Have you been searching for the best proven Forex trading strategies? There are automatic and manual ways of making money from the Forex markets. Although I use automatic software to do my trading today to make consistent profits, I will discuss a manual strategy that works very well and makes money consistently for me as well.
1. The Richard Donchian's 4 Week Rule
Richard Donchian is a great trading legend, and his 4 week rule system has helped thousands of traders make millions of dollars in their trading careers.
2. Steps Of This Proven Forex Trading Strategy
This trading system may seem very simple, but is actually very accurate and profitable. You simply go long when the price of the currency pair goes higher than all the highs of the last 4 weeks, and go short when the price goes below the lows of the last 4 weeks.
3. Logic Of The 4 Week Rule
This is a long term trend system that makes money. It works very well in a trending market like the Forex. Traders who have not tried it dismiss it because they believe in trendy and complicated systems. History has proven than most major price uptrends start from new market highs rather than market lows. This goes against the common practice of buying when the price is low and selling when the price is high.
4. When Should You Exit?
You should exit your position in 2 week cycles or you might lose a lot of money in a sideways market. Exit your position in 2 week cycles and continue looking for a new 4 week signal after that. Nowadays, I use a trading software that trades Forex and makes money for me automatically. You can find out more about it at the website link below.
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