Successful Trader's Cheat Sheet
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More specifically, the spot market is where currencies are bought and sold according to the current price. That price, determined by supply and demand, is a reflection of many things, including current interest rates, economic performance, sentiment towards ongoing political situations (both locally and internationally), as well as the perception of the future performance of one currency against another. When a deal is finalized, this is known as a "spot deal". It is a bilateral transaction by which one party delivers an agreed-upon currency amount to the counter party and receives a specified amount of another currency at the agreed-upon exchange rate value. After a position is closed, the settlement is in cash. Although the spot market is commonly known as one that deals with transactions in the present (rather than the future), these trades actually take two days for settlement.

A spot market deal is for immediate delivery, which is defined as two business days for most currency pairs. The major exception is the purchase or sale of USD/CAD, which is settled in one business day. The business day calculation excludes Saturdays, Sundays, and legal holidays in either currency of the traded pair. During the Christmas and Easter season, some spot trades can take as long as six days to settle. Funds are exchanged on the settlement date, not the transaction date.


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")

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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.
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.
So far, so good. I saw good consistent gains the first 2 months I used it. Remarkably consistent actually. About 4-6% per week for about 9 weeks in a row. Which was encouraging. Then, however, I got a bit cocky and went in way too big on a long NZD/USD trade about 2 months ago, and I've been fighting my way out of it ever since. But that was really my own fault. There's no reason I should have ended up in a position where I had a loss so big I couldn't manage my way out, if I had been following the rules.

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Its such a shame to write a negative review as I actually think Rob is a nice guy... I like some of his non trading ideas a lot...eg Im now a lifetime subscriber to brain.fm thanks to one of his emails (which overall are great). Rob seems to be good at motivating people and in my opinion teaches correct mindset however his actual trades are terrible! I signed up for the booker report and without one word of a lie he had a 100% failure rate. Honestly ...every single trade went against him Whats really worrying is that he says things like 'Im buying Oil at $30 and Ill buy more at $25 and even more at $20 etc etc' because its a bargain...this is buy and hold investor thinking...not trading.
Apart from the podcasts, Rob has also brought on board a few writers who publish their supposed success stories. For example, I came across one post from a guy who claimed that he was ranking among the top 5 technical currency analysts yet he was not making profits during the early stages of his trading career. Then as time went by, he learned how to do it right. All of a sudden, this guy started making $1,000 a day by trading what he had learned.
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.

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So far, so good. I saw good consistent gains the first 2 months I used it. Remarkably consistent actually. About 4-6% per week for about 9 weeks in a row. Which was encouraging. Then, however, I got a bit cocky and went in way too big on a long NZD/USD trade about 2 months ago, and I've been fighting my way out of it ever since. But that was really my own fault. There's no reason I should have ended up in a position where I had a loss so big I couldn't manage my way out, if I had been following the rules.
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.
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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.
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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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.

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Currency trading was very difficult for individual investors prior to the internet. Most currency traders were large multinational corporations, hedge funds or high-net-worth individuals because forex trading required a lot of capital. With help from the internet, a retail market aimed at individual traders has emerged, providing easy access to the foreign exchange markets, either through the banks themselves or brokers making a secondary market. Most online brokers or dealers offer very high leverage to individual traders who can control a large trade with a small account balance.

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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.
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Its such a shame to write a negative review as I actually think Rob is a nice guy... I like some of his non trading ideas a lot...eg Im now a lifetime subscriber to brain.fm thanks to one of his emails (which overall are great). Rob seems to be good at motivating people and in my opinion teaches correct mindset however his actual trades are terrible! I signed up for the booker report and without one word of a lie he had a 100% failure rate. Honestly ...every single trade went against him Whats really worrying is that he says things like 'Im buying Oil at $30 and Ill buy more at $25 and even more at $20 etc etc' because its a bargain...this is buy and hold investor thinking...not trading.

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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.
The blender costs $100 to manufacture, and the U.S. firm plans to sell it for €150—which is competitive with other blenders that were made in Europe. If this plan is successful, the company will make $50 in profit because the EUR/USD exchange rate is even. Unfortunately, the USD begins to rise in value versus the euro until the EUR/USD exchange rate is .80, which means it now costs $0.80 to buy €1.00.
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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!


So far, so good. I saw good consistent gains the first 2 months I used it. Remarkably consistent actually. About 4-6% per week for about 9 weeks in a row. Which was encouraging. Then, however, I got a bit cocky and went in way too big on a long NZD/USD trade about 2 months ago, and I've been fighting my way out of it ever since. But that was really my own fault. There's no reason I should have ended up in a position where I had a loss so big I couldn't manage my way out, if I had been following the rules.
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.
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.

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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).

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.


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.
So far, so good. I saw good consistent gains the first 2 months I used it. Remarkably consistent actually. About 4-6% per week for about 9 weeks in a row. Which was encouraging. Then, however, I got a bit cocky and went in way too big on a long NZD/USD trade about 2 months ago, and I've been fighting my way out of it ever since. But that was really my own fault. There's no reason I should have ended up in a position where I had a loss so big I couldn't manage my way out, if I had been following the rules.

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So far, so good. I saw good consistent gains the first 2 months I used it. Remarkably consistent actually. About 4-6% per week for about 9 weeks in a row. Which was encouraging. Then, however, I got a bit cocky and went in way too big on a long NZD/USD trade about 2 months ago, and I've been fighting my way out of it ever since. But that was really my own fault. There's no reason I should have ended up in a position where I had a loss so big I couldn't manage my way out, if I had been following the rules.

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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.

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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.

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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.

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