Ken Roberts Chat

Let's Talk Trading (tm) with Ken Roberts
from May 11, 2004

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 Fuente OpusX fired up, here’s our plate of freshly baked oatmeal/raisin cookies, the coffee’s poured, so let’s 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.

Tovi Brothers asks:
G'Day Ken, Is this an exciting time for ENERGIES or what?

at 6:12:10 PM
G'Day to you Tovi Brothers! Yes! If you're trading the energies now, don't you wish gasoline prices would go to $6 a gallon?!

windwkr8014 asks:
Hi Ken, My name is Travis, from Pennsylvania. I just wanted to say that I've just begun with your courses but I'm very excited about everything I've read so far!

at 6:13:57 PM
Thanks, Travis, and welcome aboard! I understand your excitement about everything you've read so far, but just wait'll you get started learning this business!

Jim from Kalamazoo, MI asks:
Euro dollar moved a little recently, do you think the big move will happen now ?

at 6:15:04 PM
I have NO idea, Jim. TOVI's Minimum Time Recommendation helps alot, but ultimately you've just got to be in the market when IT decides to take off!

machotrader asks:
Redondo Beach, CA: Ken...in your last TOVI chat you mentioned that "TOVI's soon coming out with a WRITING OPTIONS module". Can you give us a better idea of when it will be ready for release? Are we talking Christmas 2004 or is it not that far along yet? Thanks.

at 6:18:44 PM
Machotrader, I think Santa's going to show up WAY early this year if your Christmas List includes TOVI's writing options module (in fact, THREE writing modules will be released)! So you better not pout, you better not cry, 'cause Santa Claus is on TOVI too!

Tigershark asks:
When will you share the special surprise information with the group?

at 6:20:29 PM
Good one, Tigershark! If you call a Course Counselor AFTER 8:30am Pacific Time any weekday and mention tonight's Chat, my complete Retirement Course is yours for only $77!

Frank asks:
Don't have a question, Ken. Just wanted to let you know that I took all of your Futures courses and watched the videos in 1997-1999. I've been averaging six-figures trading ever since. Keep up the good work! By the way, what manufacturer built your jet?

at 6:23:20 PM
Thanks Frank! You're doing great too . . . . Actually two manufacturers, Frank: Lear and Gulfstream (sounds like a great partnership, doesn't it). But before you get one of these beauties, take a ride on the TOVI jet . . . . (www.tovitour.com)

Rottie asks:
Hi Ken. How do you respond to all the websites saying your courses are too basic for long-term success in the markets? Thanks and keep up the good work!!!

at 6:23:57 PM
They should see my trading account . . . .

EDI_Guy asks:
Isn't it a bit curious you have to dig to the middle of the Money and Finance section of the Wall Street Journal to see what Gold did for the day? 12 years ago it was always listed on the front page of that section. I find it no accident it is downplayed and stays mostly in a channel while silver, palladium and platinum are "allowed" to trade freeier.

at 6:24:54 PM
Great observation, EDI_Guy. But I'm glad YOU'RE still watching it too!

clyde asks:
Hi Ken, I've played with futures options and the high cost seems too expensive compared to the outright buy and sell of the real futures contracts. any comments? Thanks Al

at 6:27:45 PM
Hello Al/clyde! First of all, perhaps FUTURES is better for YOU. It's strictly a personal preference based upon your temperament, trading style, budget, etc., etc. But do yourself a favor and at least TRY options. If you paper trade an options account on TOVI, I'll bet your eyes will open a little wider. Thanks.

anaitis asks:
Ken, A few questions where your input would be great! 1-Using TOVI and your charts online, would you apply the same strategies (for Futures - Moderate to Strong and Options trading) for an account of USD $10,000 versus an account of USD $50,000 or one of USD $100,000? 2-If no, could you please, give me some ideas as to how the strategies used for those 3 different account amounts would be different? 3-Would you do more options trading for a bigger account versus a smaller one? I am starting a small investment fund only because of the confidence that I am gaining with TOVI. Would love to have your input and advice.Thanks a lot Ken.

at 6:30:57 PM
First of all, anaitis, you're doing just right by gaining confidence with TOVI. Keep it up. Your first question will then answer itself. Personally, I trade a much, much larger account than you listed here and I trade BOTH futures and options (probably more futures). It's all up to YOU. That's one of the beauties of this business. Thanks.

On last week's TOVI Chat (see Chat Archives at www.tovionline.com), I spotted the top-rated EuroYen put (a May '05, 9975 put) for $200, with a Value Factor of OVER 4 (the highest I had ever seen). Today, that option is going for $237.50 and its Value Factor is 3.92. By the way, Open Interest last week was 50 and Volume was zero. Today, Open Interest is 99 and Volume was 12 (not that I pay attention to Open Interest and Volume, it's just interesting that that doubling in Open Interest was probably US!).

DAVE FROM OHIO asks:
DAVE FROM OHIO--HELLO KEN AND THE GANG.... KEN, FROM A LONG TERM TRADING VIEWPOINT WHAT METHOD DO YOU USE TO COST AVERAGE YOUR POSITIONS IN TRADING? eg. O.J. HAS EXCEEDED PREVIOUS ALL-TIME MONTHLY LOWS. THANKS FOR BEING THERE FOR ALL OF USE !!!!!!!!!!

at 6:37:55 PM
Thanks to TOVI, Dave, I no longer buy in so early that I have to wait out HUGE dips. In fact, I'm SHORT O.J. right now (and loving it) while I wait for O.J.'s turnaround when I will get long. Be aware also that TOVI's Budgeted Options feature helps you in the dollar-cost-averaging arena by making sure you have enough money to last through the waiting period.

LoboChuck asks:
LoboChuck here, Ken I have gotten a lot of the chats, I am a new member and I like to trade (futures) contracts and don't see much dedicated to futures contracts on the TOVI site. Just the bias relationship between Long/Short Term. Would you give a few pointers? Why don't you quote Sugar #14 (domestic)?

at 6:44:55 PM
Hi LoboChuck, and welcome! It's good to see new names here. Yes! TOVI's great for futures contracts too. For example, in Sugar, TOVI's Long-Term Rankings tell us that the longterm bias of Sugar is up and to give it a minimum of 25 months to make its big move. Current price is 6.29 and Sugar's DOWNside target is 7.17 (telling us how LOW sugar really is!!!! It has to move UP to hit its DOWNSIDE target!). TOVI also tells us that Sugar's Upside Target is 12.30 (that's the BIG move). Okay, but the light is red which means Sugar's Short-Term trend is DOWN. So I go to TOVI's Short-Term Rankings page and see that Sugar is in a Strong Downtrend (it just turned Strong today). So, like Orange Juice as I mentioned earlier, I'll trade Sugar SHORT while I wait for the turnaround and BIG move up. What a difference TOVI makes! (Before TOVI, I would already be long Sugar, waiting with a loss, and frustrated . . . .)

David asks:
Hi Ken. David from Houston (formerly Krispy Kreme). I have noticed that many people who join the chats,have at some time been out of the trading game, but like myself, are like homing pigeons: We always manage to find our way home. This time I'm really excited about TOVI and especially excited about my wife taking an active roll in learning commodities. Q: on the "Friends I Never Met" painting, why is Clement Watt the only one not holding a Cigar? Thanks again for the lessons.

at 6:48:40 PM
Why'd you lose the Krispy Kreme handle? Glad you're back (where you belong), and I'm glad your wife's on board with us too. (It sure makes trading a lot more fun . . . .) Clement, as you know, is a great cigar smoker, but I guess he doesn't like holding it while he shoots pool. I wonder where he's holding it . . . .

traderglenn asks:
Thank you for allowing TOVI to be affordable for those of us working to provide for our families. When will the US Charts be priced monthly? I'm new to TOVI, and am learning to use this fantastic tool.

at 6:51:05 PM
Thank YOU, traderglenn. I'm delighted you're a TOVI fan too. Yes, U.S. Charts will offer a monthly subscription too (very soon now). As you know, we just a major rework and additions to U.S. Charts, so that's taken all our attention lately.

ready2win asks:
Hi Ken. Just received your book A Rich Man's Secret along with Ted Warren's book. I am only up to chapeter 6, but it is awesome! I look forward to the course deal you mentioned in your recent email. Thanks for everything

at 6:51:50 PM
Thanks ready2win! Sounds like you've taken The Next Step.

Michael asks:
My partner and I have been in coffee options for over two years. We're 'in the market' so we're right. Right? Our options are expiring in June. Coffee hasn't perked for us yet. What advise, besides "stay in the market" would you offer us? Coffee options are higher than we usually like to pay. We're checking on 'what cheap is for our next round. We'll have to buy another round within the next 20 days or so. What sez ye my friend. Thanks Ken. Michael in Morristown.

at 6:54:08 PM
Okay, Michael, I won't say "Stay in the market," but I will give you this advice: DON'T GET OUT!!! Use TOVI's Budgeted Options feature and just plug in your budget and 18 months. That's my best advice. Thanks!

Ron from Alaska asks:
Ken: I am short 1 CRB contract at 280 with a target of 244. (because my chart says this is good and I believe in my chart.) Question: What is the CRB? Thanks, Ron.

at 6:58:34 PM
Good one, Ron. (See, everyone, you really do NOT need to even see a label on any price chart to trade it. But Ron KNOWS what that chart will do . . . .) The CRB is a basket of 17 commodities (heavily weighted towards the grains, metals, and energies). I believe it was devised to be an inflation indicator. It's an INDEX, though, and that means that the underlying commodity is CASH. It's just a pot full of money.

Mountain Man asks:
Evening Ken, What about the cattle markets? Is there a top any where? I had (HAD) a 98 Call for feeder in June. It touched it's 50% level one day with about 25 days to go, so I bailed. Broke even on the price but lost with the commission. Now it's hovering around $3K. Mistake? or just a bad break? (I know I'm not supposed to look back)

at 7:01:10 PM
I think you did just right, Mountain Man. Sounds to me like you followed your plan (and stuck with it). Too bad that option ran out of time, and the only advice I can offer is to start shopping for a new option when your current option(s) gets 30 days from expiring. It's a good lesson that will pay off many times over in your future trading. (How do you like TOVI?)

craneslanding asks:
Hi Ken: Craneslanding from Washington. I have been paper trading for about 6 months and doing OK, however, it seems that my options are 6 to 8 months out and it seems forever to get results. I know paper trading is valuable, but at what point do you see actual trading.

at 7:03:28 PM
Here's when, craneslanding: When you're saying "I'm tired of being right and not making any money on it" a lot. As far as "it seems forever to get results," stay with it: When one of your market's takes off, you'll know why we do what we do!

richman asks:
Hi Ken you know I'm a TOVI fan, but like you I've been buying up those far away coffee calls. I think the times fast approaching when coffee explodes upwards! Your opinion? (drink up)

at 7:04:27 PM
(Wait, let me take a sip of my coffee here . . . .) Yes, richman, but what I think never mattered much to the markets! All I know is, I'll be there. Thanks.

nic asks:
Hi Ken, We have been paper trading since Nov 03 with little to some success but since joining TOVI our success has been doubled!! I believe in forming a plan and sticking to it but I wonder, do you have a daily plan that you work out nightly or a monthly plan that you stick to no matter what? Thanks , Nic

at 7:05:37 PM
Great question, Nic. I have a plan in mind BEFORE I place the trade --- entry AND exit. Thanks!

WARDOG asks:
Good evening Ken, I am able to watch the markets during the day. Do I still need to use stops?

at 7:07:26 PM
I'd have SOMETHING to back me up, Wardog: maybe your broker?

hambone asks:
Has TOVI improved your win percentage in the marke? How much? Hambone, San Juan, Puerto Rico.

at 7:08:45 PM
I don't have specific figures, hambone, but TOVI has boosted my trading A LOT. (Knaw on that, hambone!)

Make that "GNAW" . . . .

Doc asks:
Ref: the Greatest American Business - I use what you teach in this course and applie the same principles to equity options, seems to be working quite well. Do you have any courses for equity trading?

at 7:10:37 PM
(Sorry, that last question is still gnawing at me . . . .) Yes, Doc! Call FOUR STAR BOOKS and get a copy of Ted Warren's How To Make The Stock Market Make Money For You. You'll absolutely love this . . . .

Tovi Brothers asks:
G'Day Ken, just got back from a day trip to Lake Tahoe where I paid $2.56 a gallon for gas.......roll on $6 a gallon!!! Thank you and the team for all you do. Appreciate ya!

at 7:10:57 PM
!

EricInHimejiJapan asks:
Vacations seem to be good for my trading. It seems every time I go on vacation, the market I am in at the time seems to really go my way. Example, I just had a week off and just before I left for a trip, the Candadian Dollar Puts I purchased started making more money. Love it! And TOVI still says CD is in an extreme downtrend short term. Since I started trading with TOVI a couple months ago, my account has multiplied itself just about four-fold, even taking into account a couple thousand dollars of losses (part of the game). Thanks for everything!

at 7:13:53 PM
Thank YOU, Eric! Yes, I know what you mean. I think it's because we're not putting any nervous energy into the atmosphere when we're on vacation . . . . Also notice that if you want your food to arrive at a restaurant, just go out and have a smoke! That'll do it every time. Congratulations on your trading.

Adam asks:
Hello, I got into put options with Australian Dollar and Canadian Dollar when TOVI long term rankings were green and the charts showed potential for movement on the down side. Now TOVI's long term rankings for both of these markets is yellow but the daily charts still show room for movement on the down side. Both of these options are now profitable. Would it be wise to liquidate the put options taking good profit or would it be wiser to stay in as long as the charts show more potential down side. Thanks for your advise.

at 7:17:26 PM
This is why I have my exit strategy in mind BEFORE I trade, Adam! I really can't recommend an exit strategy for you because it's just so personal. Some people use TOVI's ratings as exit signals, some use chart points, and others use percentage loss or gain in the options price. Consider those three and see which rings a bell in your mind. Thanks for joining us this evening.

Cliff asks:
$77 is less than I put in my IRA weekly and to be sure it is worth much more than my monthly IRA contibution can't wait to get your Retirement Course- according to the monthly and weekly charts I see that corn will go up and soybean will go down - do you see the same thing?

at 7:23:26 PM
Basically I see the same thing, Cliff, but now that I have TOVI, I watch TOVI's Short-Term Rankings and stay with the trend. I get A LOT more trading activity this way. Thanks!

billc asks:
think bellies are high enough yet??

at 7:24:38 PM
All-time highs are something else, aren't they, billc? (And TOVI says they're still in an Extreme uptrend.) This is what makes commodities so exciting. Thanks.

Ron from Alaska asks:
Ken: Bellies are currently higher than their monthly chart all time highs. Normally, I would be anxious to partake in the retracement that must follow this move to extreme highs and I would be shorting at intervals from here to the top. In this market, I have a problem with the large difference between the near months and the far months. May is 122 and March of 05 is at 90. My 50% level is around 100. If the Bellies stay like this past the end of August, I may find myself rolling to a spot where I am both in the red and also below my exit target. On top of that, the other approach,options, are outrageously overpriced. What are your thoughts on this market at this time and/or this situation in general? I greatly appreciate any comments you might share. Thanks! Ron

at 7:26:43 PM
If you're trading futures only, Ron, I'd stick with TOVI's Active Futures Month of July '04 and trade Bellies short-term. Great observation. Thanks!

Ninja asks:
Hi Ken and crew Ken you mentioned you follow the front month since it is the driver. I was looking at the Eurodollar charts and the big moves are taking place farther out while the "front month" has very little price action. How should one approach and trade this market? thanks for all the help!

at 7:30:18 PM
If futures, Ninja, use TOVI's Active Futures Month and trade short- or long-term. If using options, I'd stick with TOVI's pick(s) for your budget and timeframe. Thanks.

CW asks:
Hey Ken, What an unbelieveable all time low on OJ. Would love to see it "bust a grove" right now. Soybean has great potential. Trading options on this one and would love to see the bottom drop. Thanks for making me a believer. CW

at 7:34:10 PM
Yes, don't you love all these history making highs and lows?!

laulinaharris asks:
Hi Ken, from Corvallis OR. Finally got running on the interactive charts today. What a very cool tool! Great time saver! Thank you

at 7:34:52 PM
Thanks for mentioning it, laulinaharris! We're always trying to get better and better (and wait'll you see what's coming . . . .).

KRIS asks:
Hi Ken & Gang: I have tried using TOVI to trade the currencies and have lost the most doing so. Do you think the currencies are the hardest to trade using TOVI?

at 7:37:01 PM
No, Kris, I love all their price movement. Try another strategy (like the first day a market goes from Moderate to Strong on the Short-Term Rankings page). Try it; I think you'll like it!

noel asks:
Ken, can one of your councelors coach us what to do step-by-step in order to start trading? i am totally lost and nervous to start with, but I want to start doing it!

at 7:38:22 PM
Absolutely, noel. That's why they're here! They LIVE to help you get started! Glad you joined us (and also study the Chat Archives). We all were nervous at first in this business. You're in good company.

viatovi asks:
Hi Ken and Team. Help!!!! Please tell me why the Grains are going belly-up as soon I get into the picture? Not only the grains but Jap.Yen, Nasdaq, Sugar. Thanks, any help is greatly appreciated.

at 7:39:02 PM
So YOU'RE the one who messed everything up, huh? Welcome to trading, viatovi!

The Jack of Trades in Fayetteville, GA asks:
Hey Ken: TOVI is a stroke of genius!!! I'm flat fired up about all the features, tutorials, etc. Used the Long-Term Rankings for Eurodollars, got the green circle along with the "moderate to strong" deal, and opened a position...now it looks like the bottom is falling out on the Euros, as TOVI indicated, and as I hoped! Just wanna say thank you for making all this stuff available.

at 7:39:47 PM
Thank YOU, Jack of Trades. You da man!

Tigger_T_Bounce asks:
Hi Ken & Co. When TOVI's short term DTCP changes direction, and if one bought black coded options in that market, should one take the options off the trade immediately or do you recommend waiting for the black option to change to red ?

at 7:42:39 PM
Thanks Tigger! This is an EXIT question. The answer to your question depends upon what EXIT strategy you're using. Personally, I don't like to wait for the DTCP to get hit; usually that's too much of a loss in my book. I also don't exit a market just because my option turns red; I REPLACE it and stick to my master plan.

billc asks:
im seeing a 1 2 3 top in bean oil.or am i seeing things?

at 7:43:48 PM
Yes you are, billc, but try this: Let TOVI COMFIRM Bean Oil's 1-2-3 top for you! Try it; you'll love it!

TreeManMaine asks:
Portland, ME: Hi Ken, Five years of 'education through patience' in low, sluggish markets, and now... WOW! Been lonnng futures in beans (2), rice (6), b-oil (2), canada (2), cotton (2) futures for quite awhile and have taken large profits with many contracts still going... Also, learned (the hard way) after shorting cattle for proift a year ago (with calls for protection), that "short, no call" can really nail you. Had to bail on 9 contracts in Oct when it went through the roof. A $50,000 lesson I'm glad I'll learn only once. Still, profits are growing again. I'd never have done this without your encouragement and enthusiasm. Thanks! P.S: Love TOVI!

at 7:45:24 PM
Thank YOU, TreeManMaine. You've helped a lot of people this evening. What a great attitude you have.

pjjh asks:
Ken, This is an exciting new thing you're doing (TOVI). I started a business and put options on the back burner. Now I'm raring to go again. Do you still use your charts? I like using the charts but this look great as well. Do you use both?

at 7:46:11 PM
Yes, I use both, pjjh. (And you won't believe this, but it's true: I use U.S. Charts' ONLINE charts now . . . .)

CW asks:
Hey Ken, My husband and I are trading together, and of course, we don't always agree. I'm more conservative in the fact that I want my funds to go farther, and shop for the farthest out months, however; he doesn't mind paying pennies and shopping closer to the front month. Would you dare to settle a "little" disagreement, or would you rather play it safe? Promise not to pout. CW

at 7:47:14 PM
Let TOVI be your referee!

NICKDOGS asks:
Ken, If you want to trade options of six months or less, would you only use the short-term rankings trend? Or do you go by the long-term bias when it's green?

at 7:49:00 PM
Trades based on TOVI's Short-Term Rankings should always be given 6 months, Nickdogs. If I trade TOVI's Long-Term Rankings, I give it TOVI's Minimum Time Recommendation. Hope this helps. Thanks.

cindy asks:
Hi Ken, I would like to share a recent trade. I used tovi along with my charts and bought a May0482 put option on 1/23/04. I paid $1800, bellies had just turned down from moderate to strong on the short term market rankings. Then 2 days later they turned to neutral and now is skyrocketing to new highs. My option just expired worthless. I didn't get out when the option turned red because I thought bellies were wild and would turn the other way. I would have a loss of only $400 if I had listened to Tovi!

at 7:50:58 PM
Thanks, Cindy. Sorry you learned the hard way, but I promise, this lesson will pay off many times over in the future. Stay with it!

Adam asks:
Hello, Back a few years ago you use to trade futures without using stops. I know your account has enough cash to do this. Do you still use this strategy with TOVI when you trade futures? My account is much smaller than yours, so I find that using options gives me a little more time for the market to go the direction that TOVI recommends and the charts support. When I traded futures I would get stoped out to soon. But to place my stops any closer would have been bad money management for the size of account I'm trading. So, does it make sense for me to stay with options so I can ride out the ups and downs of the daily price fluctuations? Thanks

at 7:52:48 PM
Absolutely, Adam!!! This is exactly why I'm so excited about options now --- they're the GREAT EQUALIZER and allow you to do what Warren Buffet does! Congratulations!

Beth in New Mexico asks:
I finally made a little money in sugar futures. I now have euro puts hope to make a little more. I kind of like options since I always seem to get stopped out in futures. My question to you is should I be looking for OJ options since it is so low or wait for a formation?

at 7:58:43 PM
Great question, Beth. You're exactly right about options (see last question). I like your contrarian thinking re: O.J., but here's the deal: You don't want to begin buying calls now unless you can keep doing so however long it takes O.J. to finally turn around. Yes, the calls will be cheaper and cheaper now (as O.J. drops), but what if it takes 12 months for O.J. to turn around? Can you keep on buying calls that long? Another way to look at this is to wait for TOVI to tell you that O.J. has turned around and is in an uptrend. The calls won't be as cheap at this point as they may be now, but then again, you didn't have to keep buying and waiting . . . . Also realize that when TOVI calls O.J.'s uptrend, the whole world does NOT know this (and it doesn't look like an uptrend on a chart either). Paper trade both methods and see which you prefer. Thanks!

trwtrader asks:
Ken, Just wanted to let you know that I am a Tovi believer. Since March of 2004 I have paper traded 1 futures contracts in Bellies, Lumber, Rice, Aussie Dollar and Corn using TOVI's recommendation to get in on the first day of a moderate to strong rating in the beginning of a trend. To date, my paper trading accout is just over 30K. Looking forward to trading real money the when TOVI gives me the green light for both short and long term trading. Thank you!!!!!

at 7:59:30 PM
Thank YOU, trwtrader! (Are you seeing this Beth?)

OhioOSSA asks:
Hi Ken, first time chatter, long time archiver. Learning to trust TOVI has really paid off. I'm still riding feeder cattle calls bought at .80 but getting nervous about an exit strategy. Would you jump when they turn from Extreme to Strong or wait until they went to Moderate?

at 8:01:19 PM
That seems to be the theme this evening, OhioOSSA: EXIT STRATEGIES! I don't know which will work best for you, but you know what I say: You can't lose money taking profits . . . . Thanks for joining us!

hawaiiansun asks:
Aloha Ken, Where can I find prices for all the different commodities futures contracts and even with mini-contracts as well? I used to have a copy of these but can't seem to find it and I was curious on prices on several different markets. John

at 8:02:20 PM
Check out U.S. Charts Online, hawaiiansun. In the legend of each market, it tells you whether there's a mini contract or not. Thanks!

Eugene_Robert asks:
I don't have enough to open an account to trade full contracts. But I hear that I can get started with options without having to have as much money. Is that true?

at 8:04:17 PM
Yes, Robert, you can open an options trading account for much less money than for trading futures contracts. Also realize that the brokerage you're opening an account with is at no risk if you're buying options only (they are at risk if you're trading futures contracts). Great question. Thanks!

KRIS asks:
Just want to thank you, Ken, for the gift of TOVI! I really could not trade without it. My account has tripled since January 2004. That is better than I have ever done with any other strategy. Thank you!

at 8:04:42 PM
Thanks Kris! Congratulations.

pma asks:
Ken; Would just like to ask how do you get started to build the confidence to do what you do. "Where, how, what, and when. Thanks pma

at 8:05:08 PM
Paper trade, pma!

talkinturkey asks:
I learned a big lesson about playing it too tight with my stop. Went short Canadian Dollar, put my stop loss at $500, was stopped out about 5 days later in a little turbulence and then it went the way I thought it would. Maybe something to share.

at 8:05:43 PM
Great lesson, talkinturkey. (One we all had to learn at one time or another.) Thanks!

Fairport Newbie asks:
I am a neophyte to paper trading and am feeling a little overwhelmed. I have read TWMPMM I & II but still feel like I can’t get a handle on chart reading yet. I want to be better at reading charts before I try TOVI. Does that make sense?

at 8:06:45 PM
Sure, Fairport. Call a Course Counselor. Watch ALL your charts everyday and see them make formations, break out of formations, and hit those 50% targets over and over and over. Nothing makes you a believer like that! Thanks!

George asks:
Hello Ken & gang, ever since I got involved with the KRC years ago, I've received what was promised and more. Remember saying "trust me know, believe later"? My question is regarding the new/old course on retirement you're offering, is it for everyone or just for heavy hitters with mucha mula? Thank you!

at 8:07:46 PM
Hi George! It's for everyone! Thanks.

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 politically). My next chat will be Tuesday, June 8th (The next TOVI Chat is Tuesday, June 1st!). As always: Use these newfound powers only for Good. Good night, God bless, and watch where you step!

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