subject: Free Forex Trading System - This System Has Made Millions For Savvy Traders and Costs Nothing! [print this page] Author: Kelly Price
The free Forex trading system we are going to look at here, has been used by savvy traders since the late seventies, to pile up huge profits and not only is it profitable, its free, has easy to understand logic and is totally objective - let's take a look at it.
There are numerous Robots for sale for around $200 which all promise they can make you huge gains, with low drawdown but they all have a problem - they don't work! The reason they don't work is there simply simulations over past data and it's easy to make money, knowing the closing prices. The free Forex trading system we will look at here, has made real money and is based on timeless logic.
If you look at Forex charts, you will see that all the big major trends start and continue, from breakouts to new market highs and lows and these trends can last a long time. The system enclosed is based on trading breakouts and focusing on the long term trends.
The system was devised by trading legend Richard Donchian and he left it for any trader to use. You can learn how to use the system in just a few minutes and it only has one single rule - here is the rule:
When a currency breaks out to a new 4 week high - Buy it; then hold the position, until a 4 week low is made and then, reverse the position and go short, you then wait for further new 4 week highs and lows to be hit and keep reversing the position.
Now you are probably thinking, that sounds to easy to make money but if you try the system, you will see it makes huge gains. All the best systems are simple and this ones simplicity is its strength, its robust and will always make money as long as markets trend long term and that will always happen.
Most traders won't even consider though even though the real pro's use it; they prefer to believe they can make money with no drawdown, with a cheap Forex robot and lose. They cannot see that to make money in Forex, you need to accept short term losses sure, you can win long term but you must accept short term dips in equity - all the best systems have drawdown, its a fact of life in Forex trading!
If you want a long term trading system which makes you a lot of money, you should consider the free system above, it's called the 4 Week Rule and its a free Forex trading system anyone can use to make bigger profits.About the Author:
