Estimated reading time: 6 minutes
For some time now, our readers have been asking us to review Rob Booker. But who is Rob Booker? Another trading guru who teaches magical trading secrets? Well, you guessed it right. This man sells everything that involves trading.
All these magical trading secrets can be accessed at Robbooker.com. However, Booker is charging a fee for every little secret that he will give you. There are also up-sells along the way, which can really skyrocket the cost of your education in the hands of Booker.
This guy is well-known in the trading circles because he hosts a series of podcasts out of Gilbert, Arizona, United States.
He has hosted nearly 90 podcasts since he started this business.
Booker also claims that he has 17 years of experience in the world of trading Forex. He claims that his trading years can be summed up into 4 different phases. These include support & resistance years, divergence trading, carry trade and now a full time trader who depends on robots to trade the Forex market.
He currently has over 800 followers who are religiously devoted to his guidance. Definitely this is a subject of interest here as well.
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Therefore, for the next part of this review, we shall see if Rob Booker and his trading products are the real deal.
Booker claims that his office is situated on this address– Gilbert, Arizona, USA. However, we can’t find an office that is associated with his name in that location.
Rob Booker’s homepage acts as the main sales page. Here, he claims that he went from zero to $7.8 million and that he can help you make that much as well.
On top of this, Rob also claims that he has successfully maintained 2,500 community of traders on his site. But it is not clear whether these traders too make money like he does.
Booker seems to be putting more emphasis on his trade mentoring program. The aim is always to push traders into signing up for his training which consists of 24/7 access to a live chat room, newsletters, trade alerts, webinars, videos, robots and indicators.
The offer looks really attractive because Rob Booker is also targeting those who want to learn how to become rich. What is more, it is not clear why this gentleman is always willing to teach others how to make wealth through Forex trading.
Also, we see that this guy entered the trading scenes long ago. It is actually recorded that he entered this industry some time in 2006.
Today, he is offering a trade-copier service, robots and a lifetime membership which comes with a bunch of perks.
We are yet to establish whether those who have subscribed to his products really got value for their money. This website looks like a sales-oriented website as opposed to a Forex trading school.
Rob Booker doesn’t present himself like someone who trades for a living. Instead, he has all the characteristics of a sales man, hence the reason why he puts more emphasis on collecting email contacts as opposed to showing proof of his trading performance.
First of all, this is an affiliate service where traders who sign up are forced to open an account with Gallant FX. This suggests that Rob Booker has a deal with the brokerage firm where he gets clients for the company and in turn, they pay him commissions.
In fact, that is the main reason as to why he is offering this copy trade service. It’s purely out of a selfish motive as opposed to genuinely wanting to help struggling traders make money.
The problem with this setups is that Rob Booker might be encouraged to over-trade because of the incentives which he receives each time you copy his trades. There is that temptation to open more trades, and thus the margin of error increases significantly. In all this, Rob Booker has nothing to lose. He still gets his paycheck at the end of the day.
However, according to Booker, the goal is to generate 6.5% return on investment while keeping draw down below 6.2%.
We mentioned that this man sells trading robots as well. These come in packages that are sold for $297. When you purchase a plan, you are entitled to receive 6 robots in addition to one new robot at the end of every month. You are also supposed to get lifetime updates for each one of these robots.
What surprises us is that Rob Booker also provides access to the source code of his robots. This is unusual because most developers do not provide this level of access.
To make it look as if you’re getting value for money, Rob Booker hosts a series of daily webinars to teach his followers how these robots can best be utilized. We must admit that indeed he is going an extra mile to ensure that his traders don’t complain that these products are not worth the price which they are paying.
Currently, he has two main robots which are well-known everywhere on the internet. These include The Finch and the Kingfisher.
The Finch is basically a robot that was created to look for divergence on the 5 minute time frame. It can trade up to 5 different currency pairs.
Now, the Kingfisher is quite similar to the first robot. However, this algorithm is mainly concerned with analyzing overbought and oversold levels in the market. This is a function of the RSI.
The problem is that these robots are not discussed in great length. This is a sign that the vendor is not really interested in helping you make money. It could also point to the possibility that these robots don’t work.
We also wonder why the sales page is pushing visitors to listen to a radio episode by Scott Heywood.
This guy provides his myfxbook account where he claims to have tracked his trading history.
The problem is that we are getting mixed results from this account. It’s hard to tell whether what we are viewing is as a result of a human trader or a robot.
Rob Booker needs to create separate myfxbook accounts for his robots. Until this happens, it’s going to be very difficult to formulate an honest opinion concerning how these robots work as well as what should be expected of them.
If you’re feeling his vibe, then Booker has a lifetime membership which will cost you a whooping $1000 to gain access to. As you can see, this package is not cheap and could even be well out of reach for most struggling traders.
If you want affordable trading systems, just use this list of Forex trading products.
That being said, it’s worth mentioning that for the price of 1k, Rob Booker will sell you a package that comes with trade alerts, trading courses, a live chat room, free entry to all events hosted by him, indicators and robots, videos, and discounted personal training with Rob’s ”inner circles”
Honestly this stuff sounds crazy. It sounds like the ranting of a salesman hawking Forex magic. It’s not clear whether anyone has ever traded successful with the so-called Rob Booker’s trading courses. We are afraid that making the supposed $7.8 is a far-fetched dream.
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