Forex Trading Systems Review

Contents

• Editor’s Note 
• The Truth Behind Trading Systems 
• Psychology of Trading a Trading System 
• We Want You To Win 
• What's The Right Kind of System For Me? 
• Bonus Section 
• Review - Forex Trading Machine 
• Review - 10 Minute Forex Wealth Builder 
• Review - Instant Forex Profit System 

Editor's Note:

Unlike a lot of Internet marketers who promote Forex trading systems, but who have no understanding of currency trading, I have been trading for over 41 years.

This experience enables me to judge the quality of a Forex trading system, and to help you make logical and informed decisions on the type of system best-suited for you.

Any of the three products I recommend below qualify for a “strong buy.”

The Truth Behind Trading Systems

There’s no get-rich-quick formula. Period. 

The 3 systems reviewed below-- “Forex Trading Machine," "Instant Forex Profit System", "10 Minute Forex Wealth Builder" - or any other market trading system for that matter, are simply tools. 

Buying a hammer and a saw doesn't mean you can build a house.  Buying a trading system isn't going to make you rich.  Proper use of a good system, like the three reviewed here-- and they really are good systems-- can make you rich.  So why do most traders lose money?  It's not the system - it's the trader.

Psychology of Trading a Trading System

It's a funny thing about trading systems-- in the stock market, or the commodity markets, or the currency (Forex) market. When people lose money, it's usually not the fault of the system, it's the fault of the trader. The primary reason is that fear and greed and wishful thinking get in the way of following the system's rules.

It's a strange fact that most of us are wired in such a way that simple, easy rules aren't easy to follow, at least at first, because our minds want to tell us that we're smarter than the system. We think that this one looks like a really good signal, so we ought to double up, and of course the trade fails. Or we just made 6 good trades in a row, so maybe we shouldn't take this one, which of course turns out to be a dynamite trade.

Then, angry that we missed a good trade, we take a signal that isn't really a signal at all, just because we want some action, and we lose money. Can you guess that I've been there and done that?

We Want You To Win!

Most people will lose money trading the markets-- any market-- because they can't control their emotions, because they don't understand what they're doing, and because they have unrealistic expectations.

You can, however, build a profitable "Forex Trading Machine" by following some simple rules. The systems we recommend below can help you be part of the small group of winning traders.

Just be warned--  A good currency trading system may be simple, but it's not easy, at least at first. Religiously following a good system is, however, your best chance to become a successful trader. Start small, follow the rules, and don't risk more than 2% of your trading capital on any one trade.

What's The Right System For Me?

There are hundreds of trading systems available on the market today. Here are a few quick things to think about before buying or using a Forex trading system.

Question: Does the system require analysis, interpretation and judgment?
Answer: Some do, whereas others, based on specific rules, don’t.

Question: Are there trading systems for both the novice and experienced trader?
Answer: YES! The "Forex Runner Strategy" and the "Forex Cash Cow Strategy," for example, are good for beginners.

Question: How much time and effort do I need to devote to trading?
Answer: Some systems require a lot of time, while others can be traded in a couple of minutes in the morning to establish an entry, an exit, and a stop-loss, based on collecting just a couple of pieces of information from yesterday's trading.

The Editor’s Pick

In my view, the best trading systems, especially for beginning and intermediate traders, are ones that require no interpretation or analysis and which automatically recommend a course of action, given a particular set of circumstances.

These simple, rule-driven systems take the second-guessing and stress out of the trading equation. The Forex Trading Machine by Avi Frister, reviewed below, is a perfect example.

Start Small, Win Big.

All three Forex trading systems we review below cost less than $100.00, and will help you become a successful trader, without requiring that you become an expert in fundamental or technical analysis. If one of them interests you, click on the highlighted link, which will lead you to more information about the package on the seller’s site.

Bonus  
If you choose to purchase any of these products through our site, forward a copy of your receipt to info@ForexReviewPro.com  and we will send you 10 short, easy-to-read articles from different writers who discuss the psychological aspects of trading, along with information on how to get started in Forex trading. You'll also receive articles on money management, the importance of abiding by a sound system, and similar related topics.

 

ABSOLUTE SATISFACTION POLICY
All three of the products reviewed below have 8-week no-questions-asked refund guarantees, all have good customer service via e-mail, and all are available for immediate download.

OK-- to the reviews:

  Forex Trading Machine

Avi Frister's Forex Trading Machine package teaches three easy-to-use strategies that are based on price action alone.  They are sometimes called "Price Driven Trading" or "PDFT" strategies. 

Strategy #1   - "Cash Cow Strategy" is a swing-trading (usually 1-2 days) PDFT strategy that typically occurs several times each month.  There is no judgment or analysis involved-- only simple "If A=B, do C" sorts of rules.   No indicators, no oscillators or moving averages, no having to interpret support and resistance levels or trend lines, or any of that.  No trading platform or data collection services required.  This Forex Cash Cow Strategy controls risk via exit rules and stop-loss orders, and the system works in both trending and choppy markets.  Trades are entered in the morning, if indicated, based on yesterday's data, which takes just seconds to collect.

Strategy #2   - "Forex Runner", sometimes called "FX Runner", is a strategy designed for daytrading.  It consistently catches profitable trades, using tight stop losses and a pre-determined profit objective.  No worrying about when to exit.  You exit when you attain your profit, or when you get stopped out, all according to the rules.  No stress, no emotions.

Quick thought...
I suppose I should note that some people criticize strategies that set pre-determined profit targets, because they violate one of the pieces of conventional wisdom in trading any market, which is "let your profits run".  The problem here, and it was always my biggest problem, is that in letting your profits run, you eventually have to decide when to sell.  All too often greed or hope sets in, you don't sell, the trade reverses, you keep holding on waiting for the recovery from the retracement, and the decline continues, and you end up losing money, when you could had a profit.  The pre-determined profit targets in "Forex Trading Machine" are a strength, not a weakness-- they keep the system mechanical and unemotional and force you to take lots of small profits.  That's a good thing!

Strategy #3   - "Flip & Go" is a similar strategy, which capitalizes on the fact that the U.S. Dollar/Eurodollar pair has a certain characteristic behavior known by many professional traders.  The Flip and Go strategy "piggybacks" you, in effect, on the moves created by the pros who trade this behavior.  Again, very tight stop-losses, and relatively much larger, pre-set, profit objectives.

Product Summary
The "Forex Trading Machine" package includes a downloadable, 180-page manual, suitable for people totally new to the Forex market.  One of the reasons I like this product is that it's a complete learning tool, covering not just the mechanics of using the three systems, but also such things as trading psychology and money management, the logic behind the three systems so that you understand why they work, etc.  The manual is accompanied by nine video lessons, three on each strategy, to walk you through several trade examples. 

We like this package for its simplicity, its extensive manual, and the fact that there are three different strategies, to fit different personalities, and to provide some diversification and smoothing of results. 

To recap:

• Three simple, completely mechanical strategies for beginners and seasoned traders 
• Stress-free trading - easy-to-follow rules for entering and exiting 
• Unique day trading strategy uses pre-set, very tight stops and healthy profit targets 
• Comprehensive manual and 9 high-quality videos 

10 Minute Forex Wealth Builder

Dean Saunders ran his trading account to nothing, then stepped back and vowed to design a system that would require only 10 minutes a day, use no lagging indicators, keep him out of unprofitable trading periods, and provide consistent, stress-free profits.  We think he has done so, with his "10 Minute Forex Wealth Builder System", or "10MFWB."  There are two parts - a breakout system and a swing system.

Both these systems are specifically designed to keep you from falling victim to fear and greed, overtrading, and late entry.  Together, they provide approximately 60-70% wins, with an average win amount about twice the average loss amount.  That's not quite a license to steal, but it's close.  These systems do require a trading platform but it comes free with the package.  The systems normally generate 2-3 trades per week, following 8-10 currency pairs and taking only the best setups.  Exits are predefined, so once the rules say to place a trade, you also place your stop loss and your exit, and go on about your life. 

These two systems are not quite 100% mechanical, as they do require you to make a judgment about the overall trend of the market, and to look for "setups" to initiate a trade.  These setups are a simple price configuration you will quickly learn to spot.  The systems are accompanied by 10 video tutorials.

Because these systems are a little less mechanical than the Forex Trading Machine systems, we like 10 Minute Forex Wealth Builder just a little bit less than Forex Trading Machine, but we still highly recommend that you take a look at it.

• Takes only 10 minutes a day 
• High win/loss ratio 
• Wins twice as large as losses 
• Keeps you out during choppy periods 
• Removes emotion and limits risk 

  Instant Forex Profit System

This is the simplest system of the three reviewed.  You simply plug the high, low and close for a currency pair for the previous week, and the week before that, into the program.  In a few seconds, the program returns instructions to go long at a certain price, or go short at a certain price.  If the trade is entered, you set a 30-pip stop loss, and an 80-pip profit target, and you're done.  You can collect the data, run the program, and enter the orders in five minutes a week.

If there is a weakness to this system, it lies in its utter simplicity, which will turn some people off from even trying it, and will cause some people to try to outthink it.

Probably for that reason, there is also a more aggressive method of using the strategy, also with simple rules.  No analysis or interpretation, no sophisticated or complicated indicators, no trading platform-- just nice profits, more often, and larger, than the losses. 

The developer is a Ph.D. from Oxford University, who retired from a professorship to trade the forex markets.  Performance stories can be misleading, but the developer states that he ran his $3,500 initial stake to $145,000 in two years.  Professors, by nature, tend to be conservative, so one could infer that the performance was probably not due to a few spectacular trades that can't be duplicated.

This is a perfect system for an absolute beginner, and comes with free access to future software updates.

• Takes 5 minutes a week 
• Tight risk control 
• Very simple system - perfect for beginners 
• No chart reading or analysis 
• Free software updates for life of product 

Absolute Satisfaction Policy

All of the products reviewed above allow you 8 weeks to put them through their paces. If - for any reason - you are not happy with them, you can instantly get a complete refund.

No games, no fine print, not even a good story or any other excuse required. Absolute satisfaction or you don't pay - period.