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It always amuses me, when traders buy Forex robots for a hundred dollars or so and thinking they will get rich with them - but none of them work as they have never been traded in real time and are simply back tested simulations. The 2 Free Forex trading strategies we will look here, have made hundreds of millions in real time profits, lets take a look at them in more detail.
The systems we will look at have worked for over 25 years and unlike the popular Forex Robots you see for sale online, these systems are from trading legends not just programmers, these systems work in real time, not just in back tested simulations.
The first free Forex trading strategy we we will look at is "The 4 Week Rule" which was devised by the grandfather of modern trend following Richard Donchian. We have written in detail on this strategy, in other articles but in summary, its a one rule, trend following system which is based on breakout trading. While incredibly simple it works and always remember, the best trading systems are simple, as they have fewer elements to break than complex ones.
If you apply the 4 Week rule correctly, you can make some great long term Forex profits with a system that has stood the test of time.
The next strategy we will look at which you can get for free, comes from Richard Dennis, who incidentally, was also a fan of the 4 Week Rule; His strategy was based on the same logic, trading long term trends via breakouts and it made huge profits. The rules he devised, were used by a group of novice traders to show that anyone, with the right education and system, could win at Forex. Dennis was proved right and in just two years, his group of novices made $200 million real time dollars with it!
The system rules are available free and if you look at the strategy it has all the elements a good strategy has and I personally think, any traders should look at it for the money management rules which are a great example of how to preserve equity. The system is less effective today than when it was first used, as markets have become more volatile but for showing you the basics a good strategy needs to succeed its a great system to look at.
Two simple systems, by true trading legends you can learn from and there both free! Look them up and make them part of your essential Forex trading education and if you learn from them, they will help you enjoy currency trading success.
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