper XAUUSD Money Management Tutorials
Accomplishing these 4 goals will result in a profitable xauusd strategy that works.
The last piece of information needed, is deciding how aggressive you are going to be when entering and exiting a trade. Those traders who are more aggressive wouldn't wait until gold chart candle closes & would enter as soon as their technical indicators match up. But most traders would wait until the xauusd chart candlestick of the chart time frame they are using has closed, to have more stability when entering a the gold trading market.
To get profits out of the xauusd market you need to build your own profitable xauusd system: a strategy that will generate profitable xauusd signals. You need to have your own xauusd strategy that will help you achieve your financial goals. Sometimes the best trading systems are the ones that you build on your own. No need to keep searching online for best xauusd trading systems or for xauusd trading systems that work, this web-site provides you with all the xauusd tools required to help you and guide you on how to create your own xauusd trading systems.
Below is an example of a XAUUSD trade system based on RSI, MACD & Stochastic.
XAUUSD System - Gold MetaTrader 4 Chart Templates XAUUSD Systems
The xauusd system example above is comprised of four technical indicators in total, all of these generate XAUUSD trade signals using different strategies, the moving average will generate xauusd signals using the moving average crossover strategy shown, the RSI indicator, Stochastic indicator & MACD indicator use different technical analysis to generate the long and short signals as shown in the above example. How to generate these trading signals is discussed in the next topic (on the sidebar navigation learn lessons menu under key concepts).
For beginner traders, it is difficult for them to create their own xauusd trading strategies since they do not have much knowledge about the xauusd market. However, this learn xauusd site will explain how a beginner trader can create their own free xauusd trading system in just seven easy steps. The best strategy is the one you come up with yourself & learn how to trade the xauusd market with it.
The main advantage of creating your own free xauusd trading systems is that you will know how to make profits by yourself - and not rely on other peoples efforts.
In the next lesson located at the sidebar navigation learn lessons menu below the xauusd key concepts will show you how to create a xauusd system like the one above, write it's xauusd rules & how to backtest the xauusd system on a practice practice gold trading account before using it on a live gold trading account.
Gold MetaTrader 4 Chart Templates Gold Systems
XAUUSD Strategy
The moving average indicator cross over strategy uses two moving averages to generate xauusd trading signals. First Moving average uses a shorter period and the second is a longer period.
Moving Average Crossover XAUUSD Method - Moving Average Crossover XAUUSD Strategy
This above xauusd strategy is referred to as the moving average cross-over strategy because xauusd trading signals are generated when the 2 averages cross above or below each other.
XAUUSD System Trading Example - Short & Long signal Generated by XAUUSD System
A buy signal or going long trade is generated when shorter moving average indicator crosses above the longer moving average indicator (Both Moving Averages Moving Up).
A sell signal or a going short trade is generated when shorter average indicator crosses below longer moving average indicator (Both Moving Averages Going Down).
Gold MetaTrader 4 Chart Templates Gold Systems
Stochastic Oscillator technical indicator can be combined with other indicators to form a xauusd system.
- RSI technical indicator
- MACD technical indicator
- Moving Averages gold technical indicators
Trading Systems Example - Gold MetaTrader 4 Chart Templates XAUUSD Systems
Short Signal or Sell XAUUSD Signal
How the short sell XAUUSD signal was generated
From our xauusd rules the short signal is generated when:
- Both Moving Averages are heading down
- RSI is below 50
- Stochastic heading downwards
- MACD moving downwards below centerline
The short signal was generated when all the written xauusd rules were met. Exit trading signal is generated when a gold signal in the opposite direction is generated.
The good thing about using such a xauusd strategy is that we are using different types of technical indicators to confirm the xauusd signals & avoid as many xauusd whip-saws as possible in process.
- Stochastic - xauusd momentum oscillator indicator
- RSI - xauusd momentum oscillator indicator
- Moving Averages Gold Trading Technical Indicator - xauusd trend following indicator
- MACD - xauusd trend following oscillator
Based on the chart time frame used - this strategy can be used as XAUUSD scalping system when the minute charts are used or as a XAUUSD day xauusd system when hourly charts are used.
Example 3: Trading System XAUUSD Example
This system is fully explained within the xauusd trading plan on the xauusd trading plan tutorial on this learn xauusd website under the key concepts section located on the right navigation menu.
Chart Time Frame
1 hour chart
Indicators that identify a new xauusd trend
Moving Average Crossover Trading Indicators Strategy
Indicators which confirm the xauusd trend
RSI indicator
STOCHASTIC OSCILLATOR technical indicator
Long Entry - Buy Signal
1. Both MA(moving averages) pointing up
2. RSI above 50
3. Both stochastics going up
Short Entry - Sell Signal
1. Both Moving Average pointing down
2. RSI below 50
3. Both stochastics going down
Exit Signal
1. Moving Average Trading Indicator gives opposite signal
2. RSI gives opposite signal
Risk Management in Gold Trading
Stop loss- 35 pips
Take Profit XAUUSD Order - 70 pips
Reward to Risk 2:1
Example 4: New Gann Swing XAUUSD Trading Chartist Plan
The Gann Swing Oscillator is meant to be used in combination with the Gann HiLo Activator & Gann Trend to form a complete xauusd strategy commonly referred to as the - "New Gann Swing Chartist Plan". Within this xauusd strategy the Gann Swing Oscillator is used to help determine xauusd market swings for trading only within the current xauusd trend is shown by the Gann Trend.
Below is the example of New Gann Swing Chartist Plan
The Gann Chartist Plan - XAUUSD Systems - Gold MetaTrader 4 Chart Template XAUUSD System
