.
NEW YORK
18:55
LONDON
23:55
PARIS
00:55
FRANKFURT
00:55
HONG KONG
05:55
TOKYO
07:55
SYDNEY
08:55
  • Trade Now

Day Trading System

Written by ForexCult Team
Rate this item
(0 votes)
Day Trading System It has been said that the best day trading system is indeed still a mystery that has yet been solved. However, there are plenty of reasons to believe that a day trading system must actually match the trader’s individual personality in order to be successful in the day trading. The fact that in which a trading system works by a trader’s personality is known to be very true and that is important for you to know as the trader so that you are able to successfully make it in the market. There are a couple of day trading systems that I would like you to know about and I am going to discuss them a little more in the next couple of paragraphs. One Type of Day Trading System The first type of day trading system that I am going to tell you about is the bounce trading system with a moving average. This particular type of system uses what is known as the timeframe that is short term not to mention that it also using what is known as the single exponential moving average, this system actually trades the price that is moving against it also known as reversing and the actually bouncing back off of the actual moving average. It is known that moving averages do indeed level out the price and as the effect the fluctuations that are short term are then removed and then the direction overall is shown. You will notice that when the price enjoys a move that is strong, it will then have a urgency to actually retrace the steps back to the average of the moving but then the price continues on the with the original moves and it is that particular fluctuation that is transported by the moving average bounce actual trading system. The actual default trade actually uses a one to five minute “OHLC” chart known as a bar chart. It also has a thirty four bar moving average exponential of what is known as the HLC. However, both the timeframe of the chart and also the moving average exponential length can indeed be adjusted so that they will be able to match different markets. What is known as the default trading time is actually when the actual market is known to be most active? The times when you can see this is during European Open which takes place between eight AM , and also when the United States open at nine thirty AM Eastern Standard Time. Zero Line Cross Day Trading System In case you are unaware of the zero line cross day trading system, it is important that you know that it uses what is known as a timeframe short term which includes a CCI that is long term, and also a moving average with a single exponential. The whole system is actually based upon what is known as the CCI and actually crosses over what is known as the zero line, when the actual price is located on the side of the moving average. You should know that the CCI actually really shows the momentum that the price has as a value which is either below or above zero. It is known that when the CCI is located above zero that the price is in an upwards rise and when the CCI is located beneath the zero line the actual price is in a downward fall. However when the CCI is shown level with the zero line the actual motion of the price is changing from one direction to another direction. This system uses the switching of direction as an entry point and it also uses the price comparing it to the moving average in order to complete a direction confirmation. The Importance of a Day Trading System Although, it is unknown what system will work the best for you it is important that you choose a system to work with. There are a couple of systems out there that are available to you for you to use, all you have to do is take the time to study each one of the system and see what system works best for you. It is important that you know what your trading personality is so that you can compare it to your system. It is best to find a system that matches your personality, if you pick a system that works well with your personality that is just one factor that will be working with you instead of against you in the market when you trade. You can find different types of systems on the internet and you can also learn about them as well. A day trading system can help you to succeed in trading and if you don’t pick out one for you a day trading system can also determine if you fail or not.

Add comment



Currency converter
Amount:
From:
To:


Polls

Which is the Best Forex Broker you have traded with?

Interview with Matthew Sheppard

Senior Forex Advisor at XForex


1. What is your name and position?

Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?

In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?

We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?

Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?

Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..

Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?

My advice to the beginning trader entering the Forex world is as follows:
  • Learn the market and understand what you’re getting into.
  • Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
  • Invest smartly and calculate your risks.
  • Always know when to get out of a trade.

Broker of the Month

5_small_logoUFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease.

By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.