Daily Chart Strategy
Daily Time-Frame Trading
An example of Daily Indices Simple System - that's a combination of:
- Moving Average Cross Over Strategy
- RSI Indicator
- MACD Indicator
Daily Example Strategy Rules are:
Daily Chart Strategies Methods - Daily Example Strategy - Daily Time Frame Strategy
Indices Rules: Daily Time Frame Strategy - Daily Indicators - Daily Indices Simple System
Buy Signal is Generated when: - Daily Timeframe Strategy - Daily Indicators
- Both moving averages moving up
- RSI value is above 50
- MACD above center line
Sell Signal is Generated when: - Daily Timeframe Strategy - Daily Indicators
- Both moving averages moving down
- RSI value is below 50
- MACD below center line
Daily Timeframe Strategy - Daily Timeframe Trading - Daily Indicators - Daily Indices Simple System
Exit Signal - Daily Chart Strategy
Exit signal is generated when MAs, RSI & MACD indicators give a signal in opposite direction.
The chart timeframe to use is Daily chart time frame.
For a beginner trader wanting to come up with a Daily Chart Strategy the above written rules will give a good example template of a Daily Chart Strategy that can be used to generate buy and sell signals - Daily Chart Strategies Methods - Daily Example Strategy - Daily Time Frame Strategy - Daily Timeframe Trading - Daily Indices Simple System.
Back Testing - Daily Chart Strategy - Daily Chart Strategies
Generating Signals with this Daily stock system is the best strategy that a beginner trader can attempt to determine the market trend and with a little back-testing on practice account so as to test this Daily Indices System
The best way to back test a strategy is by following these two steps:
- Indices Paper Trade your Daily Indices Simple System
- Stock Demo Trade your Daily Indices Simple System
A good tool to use to back-test your Daily Indices Simple System is known as the MT4 Indices Step by Step Tool. Found in the MT4 charts toolbar of MT4 platform, If you want to find the chart tool bar in MT4 platform it is at the top of the MetaTrader 4 platform. If it is not: Click View (next to file, top-left corner of MetaTrader 4)>>> Tool Bar >>> Charts. Then click Customize button key >>> Select Indices Step by Step >>> Click Insert >>> Close.
Meta Trader 4 Daily Chart Tool Bars - How to Trade Daily Chart for New Traders
Meta Trader 4 Indices Step by Step Button for Daily Chart Strategy - Daily Chart Strategy - Daily Chart Strategies Methods
Once you get this Meta Trader 4 tool you can move your Daily chart backwards, & use this Meta Trader 4 trading step by step button to move the Daily chart trading step by step while at the same time testing when your Daily indices simple system would have generated either a buy or sell signals, & where you would have exited the trades, then write-down the amount of profit or loss per trade transactions made using the Daily Chart Strategies and out of a sample number of trade transactions you would then calculate the overall profits and losses generated by the Daily Chart strategy - Daily Chart Strategy - Daily Example Strategy.
If your Daily indices strategy is profitable on paper then, it's time to demo trade and test if the Daily Chart Strategy is profitable on the real market as it is on paper method. This is the process of back-testing the Daily Chart Strategy.
Maintain a Journal to keep track of profitable trades, and determine why these trades were profitable. And also keep record of all losing trades, determine why these trades made a loss and the avoid making these same mistakes the next time you trade using your Daily Chart Strategies.
Tweak your indices system until you get a good risk:reward ratio, with signals that you generate. Aim for a good risk: reward of 3:1 & use indices money management rules & read the topic about: Risk : Reward Ratio - Daily Chart Strategy - Daily Chart Strategies Methods - Daily Example Strategy.
Daily Chart Strategies Methods - Daily Example Strategy
Stock Money Management Strategies Methods Tutorial Guide
What's a Trade Plan? - Written Plan Example Template
Alternatives: Automated EA Trading or Copy and Paste Signals
