Yes it does and it's made countless millions, for savvy traders all over the world and beats most of the forex robots sold. In this article, we will show you how and why it works and why this free Forex trading, could bring you currency trading success...
This system has been around since the late seventies and has stood the test of time and is still used by pro traders today. The system was devised by trading legend Richard Donchian and its incredibly simple - don't let that put you off though, all the best currency trading systems are.
Lets take a look at the rule that you need to apply and its totally objective all you do is place the trading signal.
Buy a breakout to new 4 week calendar high and then stop and reverse the position on a 4 week low. Keep reversing on 4 week highs and lows and always have a position open in the market.
That's the system and you won't get much simpler than this one - but if you think about it, it's based on very sound market logic which is the following.
Most big trends in the currency markets start and continue from new price highs or lows, it's therefore based on breakout methodology that works and will continue to work as long as markets trend.
The other point with the system is it holds trends a long time. It's a fact that most Forex trends last a long time and you can check your forex charts and see- trends last for week's, months or in some instances years and this has always been so.
Get in on Every Major Trend
What you have is a system, that while it does not go for pinpoint timing, will get you in and help you hold all the major big trends.
If you test the system, you will see just how profitable it can be and its simplicity is a huge advantage, making it very robust in the face of brutal and ever changing market volatility.
Another advantage of the system is the entry and stop are set, you simply follow the rule. You don't even need a PC to do the calculation you can do it in your head and it will take you around 15 minutes a day to execute your trading signals. So it's very time efficient.
It Beats Most Sold Robots as Well!
Most sold robots never come with real track records and there always a back test. Simulated in hindsight. That's not the real world of trading; you don't get the luxury of knowing the closing price in the real world. This system on the other hand has been used by serious traders and made a lot of money in real trading.
Smoothing the Equity Curve
You can add filters to this free forex trading system to smooth the equity curve and they are discussed in our other articles so look them up but in raw form or with a filter the system makes long term profits and if you want to make money, then you will really like it - simple to understand, apply, timeless logic, profitable and free and its not often you get that.
Warning! and the Way to Make it Work for You!
A word of warning is this system takes discipline to follow and you need to have faith it will lose for periods (all systems do) and its hard to sit on long term trends due to equity dips but if you can follow it with discipline, this free forex trading system can be a great addition to your forex trading strategy and enhance your chances of currency trading success.
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