Day Trade 30 Minute Trading System is a trend following forex trading system which can be a very useful tool for the short term intraday traders. The Day Trade 30 Minute forex trading system comprises of very simple and popular technical indicators yet they are very powerful. They are powerful in a sense that these indicators provide highly accurate trading signals. You should not expect Day Trade 30 Minute forex trading system to work all the time because such system never existed. Any trading system with winning ratio of 60% or more is great. To be deadly honest, a trader can make money even when he/she has win ratio of 50%. Risk to reward ratio is the main thing here. If your target is always higher than your risk, you will ultimately win even if you lose 50 times out of 100.
Day Trade 30 minute Trading System Overview
|Time Frame||Currency Pairs||Number of Indicators||Rating|
|30 minute||Major pairs||3||9.5|
Once you are done with installing Day Trade 30 Minute Trading System in your metatrader 4, your chart should look like this:
As you can see above Day Trade 30 Minute trading system consists of three types of indicators only. There is more than a dozen of moving averages but they serve the same work. Let me show you the indicators used in this forex trading system.
Day Trade 30 Minute Trading System Indicators Overview
|Main Chart||Window 1||Window 2|
- Moving Averages
There are 16 moving averages use in this forex trading system. The shortest moving average used is a 6-period moving average and the longest moving average used is 21-period moving average. There are remaining moving averages between them. All these moving averages combined together produce a very clear trading signal.
RSI simply helps you to know the strength of the prevailing trend of the market. When you are looking for the long opportunity RSI should be rising and vice versa. We will not be focusing on the overbought and the oversold aspect of the RSI here.
You can see MACD histogram moving in positive and negative territory. The trading signals generated by the moving averages are confirmed by the MACD.
Day Trade 30 Minute: Buy Parameters
- Currency pair should be up trending.
- Currency pair should be bouncing from the recent support level.
- Market price should be above all the moving averages.
- RSI indicator should be in an increasing trend.
- MACD histogram should be in positive territory.
- Place your long position as soon as above conditions are met.
- Place your stop loss below the recent support level.
- Book your profits when market price closes below all the moving averages.
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Day Trade 30 Minute: Sell Parameters
- Currency pair should be down trending.
- Currency pair should be falling from the recent resistance level.
- Market price should be below all the moving averages.
- RSI indicator should be in a decreasing trend.
- MACD histogram should be in negative territory.
- Place your short position as soon as above conditions are met.
- Place your stop loss above the recent resistance level.
- Book your profits when market price closes above all the moving averages.