Ken Roberts Chat

Let's Talk Trading (tm) with Ken Roberts
from August 16, 2005

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 Zino Robusto fired up, heres our platter of a Krista's freshly baked Over-the-top chocolate chip cookies, the coffees (Cafe Altura, of course!) 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.

Patrick D. asks:
Ken, when watching a market that you are "in"... do you watch primarily the front month or the month that you have your option in?

at 6:12:29 PM
Hello Patrick! I USED to watch the front month (because that USED to be the contract month used to update Weekly and Monthly charts), but that's changed the past few years. Now the Active Futures Month (the contract month typically with the highest Open Interest) is used to update Weekly and Monthly charts, so that's the contract I watch --- the ACTIVE futures month. I call it the "driver" . . . .

ron in canada asks:
Ken thanks for the opportunity to see your new trading machine. I would like to get one of those some day. You mention in one of your brochures that you send out that you have sold the mansion on the lake and now live in a renovated farm house. How's about posting a couple of pictures of your new and old abodes. thanks for all you have done.

at 6:16:03 PM
Ron, have you been peeking? Just TODAY Steve and Gregg were up at the ole Farmhouse filming the orchard, the house, the out-buildings, the grounds, etc., so you'll be seeing those soon (at a theatre near you! --- no, not really) on the website.

michel asks:
To do 50% retracements do i use the daily, weekly, monthly or do i make an average of all of this?

at 6:18:07 PM
Hello, and welcome, Michel!

Each individual chart --- Active Futures Month, Weekly, and Monthly --- has its OWN unique 50% levels. Sometimes these coincide, but that occurs simply because two or three of these charts may be showing the same time period. Do NOT average; take each chart individually!

goooofy asks:
Hey Ken, What's up with the hat?

at 6:19:03 PM
Funny you should ask, goooofy! I just had Scott (our world-renowned graphic artist) work up this tidbit on my "famous" hat . . . .

Spencer from Utah asks:
Ken, I'm back. Joined about 5 years ago. Made some quick money. Turned $5500 into $18,000 in about 3 months (Coffee). Kept taking money out to live on, (Unemployed at the time) market turned down and I had to close my account. I'm back and looking forward to using TOVI. This time I will keep the money in for a longer time. Question, should you keep starting over with $5k or grow a larger account? Your accounts are pretty big, so you trade a little different. When or where is the point of changing your trading strategy with a larger account?

at 6:26:43 PM
(You and Arnold, Spencer . . . . Glad you're baaaaaack!)

I think you'll find that as your account grows, you'll simply trade more contracts, but your strategies will essentially be the same.

And YES! I know you'll love TOVI! One note of caution: Don't be overwhelmed at first. Just focus initially on TOVI's powerful option-search function (rating each option individually) AND TOVI's fantastic ability to turn any option RED when that option is experiencing too rapid a time decay. These two features ALONE are worth many times TOVI's small subscription price. But get your FREE two-week trial in first to see what I mean! [http://www.tovionline.com/]

You're in for a true treat Spencer . . . .

Roy asks:
Hi Ken (and Jim) This is Roy from Garberville, CA. I was at your last trading camp and as promised I am here on the chat tonight. You guys did an outstanding job with the trading camp. I have doubled my portfolio since attending. Thanks for all you guys do. You're the best!

at 6:29:18 PM
Thanks Roy (and how did you like that special, V.I.P. tour of the Ken Roberts Meeting Hall????) --- In fact, Roy, right now I'm sitting at your desk! Here, let me post pictures of the Trading Camp you attended. (Big Jim says "Hey!")

KC asks:
How do you know when you can go from paper trading to real trading?

at 6:31:13 PM
Oh, KC, I'm so glad someone asked this tonight! You can go from paper trading to real-money trading when you find yourself saying "I'm tired of being right and not making any money on it!" a LOT . . . . (Great question, KC!)

daddio asks:
I've been paper trading for awhile now but with no results. I pick options with a lot of time but way out of the money. Is that the way its done?

at 6:34:37 PM
If you're not using TOVI (which I strongly suggest you try!), use the "Rule of 3s": Purchase options with at least 3 months, 3 strike prices out, and if it loses $300, liquidate it . . . . Let us know how you like this method! Thanks daddio!

Mike in NYC asks:
Hi Ken from Mike in New York City: Became a full-time trader in May. Passed my Series 3 Commodity exam a few weeks ago. I have found I can do my "Trading Research" in the evenings, and can pursue my dream of having my brokerage firm in the Empire State Building during the day. My question is this: Once you became a successful full-time trader, did you ask yourself "what do I do with the rest of my day?" It doesn't take me 40-hrs/week like my old Day Job did. Is this why you formed The Ken Roberts Company - to have something else to do? Thanks for your advice.

at 6:38:35 PM
Great "problem" you've got there, Mike!

Actually I formed The Ken Roberts Company WHILE I was trading, and then it blossomed into something HUGE. Ask Krista what I do with the rest of my day (and she'll say something like "He drives me crazy!") . . . .

Pursue what you love, Mike! That's what we do in the Ultimate Technique for Success Course --- it's fantastic!

(Say "Hello!" to The Donald for me . . . .)

DEJ asks:
Where can a person get information about the "classification" of whether or not they are considered a "full time trader" or just an "investor" or "speculator" and what are the tax conseuqences of each? I am not yet in the market with real money and simply want to research this. Thanks

at 6:41:34 PM
Yes, DEJ! Just go to www.fourstarbooks.com and look up The New Trader's Tax Solution. It's the best book we've found on precisely what you're asking.

davedertina asks:
This is my first time on the chat room. I was expecting to hear some chatting. I don't hear any voices. Am I not doing this right?

at 6:41:57 PM
Can you hear me now, davedertina?

Tim asks:
Hi Ken! Tim from Sarasota FL. here. I have a question about exit strategy. Let me say first that I've been trading just a few months. Back in April I purchased Lean Hogs on a put and watched it go up and down. Wellll I jumped when it hit $800 (double my investment), then watched it tumble down and I left a bunch of $$ on the table. Now I purchased a Lumber put for September, and I'm thrilled to be up over 300%. I plan to use TOVI and sell when I see a change in momentum, and hopefully see the chart formation also. The option expires 8/31. How close to that date should you get without risking the option perhaps expiring prior to liquidation?

at 6:43:34 PM
Since you're (wisely) using TOVI, Tim, I'd feel comfortable keeping that option until TOVI turns it RED (unless, of course, your EXIT point is hit). TOVI on!

Smokin Joe asks:
Hi Ken, I bought a March Cocoa 1450 put option on the first day it went from moderate to strong, according to Tovi trend tracker. The premium was 88 pts. It's now 127 pts. Is it correct to stay in the market since I still have so much time before the option expires and it's still a strong down trend?

at 6:45:04 PM
Yes, Smokin Joe, but what was your EXIT strategy BEFORE you entered this trade?????? Not having an EXIT strategy set up beforehand leads us to trading by emotion (which always results in disappointing consequences) . . . .

cokerld asks:
Coker D. Seguin, TX asks: Ken, I am an older course member, would ask which of your books would best describe successful options trading, buying, purchasing, selling ect.?

at 6:50:24 PM
How old are you, cokerld? (You can't be older than me!) That's easy! Just go to www.kenroberts.com, take the Free Tour, then get my World's Greatest Business handbook --- all online! You won't believe what we can do online now --- and wait'll you receive one of my "It Just Happened!" emails --- all instantaneously now! Welcome back aboard!

Rex Hood asks:
Ken, Is there a "2nd wind" that comes with study? So that, one feels a little more comfortable with paper trading? Rex

at 6:51:08 PM
Great metaphor, Rex! Yes there is --- keep going!

Ed asks:
Ed in Windsor, Ontario Hi everyone. In the book "The Trading Rule That Can Make You Rich", the author says to place your protective stop at the 66% level on a "close-only basis". What is meant by a "close-only basis", and how would you place such an order with a broker? Love the chats.

at 6:53:05 PM
Hello Ed! "Close-only" means that market has to CLOSE at or beyond the price you stipulate --- not just trade there awhile and then continue on out of that range. You place such an order simply by telling your broker to place it!

mallegjrm asks:
Mallegjrm in Milwaukee Hi Ken, I am watching sugar and am somewhat new to the commodities game. What are your thoughts. I also just read Jim Rogers book on commodities. He seems to focus on fundamentals whereas you focus on technicals. Comments? Thanx Jeff

at 6:55:24 PM
I know he does, mallegjrm, and I don't know why!!! I've spoken of this on several occasions in these monthly Chats --- go to the past archives and use your "Find" feature under "Edit" on your menu bar to search for "Jim Rogers" to read these.

Just look how low sugar is on its monthly chart . . . I LOVE sugar!

bill asks:
When is your next seminar?

at 6:56:39 PM
Hi Bill! Please call a Course Counselor to check availability for upcoming Trading Camps. Thanks!

Bobby asks:
Are paper charts available from US Charts or are they available on line only?

at 6:58:04 PM
Both, Bobby! We've got the best of BOTH worlds!

Texas TOVI asks:
Ken, At one point in your WGB I used levels on my monthly chart is that something you still employ with your trade decisions or is it strictly TOVI and the 50% retracements ?

at 7:02:10 PM
Hi Texas TOVI! TOVI factors Levels into its computations now (see Value Band Charts), and you can now read all that the originator of levels (Burton Pugh --- he called them "zones") had to say about them: Go to www.fourstarbooks.com and see A Better Way to Make Money. You'll love this book!

michel asks:
9- When I pyramid a contract, do I have to include the margin and the maint or only the margin? And what is reimburse?

at 7:03:54 PM
Just the margin, michel ("Maintenance" is the dollar amount that your Margin deposit cannot fall below). I'm not clear what your question is about "reimburse" . . . .

Mickeyite asks:
Hi Ken. Mickeyite in Salem here. I've missed the last couple of chats (live), but keep up through the archives. I just wanted you to know how much I appreciate these chats. It is very inspiring to see you back up your product by giving us your time and advice through this chat and all of the "It Just Happened" emails and the weekly updates. I'm looking good in crude oil and coffee. Corn and oats are tough to get a handle on, but practice, practice through paper trading is of the utmost importance...even at the same time as trading real money.

at 7:04:52 PM
Right on, Mickeyite! (And thank you . . . .) Glad you're back here with us "live" this evening!

teee asks:
hi ken im one of your new course members. and I would like to know where to get started.

at 7:05:53 PM
Hi teee, and welcome! Sign in at www.kenroberts.com and download the "GetGoing!" pdf. Then just follow the steps . . . . (And, of course, stay in touch!)

Mickeyite asks:
Mickeyite in Salem here again. I agree with you Ken on your advice to Spencer. My plan is to turn $5k into $10k, then $10k into $20k, etc., simply by buying 2 contracts the 2nd time around, 4 the next and so on, while sticking with the same basic strategies.

at 7:06:29 PM
(Did you get that, Spencer?!) Thanks again Mickeyite!

ready2win asks:
Ken, I am just making sure I am following. Where Spencer talks about the market turning down. If I am understanding your teaching on commodities, you can make money either in an up market or down market, right? Maybe I am confusing the verbage. Thanks again!

at 7:07:22 PM
You're not, ready2win: We CAN make money on rising AND declining markets in commodities!

KC asks:
KC from San Francisco I'm back also after late 9O's and trying to think in options instead of futures. Are you looking for calls when the market is uptrending and puts when it is down trending? Or vice versa or both?

at 7:09:07 PM
Here's a memory aid, KC: Calls are UP and Puts are DOWN. (Remember in high school when you asked the Homecoming Queen out on a date? You CALLed her up; she PUT you down . . . .)

Strong John asks:
Hi, Ken and friends. I hope I can get through to you tonight -- I've missed out the last couple of times I tried! On the United Charts TT, What is the usage and meaning of the column headed Dynamic Trend Change? This past month, I bought a call option in Dec oats @180 which it just touched but then fell back so I had a slight loss before liquidating. But I'll try again -- maybe with a put option since TOVI has just turned oats red. Thanks for your help. I saw you last year or so when you were last in Philly. Remember?????????????

at 7:18:09 PM
Hi John! My Philadelphia Bootcamp was at the top of a skyscraper (and my Learjet pilot Peter was there too . . . . Then he confessed to all of us that he had a fear of heights . . . !) Was that the one?

If a market is in an uptrend, its Dynamic Trend Change Point is the price that market must DROP to at which its trend will change from UP to down. If this isn't clear, check out TOVI's Tutorial . . . .

Don't you LOVE TOVI?!

tenneseeDC asks:
Hey Ken. Have you ever considered designating which contract month is the active futures month on the "Quick Quote" section of the US CHarts on line? It would make updating those wonderful paper charts (which DO actually smell like money!) a lot easier each day. Thanks much.

at 7:20:14 PM
Yes, tenneseeDC! That feature will be on US Charts online in early to mid-2006 --- it's on our team of programmers' loooooong list! (In the meantime, I check TOVI's Trend Tracker.)

rich asks:
Rich from Philadelphia, Hi Ken I'm an old Course Member from about 10 yrs ago and decided to get back in & do something exciting in my life. I rejoined about 2 weeks ago and realized that I should have stuck with it but I guess the fear got to me so, I'm back in. Thanks for all your help.

at 7:21:00 PM
Welcome back aboard, rich! Don't worry about "lost time" --- there's no such thing! The markets are even better now than they were 10 years ago, so your timing is perfect!

trwtrader asks:
Ken, I have 4 call options in Corn that went south and are almost worthless right now. I should have sold them when they lost 50% of their value but didn't. Corn was low for so long that I assumed it would have kept going up. They may come back, they may not. Regardless, I learned a valuable lesson with real money about sticking with an exit strategy and just wanted to share my losses with everyone and let them know that you need to stick with your exit strategy and follow the charts, not your emotions! A minor setback that I will recover from. Thank you for all your support.

at 7:21:58 PM
Great insights, and great advice, trwtrader! Thank you! (Did you get this, everyone?!)

Bubbles asks:
Austwell, [on the Gulf Coast], TX I need baby-steps for "paper-trading", PLEASE, KEN!! Great-grannie here, age 73+

at 7:23:10 PM
Hello Bubbles, and welcome! Call my Course Counselors WHENEVER you need help --- that's why they're here (and they are terrific)! And please: Stay in touch!

Sisu asks:
Ken, I am a fan of yours! What do you watch for in fundamental analysis? Please tell me how you view futures on the big global picture. How do you diversify your portfolio?

at 7:23:57 PM
I have just one answer to your question, Sisu: I READ MY CHARTS --- and that's all!

OPIPbrad asks:
Hi Ken, I have been purchasing euroyen options for five years and counting. I've seen more expirations than an undertaker! I love good cigars and trading futures and options. But as the years tick by, the need to keep a full compliment of put options is really cutting in on my ability to do much other trading or cut the end off a good Cohiba too! Do you still have your euroyen contracts? Thanks Ken

at 7:25:44 PM
I'm with you, OPIPbrad! Yes, I'm STILL short the Euroyen (how many years has it been now?)! (I used to work for an undertaker after I graduated high school, and I know exactly what you mean!)

osborn asks:
Hi Ken E Osborn here in Hiawassee Ga. My first night to get in on the chat. Can you use tovi to trade futures as well as options? Do you use tovi to trade futures? Thanks

at 7:27:01 PM
Yes you can (and I do!), osborn. Try paper trading TOVI's two posted Futures Strategies to get started!

Cathy from San Diego asks:
Hi Ken and Gang, When calulating the 50% on the weekly chart, how many years do you go back? e.g. SEPT OJ.. 1996, 1998, 2005 as a high? What about the monthly chart as well. Thanks, Cathy

at 7:30:42 PM
Hi Cathy! (I'm going to post some pictures of the Trading Camp you attended back in June --- can you find yourself in these?). Here's my one, simple rule for computing 50% Retracement levels: Use the two price points on any chart that give you the GREATEST 50% Retracement level! For example, on Weekly Orange Juice, use the low in 2004 at 54 and the high this year of 106 to get a 50% Retracment level of 80 . . . .

rocketman asks:
Ken do you still use the methods you teach in the TWMPMM manual.

at 7:35:32 PM
Yes, rocketman, except that now I get you started with options first!

Bobby asks:
Im just getting back into trading after an almost 5 year away. I'm in the military and have been on active duty since 911, in and out of the country. What do you think is the best way to resume?

at 7:38:12 PM
Hello Bobby --- and thank you for your heroic service to us all!!! Call my Course Counselors and let any of them help you get back up to speed! And welcome back, Bobby! (541-955-2700)

Strong John asks:
I like your "Rule of 3's." That would probably be a good starting point to use -- especially in my "Apprentiship Paper Trading"!

at 7:38:32 PM
Yes, try it, John --- and stay in touch!

mike b asks:
Heyya Ken, I am a repeat customer too. A lot of changes, do you no longer have the paper charts available?

at 7:38:58 PM
Oh yes, I'll ALWAYS have these paper charts! Welcome back, Mike!

Ensenada Tom asks:
Ken: I may have mis-read, but it appears you're rather fond of TOVI. ;) But does it replace charts and entry and exit strategies?

at 7:39:45 PM
Not at all, Ensenada Tom --- they work together! Glad you joined us this evening!

Tim asks:
Tim in Ohio asks: Hi Ken, It's very tempting to be a contrarian and buy some puts in oil and copper, is this reckless or insurance?

at 7:40:52 PM
It's insurance if you're LONG oil and copper, and it's truly contrarian if you're not. It's not reckless if you have a plan . . . . Good one, Tim!

Mickeyite asks:
Hi Ken. I've been asking about a new video workshop (I have the first set of 6 tapes, and they are very good for those of us that can't afford the live workshops yet). The sneak preview you just posted...can you expand on that? Thanks

at 7:42:04 PM
Yes, we're working diligently on that right now, Mickeyite! Stay tuned . . . .

stacy asks:
Hey Ken, Brand spanking newbie here - and I'm wondering both why you start with the paper chart books and how members can aquire these same charts? I already have the subscription to US charts but nada on paper

at 7:44:11 PM
Hi Stacy! Yes, call a Course Counselor (541-955-2700). You can even order just one set to "try them out" first if you like!

Matt asks:
Matt from Kansas. How do you know where to put your exit point on a put option?

at 7:45:49 PM
Hello Matt --- There may be about as many answers to this question as there are traders, Matt! Try SEVERAL exit strategies ON PAPER and see which you prefer. I give several ideas in each of the Trading Strategy pdfs.

peteinjersey asks:
Hi Ken: Great to be with you tonight. I must have lost $200,000 or so over the last 20 years in various business ventures that never seemed to work out. I was about to give up when I "stumbled" onto your course. What a refreshing change!! I feel there is hope for a better life out there after all, and commodities are the answer. I think you have aptly titled this as the "World's Greatest Business". Now I know what it means to "find my right place". Thank you so much Ken.

at 7:48:20 PM
Thanks Peteinjersey! I wholeheartedly agree!

Mike in NYC asks:
I do something similar to Mickeyite. I have two accounts. One is larger, which I generate the profits to live on. The other one I always start at $1,000. Then I show my friends and family how to double that to $2,000. Then grow that to $5,000. Then double again to $10,000. If you can turn $1,000 into $10,000, what you learn will allow you to trade any account size with safety. Identify the Trend, and Manage your Risk by trading options. It also helped me a lot to Paper Trade as many markets as I could stand. It teaches you to really follow the markets and learn how profits/losses happen.

at 7:49:41 PM
Fantastic, Mike in NYC! (I hope your family and friends appreciate you!)

CHARTECH asks:
Options trading is growing.I was reading today that options trading is growing exponentially.Traders are starting to wake up I beleive. A couple of weeks ago I made $200.00 in 2 days on 2 dec 230 corn puts on a pull back and hedging my futures contracts.What a great bussiness to be in.Thanks to the great teachers at KRC who teach us. this

at 7:51:57 PM
Thanks CHARTECH!

KC asks:
KC Thanks Ken for post from rocketman. A lightbulb just came on for me.

at 7:52:04 PM
!

Texas TOVI asks:
Ken, several month's ago I inquired about your briefcase and set that as one of my goals thanks for your response and I got my case cognac in color it is great. That was my reward for the time I place in working these charts and studies. By the way what ever happed to the little seven year girl that was in your earlier videos ? My son is about to be six in 2 weeks and he has watched dad and charts since he could recognize what they where.

at 7:54:51 PM
You're a great Dad, Texas TOVI! Last time I saw Priscilla and her Dad Ken, she was in high school (and they were both still trading strong)!

I'm going to post an ABOLISH THE IRS logo in a moment, and in it I'm holding that cognac briefcase you mention . . . .

trader05 asks:
well, we got to see how the other side works! we were in Chicago over the weekend for a family wedding and our broker got us into Chicago Board of Trade on Friday. what an absolute thrill that was for us! a Refco floor clerk took us all around the trading pits and explained how everything worked. The Soybean pit seemed to be the largest and about the only one really going nuts that day. we also went up to the visitor's gallery and could look down into the pits. it was the only site we were interested in seeing in Chicago !

at 7:57:25 PM
It's truly AWESOME, isn't it, trader05?! You really can't describe it --- you have to be there! (And there's a fantastic cigar store in the lobby --- Jack Schwartz Cigars . . . . I love sitting in their lounge when all the floor traders come in after working in the trading pits that day . . . .)

3 Edmonton razorbacks asks:
razorback #2 here Ken, got the TRADING RULE THAT CAN MAKE YOU RICH book from 4 STAR BOOKS, I thought I had that 50% retracement rule figured out, what an eye opener, been paper trading it for 6 weeks and it's phenomenal! Lots of pictures too so Razorback #1 & #2 can even understand it! Please send another copy , they got hold of the crayola's and colored all the charts [still can't stay in the lines] thanks a lot Ken, another great peice of trading literature.

at 7:58:12 PM
It's great, isn't it, razorback?! Yes, I love all the pictures too!

Russ-Malibu asks:
Dude, What's up? Haven't talked to you for a while. You know I have been an online US Charts subscriber and a paper chart subscriber for many years. I just want to compliment you on the "new" addition to the online charts, the TOVI trend and Stong 1 information. I don't trade too many options, (I do own a couple Yen March 88 puts) but I mainly trade futures in the crude complex. (I Like to specialize) (remember the 2002 Porsche CLZ2)? Anyway, wanted to tell you about an interesting phenomena that's pretty reliable, especially with the strong up trend in the crude complex. Every summer (until around Labor Day) the crude complex firms each week for the weekend. It usually starts on Wed. night and firms through Friday close. Then it eases (oozes)down for a few days, giving new buying opportunities. I've been trading this "crude annuity" for the past few summers and it is profitable a good 75% of the time when the trend is in a stong up.

at 8:00:19 PM
And this strategy paid for that 2002 Porsche, didn't it, Russ-Malibu? Good one! (Sorry I can't race you now --- this H2 Hummer only sees Porsches as speed bumps!) It's great "seeing" you again!

BJ from Oz asks:
BJ from Australia, G'Day Ken. I love the WGB Alerts but I don't understand why sometimes you say it is a good time to paper trade and other times you say you are buying an option. Is it just your way of saying to use caution on a trade? By the way, I'm a country boy from Utah and love your hat!

at 8:02:37 PM
Thanks BJ from Oz! G'Day to you too! When you see "paper trade" in the WGB Alerts, that means we're WATCHING that market. And when you see that we're "buying an option," it means that we are trying to enter that trade. But EVERYONE needs to paper trade sufficiently before trading real money . . . . Thanks for joining us this evening!

Cathy from San Diego asks:
Thanks for the pictures Ken, those two days were fun and very enlighting and dinner was delicious!! I'm studying everyday and loving it. They say if you lose track of time when working you really love what you are doing. That's what has been happening for me. Thanks for all you do for us. Cathy

at 8:03:08 PM
You're welcome --- and thank YOU too!

antiquer asks:
Antiquer here. Does Krista have a matching hat???

at 8:04:41 PM
Not yet, but we're going to Nudies the next time we're in Southern California (I'll bet hers will be pink!) . . . .

scubascott asks:
Hi Ken, can we see a picture of you and your H2?

at 8:05:55 PM
Yes, scubascott! There are some in those Trading Camp pictures I posted this evening. You can also find some in the Chat Archives of previous chats. (Man, gas is expensive when you're only getting 8 miles per gallon . . . .)

tenneseeDC asks:
Hey Ken. In a hi/lo trade, does the market have to close at an all time contract high or low, or is the trade strategy triggered at any point in the trading day when it breaks past the previous contract high or low? Thank you.

at 8:06:39 PM
A CLOSE over (or under) the previous high (or low)! Good one, tenneseeeDC!

Well that's it for another month . . . (I LOVE these chats!) 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, September 13th. As always: Use these newfound powers only for Good. Good night, God bless, and watch where you step!

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