Rob Booker Training Update

Well, the bottom line is that since my first winning trade, I have had all losers.  It is quite discouraging but part of trading and training.  Rob really recommends using a demo account or a mini-account but I'm going to continue to chug along here.  I am using a lot of Rob Booker's methods with a touch of emotion so my results are in no way related to his performance.  I'll be entering my trades later today so everyone can view my performance so far.  They will be listed to the left menu in, My Trading History or the My Goal & Performance links.

I'm going to put together a spreadsheet for this week to more closely analyze my losses.  Rob Booker's methods for trading the 15 minute chart really don't give more than a 1:1 risk/reward ratio and going forward I would like to keep track of maximum drawdown so that I can see if decreasing the stop/loss is possible.   

Popularity: 7%

Rob Booker 1 on 1 Training Going Well

So I ended today up 26 pips which surpasses the goal I set in the beginning of the week which was to end the week up 20 pips.  The week hasn't ended yet though and I'm not going to stop trading because I'm learning. 

I know 26 pips doesn't sound like a lot but I really have to attribute this to Rob Booker.  I also have to admit that I really haven't talked to Rob much since starting the training but from his Chart School and other lessons I've been able to gain more confidence and clarity.  I'm thinking that I will have more questions once I'm a little furthur along.

Popularity: 4%

New Forex Trading Goal and Performance

I've been keeping track of my performance for the past 18 weeks where every trade has been recorded and end of week performance graphed.  I have since created a new goal and performance page since signing on with Rob Booker 1 on 1 training.  The old page is still intact and the link to it can be found from the new page at http://www.forexproject.com/My_Forex_Goal/ or from the left menu, My Goal & Performance.

My long-term goal remains the same, quit my day job and trade full-time.  Isn't this goal what we all stive for?

My goal this week is to just net 20 pips!  That's it.  It doesn't sound like much but from Rob Booker's recommendation, that's what I'm sticking to.

Popularity: 1%

Rob Booker Day 1

My first day of 1 on 1 training was consumed by just getting acclimated to the program.  I received a couple of generic welcome messages from Rob just to get me on track and then later, we were able to exchange some real messages back and forth.  Rob is on a trip in Washington D.C. writing his book so for him to respond quickly away from his home base is positive.

I went through the first 3 days of the course work which includes PDF and video tutorials.  At the end of each day, you have some real world exercises to perform that are submitted to Rob for review.  Day 1 consisted of the Course Introduction which included some of Rob's trading techniques, information on trading multiple time frames, when to trade, and trading the NY session.  Rob seems to be stressing the fact that if you are a short term trader, trading the NY session is your best option (and maybe only option.)  He has provided steps to trading the NY session.

I skipped Day 2 coursework because it was really for beginners like definitions of pips, currency pairs, etc. 

Day 3 was an overview of moving averages.  I don't think I'm giving anything away if I told you that Rob really likes the 5, 30, 62 EMA's.  This has been well documented on the web.  Just from my own experimentation on 15-minute and hourly charts, I can see why he likes them.

Rob stressed to go directly to the Support/Resistance training which I have started but not yet completed.

I'm guessing that initially I'll be going over a lot of the videos and PDF lessons keeping an open mind on the content that is presented.   

An exciting feature of the 1 on 1 training is group trading.  Rob will partner me up with a group of 4-5 other traders in the world and together, you will determine setup opportunities.  Together we will trade a demo account.  He just asked me what hours I could trade so he can partner me up with a group that can cover the entire 24 hours of trading action.  I can share more with you when I know more.

1 question I asked Rob was how he found the time to trade while he was working full-time.  His answer?  It was brutal because he was waking up at 2am to 3am every day for a long time to trade.  (No pain, no gain)  I'm trying to figure out when I'm going to dedicate time to trading during the 2am-11am EST time frame.  Rob states that getting up to trade at 4am EST will give me many trading opportunities.

Rob is currently working to help me develop a trading strategy and I've made it known to him what I'm interested in (technical indicators.)  He should have some concrete rules that I can tune in a couple of days.

I've received a lot of responses from you with praises of good luck and curiousity.  Thanks for the thoughts.  I feel that this training will not only be beneficial for me but also for all of you.  It has already single handedly increased my motivation and confidence and if I can be successful after training, some of you may decide to go that route also.  I will try hard to give daily updates on my progress.   

Popularity: 1%

I Signed Up For Forex 1 on 1 Training

I have felt totally lost over the last couple of months.  I have books, charting software, a blog where I receive numerous helpful comments from all of you and yet I don't really have a trading strategy.  I've dedicated a lot of my time to this and though I'm in the early stages, I feel like I need to head off any of the "giving up" feeling that may be entering my mind.  I know that going forward if I don't do something to stimulate my learning process, my blog will be yet another sitting around with stale content because I'm off working for the man again with no thoughts of being free.

So what did I do?  I signed up for 1 on 1 training with Rob Booker.  The training will officially last 5 weeks.  I trust Rob Booker and have been exposed to his recommendations and articles in the past. Here is a quick course overview.  I will keep everyone updated on the training.

Anyone interested in reading more about it can visit: https://www.robbooker.com/training.html 

Course Overview: 

1 on 1 training is exactly what
it sounds like: it's where you and I work every day, by
instant message, phone, videoconference, and email, and
we turn you into the kind of trader that your mother (or
spouse) would be proud of. We work together officially
for 5 weeks — following the course outline below — but
I will work with you for as long as it takes for you to
be a consistently profitable trader. I
guarantee it.

This is not some ridiculous
course that you buy and read and then find impossible
to profit from. It makes me sick to my stomach when
I hear that someone has spent $2,000 or $3,000 for a book-based
system. You don't need a book. You need a mentor.

During the training, I become your
mentor and your coach with one mission: to dramatically
improve your trading results.

Training officially lasts 5 weeks.
But we will not stop working until you are successful,
or we're both dead. Note: no one has ever died. Every
one I've trained has been successful.

You will have my phone number.
This is about getting personal advice from someone who
has been in the market. I can help you correct your mistakes
and speed up your path to trading success.

You will receive course materials,
30-40 assignments, and at least 80 hours of total instruction.

I worked with 41 traders in 2003.
All of them are still going strong.

You will always be able to contact
me, even after the training is complete. You will be part
of a growing network of people I've trained, all across
the world.

I have training references. You
can request them from me if you are thinking of signing
up.

Popularity: 2%

Raghee Horner the New Winner’s Circle

Remember me mentioning Raghee Horner’s training that was being offered for $5000 a couple of months ago? I just received an email and it looks like that sales pitch didn’t work well because they now have another offer.  It’s the pay as you go option where you pay $795 up front and $195 a month for 18 months.  You receive basically everything that Raghee has to offer on her website including books, cd’s, newsletters, weekly webinars and nightly trading room.  I like Raghee and her simplified style of trading but how much more can you learn from her that you haven’t already read in her book.  I know one of you stated this when I was thinking about shelling out cash for a personal mentor and it changed my view of these expensive training programs.  I don’t know if any of you have done this but it would seem like paying for a program where you get to personally sit next to a established trader would be beneficial.  I know that John Carter offers that type of program.

If anyone has any good experiences with paid training, please drop me an email or comment on this post.  It’s impossible to research this on the web as there are so many "unknowns" with the websites that offer this.  Thanks. 

Popularity: 1%