Here I am going to give a complete forex trading system - It's simple to understand and you can after reading this article, you will have all the details you need...
Automated forex trading systems or robots have a bad reputation and this is due to the huge amount that are sold on line with made up track records which are paper simulations - they have never been traded and don't work.
Now while this system is free, it has worked and will continue to work.
It has made countless millions for savvy traders all over the world, for over 20 years and even trading legends as Richard Dennis were huge fans, so you know you are in good company if you use it.
The system was devised by one of the great traders of modern times - Richard Donchian.
It's simple and effective and here it is - it's called "The 4 Week Rule" and the rule of this forex robot is.
Maintain a constant position in the market at all times and buy a new calendar 4 week high, then when a four week low is hit, stop and reverse and then do the same on the next 4 week high.
That's it! How simple is that? VERY. Does it make money, yes longer term it does and is based on simple logic which is:
1. Forex markets exhibit long term trends which last for weeks, months or in some instances years and this system will put you on the right side of every major forex trend.
2. It's based on breakout methodology which, is based simply on the logic that most major trends start and continue, from new highs or lows.
Do not think just because its simple it won't work it does.
Simple forex trading systems are always best, as they are robust in the face of brutal market conditions.
Its only downside is when markets don't trend it will get chopped incur drawdown, as all trend following systems do - but you can add a filter.
When you take a 4 week trading signal, exit on a 1 or 2 week low or high and then re-enter on the next 4 week signal.
This will smooth the equity curve.
Now most traders won't use it, despite the fact it makes money here's why
1. Its brutally objective, you have to take the signals as given and many traders have a problem following mechanical signals - others like it for this, so its an advantage or disadvantage.
2. It's not fussy about perfect market timing. You can pick exact market tops and bottoms but most traders are obsessed with it.
3. It doesn't require much time. You would think this would be an advantage and it is -but most traders like to trade all the time and if you like (excitement as most traders do), then this system would not be for you, if of course you just like making money - it's great!
A System For Long Term Gains
This forex trading system is free and has made millions and stood the test of time and the logic it is based on never goes out of date - currencies will always trend long term and breakout methodology works.
If you are interested in making money from forex trading, then you should consider the 4 Week Rule - it works and will continue to work and you can be making big long term profits in less than 30 minutes a day.
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