There is one forex book written by Avi Frister which is being sold far more than any other on the internet today. The course contains a lot of newbie basic material but later in the book, Avi reveals his strategy for banking lots of money using 3 systems. Avi does not use indicators. He uses price action to determine when to get in and when to get out.
Ari Frister's Forex Trading Machine is a 100% mechanical trading system and the Forex Trading Machine consists of a 150 page downloadable e-book that is produced by an experienced trader with more than 11 years in the business. In the Forex Trading Machine, Avi Frister presents 3 different trading strategies that he uses and that he has found to be the most successful. Two are intra day trading systems, the other is a swing trading system. In Forex Trading Machine, Avi has identified what he calls the Price Driven Forex Trading (PDFT) method of trading the Forex Market.
Note, here you are not taught here pivot points, chart patterns, moving average, Bollinger bands and other techniques that require discretion and judgment. The focus is rather on strict entry and exit rules and looking solely at price action and eliminating subjectivity. No matter what sort of trader you are, all bases are covered here, including trading psychology and money management. You get pre-determined money management rules and 3 separate trading strategies to choose from based on your trading style.
In the Cash Cow Strategy, you are given a few trades per month, whereas with the other two you will find that the system throws up 3 or more possible trades per day and is set up with small stop losses.
This system relies on price action and doesn't make use of indicators (indicators cannot replace what price action can tell you). The Forex Cash Cow is a swing trade method which uses a daily chart and if the prices moves so far during one day, if the next day filters are hit, your chances of a 100 pip gain are good. This setup only occurs 3-4 times per month but is reasonably accurate. It's more successful with the GBP/USD and EUR/USD pairs so I wouldn't use it with any other pair. Note being completely a mechanical trading system this means that it requires no discretion, interpretation, or judgment. You will simply learn to follow strict rules: if A = B then do C!
Good Points About the Forex Cash Cow Strategy:
Learn more about this forex trading system here Forex Cash Cow Strategy
He also has a couple of great day trading strategies, but they are more risky. Personally, I prefer the Forex Cash Cow Strategy but for those of you who like trading everyday -:
The second Forex Trading Machine method is called the Forex Runner and is set up more for day traders. 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.
The final method that is taught in Forex Trading Machine is the Forex Flip & Go strategy. 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.
It is definitely a new and unique method of trading. It comes with a 58 day Money Back Guarantee, so if you are not happy with the results just ask for a refund.
I am convinced the system works - with wider stop losses, up to 300 pips away, and using common sense, i.e., do not open a trade near support or resistance, and widen the profit targets when near Fibonacci levels. The truth is, it is an eminently simple system, but there is no need to trade it mechanically.
You can learn more about each separate strategy here: Price Driven Forex Trading
This is what Mr Avi Frister -- a full time professional Forex Trader and Educator -- reveals in his unique Price Driven Forex Trading Method -:
Forex Runner |
Forex Cash Cow |
Forex Flip & Go |
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There are lots of great strategies available for Forex trading. The problem is most traders don't have the patience, discipline, and money management skills to make it in this business. It's not hard to trade successfully over time as long as you remain consistent in your trading strategies and set your stop losses and take profits while letting your trades play out.
Have any of you been exposed to this program, heard feedback or better yet, taken the course? Forex Trading Machine / Avi Frister. What do you think about him and his forex trading systems? Send us your feedback by filling the form below.
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