You can buy a forex robot but the ones you see are heavily advertised online but they never deliver the profits they say they can and most deliver an equity wipeout. The good news is that 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 closer look…
Before we look at our great system, let’s see why you should avoid those sold online.
Most systems sold rely on backtesting or simulation since the basis of their track record was so simply knowing closing prices. It’s easy, of course, but you don’t get the closing price in advance when trading in real time!
Some system vendors create real track records, but they are not independently tracked. You have to take the vendor at their word and personally I would be happier with an independent audit.
Of course, the statement that you can double your profits every month with no real drawdown is not true due to the nature of the forex markets where you cannot predict what will happen next. No system has ever doubled profits every month over the long term.
So what profits can you expect with the best forex robots?
It depends on the risk you’re willing to take, but the best ones will produce solid returns of 30 – 100% annualized returns 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 it’s free for everyone to use and was bequeathed by Richard Donchian, one of the true legends of trading and the grandfather of the modern day trend follower.
The system is incredibly simple. Here’s the rule.
Buy and hold a currency on a break to a new 4-week high. Close the trade at a new 4-week low and go short. Always maintain a position in the market, constantly buying and selling new 4-week highs and lows.
It’s simple, objective and works, here’s why…
Forex markets evolve over the long term and most trends start and continue from new price highs and lows. If you use the above system, you will catch every major movement and participate in all major trends.
Don’t be fooled by the system’s simplicity, that’s its strength. Simple systems work best as they are more robust than complicated ones and have fewer elements to break.
The 4 week rule has been at the heart of many successful Forex trading strategies for over 25 years.
However, most traders won’t use it, preferring schemes with catchy names, shiny packaging and overblown claims, although they never make the profits they claim.
So if you want a logical, simple forex trading system that actually makes money, then the 4 week rule could give you huge long-term gains in about 30 minutes a day. It’s free, so give it a try and you’ll be surprised how much money it makes.