Ken Roberts Chat

Here I am with Mary Ann (actress Dawn Wells) of the legendary Gilligan's Island television series and my cousin Jimi. I mentioned to Dawn that it never was clear exactly how Thurston Howell III (Jim Backus) made all his money . . . .

"Why, in commodities, of course!"
she replied.

Last Tuesday's Chat revealed that lots of profit-taking is going on among WGB Members . . .

"blazingbronco" is seeing one of the greatest benefits options provide (6:29)

"budding cigar lover" was just checking up on his broker (which is a very good practice to adopt) at 6:32

"rolltidejr70" loves the Strong1 Strategy (6:36)

"Tim Cavanaugh" has another angle on why "80 - 90%" of options expire worthless (6:41)

"sleeper769" at 6:43 identifies and admits that fear is a roadblock. It IS! And fear is what stands between you and any dream you have. Remember that F-E-A-R means False Evidence Appearing Real. Click here!

"CHARTECH"'s tip for you (about your broker)! 6:48

Have you thought about hedging your gas purchases? See "MonsterCash" at 6:55.

"robert in biloxi" (6:40) "took the money and ran"! Then he shared his exit strategy with us all at 6:59.

Do you sometimes feel like you're at the controls of a 747? So does "woody" at 7:08.

Have you downloaded "Buy Low, Sell High"? CHARTECH's enjoying it too (7:10). Click here!

"Gypsy Woman" gets it too! (7:26)

"gary in seattle"'s sleeping well at night thanks to his exit strategy (7:30).

Here's what I've found to be a (if not THE) major obstacle to anyone's success in this business (See "DID YOU GET THAT?" just before 7:43.)

"dowjonesjr" is a 10-year Course Member who lives in Antigua, smokes Cuban cigars all day long, and "makes mucho greenbacks"! (7:51)

I don't ever remember being asked this before . . . . 7:52

"positivethinker" got bit by the pun bug at 7:56.

Longtime, big time trader "Bonita Joe" sums up Jim Rogers' book very well. (7:58)

No, I don't have to update my charts by hand any longer . . . . 8:01

"charlotte" doesn't believe I trade my multi-million dollar account in less than 30 minutes a day . . . . 8:05.

Have you entered our Chat Photo Caption Contest yet?

I think this month's photo stirred up the most imaginative (and ribald!) entries we've ever seen! Winners will be announced soon. Don't forget to keep checking for the new Caption Contest coming soon!

Until Next Time,

NOTE: If you no longer wish to be notified of our chats, please go to chat.kenroberts.net, scroll down the page, enter your e-mail address in the box provided, and then click the "Remove" button located below the box. If you would like to report a change in your e-mail address and continue receiving notification of our chats, simply delete your old address as outlined above, and then enter your new address.

Let's Talk Trading (tm) with Ken Roberts
from March 8, 2005

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As we begin this evenings session, let me state the reason I conduct these monthly chats: to provide you the opportunity to ask questions and pick the brain of a successful, long-time, real-money trader. Its not the highest and best use of our limited time here together for me to define basic terms and explain introductory principles taught in your Course materials. Thats what my Course Counselors are here for... Now is the time for you to use me to help you apply the basics youre learning and to prepare you for what to expect once youre out in the market itself (either paper trading or with real money). And if we have some fun along those lines, so much better. Alright... Ive got a Fuente Robusto fired up, heres our platter of Krista's freshly baked chocolate chip/oatmeal cookies, the coffees poured, so lets talk commodities! NOTE!!! When commenting on one of my Courses, please identify WHICH ONE. Also, when relating trading experiences and/or results, please give details: Futures contracts, options, options AND futures, etc. This helps others follow along and learn from your experience too.

poolmvp1 asks:
What do you of May/July Corn? Has it hit a bottom and is it a good time to buy a couple of contracts?

at 6:11:21 PM
Yes, poolmvp1, Corn's certainly bottoming on its Daily, Weekly, AND Monthly charts. Now, I must ask you: What's YOUR plan if it is? Let me know this evening, and then we'll continue our "corny" conversation . . . .

Bobby D asks:
Do you follow any other trading guidelines other than the hi-lo, 1-2-3, or strong 1?

at 6:13:24 PM
You know, Bobby D, I haven't been asked that, but, no, just those three basically make up my primary trading strategies. Thanks!

heinzk@ameritech.net asks:
I have just registered. I am impressed with what I have seen so far I have downloaded a lot of information and I am now in the process of digesting it.

at 6:15:20 PM
Congratulations, heinz! And as you're doing that, begin watching your daily price charts. Nothing will get you "in the groove" like those charts (and the process of updating them).

mizbiz asks:
A broker called me to talk about this course. He stated that 80 to 90 percent of all options expire worthless. Can you explain why this might be so?

at 6:19:27 PM
My (educated) guess is that (if this is true) there would be two reasons for that: 1) People (and/or institutions) purchase options to HEDGE their business (and actually EXPECT to "lose" money, just as you "expect" to "lose" on your annual auto insurance policy), and 2) Someone purchases an option in the wrong direction of that particular market. Good question. Thanks!

Don asks:
How do I find out the number on contracts traded at a specific strike price?. I am interested in the liquidity. Thanks, Don

at 6:23:02 PM
Open Interest and Volume are both listed for each and every option on the TOVI website (www.tovionline.com). Just let me caution you, however, Don, to NOT overlook what may be a terrific option just because, for example, it has NO Open Interest and/or NO Volume: Those are perfectly sound and sensible options too.

Tim Cavanaugh asks:
Hi Ken! This is Tim from Sarasota. Just been paper trading the last 2 weeks, and am excited that my portfolio is up over $13K. I am for now really relying on TOVI as I learn the basic strategies. Just wanted to let you know that it's alot of fun, but also very intense. I am waiting for the lightbulb to really go on!!

at 6:24:02 PM
Sounds like you're beginning to soon turn into a FLOODLIGHT, Tim! Good goin'! Keep us posted on your progress.

Don asks:
By the way. I have traded real money for nearly one month and my account is up 123%. I am happy but want to put this in perspective. I know this will not happen all the time. Don

at 6:24:36 PM
That's good, level-headed thinking Don. Onward and Upward!

Michael asks:
I'm curious about why you recommended Jim Rogers' book. He is quite negative on options trading and the use of charts, which is the whole thrust of your approach.

at 6:29:12 PM
I'm curious about that too, Michael, especially since over $100 BILLION is in commodity pools and funds in America and the vast, vast majority of all that money is being managed via TECHNICAL analysis (chart formations)!!! Jim Rogers HAS to know this, so I don't know why he says what he does. He also never mentions the fact that OPTIONS on futures contracts keep multiplying exponentially every year. The reason I recommend his book is because we don't hear positive feedback or good commodity trading stories often enough at all. So a book like his is a breath of fresh air in this industry.

blazingbronco asks:
Aloha Ken & Gang; paper trading 2 strategies: Strong 1 & 50% retracement. Both have prove profitable for futures and options. However, options let me wait out the various market corrections.

at 6:29:58 PM
Yes, options are the "great equalizer", just as the six-shooter was in the Old West! Congratulations, blazingbronco!

budding cigar lover asks:
Ken and Crew, just finishing up my Cuban Cohiba here in North Detroit (it's early evening for you, bedtime for me) and I'm wanting to relate a broker experience with everyone. I've started looking to liquidate a cotton call option and I asked my broker for the bid/ask. My broker responded with the previous day's settle and said "no bid/ask is indicated." I asked "Isn't there a bid/ask on every option in existence during trading hours?" My broker replied with "I'll call the floor." By the way Ken, TOVI is unbelieveable. I just signed up rhis week, and I wish I hadn't waited so long.

at 6:32:38 PM
Thanks cigar lover! (Aren't those Cuban Cohibas terrific? That's what David Letterman used to smoke on/after each of his shows . . . . Say, where are you getting yours --- Canada?) You're broker responded properly, and that is that he SHOULD "call the floor" and get a current bid/ask on your option.

John Rogo asks:
As another new " student" - any suggestions on types of commodities to follow as a learning experience?

at 6:33:39 PM
ALL of them, John! You can't paper trade too much! And doing so allows you to "get a feel" for individual markets --- they DO have different personalities. Welcome aboard, and please stay in touch.

Bobby D asks:
How can you internally-finance additional option purchases as you can do when trading a futures contract?

at 6:34:26 PM
You can't, Bobby D, and this isn't right. Let your option on this be known!

rolltidejr70 asks:
Ken, I have been using the Strong 1 strategy with real dollars. Currently in a July 150 call option and have an orderto purchase a Novmber OJ 100 call option. Since last chat entered and left options in Wheat, Cocoa, and feeder cattle. Just love the business and it is a great rush when your trade is the reason for the current price listed for a particular option.

at 6:36:52 PM
Yes, that really brings it all into focus, doesn't it?! To see YOUR option trade listed on the board! See why I say "Your money and trades are equal to Warren Buffet's money and trades in this business!"

Kra-Z4Coffee asks:
Hi Ken: Do you think this FINALLY is the year Coffee is going up to the sky? I hope so...I've followed your old Options Profit Insurance Plan over the last 3 years and have stayed in coffee all that time.

at 6:37:43 PM
Me too, Kra-Z4Coffee! Yes, I do believe (and hope!) this is the year for Coffee's takeoff. Good goin'!

juniegirl asks:
Good evening to all, If you were to purchase a call and a put on the same market at the same time, would you be more likely to make some money?

at 6:40:02 PM
A mathematician would probably say "No, you are not likely to make some money" because you have two factors working against you with those options: the underlying futures price (it has to make more than a minor move for any option to profit), and TIME --- time is always the enemy with options. Good thought, though! Thanks!

robert in biloxi asks:
I traded corn when it broke out of a channel in feb, then I bought when it broke above the 1,2,3 bottom in feb. Made a few $$$, only held them a few days, then took the money and ran!

at 6:40:54 PM
Did you have an EXIT plan, robert, or did emotion factor in . . . ?

Tim Cavanaugh asks:
For the Mizbiz question... I too am working with a broker from Refco who says he has been working with the W.G.B./TOVI program for a # of years. What he told me was that 80-90% of option traders tend to lose money, because they don't take the profit and instead the options expire worthless. Perhaps this was the point Mizbiz's broker was trying to convey to her.

at 6:41:42 PM
Good input (and valid point), Tim. Thanks! (Did you get that Mizbiz?)

sleeper769 asks:
Ken, I really don't have a question, as I just signed up today! Years ago, I purchased your "Worlds Most Powerful Money Making Manual". I used the pricipals you taught then on paper and did well. I am excited to actually get involved with your new and improved manual! Okay, that does lead me to one question...how does one overcome the fear of actually using real money to get started? Any ideas?

at 6:43:23 PM
Yes, sleeper769, it's called PAPER TRADING! That's the best way I know to help confront and rise above fear. Welcome back, and please stay in touch.

Curious asks:
I am completely new to commodities & options. I entered 4 options on Trade Tracker. If I want to to find the current premium value can I go to "Options" and check my strike for the current premium at any time?

at 6:46:08 PM
Sure, Curious, you can check those option quotes thoughout the day at www.uschartco.com (they're delayed approximately 30 mins.). And, of course, you can always call your broker for real-time quotes. Welcome!

Karl asks:
Is the Spring a good time to visit Grants Pass if I want to get in some fishing while I'm visiting you and your staff?

at 6:47:08 PM
Sure Karl --- everyone fishes all year long here in God's Country! Grab a line and come on out!

CHARTECH; asks:
Tip to all my fellow traders... I have often seen where a few have ask Ken about silent stops. Brokers have ALARMS they set(really, and when a price is hit it goes off. If they don't want to do this they are just lazzzzy. Its not like they have to sit there and watch every tick...

at 6:48:37 PM
That's right, CHARTECH, let 'em have it! Yes, you're absolutely right --- great point! (Hey Everyone: Did you get that?!)

skinny asks:
I haven't looked at your course or website for five years. I am impressed with the progress. I still have your red pen, official chart magnifier and official stainless steel cork-backed srtaight edge as well as a bunch of those old us chart company paper chart booklets. Now all of the tools are on-line. Have these tools made you a better trader, or just a faster one? I notice the focus is option trading now. Do you offer other courses or learning material?

at 6:52:08 PM
Sure skinny! Welcome back, and thanks for the positive input. Good question: I'd say the new online tools did both: I'm both faster AND better now! (Of course, it could just be that I'm like a fine wine --- getting better and better with age . . . .) I still love these paper charts though --- can't get along without them! Stay in touch!

MonsterCash asks:
Can you provide your take on all the talk in the news about gas prices going up this spring/summer. Are you looking at purchasing any options in area?

at 6:55:44 PM
Yes, all the talk you're hearing reflects what the Crude Oil futures market is doing. Our charts of Crude Oil is what I trade by, however, NOT the "stupid news" we all hear in the media. Yes, as a matter of fact, I just realized this morning that my recent profits being long (and having calls) in Crude Oil has MORE than hedged all the gas I'll have to buy to fill my cars this year (and one of those is a HUMMER --- averaging about 8.5 miles per gallon . . . .)

milkman asks:
I am paper trading and have 1 July 260 corn call should I be looking to liquidate it?

at 6:56:21 PM
That's a trick question, milkman! What's YOUR exit strategy?

robert in biloxi asks:
No emotions just had a plan that I would exit when I made a certain amount. I did not shoot for the moon since corn has been so choppy .. you know up 4 or 5 days then down. ya,gotta have a plan or nothing will work

at 6:59:12 PM
Absolutely right, robert. I'm proud of you --- you made your plan beforehand and stuck to it. That's wisdom in action. (Milkman: I'm still waiting for your reply . . . .)

smokes asks:
Are gaps in a commodity's chart of any significance? Smokes Tampa

at 7:00:31 PM
Yes, Smokes, you'll find that gaps on price charts tend to be "filled" by future price action. See Ken's Chart Book for examples. Thanks!

scorpion72 asks:
Hi, Ken. I can't think of a question, but I do have a comment. I first received a mailing from you in 1989-90 and just couldn't get started with it at the time. Over the years I never forgot my interest in the business and just the other day got ANOTHER mailing from you. Signed up with the website and I'm determined to get going with papaer trading. Is it your suggestion to just paper trade all the markets at first just to get a feel? I guess I did have a question. Thanks for being persistent with your mailings!

at 7:03:13 PM
I KNEW you needed another mailer from me scorpion72! I told them to send that last one to you! You cannot paper trade too much, and only begin with what you can handle. But as you get comfortable with paper trading several markets, add more and more. It's the best education. Thanks and welcome aboard (finally!) . . . .

jeff asks:
ken-- i have been a member of yours for 7 years. i have made successful trades and unsuccessful trades. i have followed 123, options etc. i am short canadian dollar based on 123 top. any feelings toward currencies?

at 7:04:45 PM
Sure, I LOVE currencies, jeff! (But I love all the markets . . . .)

woody asks:
I just started paper trading and find the trend tracker a great help. It is still a little over whelming, but I do see the great potential. Is there the need to use methods such as straddles or do the charts provide enough information?

at 7:08:25 PM
Don't become overwhelmed, woody. As I've said before, you're sitting at the controls of a 747 jetliner, but you need only three instruments to fly. As you progress, you'll just naturally want to add more and more instruments. You're doing great. Forget straddles, etc., and keep it simple. As a very successful, long-time trading friend of mine always says, "There's elegance in simplicity . . . ." Thanks!

CHARTECH; asks:
Just sitting here listening to BUY LO SELL HI I down laoded this week from WGB weekly email. Man that drummer is a wild one. Have 144 eurodollar puts waiting for the drop Go Eurodollar GO! GO! GO!

at 7:10:05 PM
You da man, CHARTECH! (Isn't that a HIT song we've got there?) (Hey Everyone: You can now download an MP3 of "Buy Low, Sell High" in the KRC Members Center --- it's the best!) Thanks Chartech!

bob asks:
bob from tennessee whats the best way to get restarted with wgb after being member of twmpmm 1-2 and doing nothing with it but studying?

at 7:11:04 PM
Get a set of paper charts, bob (call my Course Counselors) and then get to reading the WGB Manual. You'll be speeding along again in no time. These markets have never been better than they are now! Welcome back!

millions asks:
Hi Ken. Just started taking your course. Though it may take a wee bit to get through all that written material, so far the reading has been "gosh darn interesting." Hopefully next month I will be able to ask questions

at 7:11:51 PM
(Hey, I like your name!) We'll look forward to those questions, millions!

Fix and Fly Paul asks:
Looking forward to your option writing module. Any updates? Also, which has more clout, writing a call or writing a put?

at 7:14:49 PM
It's due on the TOVI website June 1st (will keep you posted, however, between now and then). Not sure what you mean by "more clout" --- they're both done the same way. Thanks! (And remember, Paul: If it ain't broke, don't fix it --- and you can't fix it, don't fly it!!!)

Tre-Tre from Toronto, Ontario Canada asks:
Ken you did a great job with your on-line tours they capture the essence of what you do. Despite the contradictions Jim Rogers was on the Business Channel up here in Canada and he said to do your home work and plenty of people can pick the right commodities and make a lot of money in the hot commodity markets. You and I know commodities have always been hot.

at 7:16:34 PM
Right on, Tre-Tre --- you da man too! (And thanks for your kind review of A Rich Man's Secret on the Amazon.com site --- I really appreciate that.) Hey, are you watching The O'Reilly Factor now?!

skinny asks:
Do you still conduct live training classes (like the classes on the set of 6 video tapes I have)?

at 7:17:46 PM
There will be more in the future, skinny, but for now there's ALWAYS "A Day With A Course Counselor" which is set to YOUR schedule, anytime. Thanks!

charlotte asks:
Spring Creek, Pennsylvania....Hi Ken. I'm a new course member, and expect to earn A LOT of money with your techniqes!!!!! I am so very glad I have found you. One of the most desirable advantages for me is that I can live anywhere, move somewhere else, go on vacation, etc., and conduct an active trading regimen without compromising my ability to make my money work for me. I cannot wait until I understand all this mumbo jumbo!!!!! Thanks again for providing this opportunity of a lifetime!!!!

at 7:18:56 PM
You sound just like me, charlotte! Congratulations, and welcome to The World's One Perfect Business --- the World's Greatest Business!

milkman asks:
Does U.S. Chart company have any plans of expanding the range of commodities they follow to milk butter or cheese any time soon?

at 7:24:11 PM
Uh, ohh, milkman, you did it: my brain's beginning to churn now . . . . As I graze over your question, my mind curdles, dairy I venture forth in this pasture? Wait! My mind's moooooving, and let's see how long I can milk this question with cheesy puns. Holy Cow! I'm chewing on this this. Let me get my butter charts (let's see, they're right here on top of the corn . . . .). Too bad we don't trade wine, for then we could have wine and cheese . . . . I do like to mix guacamole and swiss cheese --- I call it Holy Moley! Nope --- this is gouda enough!

Gypsy Woman asks:
Many thanx for your paper trade, paper trade, paper trade advice. I did, but not consistently. Went back to it, and since Sept. I have made + $40,000 profit in Coffee, Lumber, CRB, Bean Oil & Meal - the light has finally come on, and it's exciting and is beginning to be a time I can't wait to get to my laptop! Thank you again for all you do - I see much of Dr. Hawkins teachings in your ability and willingness to share - are you about a 400 yet?!

at 7:26:23 PM
Anything over 200 is fine with me, Gypsy Woman! Good for you . . . . Glad you're having so much fun and learning a great skill. (See www.4starbooks.com for Dr. Hawkins books and CDs.) Thanks!

Junkman asks:
Is there any advantage to waiting until 2 or 3 strategies give the same entry signal?

at 7:28:05 PM
Try it on paper, Junkman, and let us know how it goes!

Chris asks:
I have been paper trading for several months; slowly becoming successfull - turned $10,000 into $15,000 in the last 3wks (this is actually an understatement from my paper trading. I am making my buy & sell decisions from the Active Months, but am wondering if I should be making my sell decisions from the actual month traded? Thanks

at 7:29:29 PM
I still believe in and use the Active Futures Month for all my trading decisions, Chris, since I consider it the driver, and all other contract months passengers. Good question. Thanks!

garyin seattle asks:
Ken, seeing a lot of new traders and oldies coming back, that's good. I have been in and out since 1999. On Dec 15, 2004 I started serious paper trading, 20 to 25 commodities. I was up 1G for Jan, 1G for Feb and so far for march 3G's. I am getting the hang of it and boy am I excited. The key is your exit plan. I am not greedy, so I get out at 100%. I am ready for real moola this month. So paper trading works. THANK YOU GUYS!

at 7:30:28 PM
Thank YOU, garyinseattle! Couldn't have said that better myself! (Hey Everyone: Did you get that?)

(Couldn't resist this one, garyinseattle): And if you have a good EXIT strategy, you'll be sleepin' well in Seattle . . . .

bhancock asks:
What happened to my question?

at 7:31:37 PM
Which one, bhancock?

Jack asks:
Hi Ken, I just signed up for your course and want to thank your counselor "Bob" for being patient with me. The reason I bought your membership is your great service. Jack, Los Angeles

at 7:32:22 PM
Thanks Jack! And BOB thanks you too! Yes, he's terrific (as are ALL my Course Counselors).

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akrocky asks:
I've been up and down in the markets for the last few years but I have started using TOVI in my paper trading and it is doing quite well. I believe I too may have a hummer one day. Just keep TOVI going. Thanks

at 7:43:01 PM
Oh yes, akrocky --- TOVI will just keep getting better and better. We've only just begun! And wait'll you drive that Hummer . . . ! Thanks.

Roger B asks:
Ken, Is the active month the same as the front month?

at 7:43:30 PM
Sometimes, but not always. The Active Futures Month is the month with the highest open interest.

gthatch asks:
I am still learning how to use Trade Tracker, and maybe the program doesn't work like this, but can you place a paper trade futures stop order (an open order) and monitor when it would have been filled? Gary--Ohio

at 7:44:29 PM
Not yet, gthatch, so until it does, just check prices every day (which I must assume you're doing anyway). Thanks!

rolltidejr70 asks:
My present trading plan is to exit an option with 25% gain or 50% loss if trend remains in place. If trend makes a reversal, I look to get out ASAP. Results: Cocoa(+40% in 7days), Feeder Cattle(+25% in 4 days), Wheat(-25% in 5 weeks when trend reversed). My account is to the plus side !!!

at 7:45:26 PM
Sounds like a good plan, rolltidejr70. (Have you tried increasing that "25% gain" strategy with something larger?) Thanks!

Len asks:
Ken, not a question, just thanks for the time you provide. I'm very new at this but greatly appreciate your style and information, puns included..... Many thanks...

at 7:46:53 PM
Thanks Len! (And I'm especially grateful that you appreciate my puns!)

IntotheFutures asks:
My mom said eat alot of fibre, but I like the kind you wear. I purchased 2 rounds of cotton options. The first ruond expired worthless, but I cleaned up on the 2nd round. The point is you have to stick with a good trade.

at 7:47:45 PM
Great goin' IntotheFutures! Thanks!

charlotte asks:
Spring Creek, Pennsylvania -- Ken, do I need to call ahead before I stop in to see your company headquarters?

at 7:49:24 PM
We're here all business days and business hours, charlotte. Come on by --- can't wait to meet you and show you our Trading Lounge!

realfast asks:
Hello Ken, when you actually trade can you just trade one option like corn and wait, or do you have to trade more than one option when you start?

at 7:49:55 PM
Nope, just one is okay to trade!

dowjonesjr asks:
K,en hailing from Antigua in the eastern Caribbean mon!! We're right next to Cuba so legal smokes all day long - whata ting!! Been a student ten years now. Thanks for showing me how to live in the sun and still make mucho greenbacks. By the way what's your favourite Cubano? Mines the big fat Esplendidos!!

at 7:51:09 PM
You da MON, dowjonesjr! I love those Hoyo de Monterrey Double Coronas --- can't be beat!

dave asks:
Hi Ken; Dave from ct. Well what a difference a month makes;remember those july 680 soybean calls? cashed two out and more than doubled my money. However,they moved up very fast;Do you think a correction in price is coming thanks dave

at 7:51:51 PM
Yes, Dave, a correction in price is ALWAYS coming! (Nothing moves straight up or straight down.) Good goin'! Congratulations.

marcus asks:
ken, when studying charts...the monthly...the weekly...is the daily the strongest to trade from?

at 7:52:55 PM
Well, it's the strongest as far as ENTERING any market goes, but the strongest in terms of size of price moves would have to be the monthly chart. I don't think I've ever been asked this before! Good one!

java jones asks:
Ken, I've been in the coffee market for over 2 years.It hasn't been too hard to find cheap options, but now that everyone is watching option prices are outrageous!I have one May 150 call left which is running out of time. Furthur out options are now out of reach. How do I stay in this market? It would be a crying shame to miss it now!

at 7:54:57 PM
Well, you have until next month, java jones, before that option expires, but Coffee's wailing upwards right now, so enjoy those profits. Think about adding some more calls on a setback (which is sure to come, as I just mentioned previously) . . . . Keep us posted. We'll look forward to your next installment!

positivethinker asks:
Did you hear how the corn trader reacted when Ken Roberts gave his advice on that market? He was all EARS! I hope this had a small KERNEL of humor in it. I have a BUSHEL of these one liners! I would've given my real name but I'm a bit YELLOW. I know Ken, KEEP MY DAY JOB, HA HA HA HA!!

at 7:56:29 PM
(To quote a line from the movie "Because of Winn-Dixie":) "What in the name of corn on the cob is going on here?"

Bonita Joe asks:
Ken - HOT COMMODITIES is a good book, but he sure goes to a lot of work to tell the reader what the chart told us yesterday. I think the moves in the charts are the results of the fundamentals but still is old news. Keep in the NOW, use charts and go forward. Rogers talks about coffee very stongly, but the monthly chart tells the same story. I have been in coffee with mostly options mixed with futures for months and am having FUN!!!!!! Thanks Ken!! Looking forward to coming to G. Pass again!! Bonita Joe

at 7:58:36 PM
Thanks Bonita Joe --- great to hear from you again! Love your analysis of Jim's advice. Yes, he goes to all that trouble telling us to learn everything there is to know concerning coffee's fundamentals, and then shows us a monthly coffee chart to make his point! I love that! Yes, come on out and see us! How is your supply of cigars?

bhancock asks:
Ken, which commodities are too lightly traded to be safe to trade? Very low volume could cause high volatility and make exiting a slow or difficult task. I asked my broker about trading coal and he advised that could be treacherous because of the above reasons.

at 7:59:32 PM
Yes, this is a concern in some markets, bhancock (but not many as far as I'm concerned). But here's a great pitch for OPTIONS! Good one! Thanks.

sleeper769 asks:
Really!? Wow! I didn't know you could set an alarm! Good to know. Will a broker do that for a stop loss order?

at 7:59:47 PM
Yes!

Matt asks:
Ken, Read all of your information. Paper Trading for aweek. This is fun and really makes you think about the process. Practicing the Strong1 Strategy as it is the easiest for me to grasp at the moment. I do plan on reveiwing your suggestions on all strategies via the Friday e-mail as you give a lot of great insight. I am in line with your suggestions on Stong1. Do you see one of the three strategies working the best over time?

at 8:00:25 PM
Try the Hi-Lo Breakout Strategy next, Matt, and then let us know your thoughts . . . .

harryo asks:
harryo; your answer to skinny - does that mean you still record the markets by hand on your charts? Thank you, Ken

at 8:01:25 PM
As you get used to this, harryo, and call your broker every day and get the current Active Futures Month's price update, you'll find that a mental picture develops in your mind and you do NOT have to physically put a dot on your chart to update it! Try it . . . ! Thanks.

dowjonesjr asks:
hey gang has ted warren died a second death with the advent of TOVI?? nobody on the chats talk about tops or bottoms, channels or pennants anymore!! i feel like i'm in the movie IRobot, depending on machines to do all the thinking for us. what's the deal???

at 8:03:44 PM
This does not compute, carbon unit "dowjonesjr" . . . . Seriously, though, every formation and tool we use is based on everything Ted Warren taught! Remember, too, that TOVI is a TOOL, not a "black box" trading system. Good comments. Thanks!

charlotte asks:
Spring Creek, Pennsylvania -- Ken, how much trading volume do you juggle daily? Surely, if you have a multi-million dollar account, you must spend more than 15 or 30 minutes each day studying your charts???

at 8:05:32 PM
Yes, charlotte, LESS than 30 minutes a day! (Honest!) I even have it on video somewhere where it showed me doing this real-time! Try it!

Well that's it for another month. Check out my favorite web sites: www.tovionline.com (Have you taken my personal tour yet?); www.uschartco.com ; www.fourstarbooks.com ; www.historictrees.org ; www.billoreilly.com ; www.wildlifeimages.org ; www.salestax.org (Let's abolish the IRS!); www.LP.org (Take The World's Smallest Political Quiz and see where you stand!); www.VOTE.com (Make your voice heard!). My next chat will be Tuesday, April 12th. As always: Use these newfound powers only for Good. Good night, God bless, and watch where you step!

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