Let's Talk Trading (tm) with Ken Roberts
from April 8, 2003

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As we begin this evening’s 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. It’s 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. That’s what my Course Counselors are here for... Now is the time for you to use me to help you apply the basics you’re learning and to prepare you for what to expect once you’re 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... I’ve got a Montecristo #2 fired up, here’s our plate of freshly baked chocolate chip cookies, the coffee’s poured, so let’s talk commodities!

ML asks:
What was the reason for developing TOVI? Were you in some way not completely happy with you’re original way of trading options?
at 6:18:39 PM
Good question, ML. I just wrote the complete story of how my broker Steve and I developed TOVI (over a period of about three years), but basically, I got tired of not really knowing which of the multitude of options available was "the best." How do you know???!!! Well now, TOVI shows you which is best! Have you tried TOVI? How do you like it? Awesome, huh?
Eric in Fort Worth asks:
Good evening, Ken. What's your take on Coffee?
at 6:19:14 PM
I'm long, long, long (and waiting, waiting, waiting)!
beavis asks:
Hi Ken, Beavis from Louisville, you used to preach the rule of 3s in TWMPMM II, but now seem to advocate going further out in both time and strike prices. Why the switch?
at 6:20:46 PM
Hello beavis. Futures and options trading is not static; it's a dynamic process. So I just report new developments as I discover them. And that's all led to TOVI! Thanks.
macho trader asks:
Redondo Beach, CA: Ken...in rice, I've got a monthly target 7.95, and a weekly of 7.45. My question is what are you using as your daily/first profit taking point? We just made a new 52 week high today! Thanks.
at 6:23:16 PM
The Weekly 50% of 7.35, then the Monthly 50% of 8.0. Thanks macho trader!
NOTICE!!! (Just one of several this evening): To all GAB Coursemembers: Be sure to sign up for your FREE month to TOVI and U.S. Charts on-line!
Fix and Fly Paul from Fort Wayne, IN asks:
Ken: A few days ago I had a conversation with a "Broker" who said Soybeans were ready for a BIG move and I ought to get in on it. Am I crazy or is he just about six weeks late in the advice column? I said rice was going to 7.37 and he wanted to know How I knew that. I told him that a little chart told me. By the way the electronic chart program is absolutely the best thing since sliced bread. Fix and Fly Paul from Fort Wayne, IN.
at 6:26:38 PM
Well, there's still a lot of upside potential on the Soybeans Monthly chart, Fix and Fly, but I doubt whether that's why the "broker's" pushing Soybeans. You're right; he's wrong. Stick to your charts! Thanks.
PrestoWizbang asks:
It looks like there could finally be a 123 Top formation in Eurodollars! Hope so, anyway...
at 6:27:23 PM
Yep: A 1-2-3 top at all-time highs!
big jack newman asks:
are you still optimistic on the metals long term?
at 6:28:29 PM
Absolutely, big jack newman: Look at the Monthly charts of Silver, Gold, and Copper . . . .
Ed asks:
Ken, how does your GAB course differ from the TWMPM courses. Thanks
at 6:30:12 PM
TWMPMM I teaches futures mostly. TWMPMM II teaches options. GAB is TWMPMM II's evolution. Thanks for joining us this evening!
Stan from Roseburg asks:
Hi Ken, In reading many of your manuels, watching even more of your tapes, and listening to your chats, I've heard you say at least 100 times to go by your charts. NO FUNNYMENTALS!! But how about watching weather for certain commodities? I read a story of yours once about buying grain calls during a drought. Just curious. Thank you for everything.
at 6:31:51 PM
Hi Stan. I do NOT consider weather at all when trading. I remember once during a drought here in the United States everyone was expecting the grains to rocket to new highs. When they dropped like a rock, the "news" blamed it on grain bumper crops in Australia!
Jim from Kalamazoo, MI asks:
What is a good month to buy put options for Eurodollar?
at 6:32:50 PM
As far out as it makes sense, Jim. Go shopping (and then compare your choice to what TOVI says is the best value now)! Thanks!
Attention GAB Course Members: Here at The Ken Roberts Company we love hearing from our Course Members. Let us know how things are working out for you. Don't be shy - here's your chance to tell us how you are doing. We even made it easy for you to by setting up a special e-mail address you can use any time you want to share your experiences with GAB. Just write to: feedback@kroberts.com . So send us your experiences with GAB, suggestions for improvements, or ideas that would make GAB even more valuable to you. I look forward to hearing your comments. Personally, Ken Roberts
Eric in Fort Worth asks:
Hi again, Ken. To me, the most extreme markets at this time appear to be Coffee and Eurodollars, which I would imagine you're loaded up in. Are there any other markets you especially like at this time? Thanks.
at 6:34:55 PM
Euroyen, Silver, Rice, (and check out your Monthly charts, Eric) . . . .
Fix and Fly Paul from Fort Wayne, IN asks:
Ken and Crew: By the way I'm up over $1,600 in rice the last three weeks. This is without a doubt more fun than should be allowed by law. Fix and Fly Paul.
at 6:35:08 PM
!
A from FLA asks:
Ken, where do you feel gold is headed and how long will it take to get there?
at 6:35:35 PM
Well, I know long-term it's headed UP. When, I don't know . . . .
Mattituck Mike asks:
ken the books and tapes at four star are life changing...even if i dont make my millions(which i will someday)...what ive learned now will change the course of my life...mm
at 6:36:08 PM
That's the right order, Mattituck Mike!
skizee asks:
Hi Ken--Is the Greatest American Business Course and TOVI seperate from your other courses. What is this all about?
at 6:37:29 PM
GAB is my latest and greatest Course, skizee. TOVI is also awesome and it's an independent website service just as U.S. Charts On-line is. Thanks for joining us tonight.
granpa asks:
good evening, my question is when placing bids on far out options at half price, they often just sit there for weeks or months waiting to be filled. would it not be just as well to buy closer to the money options at the lower price at that time since you would be in the market right then. tnx for all your help.
at 6:38:54 PM
I always go for time, granpa, but there's something to be said for your strategy (after all, you're IN the market when I'm NOT). Paper trade both and see which works better for you (and also compare your strategies to TOVI's . . . .).
moose asks:
Hi Ken, How long should you wait to take the actt course. thanks Moose (Buffalo)
at 6:39:55 PM
The answer to that is as individual as your fingerprint, moose --- whenever YOU'RE ready. (Do moose have fingerprints???)
optionsfirst asks:
Hey ken, When using the TOVI system for finding the best option Do you still bid half of what the option is going for at that time. Listen to me now and you will believe me later is starting to come true. THANKS
at 6:41:40 PM
Thank YOU, optionsfirst. With TOVI, you can confidently purchase that option at that price (and not bid lower) since TOVI's already determined that option to be the best value at that time. Good question . . . .
jawga asks:
Hi Ken When you are looking at long term resistance and support levels on the weekly and monthly charts, how do you handle big moves coused by changing of the front month contract, ie, the long term shows a channel but when the front month changes, we are way out of the channel.
at 6:42:57 PM
ALL prices count on Weekly and Monthly charts even if "big moves" are caused because of the front month changing.
NOTICE!!! Please send me your TOVI comments and suggestions: feedback@kroberts.com. I REALLY appreciate your input! Thanks!
BJ LOCK asks:
BJ FROM NEW YORK,Hi Ken ,missed last two months of chat room can you tell me what is "TOVI"
at 6:46:13 PM
Sure, BJ. I'll do even better: Go to www.tovionline.com and take a tour! (Then let me know how you like it!) Thanks!
trwtrader asks:
Ken, Do you purchase more than 2 options at a time of the same commodity when you see an opportunity, like purchasing several futures contracts of the same commodity at one time. Do you recommend purchasing several options in different months if your budget allows it? Any positive responses yet about members using TIVO? I will be using TIVO starting tomorrow and will let you know on your chat next month how it has worked for me.
at 6:50:59 PM
Thanks trwtrader. Let me just say this: I always like TIME when purchasing options. Sometimes that works out that I'm in two or more contract months and sometimes the market takes off when I simply have options of the same month. Hope this helps.
lattimore asks:
Hi Ken, we (my husband and I) have read the course through once now I am reading it through a second time. In the course (page 81) you say that "most options expire worthless but the profit you make on one good option trade can more than make up for the the ones that don't work out as you planned." Since we are starting with limited resources, this sentence concerns me.
at 6:51:40 PM
Thanks lattimore. Paper trade. Then you won't be concerned . . . .
Allbert JONES asks:
REDDOGFROM pORTSMOUTH, HOW LONG DOES IT TAKE TO LIGUADATE AN OPTION?
at 6:52:22 PM
Typically it's a matter of minutes, Allbert.
RickDenver asks:
By the way, also long Coffee and waiting...thanks again for your guidance...I've been a course member for almost 6 years now and soon I think I will no longer need to work at all, except of course for the half-hour a day charting...Rick
at 6:52:56 PM
Alright, RickDenver. So what do you do the rest of the day?
Ed asks:
Ken, looks like sugar is just doing a 50% retracement back to 7 looking at the weekly chart. Would you agree?
at 6:53:53 PM
Yes, Ed, that's a 50% retracement on Sugar's Weekly chart.
Fix and Fly Paul from Fort Wayne, IN asks:
Ken: Since a lot of us are on a budget (at least I am), is the best way to look for promising trades is to look to the Daily - Weekly - then Monthly in that order for the best moves in options? Fix and Fly Paul in Fort Wayne.
at 6:55:04 PM
Actually, Paul, I'd reverse that order: Monthly, Weekly, then Daily. (The largest moves will occur on Monthly charts.)
jawga asks:
OK, a question you may not want to answer. . . How do we loyal followers know this is really Ken? He is a zillionair, why bother with this trivia?
at 6:56:07 PM
You're right, jawga. I don't want to answer that . . . . (Yes, it's REALLY me, and the only reason I do this is because I love it.)
Gavin asks:
Building on Ed's question, for those of us that have only taken TWMPMM I, is it necessary to take TWMPMM II or could we just jump directly to the GAB course?
at 6:56:28 PM
You could jump, Gavin. Jump!
terry asks:
TERRY FROM PIGGOTT, ARK WHAT IS THE BEST WAY TO FIND A GOOD BROKER?
at 6:57:16 PM
Interview them (and then don't fear LEAVING one if it turns out to be the wrong choice for you). Good question. Thanks!
trwtrader asks:
Ken, What is your experience with options that are close to expiration and have not hit their 50% level. I know they lose intrinsic value rapidly within 60 days of their expiration date. Does the market have to make a substantial move toward your option's strike price to realize any significant gain? Thanks.
at 6:58:41 PM
Actually, trwtrader, they lose TIME value (and typically not INTRINSIC value) close to expiration. But I hold on till expiration because often that final week can make a huge difference.
Terry asks:
Ken where do I go to sign up for a free month of US Charts, and a free month of TOVI. I have all of your courses but not TOVI?
at 6:59:01 PM
Just call a Course Counselor, Terry.
RickDenver asks:
I have found the ACTT course to be a real help...I would recommend it to anyone who knows the fundamentals of trading and has a little bit of experience.
at 6:59:14 PM
Thanks Rick!
Oliver asks:
Hi Ken, I don't have a question, since I just opened your GAB materials yesterday and have just begin the learning curve. I just wanted to say Hello, and that I am glad to be here. This 'chat' format is fantastic.
at 6:59:40 PM
Thanks Oliver! Welcome aboard . . . .
newyachtscott asks:
What is TOVI, how do I order it? and how much does it cost?
at 7:00:18 PM
Go to www.tovionline.com, take a tour, then call a Course Counselor! You'll LOVE it!
Ed asks:
No offense Ken, but why are the only questions being answered about "tovi" ?
at 7:01:12 PM
!
Eric in Fort Worth asks:
Considering your reply to pay close attention to the monthly charts, I see an excellent buy opportunity in Copper as well. Do you have a heavy position in this market, or are you watching for a more solid bottom formation to develop first?
at 7:01:29 PM
Heavy.
ninofeo asks:
Hi Ken. What's the deal with Pork Bellies? My crystal ball says is will hit 100. Have you started shorting pb? Great Chats..Thanks!!
at 7:02:38 PM
I'm not short yet, ninofeo (and I'm not long either). Thanks!
Lynne asks:
I went to the TOVI website last week to take a tour and ended up totally confused. I didn't get it. It all sounds so super and I would really like to understand it. Is there any way to understand it better? Is it because I haven't taken the GAB course?
at 7:04:12 PM
If you've had experience with options, Lynne, TOVI should be crystal-clear to you, so I'll have to say "Yes, it's because you haven't taken the GAB Course." It IS super . . . .
LongCoffee asks:
Do the charts tell us WHEN Coffee will take off? IF so, when? Thanks for introducing this business to us. I plan on being a millionaire after the next big coffee move. Would never have known about if but for your flyer. I look forward to visiting Grants Pass soon and shaking your hand.
at 7:05:02 PM
Hello LongCoffee. Yes, come on by! No, no one knows WHEN. But I do know "If you're not in, that's WHEN"!
asks:
Hi Ken, GRT from P.E.I, Canada. I'm just getting started and plan on using options to build up some cash. In your opinion, when is an option too far out of the money...I was looking at the Cocoa markets in particular but the real cheap ones seem to be well beyond the weekly 50%. Thanks to all at KRC!!
at 7:06:57 PM
There's no precise answer to your question, GRT, but I'd stay WITHIN the Weekly 50% target (you're looking at Cocoa PUTS, aren't you?).
countrygirl, Ontario asks:
Hi Ken, I have two Sept wheat Calls @ 350 strike, does this seem right to you?
at 7:07:55 PM
Sure does, countrygirl. Good goin'!
Nicola Valley asks:
As a new GAB course member is there a time limit on when I can sign up for my free month of TOVI? I have my trading on hold for another month or so and don't want to miss out on trying TOVI Thanks for all you do Ken. It's awesome.
at 7:08:53 PM
Thanks, Nicola Valley. Your free month is available anytime during your THREE-MONTH GAB Course period. Thanks!
Eric in Fort Worth asks:
Ken, I really appreciate your emphasis on paper trading, which I can truly say has taught me so much. While actively trading with real money, I'm also still paper trading after 8 years, and am continuing to sharpen my feel for the markets through the process. For you newer course members out there, remaining diligent with the paper trading process should go a long way for you!
at 7:09:22 PM
Wise words, Eric. THANKS!
big jack newman asks:
thanks Ken for sharing your knowledge with us - You are giving a lot of people the opportunity to become millionaires. Thank You
at 7:09:37 PM
Thanks big jack!
RickDenver asks:
Well, after an exhausting half-hour of charting and calling my broker, I sometimes take a nap.
at 7:10:53 PM
Me too! Naps are the secret to a long and happy life! (I was tempted to write a book titled "The Joys of Napping" --- Hey, maybe that's a new Course . . . .)
hawaiian breeze asks:
Ken,If my broker wears a suit to work is that all the more reason to get rid of him aside from trying to give me bad advice.Keep up the good work Ken.
at 7:11:22 PM
Good observation!
Kari asks:
Hi Ken, I am collecting gold options and gold goes lower,Iam not too happy about that.But my rice is shure making me glad I am in. Am I nuts to go for the gold ??? Thanks a million for the chat, it helps a lot. You are my HERO!!!
at 7:12:03 PM
Thanks, Kari! No, you're not nuts. Remember: Some of those Rice options dropped in value as Rice dropped too . . . .
Ninja asks:
Hi Ken, I know you are long the silver and gold markets but do you you also trade coins and bullion? Many say futures & options are far to risky but you made a bundle in the futures so what is your feeling on owning coins/bullion? thanks
at 7:13:12 PM
I do own coins/bullion, but I don't TRADE them.
Ben asks:
Ben--Austin,Tx.--Ken--Is this a good time to make plans to short June LC?
at 7:13:56 PM
Yes, I'd be pricing PUTS now (and that's no bull).
Gavin asks:
Edmonton, AB, Canada. Hello Ken, I have only been a course member a couple weeks and my paper trades(mostly from the Alert Line!) are doing great! I am planning on ordering some of your additional courses to learn as much as possible. I am wondering if there is a book(or other info) you would recommend that deals with seasonal factors as they relate to the commodities markets. You're awesome! Thanks for this great opportunity!!
at 7:15:05 PM
Thanks, Gavin. I find there are no seasonals in the markets (since they're worldwide). (See my response to the earlier "grain" question concerning weather, for example.)
BigBob asks:
I'm very new to the course and have just started paper trading, but I'm not very clear on how to pick the strike price or expiration month for my options. Can you give me some pointers?
at 7:16:18 PM
That's the "art" part of trading, BigBob. Just get in there and start picking using the guidelines taught in the Course. Also, don't forget to use my Course Counselors for help --- that's why they're here!
bill asks:
What do you think about july beans?
at 7:16:45 PM
I'd expect a 50% retracement soon.
Over the Top asks:
Ken Rod from Fort Wayne IN - That's two of us from Fort Wayne - Is it possible that if all TOVI users bought the same option there wouldn't be enough for all of us? Maybe the markets are just that big! Will the exchanges ever figure this out?? Rod
at 7:18:11 PM
No, Rod. Options on futures dwarf options on stocks, for example. Also realize that TOVI first asks YOUR parameters before making its selection (and YOUR parameters will be different from mine!). Thanks!
CoffeeCat asks:
Hi Ken- Just wondering, I have been buying options in markets poised to make big moves. In several cases, the option will begin to increase in value, the premium will rise enough to cover the commission, plus yeild a profit of about $50, give or take a few. Because the front month chart for the underlying futures has NOT hit its target, I don't liquidate. Almost every time, the option then proceeds to dwindle down to almost nothing. I know you say to trust only the charts, but after over a year of this, I feel like maybe I should just take small profits instead of holding out for the daily and weekly targets. Or maybe I have been in the altogether wrong markets? (Coffee, cocoa, eurodollars). Any advice?
at 7:20:03 PM
From my own experience, CoffeeCat, hang in there. (Maybe liquidate one at the small-profit point?) Don't change your trading style, though. Persistence pays . . . .
potter asks:
Ken: Did you at one time publish a course on investing in mutual funds or some other instrument, once a person accumulated a certain amount of cash? Sort of an instrument of some kind to park your money, once you've accumulated so much of it? I think it started out with you talking to some producer from Hollywood? I didn't see it in your catalog, maybe it's out of print?
at 7:21:04 PM
Yes, potter. That was my hot-shot neighbor in Ojai, California. Ask a Course Counselor about the Mutual Fund Course and the Retirement Course. Thanks!
dxw asks:
When using TOVI and buying an option at the current price do you state a definite price (rather than "at the market") therefore making your order a limit order?
at 7:21:31 PM
Good question, dxw. Yes, ALWAYS a limit order.
jawga asks:
Ken Thanks for answering the question you did not want to..Are you really here? That says a lot for even putting it on line.You have my respect for that and my renewed belief that that this business can change lives
at 7:21:57 PM
Thanks, jawga!
HappycamperNY asks:
Hi Ken and everyone, I have july calls in Coffee (my 2nd round) and I was getting ready to purchase September or December calls but I noticed the premiums increased noticeably in the last few weeks, although the future prices hadn't turned around yet. Is that just people's increased attention... ? Thanks for everything, doing great on paper trading!
at 7:22:38 PM
Yes, HappycamperNY, that's people's attention (which is VOLATILITY). Wait it out. Don't pay those high prices!
countrygirl, Ontario asks:
Ken, RickDenver used the "f" word. Shame on him.
at 7:22:46 PM
!
MGRRAE asks:
Ken, When is the best time to sell an option? 30 days or one week before expiration? I have paper traded two weeks now and have done great!
at 7:24:35 PM
Good goin', MGRRAE. I don't LIQUIDATE any of my options unless, and until, my price target(s) is/are hit.
terry asks:
TERRY FROM PIGGOTT, ARK WHAT IS JUNE LC?
at 7:25:03 PM
June Live Cattle (which are dead. And Feeder Cattle are alive!)
chart farmer asks:
The way I see it, pork bellies and live hog markets are similar to pig farming. If you try to chase them in one direction, they will pretty much always try to run the other way, usually between your legs. My advice... stand real close to a wall (stop losses and options).
at 7:25:26 PM
!
jesstartin asks:
Hi Ken. We've been paper trading for about 7 months now. We got really close to making a trade with real money and didn't in the end. Since then I've been totally avoiding the whole thing except to read the monthly chats. I was super enthusiastic about this whole venture and spent a lot of time learning about it all and watching the charts etc. Have I got a case of nerves do you think? Any advice?
at 7:26:37 PM
Sounds like it, jesstartin. How did your paper trading go? You'll know you're ready to trade real money when you find yourself saying "I'm tired of being right and not making any money at it" a lot. Keep joining us here!
snake9 asks:
hi ken i`m a newbie to your coarse. do you ever sell or write options to lock in profits?
at 7:27:32 PM
Never, snake9. Selling/Writing involves UNlimited risk (the same as a futures contract does).
snake9 asks:
ken, do you ever buy options at the market?
at 7:28:24 PM
Only when TOVI tells me to!
pqhpat asks:
Hi,Ken. This is your yogi friend from Texas. Is it still safe to go long on rice at this point?
at 7:28:55 PM
Yes, pqhpat, long-term (but wait for a pull-back).
trooper asks:
What do you think about corn at this time
at 7:31:26 PM
It's going to 360 (Monthly 50%)!
jawga asks:
I want to refraise the front month question. Suppose resistance or support is broken due to a move of front months.How do you adjust?
at 7:32:08 PM
Then THAT becomes the new support/resistance point.
tilco asks:
is 2000 enough to open account?
at 7:32:33 PM
Yes, tilco, I know many Course Members who have.
Eric in Fort Worth asks:
Ken, do you happen to know about how many of your course members are trading full-time (for a living), and can any of them share in these encouraging chats how they did it? Thanks.
at 7:33:35 PM
I have no idea on stats, Eric, but many do share their stories with us (check out the Chat Archives too). Thanks!
G714 asks:
Good Evening, I'm a 1999 course member - What's GAB stand for?
at 7:33:52 PM
The GREATEST AMERICAN BUSINESS (Course).
Fix and Fly Paul from Fort Wayne, IN asks:
Ken: Curiousity - Why are there no options on Palladium?
at 7:34:43 PM
If there were enough demand, Paul, the Exchange would offer them. So I have to say because there's not enough demand.
southpawd asks:
Is it possible (and recommended) to execute orders on line for commodities options, similiar to equities trading, like Fidelity, Ameritrade, etc.?
at 7:35:08 PM
I know many Course Members do, southpawd, but I never have.
punter asks:
Hey Ken, Ed from NJ again. I went to West Point (go Cadets and God Bless the boys in the desert) and teachers always used to talk about "fighting on the stragetic defensive". That means putting your enemy in a position to have to move the way you want to and you sit there and wait for him. You sound just like that when you talk about Eurodollars and "having them boxed in a corner". I swear the first time I saw that tape it brought me right back to the Point.
at 7:35:55 PM
Thanks punter! (And look at Euroyen too!)
signia asks:
I'm pyramiding rice now, found out real quick, that I needed to go at half speed,well, everything's fine now, doing great. Thanks Q: Should you trade the front month, and if so,why? My Brokers have suggested this.
at 7:36:53 PM
I rarely trade the front month, signia --- I want TIME (in futures and options). Thanks!
wal asks:
Are you long OJ?
at 7:37:34 PM
Yes!
snake9 asks:
hi ken, newbie to the coarse, do you ever sell or write options to lock in profits? how long does it take to activate the charts and TOVI once you`ve called?
at 7:38:44 PM
No, snake9, I never sell/write options. Usually by the second business day . . . . Thanks!
southpawd asks:
Probably another silly question, but, 50 % retracements seems general, so do YOU moderate in general (40-60%) or go by "feel"?
at 7:39:26 PM
As close to the 50% as possible.
stagr asks:
Ken I think that people should be excited that you are inventive enough to keep coming out with new products, has anyone caught on to how dynamic your company really is, it is very exciting
at 7:39:45 PM
Thanks!
rick asks:
Rick from Barrie,Canada good evening; ken ,what is your position in cattle live, I am short waiting for the 50% weekly, unfortunately I did not take any profit at the 50% daily (I had made $8000) and the market is moving against me (i had lost $1500 so far). I believe in my wise teacher Ken Roberts and i am applying his principles, but my fear mind is starting to shake myself.Master what did i do wrong or I am doing right (april 03 short)
at 7:41:04 PM
Believe your charts, grasshopper.
Fix and Fly Paul from Fort Wayne, IN asks:
Ken: By the way, I've got a Romeo No. 2 (Romeo y Julieta) in the humidor for my first score in options. Thanks again for your courses and the encouragement and help your and your counselors have provided. Fix and Fly Paul.
at 7:41:42 PM
Yeah!
Mattituck Mike asks:
ken...in 8 markets now...my broker says im a "monster trader" just exited copper(net profit 400.00) and bean oil(net 2300.00!). nice move in canola, ay!...mm
at 7:42:04 PM
You're a trading machine, Mike!
countrygirl, Ontario asks:
Hi Ken, renewed my subscription to us charts online and received a bonus pack, tools of the trade, it has helped me see trading in a different light. I think I get it now. Am paper trading to see if I am right. Thanks for the free bonus pack, you are the greatest.
at 7:43:12 PM
Thanks! I LOVE those videos. Aren't those Course Members great?!
Eric in Fort Worth asks:
Hi again, Ken. Cocoa is still pretty high, but since that market is known to be choppy would you shy away from (shorting) it?
at 7:43:24 PM
Not with puts!
Ed asks:
Ken, What book (from four star) would recommend that is best to help understand and control ones emotions for trading. Trying to control fear,excitement,wishful thinking.... isn't easy! One thing I enjoy best about trading is that it helps build and show what my character is like. Thanks Ed
at 7:44:37 PM
Browse through our catalog and choose one that "speaks to you," Ed. Anything you learn about yourself is True Value.
ShowMe in St.Louis asks:
Hey Ken. Thanks for the chats and the materials. I am currently still long on a perfect 1,2,3 bottom in rice. I am getting ready to get out. The market I am really getting hyped up about now is soybeans. After this long channel(accumulation), I see a great potential on the upside. Do you read it that way too?
at 7:45:32 PM
Yes, ShowMe, me too!
Ken from Green Bay asks:
When looking at options prices there is a bid and an ask price - can you explain the difference and which is the price one should target?
at 7:46:39 PM
"Bid" is what traders are offering to pay for that option. "Ask" is the price option writers want. It's simply an auction taking place . . . .
Thumb Picker asks:
Well it's been very interesting this first time chat for me. Tomorrow I start to work on my copy of your course. Next chat won't sound like Greek to me. Thanks Ken.
at 7:47:28 PM
Thanks, Thumb Picker! Check out our Chat Archives too!
newyachtscott asks:
RECIPE FOR YACHT" STEP#1-BUY COFFEE FUTURES CONTRACT. STEP#2-MULTIPLY THEM LIKE RABBITS. STEP#3 SELL THEM LIKE HOTCAKES. STEP#4-BUY NEW YACHT. THANKS FOR THE GAME PLAN KEN.
at 7:48:05 PM
Nice recipe, Scott!
granpa asks:
Ken you say you expect a retracement on july beans. Are you thinking about530 ?
at 7:48:44 PM
That's it exactly, granpa!
optionsfirst asks:
Ken should a person enter rice now or wait for a pull-back
at 7:48:54 PM
Pull-back.
Bulldog asks:
Do the usual indicators for futures contracts (123, historic lows, channelling) have any relevance when trading options?
at 7:49:22 PM
Those formations can show you when options should become "cheap."
Eric in Fort Worth asks:
Regarding the question from ninofeo about Bellies, it looks like a nice top formation has developed at a pretty high price (based on the monthly chart). Are you not short because it's just not extreme enough, or is there something else? Thanks again!
at 7:49:53 PM
!
ML asks:
Are you using TOVI exclusively now for your personal option trading?
at 7:50:05 PM
Absolutely!
Nova Scotia Scott asks:
Any idea why energy nargins jumped again after the price has settled down??
at 7:50:45 PM
(Maybe the Exchanges know something we don't?) Typically, raising margins denotes volatility.
BJ LOCK asks:
BJ LOCK ,back from tour of "TOVI," WOW! It is awesome! I must call tomorrow. It sounds too good to be true. Taking all the work out of finding good options. I'm glad I'm back!
at 7:51:18 PM
I told you . . . . (Listen to me now, believe me later!)
Deane asks:
Am curious about the financial called LIBOR (1Mo). It appears that the chart performance pattern shows it at alltime highs -- since its inception in 1990. By definition, what is LIBOR? Thanks much! Great course and fascinating activity!!
at 7:52:36 PM
Good chart spotting, Deane! London Interbank Offer Rate (it's like our Fed Funds rate here on the other side of the Pond).
Stan from Illinois asks:
In your courses in the past you have mentioned that you have rarely had to do more than two rounds before the price moved in your favor. Do you still find this to be true or have you had to go longer??? If so, how many more rounds???? Thanks for the support and chats. Stan from Illinois
at 7:53:17 PM
Lately, Stan, I've had to generally go longer (even three and four rounds).
jesstartin asks:
Thanks for answering. We kept going up and down with the paper trading. We'd end up just a bit ahead of the game. We're (my sister and I) still confused about options. I guess we should get your GAB course and this tovi sounds good. Perhaps I need to read A Rich Man's secret for inspiration. I have the booklet here and I keep thinking I should order it and never do. Are the answers to my avoidance there? These chats are great by the way. I love it when people write about their successes and encourage newcomers to hang in there.
at 7:54:32 PM
Thanks Jesstartin. A Rich Man's Secret (my novel or Course) can absolutely help too.
Ninja asks:
Hey Ken, I'm about 2hrs south of Grants Pass and would like to visit your company when your there. What days to you visit the office? I've been to Four Star Books and talked with Dolores? Ran out of time for a tour and a visit to the traders lounge. Soon I hope. THANKS FOR EVERYTHING
at 7:56:35 PM
I'm a Ninja, too, Ninja --- you can't pin me down to a time and place (except for these Chats)! Are you in Redding (or do you drive faster than that!)?
snake9 asks:
reason i signed up for the course was because i had no plan in trading options. Example: I was long crude, with thousands of $$ profit, and with a dumb broker and my lack of trading, I lost nearly all of it. Thanx for a plan ken
at 7:57:00 PM
Great reason, snake9!
stagr asks:
If I am long term bullish in coffee and TOVI's says that coffee is bearish, how can I use this information? Can this help me time my long term call buying strategy?
at 7:58:21 PM
Check again, stagr. TOVI ranks Coffee as a market to be long (and currently in a neutral trend). Check out what TOVI says is the #1 market now!
dk asks:
Hi Ken. Thanks for these chats. About a month ago, before my May Coffee calls expired I started pricing Dec. call options. I bid less(but more than half) but haven't been filled and now the prices have gone up alot. What do you suggest? The same thing happened to me with Sugar and I ended up missing out because they took off. What should I do differently?
at 7:59:38 PM
Don't listen to your mind --- you likely WON'T miss it! Wait for those prices to come down!
kristen asks:
Since you believe there will be a 50% retracement in Soybeans, do you think that we should liquidate our calls now? I'm still not exactly sure about 50% retracements. Thank you!
at 8:00:43 PM
No, Kristen, long-term, Soybeans are going UP! Go over your charts every day and watch those 50% targets get hit over and over and over again. That's the surest way to learn.
QUICK REMINDER: Please remember to send me your GAB and TOVI comments at feedback@kroberts.com! I sure do appreciate them . . . .
Well that's it for another month. Here are my favorite web sites if you're interested: www.tovionline.com (new!!!) ; www.uschartco.com ; www.fourstarbooks.com. ; www.historictrees.org. ; www.billoreilly.com ; www.wildlifeimages.org; www.LP.org. My next chat will be Tuesday, May 6th. Also remember Matt's stock and commodity chat Tuesday, April 22nd. As always: Use these newfound powers only for Good. Good night!
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