You can buy a Forex robot but the ones you see heavily advertised online but they don’t ever deliver the gains they say they can and most deliver an equity wipe out. The good news is you can get a free trading system, that has worked for a quarter of a century and will continue to work. Let’s take a look at it in more detail…
Before we look at our great system, let’s see why you should avoid the ones sold online.
Most of the systems sold rely on back tests or simulations, as the basis for their track records so simply made up knowing the closing prices. Of course this is easy but you don’t get the closing price in advance, when you trade in real time!
Some system vendors produce real track records but they are not independently tracked, you have to take the word of the vendor and personally, I would be happier with an independent audit.
Of course saying you can double your profits every month, with no real drawdown is not true due to the nature of Forex markets where you cannot predict what will happen next. No system has ever doubled profits every month over the long term.
So what gains can you expect with the best Forex Robots?
It depends on the risk you wish to take but the best will turn in solid gains of 30 – 100% annual profits and this is a great return on your investment.
Now let’s look at a free automated Forex trading system, it’s called the 4 Week Rule and its free for everyone to use and left by Richard Donchian one of the true legends of trading and the grandfather of modern trend following.
The system is incredibly simple. Here is the rule.
Buy a currency on a break to a new 4 week high and hold. Close the trade on a new 4 week low and go short. Always maintain a position in the market and keep buying and selling new 4 week highs and lows.
It’s simple, objective and works, here’s why…
Currency markets trend long term and most of the trends start and continue from new price highs and lows. If you use the above system, you will catch every major move and get in on all the major trends.
Don’t be deceived by the systems simplicity, that’s its strength. Simple systems work best, as they are more robust than complicated ones, with fewer elements to break.
The 4 week rule has been at the heart of many successful Forex trading strategies, for over 25 years.
Most traders won’t use it though, they prefer systems, with catchy names, glossy packaging and exaggerated claims, despite the fact they don’t ever produce the gains they claim.
So if you want a logical, simple forex trading system, that actually makes money, then the 4 Week Rule could make you huge profits long term, in around 30 minutes a day. Its Free, so test it out and you will surprised at just how much money it makes.