Not even if it was allowed only like once a month, and you could only trade something of equal rarity. I think that system would work fine.

you dont get it, having there be limits of equal value will not change the fact, that consoles cannot handle a disconnect during a trade like a PC can, i.e. two players trade a Gjalla and Icebreaker because they each do not have one of the other, hit accept trade, hard quit the game, player who quit still has Gjalla/Icebreaker player who remained in game got the new Gjalla/Icebreaker they wanted, item duped, whole game rendered useless, i.e. Diablo 3 for consoles

So your saying that if X amount of trading was going on at once, it would crash the game for some people that it would screw them out of the weapon they wanted to trade for?