Automated Forex Robot Trading - Which Forex Robot is the Best of All?
Written by OnlineLoan on 21:01Automated Forex Robot Trading - Which Forex Robot is the Best of All?
By: Kelly Price
Automated Forex robot trading is big business and there are numerous ones for sale and the vast majority lose, so let find the minority that win and the best robot...
We will look at our best trading system in a moment but first lets look at the Forex robot industry as a whole.
The phrase Forex robots or Expert Advisors are new phrases, until recently automated software was simply called a trading system - but marketing needs a catchy name, so trading systems are now known as robots or expert advisors and the fact is any system that carries these names and has hyped advertising copy will lose you money.
The claims are laughable - double your money each month, 90% accuracy and little or no drawdown and you only pay a hundred dollars or so, you know he claims are not true and so do most sensible people. These systems never produce an independent track record of gains - Why? Because these systems have never made any money long term.
The best Forex Robot Trading System
It's a free one and it doesn't actually call itself a robot, but it is an automated trading system and it does make money and has for over 25 years. Many of the pro traders use it and even trading legends like Richard Dennis admired it, so if you use it your in good company.
It's called the 4 Week Rule and was devised by trading legend Richard Donchian. It only has one rule and here it is:
Buy a new 4 week high - hold it. Wait for new 4 week low to be hit, then close the long and go short. Simply keep keying off new 4 week highs and lows and remain in the market at all times - that's it.
Does it make money?
Sure it does and it beats all the sold systems hands down because it is simple, robust and will always make money as long as markets trend. It's a simple breakout strategy which is a timeless way to make money.
So why don't more traders use it?
They like gimmicks, unrealistic claims and are duped by clever advertising copy. These traders forget that the proof of any system is in its performance and they like the made up sold track records.
The savvy trader though knows, a system like the 4 Week Rule will make money and they use it long term to pile up big long term profits and enjoy currency trading success.
Don't fall for the hype, get the real deal - a free system the top traders use and have been using for over 25 years to make big Forex profits.
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