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Currency Trading Strategies
Specs: 17 mins, 18 secs | 8 MB
  Trader Rob Booker talks about how he determines how much he risks on each forex trade, why he takes long-term foreign currency positions in addition to his day trading, and how long it took him to be confident in his trading strategies and abilities. Although Rob trades primarily Forex, traders of all types will benefit from his candid talk.

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Currency Trading Strategies


TraderInterviews.com: Hello, everybody. Welcome back to TraderInterviews on MoneyShow.com. Thanks very much for joining us. It's been a little bit sporadic over the summer months here with interviews but we do at least two a month. They're going out in the Forex Trading Expo newsletter which, by the way, is coming up in less than four weeks now. So you might want to check it out at ForexTradingExpo.com. Our guest today is one of the speakers at the show and he's spoken in a lot of shows for a couple of years now, Rob Booker. Thanks very much for joining us, Rob.

Rob Booker: Thanks, Tim. It's great to be here.

TraderInterviews.com: Well normally, summer's...I should say normally in the past few years, summers have been more volatile in the markets. It used to be that you could take the whole summer off. How's this summer been for you in terms of trading?

Rob Booker: It's been a wild ride, hasn't it? Certainly, when the cat is away, the mice will play.

TraderInterviews.com: What's been the hot thing that you've been trading right now that you think that the other traders have been watching as well?

Rob Booker: Well, you know, it's easy to say now but I've certainly been vindicated to my opinion that the Eurozone is no less prone to economic problems than the US. And I've been short the Eurodollar for approximately about six and a half months now. And just at the beginning of the August, I finally got some relief on that position. I rode that thing at the wrong direction for quite a while and stuck with my guns. I just felt like the Eurodollar really had to reflect the realities of the current global economic environment. And chiefly, that's the fact that banks in Europe are prone to and subject to the same laws of economics that the banks and financial companies in the United States are.

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