Rob Booker Week 2
April 24, 2006 by Trader Rich
I'm counting this as a new week even though I didn't sign on with Rob Booker 1 on 1 training until late last week.
I got up early this morning (4 a.m. EST) to look for setups specifically in the GBP/USD. The real move happened earlier than this between 2:00 a.m. and 3:00 a.m. so I kind of missed it. I really don't know what to do if there is a large move like this before I wake up. It kind of makes me feel like there's no way I can just jump in and feel at flow with the market. There may be a way of trading after this or this may be one of those times when you just sit on the sidelines. There was a time when I jumped right in the market just to be in it but I didn't feel any urge to do so this morning.
I haven't heard much from Rob in the past couple of days. I saw him online this morning but he was off before 11 a.m. He has previously stated that he tries to stay out of the market on Monday and just concentrates on trading the rest of the week.
It's tough for us full-timers to find enough time to trade during the more volatile times the market has to offer. I will continue to try to get up early for the European session but I almost think that 4 a.m. may be a bit too late. If I find out that this is the case, I'll try to do what I have to trade the US session at 7 a.m. I have to be at work by 9 a.m. so I don't know if it is a viable alternative to trading the European session. I can always look for setups between 7 a.m. - 8:30 a.m. and if I enter a trade, set the appropriate stop loss and limits before going to work. I can then manage the trade if my position is still open from my Treo. I can either do this or get a job working 2nd or 3rd shift. This isn't something I would ever do but it may be an option for you.
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I know exaclty what you’re going thru. I have a full time job and try to learn how to trade at the same time. I feel like living on the West Coast makes things even more difficult. Trying to get up around 5 am, looking for set ups before NY opens and then getting ready for work - seems to me like keeping up that routine can be difficult in a long run. After watching charts for a couple of hours I already feel like I’ve done a day worth of work but my “real” job hasnt even started yet.
But I feel that it’s worth it. I find Forex fascinating even though I sometimes think that in order to become a successful trader I shouldnt be feeling anything at all
I wouldn’t worry to much about missing the big moves especially if you are following Rob’s pricinple of getting only 10 pips a day. Moving to a smaller time frame should allow you to find plenty of opportunities to reach your goal.
Anyways, wanted to say thank you for a great website and taking time to share all the info and your learning experiences. I hope you’ll still make time to keep up the site when you reach your goal of trading for a living. Best of luck to you!!!
Thanks Magdalena. But you don’t say how close you are to reaching your goal? It sounds like your furthur along than I am.