This trading strategy involves using the 9 and 21 exponential moving averages (EMAs) along with the central pivot range (CPR) to make informed trade decisions. Initially, you must configure your trading platform by setting up your account, enabling charting tools, and integrating key indicators like the 9 and 21 EMAs and CPR. Customizing the appearance of these tools can enhance visibility, while testing with historical data ensures the setup's accuracy.
Next, the strategy focuses on developing and testing a plan by observing EMA and CPR interactions within a selected market. Entry criteria involve trading when the 9 EMA crosses above the 21 EMA, while exit criteria are based on a crossover in the opposite direction. This involves backtesting to analyze the strategy's effectiveness and practicing using a demo account to refine the approach.
Finally, continuous monitoring and refinement are essential. It's crucial to keep a trading journal for performance evaluation, set alerts for significant indicators like EMA crossovers, and maintain discipline by following predefined criteria. Engaging with trading communities and remaining informed about market trends can provide additional insights.
The strategies
⛳️ Strategy 1: Configure your trading platform
- Set up your trading account with your chosen platform
- Enable charting tools on the platform
- Add the 9 EMA to your trading charts
- Add the 21 EMA to your trading charts
- Apply central pivot range (CPR) indicators to your chart
- Customise the appearance of EMA and CPR for better visibility
- Familiarise yourself with the charting interface
- Save your default chart settings for future use
- Ensure notifications are set up for key indicator thresholds
- Test the setup with historical data to ensure proper configuration
⛳️ Strategy 2: Develop and test the trading strategy
- Identify the market and time frame for trading with EMA and CPR
- Review historical price data to observe EMA and CPR interactions
- Develop criteria for entering trades when 9 EMA crosses above 21 EMA
- Establish criteria for exiting trades when 9 EMA crosses below 21 EMA
- Create a trading plan using CPR levels for support and resistance
- Backtest the strategy using historical data to measure effectiveness
- Analyse results and adjust strategy based on backtesting outcomes
- Use a demo account to practice the strategy in real-time conditions
- Document all trades, insights, and strategy adjustments
- Define risk management rules including position sizing and stop-loss
⛳️ Strategy 3: Monitor, refine, and execute the plan
- Regularly monitor the charts for any trading signals
- Keep a trading journal to track performance and decisions
- Refine the strategy based on ongoing trade analyses
- Set alerts for EMA crossovers and CPR breaks
- Ensure you follow predefined trading criteria and do not deviate
- Assess trading outcomes at regular intervals (daily or weekly)
- Revisit the risk management plan as necessary
- Stay informed about market news related to your chosen assets
- Join trading communities for insights and shared experiences
- Continuously educate yourself on new trading techniques and tools
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
