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