Forex Trading Machine
I recently bought Forex Trading Machine and thought I would share my opinion of it here. If you currently trade, or are thinking of trading the Forex Market, then you may want to take a look at it.
In Forex Trading Machine, Avi has identified what he calls the Price Driven Forex Trading (PDFT) method of trading the Forex Market.
Avi explains that the Price Driven Forex Trading (PDFT) is a way of trading without the usual technical indicators like the moving average, Bollinger bands, pivot points, ect. But instead relies upon the price of a currency pair and a time element.
What is Forex Trading Machine
Forex Trading Machine is a 182 page downloadable ebook that is produced by experienced trader, Avi Frister, with more than 11 years in the business. Since it is in PDF format, you can download it immediately after buying.
When you buy it online, you will also get the bonuses that come with it. These include the excellent Trading For Beginners eBook by Mark McRae and another PDF report on a trading strategy that Avi Frister has created for trading the Non Farm Payroll.
Also, if you buy Forex Trading Machine, Avi Frister will occasionally email you free resources that are mostly only available to his customers. These include trading reports & systems and MP3 recordings.
Much of the beginning of the book is dedicated to setting yourself up to start trading the Forex Market. Material included here cover topics such as how the forex market works, reading currency charts, a bit about technical and fundamental analysis, and perhaps 2 of the most important aspects of trading : Psychology and Money Management.
Within Forex Trading Machine, Avi has put together 3 different PDFT methods that he has found the most successful. 1 of which is a Swing Trading style method and the other 2 are aimed at day trading.
Price Driven Forex Trading (PDFT)
One thing you will notice when you read Forex Trading Machine, is that the trading strategies use what Avi Frister calls his Price Driven Forex Trading (PDFT) technique. PDFT uses the price of a currency pair to determine entry and exit prices for trades. In fact this was one of the reasons I was so keen to read Forex Trading Machine, as my trading systems depend upon technical indicators to determine entry and exit. So this was a refreshing and enlightening topic to learn about.
Forex Cash Cow Strategy
The first method is called the Forex Cash Cow Strategy and can be found on pages 91 - 126 of Forex Trading Machine. To follow this method, the trader uses End of Day (EOD) data to determine whether or not to enter the market. Avi Frister calls this his Bread & Butter strategy as the trades only get set up 3-4 times a month and they are highly successful at achieving a profit with very little risk.
The Forex Cash Cow Strategy is geared towards the patient trader. It is far removed from any day trading strategy as the conditions do not occur very often. It takes advantage of ‘Explosive’ price moves and aims to make a quick profit in a short amount of time.
This strategy has proved itself successful and is a real gem as it requires very little risk. Both the exit and entry rely upon the Price Driven Forex Trading technique.
There are several examples provided of when to enter this and when not to enter the trade. There are also exercises with analyzed answers so that you can be sure you will be doing correctly when you start using it.
Forex Runner
The second Forex Trading Machine method is called the Forex Runner and is set up more for day traders and is covered from pages 127 to 149. This method has been designed to make an average of about 3 traders per day and is set up with small stop losses, large profit objectives and a large percentage of winning trades.
To trade the Forex Runner system, you would need to be trading in one of the super liquid currency pairs where you can get a better spread to increase your profits. In fact Avi Frister recommends using it for the EUR/USD pair.
Entries are determined by price moves (using PDFT) and exits are determined by a trailing stop loss. Exits are also triggered by time lapses - for instance, if profit targets are not achieved in set time, the trade is closed.
Forex Flip And Go
The final method that is taught in Forex Trading Machine is the Forex Flip & Go strategy, and is detailed from pages 150 to 166. This method identifies characteristics within certain currency pairs that commonly appear in their trading cycles and aims to exploit them. Again, this strategy is aimed more at day trading.
The Forex Flip and Go aims to capture a certain sequence of price moves that happen mostly during the opening of a market and make a quick profit from it.
I have covered the above 3 strategies in not very many words. Make no mistake that there is a lot of material to cover here. Avi Frister is very thorough in explaining what constitutes the set-ups and exit of each trade and there are many examples to show you what to do.
Forex Trading Machine Videos
You know how time consuming it can be trying to read your way through an amount of information to achieve your goals. Avi knows this too. So he recently added 9 information packed videos to the Forex Trading Machine so that you can watch and quickly take in all the vital information to increase your forex trading success.
The videos are made up of:
- 3 Cash Cow Strategy Videos.
- 3 Forex Runner Videos.
- 3 Forex Flip & Go Videos.
In fact, Avi has had such an overwhelming positive response to these video techniques that he has published a sample Forex Trading Machine Video for you to take a look at - just click that link. Incidentally, this video provides an introduction to the Forex Cash Cow Strategy mentioned above.
Should You Buy Forex Trading Machine?
The main reason for not buying Forex Trading Machine is that you trade fundamentals.
If you are a technical trader and are serious about trading forex, then I would honestly recommend that you consider buying it. I think it is always good to read up on other professional traders methods to give you a better insight into how to improve your trading.
Avi Frister is very thorough about showing you what and why a trade is set up which provides a good insight into the mind of a trader.
Also, remember that Forex Trading Machine is covered by a 8 week money back guarantee.
And don’t forget that Avi has some great bonuses lined up for you that come with Forex Trading Machine. The most attractive bonus is a free copy of Mark McRaes bestseller - Trading For Beginners .. This alone would cost you $49 if you were to buy it seperately!
So if you are trading the Forex and have a mechanical and technical approach to your trading, you should definitely take a look at the Forex Trading Machine Website.
Click Here to find out more about Forex Trading Machine
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