Many forex forex trading robot traders wish to use currency trading robots and buy them off the net but there's a free one we are going to have a look at here which, makes big profits and will beat the majority of the sold ones and it will not cost you a cent.
The four Week Rule was originally created to trade commodities by the Richard Donchian who is considered the grandfather of modern trend following. This forex trading robot is simplicity itself just one rule :
Cover any short positions and go long when a price exceeds the highs of the prior four calendar weeks. Cover any long positions and go short when a price falls below the lows of the prior four calendar weeks.
How easy is that?
Very, but don't think because its simple it doesn't work - run it across any currency and take a look at a forex chart and you will see it does.
It's actually a simple breakout system and will get you on the side of each major trend.
there is a drawback though - if the market doesn't trend, it can get whipped in and out in these scenarios however, you can combat this by adjusting the exit rule.
a very straightforward way to cut drawdown is to exit on a shorter time scale - say an one or two week low or high and you may consider exiting with a moving average. forex trading robot long-term, this system works and will continue to work, as currencies always trend and are not likely to stop trending.
Most traders though will not consider using this system for the following reasons :
- Its to straightforward - traders seem anti simplicity even though it works!
- There are not many trading signals, so it does not suit the action man trader.
- it is not fashionable - it does not quite have the ring about it, of a system based on expert or artificial intelligence technology.
- it's not fussy about pin down timing. Most traders are obsessed with trying to predict market price ( although you cant ) while this one simply reacts.
It makes money and that's the real test of any foreign exchange forex trading robot. Some of the top traders in the world have used it,eg Richard Dennis so, if it's's adequate for him, it's actually adequate for you and me.
If you use the 4 Week Rule and follow it with discipline, you can add an additional dimension to your currency trading strategy. If you are thinking about purchasing a robot then this one is very likely to beat it and it's free.
Most of the currency trading bots sold online come with simulated, made up track records all done in hindsight only and no real trading ; the four Week rule however comes with a pedigree.
So there you have it, a free forex trading robot that actually works and you may use to make forex profits. As the tune goes'the best things in life are free' and apropos foreign exchange robots the track is very good.
