Las Vegas Seminar - Come for Free

I am holding a small live trading seminar in Las Vegas, from June 26-30. This is 5 days of trading together with about 10 other traders. Right now you can actually come for free by making a donation to charity. This offer is only available to one person.

The live seminars have been a big success in helping traders to get their charts set up right, to learn systems that are regularly profitable, and to meet people with whom they can stay in touch and trade with for a long time after the seminar is over. For more details on the Las Vegas seminar, click here.

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Posted by Rob at 10:05 AM | | Comments (0) | TrackBacks (0) ..............................................................................................................................................


You Are Not Your Trades

Today I received a trader's-heart breaking email from a good friend. He just went live after weeks of making sure he was ready on a demo account. He has a bright future ahead as a trader. But today, he got emotional and lost 3% of his account. If you've ever been in the same position, it can be a devastating feeling. My friend wondered if he was just going to have to "hang it up" and do something else. I know that feeling very well -- and remember asking myself the same question. This is the email that I wrote back.

1. Get over it. You are going to have mistakes like this along the way.

2. So what? One trade does not a good or bad trader make. You are not your trades. You direct them, and every once in a while, no matter what, you are a putz. This does not mean you are a putz all the time. You probably made a mistake at work in year 5 of your job, but that did not put in question your ability to work at all.

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Posted by Rob at 04:52 PM | | Comments (1) | TrackBacks (0) ..............................................................................................................................................


Mondays Stink

Today I received a number of emails from really smart people who are good traders. They wondered why, with the Empire State Index and the TICs data (Treasury International Capital) coming out, that we did not see more movement. The answer is easy.

monday_small.jpg

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Posted by Rob at 05:16 PM | | Comments (1) | TrackBacks (0) ..............................................................................................................................................


Stay Focused!

Stay focused!

I got an email from a student today and it thrills me to read it. I've read it four times now. This is something worth sharing. The email is answering my question about how his trading is coming along.

focus_small.jpg

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Posted by Rob at 06:20 PM | | Comments (2) | TrackBacks (0) ..............................................................................................................................................


Your Schedule, Your Pips

This is an email that I sent to a prospective student yesterday. He just could not set aside one consistent time each day to look at charts or study the market or make trades. He is a brilliant individual. Has enormous potential to be a great trader. But if he is not able to focus on one set system, and set aside at least a bit of time each day to do his planning, he can't expect great things from trading.

Here's what I told him, and I think there are a few of you out there who might benefit from the same advice. I know I needed to hear it when I started.

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Posted by Rob at 09:44 AM | | Comments (0) | TrackBacks (0) ..............................................................................................................................................


Boris Got Blog

Boris Schlossberg of FXCM just launched a "plog" at Amazon.com and it's destined to be a daily destination for me. I think Boris has got serious FX game. Click here to see his plog.

Enjoy.

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Posted by Rob at 09:18 PM | | Comments (1) | TrackBacks (0) ..............................................................................................................................................


The Pants Down Reversal?

The major pairs (except the USD/CAD) zoomed out of control today on the Non Farm Payroll report. We saw a big gain in the EUR and GBP, in the CHF, and especially in the CHF. But can this be sustained? I am not sure -- I think we need to pay attention to the fact that we've had a 1,000 pip runup in the GBP/USD alone in the last three weeks.

It's time for at least a bit of a reversal. It does not have to be a huge one, but we have a perfect opportunity next week to see one:

1. Ben Bernanke and the recently discredited Fed are going to have to prove that they are the real deal when they make their interest rate hike on Wednesday May 10. But that's not all.

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Posted by Rob at 05:37 PM | | Comments (0) | TrackBacks (0) ..............................................................................................................................................


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