Rating: 4.5/5 stars
Price: $97
Avi Frister, author of Forex Trading Machine, has been making his living trading the markets for over ten years. This fact alone lets us know that something he is doing in his pursuit of his market trading is bringing success. In his new book, which explains his trading method, the strategy he uses may be characterized as robotic in nature. The book is written with both the beginner and the trading veteran in mind.
Avi's forex trading system is aptly named for the method of trading that it utilizes. It is designed primarily as a "trading machine," using no human interpretation of the market by its user save that of price and where the price is headed. It is based totally on a mechanical model of trading, meaning that it contains no chart patterns, no pivot points, no moving averages, no judgements or interpretations, and no confusion. It is a simple and straightforward trading system.
There is a distinct advantage to using a system such as this as it relies totally on the market's direction for its action points. In other words, if the price of a traded item is going up, then it is recognized as going up which equates to hightened demand; if it is going down, then it is going down, equating to a slackening of demand. Simple? You bet. Too simple? Don't bet on it! At least not until you've tried it yourself.
The focus of Forex Trading Machine is on strict entry and exit rules while paying stark attention to price action. Within this framework, Avi presents three different trading strategies based on this purely mechanical trading model. A price driven forex trading strategy, being based on the fact that price is king in forex trading, means that you are more likely to be in profitable trading currencies through forming your buy and sell decisions on what price is doing rather than attempting to predict or interpret market indicators which are usually lagging behind in a live market.
What has been characterized as the safest of the three strategies he teaches in the book is known as the Cash Cow Strategy. It is essentially a swing trade strategy which sets up no more than two to four trades per month. It can therefore be worked over the course of a month's time, virtually creating a set-it-and-forget-it trading method. This strategy works using a daily chart where a price is watched to see if it moves a particular distance during one day; if the price markers are hit the following day then the chances of a reasonable gain are good. Avi states that this usually happens only once a week or so. Additionally, it has seemed to work best with both the GBP/USD and EUR/USD pairs.
The Flip and Go Strategy is a day trading method. It demonstrates how to take advantage of a certain characteristic of the EUR/USD pair – the most liquid of all currency pairs. This and the next strategy – the Forex Runner Strategy, which is also a day trading strategy – are methods for those who like more trading action during the day. As with his other strategy, both these methods are based upon the movement of the price factor, albeit over a shorter time span in High Probability/Low Risk trades. These strategies will get you out of a down trending trade quickly, thus preserving capital while minimizing losses.
Included as a bonus strategy which Avi teaches in the package is the Forex News Trading Strategy. In this, he demonstrates how important reports such as the report of the Non Farm Payroll can create impressive moves in the market that will have a profit significance.
For the beginner, Forex Trading Machine strategies may prove to be all they want or need in order to make a profit from trading the forex. Included are 180 pages designed to be a complete course in forex trading, from trader's psychology, money management formulas, to calculating currency values and reading a currency chart. The book teaches the reader the behind-the-scenes logic of why and how these systems work. As an added bonus, Avi includes nine additional videos (three on each system) to illustrate the systems in action so that there is no doubt about what to do and when to do it.
For the veteran, these methods may provide an added weapon to their already effective tactics. In other words, they may have some trades open using their technical or fundamental indicators, and when they spot the specific indicators that Avi outlines, they may choose to trade in a separate account using this purely mechanical method. For the advanced trader, it can be a matter of adding another income stream to their already perfected arsenal of investment strategies.
From our examination of the Forex Trading Machine system, it would seem to be the perfect system for any level of forex market participant.
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