The free forex robot we are going to look at is free and makes money, yet most traders never consider it. Lets look at how and why it works but despite this most traders wont use it...
Automated Forex trading systems are big business online - but the vast majority don't make money. They simply promote paper track records which fail in real time trading and destroy the traders equity.
The one we are going to look at here has worked in real time and many of the top traders have used it in their forex trading strategies, to make big profits.
This is a simple system it only has one rule to follow. The system was devised in the seventies by one of the great traders Richard Donchian, who used it to trade commodities markets.
It doesn't just work on commodities it works on any trending market and currency markets are therefore ideal, as they offer excellent trends.
Let's take a look at the rule of the system which is called the 4 Week Rule.
Buy a new 4 week calendar high - stop and reverse the position, on a break of a new 4 week calendar low and then look to stop and reverse again on a new 4 week calendar high and continue to do this always keeping an open position in the currency.
That's it and while incredibly simple, it works for the following reasons.
It's based on breakout methodology
It's a fact that most big trends, start and continue from new market highs or lows, so this forex robot will make sure you are in on all the big trends and profits.
Long Term Trend Following
It's based on catching and holding the long term trends.
A look at any forex chart will reveal trends that continue for many months or years and this trading system will keep you in them without getting bumped out by short term volatility.
It's Totally Objective and Disciplined
You don't have to think or make subjective judgments; you get a clear cut signal which you simply execute in the market.
It's Time Efficient
It will take you around 15 - 30 minutes a day to operate and that's it, you can go and do something else.
Like any forex trading system it will have a weakness and this one will generate losses, when markets don't trend or are in periods of consolidation, so you can consider adding another exit rule:
Place a stop at a one or two week high or low and then go flat and wait for the next signal.
This can help combat a non trending market but whichever way you choose this free forex robot will make big long term gains.
Most traders don't even consider this system, even when they know it works!
Why?
Quite simply because they think it's too simple (even though all the top trading systems are), also it's not a system that goes for pinpoint market timing and many traders want to predict highs and lows, even though its obvious this is not possible.
Finally, it just isn't packaged nicely - you get no flashy box, or name that indicates it's vicious animal, or a load of garbage sales patter.
For some reason traders will buy forex robots that have never been traded but one that can make them money - they ignore it!
If you want to make money in forex trading, this free forex robot will help you and you should try it. The system doesn't cost you anything and has been used for over 20 years by numerous traders, to improve their forex profits and it can help you achieve forex trading success too.
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Article Source: http://EzineArticles.com/?expert=Kelly_Price
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