Is there a single best currency trading system? The answer is no there are several, depending on your aims and risk tolerance. This article is all about finding the best ones and avoiding the bulk which lose money…
When choosing a currency trading system, you have a number that are advertised heavily which claim huge profits – but to get rid of most of them, just check the disclaimer on the track record.
If you see words hypothetical, simulated or back test this means it’s NOT real trading and most are simply a back test. Avoid these systems! Anyone can make up a track record knowing the facts – but the test is making money in real time trading, where you don’t know in advance what will happen.
These so called forex expert systems simply rely on clever copy and are designed to appeal to greedy and naïve traders and are not designed by successful traders. Think about it – if the systems were as good as there track records, they wouldn’t be selling it for $100 to you! They would just trade themselves and make a fortune.
Finding the Best Currency trading System
Right that’s the majority of trading systems out of the way, let’s find the best currency trading system for you and also look at an excellent free one which has made millions.
The two questions you need to think about are – what gains do you realistically want to make and what drawdown can you stand in terms of size and duration on your equity?
Generally the best automated forex treading systems with real time track records, will compound about 30 – 100% per annum and you can expect drawdown of between about 30 – 50%, on equity and an average drawdown of a few months.
Keep in mind currency trading system trading is long term and there are NO systems I know of that don’t drawdown for at least 2 months – that’s just forex trading.
You have to stick with the system and have confidence in it, so which ever one you buy make sure you have confidence to trade it. If you do, you can trade it with discipline and enjoy some great long term forex profits.
A FREE One for you to Consider
How would you like an automated forex trading system that has been used for over 20 years, was devised by a trading legend, is based on timeless logic and is simple to understand and execute?
Well if you do, look at the 4 Week Rule by Richard Donchian.
We have written in depth articles on this so look them up. This is a simple one rule system and doesn’t even need a computer – you just follow the rule.
The above system has made countless millions for traders all around the world, is still used today and it works. Even trading legends such as Richard Dennis were fans of it so if you use it, you know you’re in good company.
Do the Following and Enjoy Big Long Term Profits
To find the best currency trading system, disregard the simulations, go for real time track record and check growth to drawdown. Once you have chosen the system for your forex trading strategy make sure you understand it, can have confidence in it. If you do this and judge it over the long term, you will be rewarded with great profits in around 30 minutes a day or less and enjoy currency trading success.