Price Driven Forex Trading Systems

There are hundreds of successful forex trading systems and strategies, ranging from 5 minute scalping and news trading to long term swing trades. But what is the best forex trading strategy for a new investor? I like to keep it simple, and recommend that new traders start out with a price driven forex trading system.

Why trade a price driven system? The main reason is the overall ease of learning the system. Entry position, exit position, trailing stops, and stoploss are all easily calculated using the rules of the system. It is much easier to manage trades with a price driven system. There are no EA's (expert advisers) or messy fibonacci numbers, no support or resistance levels to worry about, or moving averages to fuss with. You don't need to spend all day analyzing forex charts to trade successfully.

Another benefit of a price driven trading system is they tend to be conservative. It is not uncommon to only make 2 or 3 trades a week. Price driven systems are designed to catch bigger moves in the market, not for short term scalping. Once you are a successful long term trader, you can worry about learning different scalping methods.

Although there are several price driven forex trading strategies available, my top 2 recommendations are: The 10 Minute Wealth Builder and The Forex Trading Machine (Full review coming soon!).

Both of these systems are proven forex winners, and a perfect introduction to price driven forex trading strategies.