In situations of economic uncertainty like we are facing right now, the best defense for your hard earned dollars is to be as well-informed and educated as you possibly can. Following the news that impact the markets, researching companies and following the markets should be a full-time job (unless you want to risk your money... you are probably better of at a roulette table).
When trading in the forex market, you're buying or selling the currency of a particular country, relative to another currency. But there's no physical exchange of money from one party to another. That's what happens at a foreign exchange kiosk—think of a tourist visiting Times Square in New York City from Japan. He may be converting his physical yen to actual U.S. dollar cash (and may be charged a commission fee to do so) so he can spend his money while he's traveling. But in the world of electronic markets, traders are usually taking a position in a specific currency, with the hope that there will be some upward movement and strength in the currency they're buying (or weakness if they're selling) so they can make a profit.
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Just like stocks, you can trade currency based on what you think its value is (or where it's headed). But the big difference with forex is that you can trade up or down just as easily. If you think a currency will increase in value, you can buy it. If you think it will decrease, you can sell it. With a market this large, finding a buyer when you're selling and a seller when you're buying is much easier than in in other markets. Maybe you hear on the news that China is devaluing its currency to draw more foreign business into its country. If you think that trend will continue, you could make a forex trade by selling the Chinese currency against another currency, say, the US dollar. The more the Chinese currency devalues against the US dollar, the higher your profits. If the Chinese currency increases in value while you have your sell position open, then your losses increase and you want to get out of the trade.
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Demo Account: Although demo accounts attempt to replicate real markets, they operate in a simulated market environment. As such, there are key differences that distinguish them from real accounts; including but not limited to, the lack of dependence on real-time market liquidity, a delay in pricing, and the availability of some products which may not be tradable on live accounts. The operational capabilities when executing orders in a demo environment may result in atypically, expedited transactions; lack of rejected orders; and/or the absence of slippage. There may be instances where margin requirements differ from those of live accounts as updates to demo accounts may not always coincide with those of real accounts.
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Challenge: Banks, brokers and dealers in the forex markets allow a high amount of leverage, which means that traders can control large positions with relatively little money of their own. Leverage in the range of 100:1 is a high ratio but not uncommon in forex. A trader must understand the use of leverage and the risks that leverage introduces in an account. Extreme amounts of leverage have led to many dealers becoming insolvent unexpectedly. Trading foreign exchange, stocks, options, or futures on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your objectives, financial situation, needs and level of experience. The Exotics Club provides general advice that does not take into account your objectives, financial situation or needs. The content of this website must not be construed as personal advice. The possibility exists that you could sustain a loss in excess of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.You should seek advice from an independent financial advisor. Past performance is not necessarily indicative of future success.
Oh yeah Tim - once I saw Robs post that he "didn't find second best trader here" and a picture of barclays bank this was a big red warning for me - Rob is so stupid that he can't even see difference between "barclay hedge" and barclays bank - any serious trader wold know this - so I bet with everything I have Rob is NOT a trader and NEVER traded profitably. So cheap of you to attack Jarrett - it is you who look like an idiot not Jarrett
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Yet curiously, Chapter 3 in Boris and Kathy's book Millionaire Traders (published in 2007) features an interview with none other than the same Mr Booker, the "100 pip trader" ("in less than 5 years, he's gone from being a $2,500 trader to a client of a major bank who trades a respectable size account" -- see p37). Assuming that B&K performed some background research before selecting their interviewees, then being the subject of such a book creates the impression that Rob has in fact made a 7 figure sum from trading. Hence I don't know what to make of it all.
Im starting to think there wasnt many subscribers as the run up to the release in January 2016 had a lot of fanfare (as mentioned earlier Rob is excellent at marketing) and it was made loud and clear only the 1st 100 subs would get in for $9/month...well weeks later and that was still the price. Either he never made it to 100 or it was just marketing. 240 “Exotics Club Daily Briefing” trades over the next 12 months! Remember, we get daily action in the club -- that’s fast money all year! You’ll receive this every morning, Monday through Friday. It contains the trade of the day, the detailed explanation of why that trade could break out for massive gains, and breakdown of the specific headlines we’re watching.And that’s just over the coming year. You’ll continue to get those trades every day (M-F) for LIFE!Over two years that means you’ll get 480 trades… three years 720 trades… You get 240 trades, year after year… after year! Oh yeah Tim - once I saw Robs post that he "didn't find second best trader here" and a picture of barclays bank this was a big red warning for me - Rob is so stupid that he can't even see difference between "barclay hedge" and barclays bank - any serious trader wold know this - so I bet with everything I have Rob is NOT a trader and NEVER traded profitably. So cheap of you to attack Jarrett - it is you who look like an idiot not Jarrett
Live Spreads Widget: Dynamic live spreads are available on Active Trader commission-based accounts. When static spreads are displayed, the figures are time-weighted averages derived from tradable prices at FXCM from July 1, 2019 to September 30, 2019. Spreads are variable and are subject to delay. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays, or for actions relying on this information. I enrolled in Robots coarse$297 +trend trade bundle$27. I felt that the Finch robot was worth it. As I have paid people to build me a equivalent robot which has cost me $300. After purchase a few weeks goes bye and Robots coarse is advertised for $97 limited time. (urgh) I assumed after watching all his you-tube videos about the Finch robot, that it is profitable and assumed it was hands free (%100 Automated) but just like most trades or Robots there must be intervening to get the robot out of bad trades. I see some hope with the robot but its money is mostly made bye the bad trades when you need to add trades to average out all trades to break even or make money if you can stomach the stress to get your %5-%15 draw down back to profit. It worries me that this might just be another short lived marketing tool, and this honeymoon Finch style robot dies out, and something different will be advertised for sale.
As for the trading robots, Rob bookers robots come in a package that’s being sold for $297. The current purchase includes access to the 6 best trading robots, a new robot every month, as well as updates for life. Unlike other developers, Rob Booker also provides access to the code for his robots and provides a daily webinar to show traders how the robots can be utilized. There are two main trading robots, and a handful of others.
Challenge: Banks, brokers and dealers in the forex markets allow a high amount of leverage, which means that traders can control large positions with relatively little money of their own. Leverage in the range of 100:1 is a high ratio but not uncommon in forex. A trader must understand the use of leverage and the risks that leverage introduces in an account. Extreme amounts of leverage have led to many dealers becoming insolvent unexpectedly.
Im starting to think there wasnt many subscribers as the run up to the release in January 2016 had a lot of fanfare (as mentioned earlier Rob is excellent at marketing) and it was made loud and clear only the 1st 100 subs would get in for $9/month...well weeks later and that was still the price. Either he never made it to 100 or it was just marketing.
Challenge: Banks, brokers and dealers in the forex markets allow a high amount of leverage, which means that traders can control large positions with relatively little money of their own. Leverage in the range of 100:1 is a high ratio but not uncommon in forex. A trader must understand the use of leverage and the risks that leverage introduces in an account. Extreme amounts of leverage have led to many dealers becoming insolvent unexpectedly.
Im starting to think there wasnt many subscribers as the run up to the release in January 2016 had a lot of fanfare (as mentioned earlier Rob is excellent at marketing) and it was made loud and clear only the 1st 100 subs would get in for $9/month...well weeks later and that was still the price. Either he never made it to 100 or it was just marketing. From a historical standpoint, foreign exchange trading was largely limited to governments, large companies, and hedge funds. But in today's world, trading currencies is as easy as a click of a mouse. Accessibility is not an issue, which means anyone can do it. Many investment firms, banks, and retail forex brokers offer the chance for individuals to open accounts and to trade currencies.
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240 “Exotics Club Daily Briefing” trades over the next 12 months! Remember, we get daily action in the club -- that’s fast money all year! You’ll receive this every morning, Monday through Friday. It contains the trade of the day, the detailed explanation of why that trade could break out for massive gains, and breakdown of the specific headlines we’re watching.And that’s just over the coming year. You’ll continue to get those trades every day (M-F) for LIFE!Over two years that means you’ll get 480 trades… three years 720 trades… You get 240 trades, year after year… after year!
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Oh yeah Tim - once I saw Robs post that he "didn't find second best trader here" and a picture of barclays bank this was a big red warning for me - Rob is so stupid that he can't even see difference between "barclay hedge" and barclays bank - any serious trader wold know this - so I bet with everything I have Rob is NOT a trader and NEVER traded profitably. So cheap of you to attack Jarrett - it is you who look like an idiot not Jarrett
rob booker backtesting
Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.
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Most brokers also provide leverage. Many brokers in the U.S. provide leverage up to 50:1. Let's assume our trader uses 10:1 leverage on this transaction. If using 10:1 leverage the trader is not required to have $5,000 in their account, even though they are trading $5,000 worth of currency. They only need $500. As long as they have $500 and 10:1 leverage they can trade $5,000 worth of currency. If they utilize 20:1 leverage, they only need $250 in their account (because $250 * 20 = $5,000).
There’s really a lot for us to chew on here but it’s difficult to make a full recommendation at this point in time. The website is very well put together, the podcast sounds great, and Rob Booker comes across like a knowledgeable trader. Yet, without testing any of these systems myself just yet, I am going to leave the review at 3 stars. I’ve read a few other reviews online, and there has been feedback on both sides of the spectrum so I don’t want to draw a conclusion just yet.
Yet curiously, Chapter 3 in Boris and Kathy's book Millionaire Traders (published in 2007) features an interview with none other than the same Mr Booker, the "100 pip trader" ("in less than 5 years, he's gone from being a $2,500 trader to a client of a major bank who trades a respectable size account" -- see p37). Assuming that B&K performed some background research before selecting their interviewees, then being the subject of such a book creates the impression that Rob has in fact made a 7 figure sum from trading. Hence I don't know what to make of it all.
{quote} Interesting. Rob is one high-profile forex 'guru' I've been watching for several years, and he seems to flit from system to system. For example, a few years back he was very enthusiastic about a system he called the Hopper (which was little more than a MACD crossover) which he was touting with his ladyfriend Jennifer Thornburg (who likes to write articles about Sex and Trading, btw). More recently Rob's been promoting EAs, including some that take profit quickly while allowing floating losses to...
Both types of contracts are binding and are typically settled for cash for the exchange in question upon expiry, although contracts can also be bought and sold before they expire. The forwards and futures markets can offer protection against risk when trading currencies. Usually, big international corporations use these markets in order to hedge against future exchange rate fluctuations, but speculators take part in these markets as well.
As soon as you get it, you’ll want to tear it open. Inside, you’ll find a flash drive with some confidential information we simply can’t release online. There’s an exclusive one-on-one interview with penny stock legend Tim Sykes… and some other surprises. And of course, it’s where you’ll find your Exotics Club Founder Membership Card, personally signed by me.
High Risk Investment Notice: Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. The products are intended for retail, professional, and eligible counterparty clients. Retail clients who maintain account(s) with Forex Capital Markets Limited ("FXCM LTD") could sustain a total loss of deposited funds but are not subject to subsequent payment obligations beyond the deposited funds but professional clients and eligible counterparty clients could sustain losses in excess of deposits. Prior to trading any products offered by FXCM LTD, inclusive of all EU branches, any affiliates of aforementioned firms, or other firms within the FXCM group of companies [collectively the "FXCM Group"], carefully consider your financial situation and experience level. The FXCM Group may provide general commentary, which is not intended as investment advice and must not be construed as such. Seek advice from a separate financial advisor. The FXCM Group assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of information, text, graphics, links or other items contained within these materials. Read and understand the Terms and Conditions on the FXCM Group's websites prior to taking further action.
A single pound on Monday could get you 1.19 euros. On Tuesday, 1.20 euros. This tiny change may not seem like a big deal. But think of it on a bigger scale. A large international company may need to pay overseas employees. Imagine what that could do to the bottom line if, like in the example above, simply exchanging one currency for another costs you more depending on when you do it? These few pennies add up quickly. In both cases, you—as a traveler or a business owner—may want to hold your money until the forex exchange rate is more favorable. Interesting. Rob is one high-profile forex 'guru' I've been loosely following for several years, and he seems to flit from system to system. For example, a few years back he was very enthusiastic about a system he called the Hopper (which was little more than a MACD crossover) which he was touting with his ladyfriend Jennifer Thornburg (who likes to write articles about Sex and Trading, btw). More recently Rob's been promoting EAs, including some that take profit quickly while allowing floating losses to snowball. Given all of this, I've never bought anything that he's been offering, and I've found it difficult to take him completely seriously.
