Automated Currency Trading - Are Automated Currency Trading Systems Only Way to Go? No!
By [http://ezinearticles.com/?expert=Jonathan_B._Jesselton]Jonathan B. Jesselton

Foreign exchange market is a profitable market and most people enter it with only one objective: to make money. By automating the income, you can enjoy free time and be rid of doing manual work. All you need is ten to fifteen minutes each day. However, if you are interested in a currency trading system, you should be well aware of ways the product operates and which suits your risk tolerance, trading style, and the current market conditions the best.

Many believe that automated currency trading is the only way to go if you want to make money. There is, however, a currency trading system, not automated, available free of cost that's has been used by many of the world's best traders. Below is the description of the system which could lead you to your currency trading success.

The system was first discovered in the late seventies, by a trading legend Richard Donchian, when he noted a dependable four week cycle in service markets. Although the system was designated for commodities trade, it worked on any trending markets including the forex currency market.

It is a simple system based on one rule only. No computer is required to do the calculations. All you have to do is: buy a new four week high in a currency and switch the position to a short on a four week low. Let your position be open in the market at all times and keep switching from a high to a low and vice versa. That's the rule. It's quite straightforward but it happens to work.

As to the question why it works, it's because it is based on sound market logic: currencies maintain their trend for long periods and they always start a new trend and maintain them from breakouts to new market highs or lows.

It has been seen that all the best currency trading systems are uncomplicated. There are no relations between complexity and success. Unfortunately, traders mostly are hesitant to use this simple technique, even though it makes money. Most traders are so impressed by the hi-tech robots and automated systems that they are inclined towards buying them. The proof that the software presents are based on back tests and simulations that are done in known conditions. Of course, the results are never repeated. Buyers mostly like the trendy names and most of all the idea of making moneys with no drawdown is too tempting. This attitude leads to dismissing of the above mentioned simple rule, despite the fact that it makes profit. [www.bestforexrobots.org/">http://www.bestforexrobots.org/]Best Forex Robot : Compare Top 10 Forex Robots And See Live Trades Online! [www.bestforexrobots.org/">http://www.bestforexrobots.org/]Compare Forex Robots :

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