Trade Across America Tour | Interview w/ Rob Booker
April 2, 2013 at 7:46 PM (QQQ)(DIA)(GLD)(SPY)(FB)
Rob Booker | Trade Across America Tour - Day 2
Today was Rob's first media stop on his epic "Trade Across America Tour". We will be chronicling his journey, day by day.. from the CFRN Studios.
Who is Rob Booker?
Trader, father, educator. Rob has authored several books including The Currency Trader's Handbook, Adventures of a Currency Trader and The Wallaby Trade. He is host of The Traders Podcast, and presently, he's homeless ... well, technically. Rob Booker is engaged in a feat he calls Man versus Market. Rob gave away almost everything he owns to see if a man can drive across the USA for a month and survive financially, solely from the profits he earns from his own $10k trading account.
Day 1
What's he trying to prove?
Honestly.. he's trying to prove he can do it. Day in and day out Rob talks the talk, but he wants to make sure he can still walk the walk. When you're dispensing advice from an ivory tower, pacing back and forth in front of 46" flat panels, interns scurrying to and fro with clipboards and cappuccinos, you start to lose touch with reality. When you tell a man he can "trade for a living", it's easy to forget (if you allow yourself), your dealing with a man's life. If you say it, you better be right.
Pitching pipe dreams is dangerous business. Rob is well aware and he's determined to get back to the basics, to make sure he can still do exactly what he teaches - "Trading for a Living". In our conversation today, Rob admitted much has changed since he began trading many years ago. From technology to regulations, the landscape has been drastically altered.
He also understands the stress and pressure of trading with a small account, but has he lost touch with the raw emotions that can drive a man to distraction and worse? Once our trading accounts develop some depth, the market suddenly seems far more forgiving. It's much easier to "let the winners run" and "cut the losers loose" when you aren't under the gun to pay the rent, or buy a prom dress.
So Rob is doing his best to put himself mentally and physically, back in the shoes of a brand new trader. Obviously his years of experience are still there to serve him, but other than that, he really is on his own. Can he do it?
Can he go from Zero to Hero in 30 days?
Or will it be Headlines to Breadlines for Mr. Rob Booker?
Our Promise
Whichever way the cookie crumbles, we're going to report it live on CFRN. We're going to hold Rob's feet to the fire every inch of the way. That's how he wants it and it's the only way we're willing to take the job. We've spent 8 years building a reputation based on honesty, integrity and transparency. Rob's a likable fellow, but he knows we would never compromise our beliefs, not for him.. not even for dear old mom. (sorry mom)
Join the Journey!
Tune in live every trading day from 12 Noon - 2PM EDT. Register Here to make sure you can see the charts, maps, pictures, videos and participate in the discussion. In 30 days, not only will we know if Rob can trade for a living, you'll have a pretty good idea whether you can too.
Emini Tweets And Trades
Our Tweet to be long above 1562 went off like clockwork today...
ESM3 - Consider being long above 1562 or short below 1554 (again) whichever presents first. $ES_F #es #cfrn_trade
— DeWayne Reeves (@CFRN) April 2, 2013
ES Emini Tweet - 1562
Once the Trade hit the Weekly Trading Zone 1566/67, we suggested covering the position.
ESM3 - Last Tweet good for 5 points. Price now at WTZ. Consider locking in some or all profits. $ES_F #es #emini #cfrn_trade
— DeWayne Reeves (@CFRN) April 2, 2013
Price spent 4 hours consolidating at the WTZ which is for us very typical behaviour. Once the retracement was under way, we suggested a "Second Bite of the Apple". Why? Because important prices and areas are almost always tested.
ESM3 - Consider the "second bite of the Apple" based on last Tweet. $ES_F #es #cfrn_trade #emini
— DeWayne Reeves (@CFRN) April 2, 2013
ES Emini Second Bite of the Apple Trade
We caught an intial bounce of 1.75 points off the 1562 level. Our next suggestion was to watch for support at the Weekly Trading Zone 1559/1560.
ESM3 - Here's a chart of the last Tweet (5 points) and the 2nd bite of the Apple (1.75 so far) $ES_F #es #cfrn_trade twitter.com/CFRN/status/31…
— DeWayne Reeves (@CFRN) April 2, 2013
We believe important prices and areas are almost always tested. However, they don't always pass the test. Possible support @ WTZ. $ES_F #es
— DeWayne Reeves (@CFRN) April 2, 2013
ESM3 - WTZ held, bounce good for 3.25 points so far.Here's the chart > $ES_F #es #emini #cfrn_trade twitter.com/CFRN/status/31…
— DeWayne Reeves (@CFRN) April 2, 2013
ESM3 - Bounce now good for 4.5 consider moving stops and taking some or all profits between here and WTZ overhead. $ES_F #emini #cfrn_trade
— DeWayne Reeves (@CFRN) April 2, 2013
In the finaly analysis it was a Daytrader's Dream!
ESM3 - Price went Zone to Zone to Zone for 18 points total with 2 Tweets in between. Chart> $ES_F #emini #cfrn_trade twitter.com/CFRN/status/31…
— DeWayne Reeves (@CFRN) April 2, 2013
ES Emini - Zone to Zone Zone w/ 2 Tweets In Between
Live Radio Trades | Soybeans And Crude Today
At the end of today's broadcast, the audience picked out 2 markets for me to trade. First we traded Soybeans and we were stopped out for 8 ticks. We never risk more than 8 ticks on a CFRN Slingshot Trade. After being stopped out, I was inclined to thrash about and wail, but one of the guys said there was a setup in Crude. I pulled myself together, pulled up the chart, and put on the trade. End result? 16 ticks. So... 2 trades (-8) + (+16) = +8 (that's a paycheck) . I did have some audio issues which are explained in the video below. Jump all the way to the 46 minute mark to start.
No More Fear Based Trading
This video was a perfect example of what you should do when you get stopped out. This unfolded live in front of the audience, but I coul not have choreographed it any better. There is a huge lesson in this humble video. Be sure to fast forward to the 46 minute mark for the audio.
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Reader Comments (2)
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Itune review.
Hello Brother DeWayne,
I have been trying to participate to win that IPAD.
Is this the place to submit my review.?
Yes, it is a great site for all traders and investors with very professional tutors
helping investors to trade/invest to win all the times.( With hard stop-lost).
Regards,
Ron Tan