Tips On How to Start Forex Trading

1. You can make money with Forex Trading if you are fully equipped with the knowledge and skills required in Forex trading.


2. You can make money with Forex Trading if you are committed to online currency trading since online currency trading is considered the future of Forex trading


3. Before you start in Forex trading, it is necessary for you to set up your account with a Forex broker. Choose from the best of the available Forex brokers online. Research on those who require fees which fit your budget and most especially those who are very experienced and skillful in Forex trading.

Thursday, December 11, 2008

Currency Trading Systems - This Ones Totally Free Has Made Millions and is Enclosed!

by K Price

If you want a free currency trading system, that is extremely simple to understand, has a track record stretching back over 25 years and works, you will find it and the rules of operation enclosed...

There are of course lots of currency trading systems sold online - but most in real life disappoint users, because the track record presented is a back tested simulation and most are curve fitted.

The Dangers of Simulation

What curve fitting means is the vendor simply buys and sells in hindsight and bends his system to make a profit on a past segment of data history. Of course, as no two data segments ever repeat exactly the system collapses and losses in real time trading.

The one we are going to look at has worked for a quarter of a century and will continue to work, as long as markets trend. Let's take a look at it.

Real Profits for over 25 Years

The system was originally designed to trade commodities by Richard Donchian who is considered the grandfather of modern trend following and his system is a simple breakout system based on a 4 week cycle.

It only has one rule to consider and it gives this currency trading system its name - the 4 Week Rule. Here is the rule.

The System Rule

When prices make a new 4 week high buy and then hold the position. When a 4 week low is made liquidate the long trade and take a short and keep reversing the position on each new 4 week high and low and always hold a position in the market.

That's the rule - it's totally objective, you don't need to make any subjective judgement and its simple and it works - here's why.

Why the System Works

If you look at any forex chart you will notice that most new trends start and continue from new market highs or lows and these trends can last for months or even years. These long term trends, are a reflection of the underlying economic cycle of the country they represent which last a long time and so do the currency trends that reflect them.

This system will get you into and keep you in all the long term trends. In essence this is a simple forex trading breakout system and as long as markets continue to trend, it will work.

Using the System

It's a long term forex trading system and will take losses when markets don't trend but these losses will be more than compensated for when they do but you can also add a filter and exit on a shorter time frame say, 1 or 2 week low. Then go flat until the next 4 week signal. Either way, it will make money longer term - but this filter will smooth the equity curve.

Despite this systems proven track record, most traders won't use it for the following reasons.

1. They think it's too simple - Well maybe but that's an advantage in currency trading! They like the comfort of complexity but in the market it won't help you make money - simple is best.

2. It's not based on flavour of the month or far out theories such as, Neural networks, Fibonacci, or artificial intelligence - but that doesn't matter it works!

3. It's to long term and most traders don't have the discipline to trade and hold long term trends but holding long term trends is the way to make money!

4. No fancy name and packaging. The simulated forex trading systems have these names that insinuate they will clean up in Forex and great copy but that's no help without a real time track record.

A Simple Time efficient System for Big Gains

This currency trading system has been used by savvy traders for 25 years and been at the heart of many a great Forex Trading strategy. If you are interested in making money long term, it's a system that will deliver big gains and it's free.

Take a look at the 4 Week Rule and you will have a solid system you can apply in 15 minutes a day that piles up big long term gains and can give you currency trading success.



FREE ESSENTIAL FOREX TRADING PDF's! + FREE PROVEN FOREX ROBOT!

For 2 essential free trading Pdf's and for more on a successful Proven Currency Trading System and an exclusive RISK FREE Forex Trading Course visit our website.

Article Source: http://www.articlesnatch.com

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