Successful Trader's Cheat Sheet
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Successful Trader's Cheat Sheet - NO

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.
What also is troublesome is the company (NOFT Traders) calls and wants to sell other products. Rob Booker is a marketing genius, like most traders in the limelight. I cant speak for his membership that he always pushes, but be careful of the indicators he pushes. He made it sound as if it was the greatest thing since sliced bread,. But I now know better about his word.
Currency prices are constantly moving, so the trader may decide to hold the position overnight. The broker will rollover the position, resulting in a credit or debit based on the interest rate differential between the Eurozone and the U.S. If the Eurozone has an interest rate of 4% and the U.S. has an interest rate of 3%, the trader owns the higher interest rate currency because they bought EUR. Therefore, at rollover, the trader should receive a small credit. If the EUR interest rate was lower than the USD rate then the trader would be debited at rollover.
In very basic terms, he teaches a simple strategy, and then coaches people to use it. His following is not massive - about 2,500 traders using it he says. At first I was very sceptical, because he seemed like an internet snakeoil salesman. But his honesty in being a sleezy internet salesman is refreshing. He will happily share how much money he makes from TFL (Trading For a Living) and how much from trading. He shares his losers as well.
One unique aspect of this international market is that there is no central marketplace for foreign exchange. Rather, currency trading is conducted electronically over-the-counter (OTC), which means that all transactions occur via computer networks between traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney—across almost every time zone. This means that when the trading day in the U.S. ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be extremely active any time of the day, with price quotes changing constantly.

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In the forex market currencies trade in lots, called micro, mini, and standard lots. A micro lot is 1000 worth of a given currency, a mini lot is 10,000, and a standard lot is 100,000. This is different than when you go to a bank and want $450 exchanged for your trip. When trading in the electronic forex market, trades take place in set blocks of currency, but you can trade as many blocks as you like. For example, you can trade seven micro lots (7,000) or three mini lots (30,000) or 75 standard lots (750,000), for example.
These articles, on the other hand, discuss currency trading as buying and selling currency on the foreign exchange (or "Forex") market with the intent to make money, often called "speculative forex trading". XE does not offer speculative forex trading, nor do we recommend any firms that offer this service. These articles are provided for general information only.
Never heard about Rob Booker. But if you interested in price action trading, Ichimoku trading & other PA based trading I would like to suggest Chris Capre for you. Because I completed few courses under him. Google 2ndskilesforex. Hopefully you can get to know more about him and there are loads of free articles, videos,analysis & other materials available there.
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.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for everyone. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Remember, you could sustain a loss of some or all of your initial investment, which means that you should not invest money that you cannot afford to lose. If you have any doubts, it is advisable to seek advice from an independent financial advisor.
Factors like interest rates, trade flows, tourism, economic strength and geopolitical risk affect supply and demand for currencies, which creates daily volatility in the forex markets. An opportunity exists to profit from changes that may increase or reduce one currency's value compared to another. A forecast that one currency will weaken is essentially the same as assuming that the other currency in the pair will strengthen because currencies are traded as pairs.
The indicators are free (you can find them on his website), and technically there is no reason you can't use his strategies without paying him money. But I made back the $27 in one or two trades, so I'm not fussed. Watching his videos and talking to other Trifecta users has a lot of value though. Rob himself is quite active in the community and always happy to answer questions. In general he seems like a really nice guy, if sometimes annoyingly enthusiastic. He'll happily give you advice on a trade, even if it's not one of his.
Well...I may be the only reviewer giving 5 stars to Rob Booker. I am a guy in my late 50's that started trading 12 years ago with no direction, a good chunk of capital and the dream of hitting it rich quick. To not bore you with my story here is the end of the chapter: I lost all of my trading account (close to six figures) in a year and a half of trading. I then stopped trading altogether until just 6 months ago. But this time I am older and wiser and made myself the promise to be patient and do it right. Easier said than done. But I have to say that I am consistently and profitably trading now thanks to Rob Booker. I didn't buy any "trade signals" (actually I don't think he sells any) but I listened to him and changed my mindset for trading. Not an easy task but I did it and thanks to him. Now, I would not recommend anyone to buy anybody's "signals" - learn who you are first and then follow a system, any system. The only enemy is yourself, not the market forces or bad "signal services". Cheers!

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The broker basically resets the positions and provides either a credit or debit for the interest rate differential between the two currencies in the pairs being held. The trade carries on and the trader doesn't need to deliver or settle the transaction. When the trade is closed the trader realizes their profit or loss based on their original transaction price and the price they closed the trade at. The rollover credits or debits could either add to this gain or detract from it.

For traders—especially those with limited funds—day trading or swing trading in small amounts is easier in the forex market than other markets. For those with longer-term horizons and larger funds, long-term fundamentals-based trading or a carry trade can be profitable. A focus on understanding the macroeconomic fundamentals driving currency values and experience with technical analysis will help new forex traders to become more profitable. (For related reading, see "Benefits & Risks of Trading Forex with Bitcoin")


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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A forex or currency futures contract is an agreement between two parties to deliver a set amount of currency at a set date, called the expiry, in the future. Futures contracts are traded on an exchange for set values of currency and with set expiry dates. Unlike a forward, the terms of a futures contract are non-negotiable. A profit is made on the difference between the prices the contract was bought and sold at. Most speculators don't hold futures contracts until expiration, as that would require they deliver/settle the currency the contract represents. Instead, speculators buy and sell the contracts prior to expiration, realizing their profits or losses on their transactions.


All forex trades involve two currencies because you're betting on the value of a currency against another. Think of EUR/USD, the most-traded currency pair in the world. EUR, the first currency in the pair, is the base, and USD, the second, is the counter. When you see a price quoted on your platform, that price is how much one euro is worth in US dollars. You always see two prices because one is the buy price and one is the sell. The difference between the two is the spread. When you click buy or sell, you are buying or selling the first currency in the pair.
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.
These articles, on the other hand, discuss currency trading as buying and selling currency on the foreign exchange (or "Forex") market with the intent to make money, often called "speculative forex trading". XE does not offer speculative forex trading, nor do we recommend any firms that offer this service. These articles are provided for general information only.
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