Foreign Exchange Trading Robot – The four Week Rule A Free Robot That Works!
Many FX traders need to use FX trading robots and purchase them off the web, however, there’s a free one we’re going to have a look at right here which, makes huge earnings and can beat many of the offered ones and it will not value you a cent.
The four Week Rule was initially devised to trade commodities by the Richard Donchian who is taken into account the grandfather of contemporary trend following. This FX trading robot is simplicity itself only one rule:
Cowl any short positions and go long when a price exceeds the highs of the earlier four calendar weeks. Cowl any long positions and go short when a price falls under the lows of the earlier four calendar weeks.
How easy is that?
Very, however, do not suppose as a result of it is easy it does work – run it throughout any currency and have a look at an FX chart and you will note it does.
It is actually an easy breakout system and can get you on the aspect of each main trend.
There’s a drawback although – if the market does not trend, it will probably get whipped out and in these conditions nevertheless, you may fight this by adjusting the exit rule.
A quite simple method to lower drawdown is to exit on a shorter time scale – say 1 or 2 weeks low or excessive and you can too contemplate exiting with a moving average.
Long run, this method works and can proceed to work, as currencies at all times trend and are unlikely to cease trending.
Most traders although will not think about using this method for the next causes:
– It is too easy – traders appear anti simplicity regardless that it really works!
– There are usually not many trading signals, so it does not go well with the action man trader.
– It isn’t fashionable – it does not fairly have the ring about it, of a system based mostly on Expert or synthetic intelligence expertise.
– It isn’t fussy about pinpoint timing. Most traders are obsessive about making an attempt to foretell market price (regardless that you cant) whereas this one merely reacts.
It makes money and that is the true take a look at any FX robot. A few of the high traders on this planet have used it, equivalent to Richard Dennis so, if it is adequate for him, it is definitely adequate for you and me.
When you use the four Week Rule and observe it with self-discipline, you may add an additional dimension to your FX trading technique. If you’re considering buying a robot then this one is greater than prone to beat it and it is free.
Many of the FX trading robots offered online include simulated, made up observe data all carried out in hindsight solely and no actual trading; the four Week rule, nevertheless, comes with a pedigree.
So there you might have it, a free FX robot that truly works and you should utilize to make FX earnings. Because the track goes “the very best issues in life are free” and by way of FX robots, the track may be very apt.