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Trading the 1-Day - Silver 3 Trading Plan

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Trading the 1-Day - Silver 3 Trading Plan

Any thoughts on this?


1-Day chart with the following indicators:

  • MACD (12,26,9)
  • Momentum(10)
  • EMA(30)

30-Minute chart with the following indicators

  • HMA(200)
  • HMA(5)
  • Bands(20,2)

SELL –    MACD histogram is down from previous day

               Momentum < 100

                EMA is down (this is not a qualifier for entry but good for confirmation)

BUY –    MACD histogram is up from previous period

               Momentum > 100

                EMA is up (this is not a qualifier for entry but good for confirmation)


Trade Entry Point

Use the 30-minute chart to confirm entry point

  • MACD histogram confirms trade (BUY/SELL)
  • HMA(30) confirms trade direction
  • Upper and lower Bands show volatility
  • HMA(5) turns to the direction of the trade


Enter the position with stop loss of 40 PIPs. Trade without specifying the Take Profit.

Quantity is at the discretion of the trader and the size of the account.


Trade Management

Periodically monitor the trades for trends that go against your position.

If the trade starts going against the trend, determine if this is a short-term turn or an indication of a trade going against the direction selected by the trader. Also evaluate the upper and lower Bands for a reduction in volatility.

  • 30-MInute MACD histograms going against the trade
  • 30-Minute HMA(5) going against the trade
  • 30- Minute Momentum changing direction.
  • 1-Day EMA changing direction


Trade Exit

If the trade goes in the expected direction, try to determine the exit point by evaluating indicators for a change in direction on the indicators.

                30-Minute bands showing reduced volatility

                Price approaching resistance or support levels

                1-Day EMA showing a reversal


If the trade is going against the position determine if the turn is short-term and will be reversed or the price is trending against the trade. Also, evaluate previous resistance and support levels and determine an appropriate point to exit the position.

Thu, 12/20/2018 - 10:21am