Its herd mentality, and its whats makes them so easy to slaughter.
Off topic wise, I like your thinking and I believe youāre good at forex already, if you have things to share, please PM me.
Thx for the link Simba. I followed it and looked up his name. I found a William R Booker there with an NFA ID 0055378 with a status that says no current status. Everything else is blank except for the history part that i am putting down below. This canāt be the same guy though Iām thinking because it says that he was associatd with Merril Lynch back in 82. But from what he has written in some of his ebooks, he wasnāt even in high school back then.
This has got to be the wrong guy.
Status Effective Date
MERRILL LYNCH PIERCE FENNER & SMITH
ā¢ ASSOCIATED PERSON WITHDRAWN 09/06/1996
ā¢ BRANCH MANAGER WITHDRAWN 09/06/1996
ā¢ NFA ASSOCIATE MEMBER WITHDRAWN 09/06/1996
ā¢ BRANCH MANAGER APPROVED 05/30/1995
ā¢ BRANCH MANAGER PENDING 05/17/1995
ā¢ NFA ASSOCIATE MEMBER APPROVED 08/01/1985
ā¢ ASSOCIATED PERSON REGISTERED 08/23/1982
Simon, you are correct. I definitely was not dismissing structured training courses all together. I do see your points well and good and not to mention, some people do need a āclassroomā type training to get it.
The best advice that I have gotten from here and other forums is to practice on a demo account. As long as you are on a demo, you have nothing to lose. I originally jumped into a live account for $500 after only about a month of demo practice. Within 3 weeks, I dumped the account down to 240 and at that point I decided to withdraw my funds and got back to the demoās until I have a system that works for me that I can stick to.
Now, I just read and learn. Learning how to use the fib is helping me to discover things I couldnāt see before ie support and resistance, backtesting and candlestick analysis. 2% stoploss rule and understanding the implications of how news can affect a currency pair. Several other things are getting me to where I need to be as well. These are all things that make up a system among others. However, my goal is to take all of these tools and methods and put together my own system that is tailored to me.
So my goal is to stick with a demo account until I can confidently incorporate what I have learned into what I think is a profitable system. Then, kick off my next live account.
simba, i forgot to ask you if you have some good recommendations to share in the way of good education or learning how to trade. thanks again
I think this is what you are looking for:
[I][B]Adventures of a Currency Trader[/B][/I] is an entertaining book.
Rob Booker is, among other things, an entertaining author and public speaker.
But, donāt expect that book to teach you how to trade.
The book is widely available on the internet. And Booker, himself, brags that itās been downloaded about a gazillion times.
So, I donāt think he will object if I give you this link to a clean (and free) download:
Adventures of a Currency Trader.pdf - 4shared.com - document sharing - download
I guess people who are wanting to learn FOREX need to learn FOREX
Yesā¦it is nice to have entertainment but where are the correct methods
and where is the learningā¦
Rob teaches different stuff to different groups and keeps training to make money
He makes more than 600K per year from educationā¦however all his methods suck !!!
Go check with the people who have completed his trainingā¦
Every method of his works sometimes
For example he teaches one method called Monday Accelerator which worked fine in 2007 but does not work nowā¦People lose money with this methodā¦nowā¦
so is it right for Rob to teach some method that works in certain market conditions but keeps making regularly a loss ?
Just having a disclaimer saying āForex is Dangerousā¦blah blah blahā does this absolve him from training and pushing junk (of course with jokes and entertaintment)
90 people of his recent group ā¦all of them are refusing to use his trainingā¦ All have lost a lot of moneyā¦
Kapish ?
So a bunch of people unable or unwilling to put in the work required to learn a skill pay a couple of grand each to an internet marketerā¦ and they lose money.
well what a surprise !
SimbaFXā¦
I want you to understand one simple thingā¦
90 people are not wrongā¦!!!
Robās training is wrong !!!
You and only you are responsible for your own losses. Robās training has absolutely nothing to do with it. I know I am am right, and I know you are wrong.
Yesā¦The person who is responsible for launching the trade and exiting the trade with a profit or a loss is me and only me.
That part you have correctā¦Mr. Simbafxā¦Master Contributor and Member
The part that you are wrong in is āRobās methods do not work and he knows itā He is a master snake oil salesman.
How do you knowā¦did you attend his trainingā¦?
90 people attended his training and all of them have given up on his methods and trainingā¦
Simbafxā¦You are commenting on something that you have no knowledge aboutā¦You did not attend Rob Bookerās trainingā¦correct ?
Rob Booker and William R Booker are indeed the same person.
He claims to have more than 15 years Forex experience.
I am sure he has experience
However does it mean that he does not exist if the details you pulled up were not meaningfull ?
But now he has started selling crapā¦He claims his systems make money and teaches crap and he know it is crap.
All his students have lost money recently.
But he made 600 K just teaching crap.
Of course the majority of his students lost money !
If they knew enough not to lose money, they wouldnt be students would they !
Do you honestly think that if I gave you the system I use to trade youād suddenly be profitable ? because I can guarentee that you wouldnt. Robs giving you a framework, its up to you how you use it.
Simbafx
Let me explain a few things.
I am a scalper who scalps the new york session from his laptop for one hour.
I have been very successfull recently and have made good money.
I asked you a simple question.
Have you done Robās course ?
You have responded implying that you have not done Robās course.
Hence you do not know what Rob Booker (William R Booker) is teaching.
Rob is a snake oil salesman who teaches a method which does not work.
It is surprising that people like you do not understand a simple thingā¦
90 people are not wrong
The reason SimbaFX that you do not understand is because you are generalizing things.
When you get down to the specifics you will understand why Robās methods do not work.
I am surprised you are standing up for Rob Booker who has sold snake oil to so many people.
and that too you do not realise that you are discussing some method which you have not
studied.
Kapish ?
Iāve mentored a few people who have purchased Robās material, so I do have some familiarity with his work.
Robās methods neither work, nor dont work. From what Iāve seen, there are methods that would certainly work (5/13/62 for starters, and thereās a simple fundemental reason why that method works, although Iād wager a considerable sum the majority who try to trade it will fail)
Iām in no way supporting Rob Booker. You have to realise that in general, the type of person who goes looking for answers from a trading educator probably isnt cut out for this business. Theyād fail regardless of the quality of mentoring. Thats not Robās fault !
You say 90 people are not wrongā¦ thats the amusing thing, they will almost certainly be wrong !
Rob has taught 4 methods in April and may 2010
Monday accelerator
P2P
Vortex
weekly Fib
You are talking about (5/13/62)
You have old information
Simbafx, Since you do not know what I am talking aboutā¦I suggest that your information about Rob is outdated
Robā¦is a snake oil Salesman
With respect, if you actually knew what you where talking about, you wouldnt be paying Rob Booker for āsystemsā. Its a phase you need to go through, some go through it quickly, and others remain stuck their forever.
Rob Booker, nor anyone else will teach you a profitable āsystemā. Rob Booker and 1001 others will give you a framework and a starting point, after that you re on your own. Robās no worse than most in that respect.
Mr. SimbaFX
A few posts back you claimed you knew the systems which Rob was sellingā¦
You also mentioned that the reason people lost money was "Because they are students"
You also said "What do you expect for $2000"
Now you say to me "You dont know and understand Forex"
You have admitted that you have not been a student of Rob nor have used his āsystemsā
Why dont you stick to the topic and stop making general comments and trying to
insult/bait me
The thing is simple
Rob Booker is selling āSystemsā which do not work.
He has made 600K in the last year selling snake oil leaving more than 150
dis-satisfied people.
Why can you not understand this simple thing ?
I do understand that you know Forex but you do not know Robās 'systemsā
Why are you defending Rob when you have no clue about his systems?
I did purchase his 1 on 1 lesson and a seminar. Was it worth it?..No. Did it make me a more profitable traderā¦No. Would I recommend him to anyonelse?..No
In any event, Iāve been trying to get him to remove me from his mailing list. I recently received this email into my Inbox. I donāt know what is sleazier the subject procliaming he is NEVER teaching this course again or mentioning that there are ONLY a few seats remaining and that he is only now suddenly lowering the price.
================================================
SUBJECT: Iām never teaching this course live againā¦
just lowered the price on the last 5 seats
in the webinar series:
36 people signed up for the waiting list for these
spots. I decided to release them first, come first
served and at the lowest price.
If now is the time for you to take your trading
to the next level, to finally obliterate anything
standing in your way of trading for a living,
and to trade with a team of confident traders for
the next year, then claim your spot and letās get
started. And then letās tell your boss to shove it.
Imagine that.
The course starts Thursday and Iām never
teaching it live again.
Call me or email anytime:
====================================================