Forex Trading Machine Review
Avi Frister's Forex Trading Machine is essentially an ebook package consisting of three profitable forex trading systems that the author uses to great success, and best of all they are all price-driven, which means that no technical analysis is required.
It sounds impressive but can you really be a profitable forex trader using only price as your leading indicator?
Well Avi Frister has spent many years studying hundreds of technical indicators, systems and strategies, and finally came to this exact conclusion, that the only indicator you really need is price.
The 180-page Forex Trading Machine package is basically the result of his studies, and includes three unique strategies that you can use to successfully trade forex currencies. So what are these trading strategies?
Well without wanting to give too much away, they are as follows:
1) Forex Cash Cow Strategy
This is a great strategy for less experienced traders and those who have full-time jobs because it doesn't require you to be constantly watching the market all day, and is completely mechanical. It basically requires a few minutes of your time at the end of the trading day to look for possible set-ups and then place your orders if the criteria are met.
This is more of a long-term strategy as you will have to be patient and wait for suitable entries (you may only get a handful of set-ups per month), but when you do get good set-ups it's proven to be a very profitable method, yielding 100+ pips profit, and is fairly low risk as well.
2) Forex Runner Strategy
If day trading is more your thing then you may well find this method (and the next one) more suitable. This is another mechanical system that again does not use any technical indicators, but this strategy produces far more set-ups.
Indeed I've had great success using this method just trading the GBP/USD pair during the day, and although not perfect (what system is?), it is a profitable system because it keeps your losses to a minimum and aims to produce a far greater profit with each trade.
3) Forex Flip And Go Strategy
Another day trading method, this is arguably my favourite strategy as it aims to produce consistent profits of around 40 pips and limits your losses to around 15 points or less.
It focuses on the EUR/USD pair, and generates profits by taking a slice of the daily trading range of this pair, and takes advantage of the pair's unique behaviour.
So to conclude this review, I should state that this ebook package detailing three profitable forex trading strategies is of course not the holy grail which so many are looking for (it doesn't exist), and you will still incur occasional losses whichever method you use.
However, in the long run, with losses deliberately kept small, each of these strategies should produce consistent profits over time, and the best thing is that you don't have to use any technical analysis at all. Price is the only indicator you will need.
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Forex Trading Machine: Avi Frister Review
Overview: In Forex Trading Machine , Avi Frister presents three different trading strategies based purely on a mechanical model of trading. No pivot points, chart patterns, moving averages, Bollinger bands that require user discretion and judgment.
Review:
The focus of the ebook is: strict entry and exit rules and looking solely at Price Action. Price Driven Forex Trading is based on the fact Price is King in forex trading and you are more likely to be profitable trading currencies by basing your buy/sell decisions on what price is doing rather than trying to interpret indicators which are mostly all lagging.
Avi's Cash Cow Strategy is worth looking into. Firstly, it is designed for the GDP/USD currency pair, specifically chosen for its good volatility. And secondly, the trading system only throws up 3-4 trades per month, which allows you the freedom to do other things besides looking at your screen all day.
Flip & Go Strategy is for day trading .It shows you how to take advantage of a certain characteristic of the EUR/USD pair - the most liquid of all currency pairs.
Forex Runner Strategy is another strategy for day trading. It's purely mechanical and based solely on what price is doing.
A bonus strategy which Avi includes in the package is the Forex News Trading Strategy . He shows how important reports such as reports the Non Farm Payroll can create moves in the market that can be very significant .
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Forex Trading Machine is a +150 pages e-book designed for beginners as well as seasoned traders. This course has been written by an 11 year veteran and fits the needs of ANY type of trader. Beginner will learn everything they need to know about the forex market, from A to Z. Seasoned traders can jump directly to advanced chapters which teach step by step with detailed charts.
You will learn three 100% mechanical systems never published before to the public - two day trading systems and one swing trading system . And the interesting part of all of this is that none of these systems use any type of indicators!
The Cash Cow strategy is aimed at capturing large price swings and literally takes no more than 1 minute per week to implement. This is perfect for people who cannot monitor the market.
The two daytrading strategies, " Forex Runner " and " Forex Flip & Go ", aim to capture an average of 40 pips per trade and are also 100% mechanical (totally rule based: no interpretation, judgment or discretion).
What this course difference from others is Forex Trading Machine teaches 100% mechanical forex trading systems that requires obsolutely no discretion, judgement or interpretation . It seems that many forex trading courses today concentrate in teaching simple technical trading techniques such as pivots, chart formation, pattern & etc. These techniques require total discretion and judgement from the trader using them and there's why most people don't succeed when trading them.
We highly recommend this course!
Overall, we think this is one of the best forex trading courses and it's is well under-priced compared with other courses in the market. Forex Trading Machine is not just trading course, it is a complete trading solution . The core trading strategies are very impressive. You will be equipped with 3 explosive strategies so you can attack the forex market from every angle and take advantage of different opportunities.
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Forex Trading Machine (created by Avi Frister) is a systematic trading formula that's based on an entirely different approach to profiting from the forex market.
Unlike most trading systems - many of which appear to be "push-button", but are actually very complex to use, and practically requiring expert handling to use with maximum efficiency because they're calculating and adjusting to several different variables (indicators, pivots, support/resistance, trend lines, etc) - Forex Trading Machine simply looks at two variables: price and time.
In fact, the entire 3-part system is founded on a single mantra, which Frister has dubbed "PDFT", short for "Price Driven Forex Trading". Frister claims to have spent 11 years of system development and trading to finally refine and iron out the wrinkles in this strategy.
So is it really possible to simplify the complexities of forex trading with Frister's "PDFT" trading system ?
Does it really work consistently?
And if so - what are the limitations of the Forex Trading Machine?
What It Claims to Do:
The Forex Trading Machine consists of three "PDFT" strategies, each one catering to a different trader profile, and varying in degrees of complexity (even though in comparison to more convential forex strategies - they're all much more straightforward and focused).
They are:
. The Forex "Cash Cow" Strategy
The Cash Cow method is a simplistic and allegedly effective swing-trading system where at the end of a given trading day, the user (you) checks to see if a certain condition has been met. If it has, then the trader provides their broker with a specific limit order, stop-loss order and a profit objective based on a pre-set calculation (developed by Frister).
He claims that several of his clients make more money by doing just this "cash cow" strategy than they do at their full-time day job. His reasoning is that it's systematic and endlessly repeatable, being as it's simply a matter of certain conditions being met.
In other words, "if A=B, then the result is C". The Cash Cow strategy is profiled as a lower-risk trading system for long-term results.
. The "Forex Runner" Strategy
The Forex Runner trading system is a mechanical, "emotion free" set of rules based solely on the price of a given currency pair. It lends itself to a "hit and run" approach, where trades (and profit) can allegedly be executed very quickly.
To use the "forex runner" system, the trader chooses his preferred time-frame and currency pair, and then uses Frister's rules for identifying an optimal trade, upon which an order is issued, either short or long.
He claims that this is so brainless it's almost like "cheating", especially considering that most day-traders move too slowly and only trade when a market has already gained momentum. Forex Runner allegedly gets you in early, before there's any "visible" indication of movement.
. The Forex "Flip and Go" Strategy
The Flip & Go tactic is one that's exclusive to the USD/EUR currency pair, allegedly exploiting a telltale characteristic of the pair that's been consistent for several years - providing high-probability, low-risk trades that can be repeated over and over again.
The main advantage of Flip/Go is that the USD/EUR pair can produce large pip moves (80-100) daily, meaning that there's a large window for profit on each trade when conditions meet the system's rules.
Frister continually stresses with each of the 3 "pillars" of his overall trading system that it's simply a matter of checking to see whether a certain condition is met throughout the day - and if it is - then a pre-defined set of actions are carried out accordingly.
On the outside looking in, it seems like "paint-by-numbers" forex trading at its finest.
But is it? Let's take a closer look...
What It Actually Does:
As you've likely already concluded, the Forex Trading Machine isn't a machine in the literal sense (it's not a software solution) - it's a series of "if this, then do this" commands that the trader follows systematically in order to emulate a successful trader, minus the actual head-knowledge.
And each of the three trading methods generate profitable trading results with frequent consistency. For instance when a backtest was performed over a previous 12-month period with the "Cash Cow" system - the most conservative of the three - the figurative trading would've resulted profitably by 495 pips.
Keep in mind that the Cash Cow system is designed for people who don't have the time to day-trade due to a full-time job, etc. The other strategies (Forex Runner and Flip & Go) are for the more experienced traders, with a much higher reward level.
The overall opinion of unbiased users across the internet is that Avi Frister's Forex Trading Machine is a simple system to follow, and a great bargain at it's current retail price. In fact the only negative comment we could find was in regards to Frister's support, which was rebutted by another customer in the same forum thread.
Conclusion:
The Forex Trading Machine might not be a "push-button" software program, but the results speak for themselves.
Aside from the "bordering on exaggeration" product name implication (eg. "Machine"), in the volatile world of forex trading, it's quite possible that Frister's trading system is the surest and simplest approach to actually making reliable profits in an otherwise chaotic market.
Based on the backtesting results and the literally hundreds of raving, unbiased comments about FTM all over the web - we strongly recommend that you try the system for 56 days or less on a demo account.
If it works for you - then you're in possession of the closest thing to a money-printing license. If it doesn't, well, you're still within Frister's payment-processor's refund period and you can get your money back anyway.
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The ebook "Forex Trading Machine" is aptly named. The author, Avi Frister, has taken a radical approach to the forex market, bypassing technical and fundamental indicators, the lifeline for many traders, and devised a system that is purely mechanical. If you can trade like a robot his system promises dependable, consistent profits over time.
This ebook falls naturally into two parts. Chapters one to six cover forex basics including an explanation of currency quotes, pips, margins, daily ranges, technical and fundamental analysis.
Of particular importance are chapters five and six dealing with the psychology of trading and money management.
Why A High Drop Out Rate?
A very important point is made on page 74. After referring to the often quoted statistic that 95% of traders fail eventually and go broke, the author emphasizes that this is not due to the absence of a sound trading system, or special forex trading strategy.
Discipline is the key factor, control over emotion. Fear and greed are the two elements that destroy so many traders. To quote Avi Frister: "Most people get into this venture with the hopes of getting rich quick. The lure of fast money. Make no mistake, it's the number one ingredient for disaster."
Hence the desirability of a forex trading strategy that is purely mechanical, without the need of interpretation or judgment calls on what is happening in the market at any given time. If an individual can develop the discipline to simply follow this mechanical system, basically trading like a robot, consistent profits and an ever growing account will be the result according to "Forex Trading Machine."
From what I have considered in this ebook and put into practice myself, I am inclined to agree.
Three Strategies
Three specific mechanical strategies are outlined. One requires a stop loss of over 50 pips which may not suit everyone considering the amount of equity needed for such a trade. These setups come up just a handful of times a month but the profit targets are usually around 100 pips.
The second strategy will suit many with a stop loss of 20 pips and a profit target of 30-40 pips. This particular setup occurs frequently, perhaps more than once a day on some currency pairs.
The third strategy requires a stop loss of just 15 pips with a profit target between 20 and 40 pips.
In each case, there are minimal considerations and a trader has to just follow a very specific set of instructions , enter the trade, and forget about it. Check it some time later and if it is still running, make a decision on whether to exit or let it run.
The author points out in the introduction to this ebook that the information and trading strategies explained will suit both the beginner and the advanced trader. Certainly the beginner will find the techniques relatively simple and easy to implement. If they can adopt the robot approach and just 'connect the dots' there is a high probability they will increase profits consistently over time.
It Depends On Your Mindset
For the advanced trader I am not so sure. It will depend on the mind set. Some advanced traders may not be able to shut off their natural tendency to use technical or fundamental analysis. This will most certainly get in the way and cause problems if they are using the mechanical approach.
Advanced traders who have the discipline to pigeon-hole their various strategies will do well with this system I believe. They may have some trades running using their technical or fundamental indicators and when they see the specific setups Avi Frister outlines, they may choose to trade in a separate account purely using the mechanical method.
The advantage of this approach is a spreading of the risk factor. Using a variety of trading strategies, including technical analysis and on other occasions a purely mechanical approach, will provide a strong trading foundation.
"The Forex Trading Machine" adds another dimension to the aggressive trader's tool kit.
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