The Rob Booker seminar at the Waikiki Beach Hotel and Spa was awesome! Rob and Dave went through their current strategies on the market and the tools they use every day to filter the huge amount of information about the markets. More importantly however,
I gained some insight into their overall philosophy of the market and how their indicators fit into the bigger picture.
To me, that is the most important part about trading. Being able to figure out what your overall premise of the market is and then choosing tools that will help you find trades to exploit advantages within those guidelines.
One of the best parts about this seminar was the very informal, conversational structure. Rob and Dave weren’t up there at a podium with suits showing a lot of graphs. OK, well they did have a lot of graphs, but they were in shorts and slippers and were sitting in chairs as if they were part of the audience too.
I have done a lot of reading on trading strategies and technical analysis, but it is going to take a few days for their strategies to sink in. Not because they are so complicated, they are actually very simple, but it’s more a function of figuring out how an indicator or a signal fits into the overall analysis of what phase the market is in.
As everyone knows, determining if the market is trending or moving sideways is a fairly subjective task when the market is in the middle or transitioning. Their Arizona Rules framework made the market movement more objective to me and really gave market movements structure.
Another basic premise that Rob and Dave trade by is regression to the mean. They have done extensive studies of the currency markets and deviations from the mean with respect to time and it really is the missing puzzle piece in other trading systems.
I actually missed the section on The Surprise Trade (their #1 trade right now) because I had to run back to the car. I’m going to have to ask Rob to send me information on that.
Well as you can see I learned a lot but I have a lot more to learn. What really surprised me was that they are going to provide follow up webinars to reinforce what we learned at this workshop. In order for me to really understand their strategies, it will take sitting in front of a live screen to get things ingrained in my head.
I will still use a lot of things that I learned before from Chris Lori and Peter Bain, but Rob Booker’s stuff is just another useful way of looking at the market and creating low risk, consistent, profitable trades. The workshop was fun and very informative. The 5 hours flew by and if Rob and Dave are putting on a workshop at a city near you, I would highly suggest that you go!
You can visit Rob and Dave at: www.piptopia.com
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