Forex Trading Machine Review
Avi Frister, author of the eBook “Forex Trading Machine”, has revolutionized how traders approach the Forex market. His system relies only on mechanics, forcing you to become a cold, trading machine, as his book is titled. There is little room for emotion; if you follow his system every step of the way, the system will bring in a nice profit time and time again.
“Forex Trading Machine” is divided into two sections. The first six chapters of the eBook go over all of the forex basics. Do you know exactly what a pip is? This book will explain it within these chapters. The most important of the chapters, and the ones that will have the most effect on how much money you make with this system, are the ones that cover how to deal with your psychology. Mind control, if you will, is the subject of those chapters.
On page 74 of the book, Avi Frister mentions that almost 95% of forex traders will not make it in the business. They will either go bankrupt or their nerves will force them into an early retirement from forex trading. But Avi explains that these 95% of people did not make it because of a faulty trading system or anything like that.
Avi explains that having a discipline over the mind is the most important thing. If you can take hold of your emotions, then you will prosper in this system. Many are consumed by two things: Greed and fear. Greed, in that many traders will go for a trade which is very risky but may be a profit of thousands of dollars, and end up losing money. Fear, in that the trader may never take a big enough risk to make enough. Avi says that if you can control these factors, then you are well on your way to making big money.
That is why many people are looking for automated forex trading systems these days. Traders want to put out all emotion from trading, and allow themselves to trade based on a purely analytical level. You have to trade like a robot if you want to make money with the “Forex Trading Machine”.
And I believe this is the best system to make money with.
The three strategies listed in the book require a stop loss of a certain amount of pips, but usually target a profit of double of those pips. Some may go for the 50 pip stop loss, while others may be fine with the 15 pip stop loss. There is a strategy in there for every type of trader.
When you decide which route you would like to take, the book gives you a exact set of instructions to follow. Following these instruction to the tee is the most important thing to do when trading. After reading the instructions, all you have to do is initiate the trade, then walk away.
Both beginner and more advanced traders will benefit from this book. There are enough basics in the book more the beginner to become comfortable with trading, while there are enough secrets and psychological training to benefit the most advanced of traders.
The addition of “Forex Trading Machine” will greatly enhance the ability of any trader.
