I am tired of all these forex gurus selling their secret systems for only $97. This is absolutely ridiculous. Who is the world would sell a system that is making millions of dollars for under $100?

I am posting to talk about some of the free systems that kind traders have given away to help the forex community.

Post your comments on the free ea's you have tried.

Well, I dont believe in EA. I prefer manual trading only.

Here is my free forex trading strategy

1. Decide which pair you are going to trade.

2. Find out all major trends by checking the different interval forex charts. For example, 1 hour, 4 hours and daily forex charts

3. Plot the trend lines through the high points if it is on a downwards trends and plot the low points if it is on an upwards trend. You will need at least 2 months of data to be able to plot out the trend lines

4. Mark the support and resistance levels

5. If the price is almost approaching the trend line you have drawn, wait for it to move through or below the line before proceeding.

6. You might want to also check the RSI indicators to see if they give you a warning. Also make sure to check the MACD and Stochastic levels as well.

7. Make sure for the next 2 or 3 days, there are no major data releases for the two countries’s currencies. It will cause some fluctuations in the prices.

8. Get in and start trading but use no more than 10% of your capital

9. Place a stop loss but do not place it so far enough that you won’t make a profit. I would suggest 100 pips as a recommended stop loss point.

If you have the motivation to learn FX trading, you can build your own trading strategy for free.

There are certain questions to be addressed here. One: what is a free forex trading system? This trading system can either come as a training manual (or e-book) with or without complementary software. A good package should help you understand the basics of forex trading; at the same time, it should offer you new insights on how to best stand your ground when you are already in the virtual trading floor. There are many training manuals available, as much as there are products and commodities to be traded in the forex market.

The best way to learn Forex is to be a technical analyst, you don't need to know anything about the the news or economics, you can simply learn to trade high odds chart patterns which will allow you to lock into and hold long term trends.

Thanks and will be looking forward to see more posts from other experts here specially in this field.

If you look at forex charts, you will see that all the big major trends start and continue, from breakout to a new market high and low and these trends can last a long term. The system enclosed is based on trading breakout and focusing on the long term trend.

One old stand by is. Trading the divergence. For instance using the EUR/USD day chart. Using the RSI indicator in default settings.
On 2010 05 18 the RSI hit a low then started to diverge from the actual EUR/USD prices. The RSI started to go up while the pair continued to go down.
On 2010 06 07 the low for the pair was made, while the RSI did not make a new low. This lead to a trend line being drawn on the RSI and a trade would have been entered. Knowing the odds were for the EUR/USD to move higher over the next few days

Yea, Even i dont recommend people to buy systems or EA as most of them are proved to be scams. Therefore, people should create their own system and back test them to know the accuracy of the system.