XAUUSD System Rules: Write Down The Rules and Follow Them
We shall use the previous steps to create a written xauusd trading system that generates the trade signals shown below using the 1 hour chart. We shall use the 1 hour xauusd chart to write the rules of this xauusd strategy - xauusd system.
A xauusd system refers to a set of written gold rules that you follow to manage your trades. These rules must be written down so as to tutorial you. The following learn xauusd tutorial will show you how to writedown the rules of your trading system.
The keyword is a SET OF XAUUSD RULES which you must follow. If you don't follow the xauusd rules then you don't have a gold trading system. Trading systems must have rules which are written down within your xauusd trading plan.
Example of XAUUSD System below:
Writing Rules of a XAUUSD System- 1 hour Gold Chart Time frame Trading
You can come up with the above xauusd system using the steps below:
Step 1:Step 2:Choose your Chart Timeframe - 1 hour chart
Step 3:Choose Technical Indicators that identify a new trend - Moving Average Crossover System.
Step 4:Select Technical Indicators which confirm the xauusd trend - RSI, Stochastic
Step 5:Finding entry & exit points
Long Entry
- Both Moving Average pointing up
- RSI above 50
- Stochastic oscillator going up
Short Entry
- Both Moving Average pointing down
- RSI below 50
- Stochastic oscillator going down
Exit
- MA gives opposite signal
- RSI gives opposite signal
Step 6:Calculating risks in each trade - 20 pips
Step 7:
After using these steps we come up with the written xauusd system rules below.
Writing System XAUUSD Trading Rules
Example of How to Write the Best XAUUSD System Rules
This system produces the signals as shown below. Using these xauusd rules traders can determine when to enter and exit trades.
Generate Buy & Sell XAUUSD Signals using Written XAUUSD System Rules
We have completed writing the xauusd rules, if you are researching on how to create the best xauusd system, this learn xauusd tutorial is a good start to guide you on how to do just that. This is one part of a the xauusd trading plan. Now how do you create a complete xauusd trading plan? To read about XAUUSD Trading plan tutorial go to the right navigation menu of this website under XAUUSD Trading key concepts where you can find a link for this XAUUSD trade plan topic.