Thursday, September 3, 2009

Is Rob Booker Forex Training Any Good?

This is a question I receive often and unfortunately I can no longer give an honest answer which is the only answer that I ever want to give. This is due to the fact that I haven’t dedicated myself to Rob Booker’s training since 2006 making my experiences outdated. The good news is that over the coming months, I will be able to give you an honest opinion because I am in the initial phases of giving his tutelage another go. This is possible because he has no expiration date on his training. According to his training contract, "You have as long as you need. You never have to pay me anything again…."
At first glance, there have been many changes to his training. His chart school, which are Rob’s trade ideas for students in video format appear to be more interactive. He provides a web conferencing platform where any of his students can attend and ask questions via messenging or voice. Other basic course materials seem unchanged such as the course introduction, FX basics, backtesting, support and resistance, moving averages, and similar topics. These are really basic though and I don’t see any reason why these would ever change. The course materials are also for the totally inexperienced forex trader, someone who has really never explored Forex outside of this course.
His primary trading system which has many components to it is called the Arizona Rules. He was just developing this system back when I lost interest in his training so I haven’t really explored it. If anything, it seems like Rob’s attempt is to provide his students with a well tested and possibly profitable trading system while also providing a comprehensive trading plan and system that one can take knowledge from to develop their own forex trading system.

Economic Data Could Provide Basis for Higher U.S. Dollar

Dollar forex trading forecast
Economic data being released today could provide the basis for a higher U.S. dollar on the currency market. The U.S. dollar forex trading forecast has been linked to risk a great deal in the past months since the global financial crisis.
Right now, there is speculation that economic data will soon be showing some concerning information about where we are headed. GFT’s Boris Schlossberg reports on FX360 about the focus today:
In North America today, the focus is on ADP employment report with markets anticipating a -250K print. Although the ADP numbers has been notoriously spotty in matching the NFP results, any material deviation from consensus could still produce a meaningful impact on equities and risk FX. Yesterday’s sharp drop in stocks suggests that traders are beginning to have second thoughts about the recovery trade and if today’s ADP data disappoints we could see an acceleration of risk aversion flows as the day progresses.
So far, the U.S. dollar has been mixed in forex trading. The greenback is down against the pound, but up against the euro. Right now, gold prices are moving with the U.S. dollar against the euro in forex trading. Gold is gaining as safe haven investments become popular again.
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