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.
Overall, I can highly recommend this product as each strategy is easy to follow and implement, and more importantly is capable of producing regular profits.