How would you like a forex robot that works, continues to work, is simple to understand, will outperform almost every sold robot and wont cost you a cent? If you do, read this article and you will discover it and can use it in your own forex trading strategy for bigger profits.
Let's be clear - forex robots have a bad reputation, as vendors sell them and put out simulated track records which mean nothing in terms of profitability. Sure, they make a profit on a back tested paper simulation but a kid can do that, trading in the real world is much harder!
The robots above have never made any real money the free one here has and its countless millions!
Now this robot has been at the heart of many of the best trading systems and used by some of the top traders in the world - but is so simple, you don't even need a computer to do the calculation!
The forex trading system we are going to look at was devised by one of the great traders - Richard Donchian who is considered the grandfather of modern trend following. The system was originally devised to trade commodities but works on ANY trending market and of course forex markets trend well and that's why the system works.
OK here is the system rule and the system name will give the rule away - it's called "The 4 Week Rule" and here it is:
Buy a new 4 week calendar high and sell a 4 week calendar low and always maintain a position in the market - that's it!
Simple? Sure it is - but test it and you will see, it makes fantastic long term gains and works on the following logic.
1. Most major trends start from new market highs or lows
2. Currencies trend longer term
Now that easy enough to understand, what you may not be able to get your head around is how such a simple system can make money. However, if you think about it a simple system will be more robust as it has fewer elements to break than a complicated one and all the best currency trading systems are simple - Simple is best and that's a fact.
The system does have a downside, all systems do and that's when markets trend it makes money - but when they are in periods of consolidation, it will get chopped and generate losses.
You can however add a filter and that's exit the market on a 1 or 2 week high or low, go flat and then wait for the next 4 week signal and this will smooth the equity curve.
You maybe thinking - can the above system really make money it's too simple as we said earlier but if you use it, your in good company, legendary traders such as Richard Dennis were fans and if it's good enough for him, it's good enough for you.
Simple yes, but look at this system further - understand it, trade it and it could lead you to spectacular forex trading success in just 15 minutes a day or less.
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