Bob’s Forex Classroom Explained in person

Do you remember when you were probably five or six years old and learning to ride your bicycle without
training wheels for the first time?

I can remember being so excited to get those training wheels off and be able to tear around the block
like the big kids. But part of me was probably a little bit scared, after all we have all seen some
pretty major wipe outs.

In the end though for most of us Mom and Dad help us learn to ride the bike. They guide us as we take
off for the first time, and cheer lead us as we take off for the first time. It’’s our first small step towards
freedom really – and it’s made a lot easier because you have help from Mom and Dad.

In a way you could almost say you have some bike riding mentors and cheer leaders.

Well, trading used to be the same way. When I was in Vegas last week for the Traders Expo I
got to talking to Bob Iaccino about how he came up. Bob’s been on the floor at the Chicago Mercantile
Exchange since 1992 and is a frequent quest on CNBC and other financial programs due to his success.

Well Bob told me that back then, before the advent of our Electronic Marketplace most people
becoming traders had easy access to very successful mentors. You usually started off as a clerk on
the floor, bringing in orders to the big brokers and traders, and if you had some hustle about you, usually
one of the successful traders would take an interest in you and start to show you the ropes.

Eventually you’d get into the pits yourself and trade 1 and 2 lots with an old pro showing you the ropes.
It really sounds like it was a great way to learn -and the overall rate of success was much higher then we
see now. It’s easy to see why, who wouldn’t want to learn from someone who had a proven track
record of making money in the markets week after week for a decade or more?

But things change, and now that trading apprentice type on the job training has, for the most part
been lost. Sure there is a ton of information on the web, a lot of people want to take your money
to teach you how to trade, but how in the heck are you supposed to know who’s worth listening
too? For the most part you just can’t tell, it’s maddening!

Well, this Tuesday your going to have a chance to sit at the knee of an old pro because Bob
Iaccino has decided it’s time for him to give back and pass on the knowledge that has been
shared with him.

Check out his complimentary “Over View Webinar  …

==> http://www.bobsforexclassroom.com/bobswebinar.html?a_aid=528d9a5b

Bob’s been on the floor and making money from the market’s since 1992. He’s frequently a
guest on CNBC, Fox News and is quoted by the major financial media all the time. Most important
for you, he’s a great teacher who loves to pass on his knowledge of the markets. In fact, here
is what a few of his students have said about learning from Bob.

Bob I was one of those guys that spent way too much on courses that did nothing buy confuse me,
because of your course I really feel confident that I can look at charts and find profitable trades.  Do
you know how great of a feeling that is?  Thanks so much for caring!!

– Lance Malace

Not only are you informative, but you are just a great guy!  Anytime I have a question I know you will
answer it and not make me feel stupid for asking it.  I have learned a tremendous amount from you
and I really feel like I made a new friend at the same time.  BTW…I always watch your interviews on CNBC,
I enjoy the humor your throw in

– Nancy Ransert

Frankly I can’t wait for Bob’’s webinar, and I’m going to try to get one of the seats for myself. Bob’s
going to be passing on some of the most important money management rules he’s learned after 16
years as a professional. These are the secrets that keep you in the game, and allow you to leverage
your success for massive profits while never having to worry about losing too much money.

Bob’’s also going to teach you how you can make trading fit your lifestyle. You see, some people want
to trade full time, all day every day from 9 to 5, while others either don’t want to do that or they cant.

If your trading E Minis or Stocks, you pretty much have no choice about when your going to trade,
but if your a Forex Trader, the market never sleeps and you can work and trade when you want.
The trick is learning how to isolate your time frames. You see, too many traders have to adjust their
lifestyles around the markets. Bob’s going to teach you how to make the market fit your lifestyle so
you can do the things you want.

==> http://www.bobsforexclassroom.com/bobswebinar.html?a_aid=528d9a5b

I have to warn you that seats are going to go fast. It is not very often that a recognized expert
like Bob so willingly shares nearly twenty years worth of knowledge with traders like us. So, if you
want to have the opportunity to learn from a proven pro , then you won’t want to miss this webinar.

Rob Trader – Forex Expert
http://tradingtoollist.co.cc/

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The Dow, Dollar & Gold – What Goes Down Must Come Up

This year has been a very exiting time for traders and investors. We have seen a steady climb in prices with controlled pullbacks in the broad market and gold.

Using technical analysis we are able to quickly and accurately make informed decisions just from looking at the charts. In the charts below you will see how simple chart patterns along with support & resistance levels can provide excellent low risk entry points. Also you will see how candle stick charts can be an early indicator for prices to reverse direction.

DIA ETF – Daily
The DIA (Dow Jones Index Fund) is trending higher. By applying some basic technical analysis you are able to time your entry points having the odds in your favor.

In this chart I use two simple forms of analysis. The broadening formation (red trend lines), and horizontal support zones shown in blue.

Broadening Formations: This is when the price becomes more volatile making higher highs and lower lows. I think of it as one of those Megaphones for talking to large groups of people. So when a chart has this pattern it’s virtually yelling at me and I start taking profits or tightening my stops.

Horizontal Support Zones: I like to focus on support or resistance zones which are a little different than most traders. I do not use the top and bottoms of previous waves for these levels. Instead I take the average price then expect the support level to be penetrated somewhat as the level is tested. This is how the market keeps you out of the good trades. I cover this in great detail in my Stock Market Trading Education Course available in January.

Analysis: The DIA ETF looks ready for a pullback to the $99- 100 level.

GLD Exchange Traded Fund – Weekly
Gold has been on fire and riding this wave up has been very profitable thus far. Last week a doji candle was formed on the chart and this can signal a change in short term price action.

This chart shows some of the past doji candles and what happened to the price of gold soon after. What this candle is telling us is that the buying and selling pressure is equal. So we know momentum is slowing and we should expect a consolidation or correction.

Because gold has rocketed higher, indeed going almost straight up in the recent weeks, I expect a pullback to be very quick. A drop to the $110 or even the $100 level in the coming weeks is not out of the question, but we all know commodities can go parabolic for several months (straight up). This is why we continue to tighten our stops and keep holding out long positions.

US Dollar – Weekly
The US dollar has been up and down like a yo-yo in the past 15 months. The chart below clearly shows what has been happening with this currency and what I think we could see very soon.

The blue support zone (73-74) is a key pivot point for the dollar. That being said lets take a look at the chart.

During the time when the price is trending higher July 2008 – Feb 2009 we see lower wicks appear more often. This tells me that sellers pushed the price down early in the week but were then overcome by buyers nearer the end of the week. This is bullish price action. Also the broadening patterns during this timeframe’s tops indicate increased volatility and we know that is a sign of weakness.

From March 2009 – Sept 2009 the trend was down and there are longer upper wicks telling us buyers became over powered by sellers each time the price rallied.

In the recent 3 months we observe lower wicks meaning buyers are moving into the US dollar again. Knowing that there is major support below the current price I have to think the dollar could start to bottom around this level.

Trading Conclusion:
The broad market is becoming unstable and looks like it could have more of a pullback this week. I would not be adding to any long positions until we see the market trading near support. Three out of four stocks move with the market so it is crucial to understand the overall market direction when buying and selling stocks and commodities.

Gold is trading at a level which is fuzzy. The weekly chart is neutral and the daily chart is still on fire as it moves up. All we can do is ride our positions and keep raising our stop prices.

The US dollar could start to bottom over the next few weeks. Depending what happens with Dubai this week we could be in for a big bounce in the dollar as investors flock to safety as the US dollar is still the currency of choice if/when other countries start to have a financial melt down again.

If you would like to receive my free weekly ETF Trading Newsletter.

Chris Vermeulen

Disclaimer: I do not own DIA fund

Chris Vermeulen is Founder of the popular trading site http://www.thegoldandoilguy.com. There he shares his highly successful, low-risk trading method. Since 2001 Chris has been a leader in teaching others to skillfully trade in gold, oil, and silver in both bull and bear markets. Subscribers to his service depend on Chris’ uniquely consistent investment opportunities that carry exceptionally low risk and high return.

Reach Chris at: Chris[at]theGoildAndOilGuy[dot]com

Article Source:http://www.articlesbase.com/day-trading-articles/the-dow-dollar-gold-what-goes-down-must-come-up-1520042.html

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