Automated Forex 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 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…