Forex Trading machine is an 182 page ebook by Avi Frister that does away with all the typical financial indicators like pivot points, moving averages, chart patterns, and what not. 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 Frister calls his system a machine because it really is quite simple and fairly well automated. It requires you to check a couple of numbers on a daily basis and when the conditions are right, it shows you how to strike and reap the rewards while minimizing your risk. There are 3 main strategies in the course:
Cash Cow Strategy 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.
It takes you a couple of minutes a week and is aimed at people who don’t really have time to constantly monitor the market.
- Step 1: Check of conditions of trade have been met.
- Step 2: Based on your previous set of conditions sets the trade based on the conditions of the previous day.
- Step 3: Get the results.
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.It aims to produce consistent profits of around 40 pips and limits your losses to around 15 points or less.
As with the previous trading systems it’s 100% mechanical so you just follow the steps.It uses pre-set profittargets so you don’t speculate on when to take your profit.
Forex Runner Strategy is another strategy for day trading. It’s purely mechanical and based solely on what price is doing.It takes about an hour or so to get started and allows you to trade consistently and profitably.
- Step 1: Choose your trading timeframe that best suites you.
- Step 2: Choose the currency pair you want to trade.
- Step 3: Apply the forex runner rules from forex trading machine
- Step 4: Identify a trade from the rules, then buy or sell.
- Step 5: Get the results.
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.
The ebook also comes with a free bonus copy of trading for beginners by mark mcrae which is also makes an excellent read. The ebook currently retails for $49 at mark McRae’s website.
Apart from the bonus ebook there are 9 videos. The videos are supplemental lessons to the main course and should only be watched after going through the main book course.