Forex Trading System - What Makes a System Successful and How to Find the Best One

Forex trading systems are big business, as the aim is to allow you to save time and delegate your trading signals to an automatic process and keep your emotions out of your trading so you trade in a disciplined fashion; but what makes a system successful? Let's find out...

The first thing to do when looking for a Forex trading system is forget all the so called Expert Forex Advisors ( EPA's) that are heavily promoted. You have seen them for 200 dollars or less you can get an income for life and you can double your equity each month with no drawdown! If only it were true.

These systems give the Forex industry a bad name and lose money. There not devised by traders but by marketing companies and come with simulated, made up track records, or track records with no independent verification.

If you want a good trading system, look at the enclosed checklist.

1. A track record of real gains

2. Growth rates of between 30 - 100% per annum depending on draw down

3. Expect 20 - 30% losses at times and them to last a few weeks

4. Look at the methodology, it should be simple and easy to understand so you can follow it with discipline

5. Look for ease of operation and good technical support.

If you check those criteria you will find some great systems but understand you must know something about Forex trading which enables you to understand why the system will win long term, so you can trade it through losing periods with discipline.

A FREE Forex Trading System

You can also get free systems which make money online and one of the best is the 4 Week Rule.

Devised by trading legend Richard Donchian, you can learn it in about 30 minutes and you don't even need a computer software program to calculate the rule. The system trades breakouts, is easy to understand, operate and has made great gains for over 25 years. It's been at the heart of many a successful Forex trading strategy and you can make money with it too.

Be Sensible!

If you are expecting to get rich overnight and never have any losses you're in for a shock but if you are prepared to look at the long term, accept short term losses and be realistic the long term gains for the effort you have to put in are huge.