Enclosed you will find a simple Forex trading system which has been making traders money for nearly 30 years and even better, it's easy to understand and apply and its FREE! - let's take a look at it in more detail.
This system will beat ALL the cheap Forex robots you see sold online for a hundred dollars or so because it's been proven in the market whereas most robots simply use back tests over past price history and bend the system to make a profit. Not only has this simple Forex trading system, made countless millions for savvy traders, it was also designed by a true trading legend - Richard Donchian. Richard Donchian is considered the grandfather of modern trend following and this simple system, is based on catching the big trends which yield the big profits.
The system only has one simple rule you need to follow and it's this:
Buy a currency when it breaks to a new 4 week high and hold the open position until a new 4 week low is hit and liquidate the long and go short. You then keep taking positions as new 4 week highs and lows are hit and always keep an open position in the market.
This system is so simple but its simplicity doesn't mean it doesn't make profits - test it and you will see it makes huge long term gains.
Simple Forex trading systems tend to work better than complex ones because they are more robust and have fewer elements to break.
All currencies trend for long periods and all the biggest and best trends, start from breakouts to new chart highs or lows - so the logic is easy to understand and have confidence in. Sure it has drawdown periods but any system does but trade it with a long term view and you can pile up huge profits. You can also add filters to reduce downside volatility during losing periods and we have discussed them in other articles; if you use it in raw form or with a filter, it makes big gains either way.
Before you think about buying a cheap Forex robot which promises you a lot and has never made money, use this system it's delivered millions and it's free.
The system is called the 4 Week Rule so look it up, make it part of your Forex trading strategy and you will an instant way to start seeking the big profits from the big trends and be able to enjoy currency trading success.
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Article Source: http://EzineArticles.com/?expert=Kelly_Price
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