Free Best Forex Robot for Long Term Gains!

By: Kelly Price

The idea of a forex robot is simple to give you an automated set of rules you can apply for bigger profits. No thought is required you just follow the rules and this makes forex robots time efficient and means the profit potential of forex is open to Anyone. Let's look at a FREE one that could make you huge profits.

Before we start most of the forex robots sold online will not make you money.

They all have the warning below written near the track record, normally in small print! Make sure you read it and digest its implications:

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

Now you will see why there a waste of money in terms of buying them and what they will do to your equity! They haven't even been traded and are simply simulations knowing what happened and that's easy.

So let's look at a free one that works and its - Richard Donchian's 4 week rule.

It simply says:

When prices make a new 4 week high buy and when the price makes a 4 week low sell.

How simple is that?

Very - but don't confuse this with not being able to make money.

Test it and you will see its very effective.

It's been used by some of the great traders and trading legend Richard Dennis was a big fan and if it's good enough for him, it's good enough for you.

It was developed for commodity markets and is essentially a stop and reverse SAR system and works very well on trending markets - but in periods of consolidation like all trend following systems it will incur loses so you need a filter.

A good way of doing this is to alter the exit and make it one or 2 weeks then re enter on the 4 week rule. You can also use moving averages as an exit.

Either way, with filters or without this system will make money but you have to decide what drawdown you are comfortable with.

Why is it so successful?

- It's based on breakout methodology which is timeless way of staying with trends.

- Currencies trend well and you will never miss a major trend

- It is robust, simple, easy to understand and easy to apply.

So there you have a forex robot that will work but most traders won't even bother with it despite its obvious money making capacity why?

It's too simple and they don't believe it will work, it's not fussy about perfect entry, it doesn't trade that often and of course it's not trendy. However, if you want to make money and have discipline you will love it.

Simple forex trading systems work better than complicated ones, as they are robust and have fewer elements to break, so don't be deceived by its simplicity - this forex robot works, is free and could make you a lot of money.

Foreign Exchange
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 

» More on Foreign Exchange
 



Share this article :
Click to see more related articles