End of Year Thoughts, Part II

I have something I want to get off my chest, and although most of you will feel that this more of the same from me, I really want you to read this. It’s important.

In the past 4 months, I have worked with about 30 traders in the web-based training and another 50 traders in the live training. These traders are from every continent on the globe. They are from all different economic and educational backgrounds. Some had trading experience. Some did not. Some I thought would be failures. There was one in particular, at a live training event, that I specifically considered to be totally unfit for trading, and this person has been the 2nd most successful trader of this year – and is now making a living from trading.

Continue reading "End of Year Thoughts, Part II" »

Posted by Rob at 03:55 PM | | Comments (0) | TrackBacks (0) ..............................................................................................................................................


End of Year Thoughts, Part I

Here are some thoughts I had today. Many more of these thoughts will be coming in the next 2 weeks.

1. Traders don't know what the crap to do. There is a lot of confusion in London and on Wall Street about "where next" with the USD. Rising interest rates? Maybe. Rising Trade Deficit? Surely. This could be a choppy market for the next 1-2 months.

2. Oil is going to fall to at least $50 per barrel. That's my opinion. I think this will reduce inflationary pressures in the US, and it will have some ancillary effects:

Continue reading "End of Year Thoughts, Part I" »

Posted by Rob at 06:04 PM | | Comments (0) | TrackBacks (0) ..............................................................................................................................................


The Edge of Success

I just exchanged emails with a favorite student of mine (ok, everyone is a favorite, but I really like Brian and think he has enormous potential). He figured something out and I want to share it with you. Here is what he wrote:

"Just checking in to let you know what I've been up to. I was on a fairly good roll for about a month - up about 200 PIPS. Then I fell back into my old patterns and lost most of it. I think my biggest problem is waiting for the trades to come to me. I work during the day so I have the mindset that I need to trade when I have a few minutes to look at the charts."

Wow! Did you catch the super important thing that Brian said? Here it is again:

I think my biggest problem is waiting for the trades to come to me.

Wow again! Here is my response:

Continue reading "The Edge of Success" »

Posted by Rob at 03:41 PM | | Comments (1) | TrackBacks (0) ..............................................................................................................................................


Are You a Currency Nerd?

Are you so wrapped up in trading that you can't talk about anything else? I get that way sometimes. That is why I call my self a currency nerd. There are times that I concentrate too much on trading and then get lost in the details. That is why it is good to step away from trading on a regular basis. Click on the cartoon below to pop up a bigger size.

One time a day it's good to walk away for a few hours, no matter what.

Continue reading "Are You a Currency Nerd?" »

Posted by Rob at 08:09 PM | | Comments (0) | TrackBacks (0) ..............................................................................................................................................


Seat Belts and Trading

Traders who regularly risk large amounts of their trading stake (and lose it) probably wear their seat belts every time they get in the car.

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It does not make any sense to me. Why are traders willing to risk their trading stake as if it did not matter? I am constantly stunned at how willing traders are to risk their entire trading stake.

Continue reading "Seat Belts and Trading" »

Posted by Rob at 08:31 AM | | Comments (0) | TrackBacks (0) ..............................................................................................................................................


Your Career as a Trader, as Described by Actual Marvin Gaye Songs.

Try it Baby
Heard it Through the Grapevine
Little Darling (I Need You)
You've Been A Long Time Coming
I'll Be Doggone
I Heard It Through The Grapevine
There Goes My Baby
No Time For Tears
Gonna Keep On Tryin' Till I Win Your Love
I Heard It Through The Grapevine
Wholy Holy
Mercy, Mercy Me (The Ecology)
What's Going On
What's Happening Brother
Me and My Lonely Room
Inner City Blues
It’s Madness
Got To Give It Up

Continue reading "Your Career as a Trader, as Described by Actual Marvin Gaye Songs." »

Posted by Rob at 10:15 AM | | Comments (0) | TrackBacks (0) ..............................................................................................................................................


Rob is a Currency Nerd. Here's Proof.

I am now in the process of revising and updating The Currency Trader's Handbook. It's a collection of all of my ebooks on Currency Trading, with new material that I've never released before.

Click here for a free preview of the book.

The book will be available for $9.95 (plus shipping) on Lulu.com starting on January 1. After January 31, the price will go up to $19.95. To receive an update on when the book is released, send me an email by clicking here, with "Rob is a Currency Nerd" in the subject line.

Continue reading "Rob is a Currency Nerd. Here's Proof." »

Posted by Rob at 08:02 AM | | Comments (0) | TrackBacks (0) ..............................................................................................................................................


Bad Day, Change Your System. Then Lose Anyway.

Last night, the EUR/USD just larfed around and couldn't decide which way to go. Every breakout was a fakeout. Every big move was a big tease. Often, when this happens, we experience losses. When we experience losses in situations like this, we tend to want to change our system. Here is a view of what happened last night. I call the EUR/USD the Newfie/USD because my Canadian friends tell me that people from Newfoundland might be a bit backwards. So was the EUR last night:

So what happens when we change our system in response to a Newfie Move?

Continue reading "Bad Day, Change Your System. Then Lose Anyway." »

Posted by Rob at 10:18 AM | | Comments (0) | TrackBacks (0) ..............................................................................................................................................


$60,000,000 in Gambling Losses?

Right now I'm at the Wynn Las Vegas hotel. Last night, in the elevator, a guy told us that there is a person in the casino who has lost $60 million gambling here. 60 million dollars. Think about that for a second. Now, this may be a rumor but even if there is a shred of truth to it ($1 million? $500,000?) then it's an amazing lesson for us.

Would you allow yourself to lose $60 million while playing blackjack or poker? Most of would say of course not. But think for a moment -- that's because $60 million represents something important to you, while it doesn't mean much to the guy that lost it in the casino. He might be worth over a billion dollars. It's all relative! Traders only allow themselves to irresonsibly lose what they do because they don't appreciate the present and future value of their trading stake.

Continue reading "$60,000,000 in Gambling Losses?" »

Posted by Rob at 08:22 AM | | Comments (0) | TrackBacks (0) ..............................................................................................................................................


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