Author: Kelly Price

Don't they look wonderful? All those currency trading systems promising you a regular income, with no effort and just a few hundred dollars! The vast bulk lose (I am being generous saying 99%) so why do they? Here's why.

Because the track records are not real, there made up and normally carry this disclaimer.

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

Now a currency trading system that carries this disclaimer is not worth the paper it's written on, as it's made up knowing the closing prices. If we all knew tomorrow's price today, we would all be multi millionaires but we don't.

Also you have to think - if the trading system is that good, the vendor should have the confidence to trade it himself.

If he doesn't why should you?

You can get a free currency trading system which will out perform the bulk of systems sold - simply look up Richard Donchian's 4 week rule ( its in our other articles) simple? Yes it is - but it makes money and best of all its free.

You can also construct your own trading system and this is very simple to do.

The best way to start is simply to do a breakout system, that follows long term trends, uses support, resistance and uses a couple of momentum indicators to time trading signals.

I have been trading for 25 years this way and can tell you this will work far better than any currency trading system sold with a simulated track record.

The Good News!

Is you can make money trading forex, as everything about forex trading can be learned, by those willing to invest a bit of time.

The rewards can be life changing - but as in any area of life where money is to be made you need to make an effort.

So learn currency trading the right way and don't believe any track record that has a simulation - it will end in tears and the wipeout of your account equity.

Use a free one from the net or build your own currency trading system, for long term forex success.

Article Tags: Forex Education, Forex Trading System, Currency Trading System, Trading System, Forex Software

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