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."
For anyone not well acquainted with the Forex market there is excellent information presenting forex basics in a simple easy to understand style.
For me, having traded the forex for a couple of years now and always curious about different forex trading strategies, the value of this book was found 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, they did not particularly suit my style of trading. The first one for example requires a fairly large stop loss, beyond what my equity would allow so I didn’t give further consideration to it.
* The second strategy seems solid. It uses a maximum stop loss of 20 pips and it works particularly well with the GBP-USD and USD-CHF pairs due to their volatility. I tried it a few times with mixed results, certainly not long enough to give it a fair appraisal.
* · It was the third strategy that caught my eye, named "Flip & Go" by Avi Frister. It focuses on the EUR-USD pair and provides a sound strategy for milking part of the daily 80 or so pip movement of this pair.