Who wouldn’t be interested in a forex trading strategy that requires no interpretation or judgment? That is the claim made by Avi frister in his ebook “Forex Trading Machine.”
Curious, In has obtained a copy and absorb the 180 pages within a couple of hours. To be fair, the really interesting stuff starts on page 91, halfway through the book. That is not to say that the first 90 pages are filler, not at all. For anyone not familiar with the Forex market, there is excellent information the presentation of basic concepts of forex in a simple and easy-to-understand style.
For me, having traded the forex for a couple of years and always curious about the different forex trading strategies, the value of this book lies in the last of the 3 strategies Avi frister explains using price as the signal to enter and exit trades.
The Three Strategies
The first two strategies certainly seem good. However, it does not particularly suit my style of trading. The first of them, for example, requires a pretty large stop loss, beyond what my equity would allow so as not to give more consideration to it.
The second strategy seems solid. It uses a maximum stop loss of 20 pips, and it works especially well with the GBP-USD and USD-CHF pairs due to their volatility. I tried it a couple of times with mixed results, certainly not enough time to give you a fair valuation.
It was the third strategy caught my eye, named “Flip & Go” by Avi frister. Focuses on the EUR-USD pair and provides a good strategy for the milking part of the daily lives of the 80 or so pip movement of this pair.
I’ve been using it for the last couple of months and I’m happy with the results. In hesitate to give figures as to the trade of the currency is an individual area and it is unfair to raise hopes or suggest other you will get the same results. Some may get better results, others may not do very well. More on this in a moment. I’m just going to say that I am pleasantly surprised that the consistency of profitable trades and the set of pip gain each month.
Do You Have The Discipline?
Now, to address the issues raised on why individuals may have different results. Avi frister stresses that the strategies that the details in “Forex Trading Machine” are purely mechanical and do not require interpretation or judgment. When you read and analyze his strategies he is quite correct.
But here is the problem. Probably a relatively small number of people will have the discipline or have the determination to develop the discipline, the two follow the strategies without emotion and without allowing the interpretation and the judgment of two creep.
After a forex trader has been trading a while, just put any chart in front of him and immediately the eyes start seeing all kinds of trends, patterns, support, resistance lines, candle patterns, etc, Trying to neutralize all these signals that pop out of any chart and just stick to the trading rules described in “Forex Trading Machine” the bigger challenge.
You may be able to see exactly what type of installation is explained in this book, but if your eyes are observing what appear to be contrary to signals, you are going to have the discipline to suppress your interpretation and just stick to the mechanical, price driven, trading criteria outlined in this book? There is the make or break factor of this ebook.
It Is Up To You
In conclusion, this is without a doubt a forex trading manual of a different kind. As to whether you are going to get significant benefits for any forex trader is going to depend on your mental discipline and attitude.
Title: Forex Trading Machine
Author: Avi Frister
Format: PDF Digital