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Thread: forex mentoring progr

  1. #11
    Thank you for your answer FT.

    You mentioned moving away from discretionary trading, are you now trading fully mechanical systems?

    I had been considering performing Robs mentoring. Can he assist with developing a method for you or is it a situation of learning his system?

  2. #12
    Quote Originally Posted by ;
    Thank you for your reply FT.

    You said moving away from discretionary trading, are you currently trading fully mechanical systems?

    I was considering doing Robs mentoring. Does he assist with creating a system for you or is it a situation of studying his system?
    I now trade completely mechanical systems. The one exception is probably EZ trade which is sold as a optional system but it really is mechanical with a little bit of discretion however the rules that govern the discretion are clear.

    As far as I know Rob edues two or three egies but largely enables you to grow or loe your own. However I did not take Rob's program so I'm not entirely sure what he does for people who register for it. Rob is the best man to ask that of -- especially considering that my last visit to his website shows lots of new things since I worked with him.

    FT

  3. #13
    Fiji just how long ago was it that you just worked together with Rob?

  4. #14
    Quote Originally Posted by ;
    fiji how long ago was it that you worked with Rob?
    It was about a year ago or perhaps a little more. Since then we have kept in touch on a very sporadic basis. Why do you ask?

    FT

  5. #15
    FT

    Slightly off subject, but like yourself I was using a optional system but'm looking at investing in a mechanical one.

    Did you create and test your own mechanical system or are you currently using someone elses? I have heard good comments about Joe Krutsingers system. I notice that GFT Forex offers facilitated trading using some of Joes system (http://www.gftforex.com/products/sys...lon-eurusd.asp)
    His Echelon EUR/USD system returned 40% this past year although the performance thus far in 2005 hasn't been so alluring.

  6. #16
    Just to add to my prior article. Rob's program emphasizes that trading is more a plogical procedure than anything else. No egy will work without good self-discipline and emotional control, and that's exactly what I've been struggling with!!

  7. #17
    Quote Originally Posted by ;
    Just to add to my prior post. Rob's program highlights that trading is much more a mental procedure than anything else. No egy will work without good self-discipline and plogical control, and that's exactly what I've been fighting with!!
    Well Stated. Discipline is definitely 1 area that I'm working on.

    Quote Originally Posted by ;
    Another aspect I like is that he spends considerable time preparing for trades through live chart analysis together with his pupils every day.
    I know that Rob edues people from all around the world, but as he is found in the US does the chart analysis or 1-on-1 teaching happen throughout the daytime US (EST) occasions? I guess I wish to get an idea of just how long is required if I was do to his mentoring, and also what his hours of gambling are.

    I also noticed on his website he mentions team trading. So along with the 1-on-1 do you also team up with other pupils to exchange?

    Quote Originally Posted by ;
    I never understood how truly strong and effectual support and resistance could be till I began after this daily analysis
    It's interesting you should mention that as I have been looking into using a combo of trendlines and channels to spot areas of support and resistance. The secret is knowing where to draw these lines.

    Quote Originally Posted by ;
    The end result of his appliion is a written trading program, that you've traded profitably along side with Rob
    That is very good to hear. How far through his course will be you currently? Let us know how you get on.

  8. #18
    Hi ustrader

    Rob does his chart analysis at different times. He sends his students a schedule weekly and alternates times. Occasionally he'll examine the charts as soon as 0700 EST, occasionally 1000EST. He does some in the day, about 700PM EST or afterwards.

    His goal is to help you establish a system which works for you, taking into account your schedule. Many of his students have full time jobs, which he admits. Rob has indied to me which I do my own chart analysis through the evening to search for trades in the morning (sometimes very early afternoon, when EUR markets available and are active). The quantity of time spent studying charts depends largely on you, considering your level of experience. Rob says that some feel no more than one hour a day is sufficient. But you need to do it daily!

    This is powerful stuff and it actually helps you understand the plogy of price movements! Knowing where to draw the lines is chy at first. I know I've mentioned that concern for him a few times, especially once you see him drawing several several time frames. Rob's always reassuring and any time you overlook something you merely need to email him and he'll explain. It just clicks!

    Team trading is great and he'll set you up with different traders. Team trading's entire assumption is that it helps keep you disciplined. You need to justify all your decisions to your team, and that helps you stay more logical and less emotional.

    I am in my second month now and I will let you all know how it goes!

  9. #19
    Quote Originally Posted by ;
    Market Traders Institute is only a course on tech analysis. You can find everything in their course for free by simply searching the internet and reading forums like moneytec where tech and systems analysis are discussed in length. They are NOT trading pros in the truer sense of the planet. I am sorry I don't actually know about the other person you said (Dave Arena ...) but I'd give this warning. Most mentoring progr aren't really training progr but are discretionary systems with a little bit of technical analysis which you can learn for free from the internet. The majority of these so called mentors are just teaching tech analysis instead of actually teaching people to exchange or to produce systems which work for them. Significant difference.

    Try Rob Booker in http://www.robbooker.com and subscribe to his free ebooks that are excellent. Then speak to him about the telephone about what he can provide. You could be surprised. There is at least one thread about him on Moneytec. Rob is a fantastic friend who I will recommend as a solid trading mentor.

    FT
    **********************

    I began the 1:1 course with Rob Booker one month past. It's increasingly of what you read on these threads. . Rob is a very competent, adaptable and resourceful, humorous and successful trader..The man post the charts he's looking at almost daily and he selects his trade set ups. Then the following day or couple of days.... It's possible to examine the charts and they show a profit most of the time..no tricks. For anyone willing to perform the work and immerse..this is your way to go

  10. #20
    Great to hear from my buddy in Fiji! It'd be great to trade some emails (if that is that I think it is ... D).

    Anyhow, I'd be happy to correspond with the folks here if you have questions about mentoring with others or me. I don't have anything bad to say about anyone else, but I'll say that it's essential to be able to get answers back by email from your mentor. This used to be a problem for me, because I would get a zillion emails every day. However, I've been able to work out that now, and I am usually able to respond back in precisely the same moment.

    In addition, it is important that your mentor lets you roam around the world of indiors (with some guie of course) and then settle to a system or approach that feels right to you. OR, the mentor ought to be able to discuss some basic principles and egies for the methods/approaches/systems that he uses. Some of my very best students, that are now trading for a living, built their own systems and then used my help mostly for subject. Others have adapted a way that I have used.

    Now, as far as discipline is concerned, you want to get access to somebody else, whether mentor, friend, pet, supernatural, or vegetable, who's going to hold you accountable for your trades. This doesn't mean that they keep you from experiencing losses -- it means they hold you to the plans you make. If you train with me and send me a chart in the early hours, and you state that you're planning to have a short GBPUSD trade, I am going to email you later and ask you concerning that trade. You have to be accountable to choose the trades you plan.

    Last of all, your mentor should announce the trades he is likely to take, in advance of accepting those trades. Then the dude should break down why he is carrying such trades. Then he should break down what happened later -- whether losses or wins. Here's a very brief illuion of what I send out on a regular basis.

    Please contact me directly if you have questions, comments, jokes, or favorite recipes. You can reach me in 304 281 8998 (but it's difficult to reach me on the telephone) or by email (rob AT DOT com). Or carrier pigeon to my house, but that sounds too slow.

    Http://www..com/woodchuck/archives/2005/12212005.pdf

    Happy trading to you.

    Rob

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