GBP/USD trading times - T2W Day Trading & Forex Forums

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GBP/USD trading times - T2W Day Trading & Forex Forums

Hi all I live in Perth aussie and find trading uk suits me as ... Also dose anyone know how accurate they are trading forx. ... FXCM Forex Trading: IG Index Spread Betting ...

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OANDA FXMessage Forex Forum: Money lost... lessons learned

... said above so I am agreeing - don't listen to anyone ... When I first started trading (not Forex), I missed some killer ... Posts: 340 | From: Perth, Australia | Registered: Apr ...

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Which is the Best Forex Trading Robot?

Which is the best Forex Robot? Here we will look at one which for a variety of reasons should be one that any trader should consider and if not the best certainly is one them. Lets take a look at it...

The best Forex trading robot we will look at here is free - that's right free and by the time you have finished reading this article you will know how and why it works.

The Forex robot industry has a bad name as most Forex robots lose money and don't live up to the hype presented in there advertising copy. They make claims that are simply ridiculous like:

- They can predict the market

- Trade with 90% accuracy or more

- Double your money each month

- Trade with less than 1% drawdown

If you believe the advertising you can get all the above for 100 dollars or so and you have to make no effort! These robots are living in fantasy land and none have a real independently audited track record to back up their claims. They present made up simulations on paper. Now let's look at a free robot that makes money.

This Forex robot has been making money for savvy traders for over a quarter of a century and still works today and was devised by trading legend Richard Donchian who is considered the grandfather of modern trend following.

The system is simple and only has one rule so here it is:

Buy a new 4 week high in a currency and hold it, wait for a 4 week low to be hit then, take out the long and go short. Keep reversing the position on new 4 week highs and lows and always keep an open position in the market.

It's very simple but don't let that put you off it makes money and is based on sound market principles which are as follows:

In essence this is a simple breakout trading system and all big currency trends start from new market highs and continue from them. As markets will always trend long term, you will be in on and stay in, every major trend.

So why do we consider this the best Forex Robot?

- Its free and that's a nice advantage!

- You don't even need software to calculate the rule

- It's simple and robust

- It's time efficient to operate

- It's easy to understand and have confidence in

- Best of all it makes money and will always do so as long as markets trend.

Sure the above system is simple and that puts many traders off it, as they think something so simple cannot make money but it does. All the best Forex trading systems are simple and robust, if you make a system to complicated it will have to many elements to break.

Traders around the world have used this system to make huge long term gains and you can to - the system is called the 4 Week Rule and can help you achieve currency trading success - check it out and you maybe glad you did.

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