Successful Trader's Cheat Sheet
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The currency exchange rate is the rate at which one currency can be exchanged for another. It is always quoted in pairs like the EUR/USD (the Euro and the US Dollar). Exchange rates fluctuate based on economic factors like inflation, industrial production and geopolitical events. These factors will influence whether you buy or sell a currency pair.
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The blender company could have reduced this risk by shorting the euro and buying the USD when they were at parity. That way, if the dollar rose in value, the profits from the trade would offset the reduced profit from the sale of blenders. If the USD fell in value, the more favorable exchange rate will increase the profit from the sale of blenders, which offsets the losses in the trade.

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Get his custom indicators. There's 2 of them. One of which plots all daily, weekly and monthly pivots that have ever been on the chart, and marks which ones were "missed" on the day/week/month they were formed. These are important, because he noticed ages ago that when price misses a pivot because it is moving strongly in one direction, it has a tendency to retrace towards that pivot when that driver runs out of steam. Relative to the time frame we're talking about
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.
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 is a forex seminar entertainer, a forex "systems" marketer and he is not a successful trader. I can say this from plenty of personal experience: I attended two of his seminars, co-taught another one with him in Canada, and am mentioned in his book. Once Rob held a contest to see who could submit the most profitable system. A guy wrote an elaborate description of a "winning system" and submitted it, knowing full well that it was a system that was a guaranteed loser. Rob awarded him first place, lol, and never tested the system! Rob makes nearly all of his (big) money from selling systems-of-the-month (stuff you can easily find online.) He has not been seen on FF since professional trader Phil McGrew (look him up here--his posts are gold) made him his "buddy" and would speak the truth whenever Rob would post. Stay far away from this clown.

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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.
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.
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.
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.
An investor can profit from the difference between two interest rates in two different economies by buying the currency with the higher interest rate and shorting the currency with the lower interest rate. Prior to the 2008 financial crisis, it was very common to short the Japanese yen (JPY) and buy British pounds (GBP) because the interest rate differential was very large. This strategy is sometimes referred to as a "carry trade."
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.
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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The blender company could have reduced this risk by shorting the euro and buying the USD when they were at parity. That way, if the dollar rose in value, the profits from the trade would offset the reduced profit from the sale of blenders. If the USD fell in value, the more favorable exchange rate will increase the profit from the sale of blenders, which offsets the losses in the trade.

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.
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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Most retail investors should spend time investigating a forex dealer to find out whether it is regulated in the U.S. or the U.K. (dealers in the U.S. and U.K. have more oversight) or in a country with lax rules and oversight. It is also a good idea to find out what kind of account protections are available in case of a market crisis, or if a dealer becomes insolvent.
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