Ken Roberts Chat

Let's Talk Trading (tm) with Ken Roberts
from October 7, 2003

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. 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!

Joshua in Florida asks:
Good Evening Ken, I'm short Live and Feeder cattle contracts, protecting myself with puts. "Proceed while being afraid." When calculating the weekly target in Feeder cattle, do you use the lows in Feb 2003, Apr 2002, or Dec 1998. Thank-you Ken, love these chats !

at 6:08:11 PM
Hello, Joshua. Are you LONG and protecting yourself with puts? I use the low near 65 in December, 1998.

james moffitt asks:
Is this a typed chat room or an oral chat room?

at 6:09:15 PM
James, can you hear me now?

capnat asks:
How long can feeder cattle stay at the current levels?

at 6:09:48 PM
Wait, capnat, let me get that crystal ball I keep around here . . . .

moneylovr asks:
i just ordered the options course and was wondering what advice you could give me in the beginning?

at 6:10:51 PM
Paper trade, paper trade, paper trade . . . .

CW from Norman, OK asks:
Hello Ken and Crew! Thanks so much for these chats and all that you do to help. Because of this help I cleared 55k in the Rice market when it hit the monthly 50%. Ken, do you personally use TOVI successfully to short term trade futures contracts with stops? Currently I trade long term only. Thanks.

at 6:14:02 PM
Yes, and you'll love it! Thanks.

BigFatGeekWaiting asks:
In a futures contract, do I abide by the FND for a long contract, and LTD for a short contract? Or do I try to exit my position on the FND for all futures contracts?

at 6:15:39 PM
FND when long and LTD when short. (Great name!)

Tre-Tre from Toronto, Ontario Canada asks:
Ken I visited your company in August, what an operation! It was a lot of fun. When trading the canadian $ by your methods and a 123 top shows up but your monthly charts tells you to stay long, which trade do you take, thanks and keep on keeping on you da man.

at 6:17:23 PM
Thanks! Depends upon whether you're trading LONG-term or SHORT-term, Tre-Tre. (Try paper trading BOTH simultaneously!)

John the Methodist asks:
Howdy Ken, Thanks for the TOVI chat – it was very helpful. Can you believe the cattle prices? They’re so high that I’m getting as dizzy as a termite in a yo-yo! I used to be a real man (a.k.a. didn’t use stops), but I’ve lost some of my masculinity and now use options for stops. Since I’ll have to roll my shorts in the next few weeks (and hope that I don’t loose them in the process), I was wondering which month would be best? Nov call options (stops) are the cheapest, but don’t have enough time and March offers the opposite. I looked at TOVI, but don’t know what to make of the info. Got any ideas?

at 6:21:41 PM
Thanks, John. Yes, I appreciated all your great input on the first-ever TOVI Chat last week. I just did a "Value Factor" search of put options in Live Cattle (which are dead) and right off the bat find some great puts for protection. You're still a real man, John: Protective options do NOT count as stops!

Trips22 asks:
Hi Ken and the gang, What strategy to follow with NASDAQ. I am long some minicontracts and have some call options. Monthly 50 % is 2800 but at present one can only trade December and strike is 1800 only. So how to trade this market which has so much long term profit potential? Thank you for all that you offer.

at 6:24:05 PM
You're doing GREAT Trips22! Hang onto what you've got and then see what's available when it's time to roll. Congratulations!

Janice asks:
Hello Ken, this is Janice in NC. I love these chats! Thanks. I would like to know what happened last week? I thought there was suppose to be an online tour of TOVI, but I couldn't get in to it. All I could get was the message that a virtual tour was "coming soon". Next, I've been looking at feeder cattle, they are at almost 25 year highs. I'm thinking about getting some Puts on them What do you think about that? Also, do you think Sugar is gonna do anything soon? It is at near record lows. Thanks and pass the Hot Chocolate. It is really chilly here in the smokies!

at 6:29:37 PM
The TOVI Tour IS coming soon, Janice (and I'm still working furiously on it to make it AWESOME). Thanks for being patient. What DID happen last week was our first-ever TOVI CHAT. I think it's smart to beging pricing Feeder Cattle puts. Keep watching Sugar. Long-term, TOVI likes Sugar, but gives it a red light now. Short-term, TOVI says the trend is a "moderate" down market, meaning it could turn into a great short-term SHORT trade. (This is just one of the reasons I love TOVI: It helps keep me OUT of a market instead of getting in and waiting, waiting, waiting . . . .

wagnernumber81 asks:
hi ken!! its so great to get together with other people that share the same interest....i know you talked about buying coffee on dips last month....should we be looking at may options, if we cant afford the futures market?

at 6:31:22 PM
Yes, look at coffee calls now (and you'll find them as far out as September, 2005!!!!) Thanks!

Joe asks:
Ken do you look at commitment of traders to see what the commercial buyers are doing to make decision on which way you think the market will move?

at 6:31:39 PM
Never, Joe (honest)!

Trips22 asks:
Hi Ken One more question, What is your opinion of Dollar Index? I am long and losing money. Today the dollar broke 1 point on the long term monthly charts it has the potential to go down a lot further. Is it time to get out and take a loss? Or should we hold on and wait for it to rebound? Your opinion will surely help me. Thank you again.

at 6:34:55 PM
The Weekly says to be long (and TOVI agrees) and the Monthly's just made its 50% Retracement DOWN and should rebound (up) again. The only "problem" here is that TOVI says the Dollar is presently in an "Extreme" downtrend (but "Extreme" trends can change on a dime). But ultimately, Trips22, only you can decide whether or not to hold on. Thanks!

Bill C florida asks:
do you think its best for a beginning trader to focus on one market instead of looking at every opportunity that might be available?

at 6:35:45 PM
No, Bill! Paper trade as many markets as you can!

Jim Fortune asks:
What's a Montecristo #2

at 6:36:23 PM
It's one of the world's GREAT cigars.

laulinaharris asks:
HI Ken-Goldendale, WA Thanks for these chats and making the archives available. I'm learning alot! In reading through them I have come across the term "pyramiding." What is it? Also, in doing a budgeted search on Tovi, do I enter just how much I want to spend on that particular commodity, or is that my total option budget?

at 6:39:14 PM
Pyramiding is using accumulating profits in a futures contract as margin to purchase MORE futures contracts. Re: TOVI, tell TOVI your TOTAL budget for that market and let TOVI take it from there!

Celeste asks:
Hello Ken, In your courses you teach to shop for call options when prices are falling, and puts when rising. How do the TOVI recommendations help with buying options? Thank you!! From N W Wisconsin.

at 6:41:42 PM
TOVI compares EVERY option in any given market against EVERY OTHER option in that market and then ranks them all according to which offer the most value for your money. A human could not manually do this every day (and TOVI does it in moments!). Thanks for joining us this evening.

ML asks:
What are you doing with Coffee call options right now? Did you buy some more with the recent drop, or are you just sitting tight?

at 6:42:36 PM
I presently have futures AND calls in Coffee and will be looking to purchase more of both if coffee drops a little further. Thanks.

Many questions have just flooded in asking "What's TOVI?!" Go to www.tovionline.com. (And as I stated earlier, I'm presently frantically working on a FANTASTIC TOVI Tour so I can "personally" guide you through all of TOVI's many, many features. But for now, click on "What Is TOVI?" on the homepage. Thanks!

DAVE FROM OHIO asks:
TOVI: CAN ONE USE THE SHORT TERM TREND INDICATORS TO TRADE WHILE WAITING FOR THE LONG TERM TREND TO HIT? eg. FEEDER CATTLE USING THE VALUE FACTOR IN SELECTING OPTIONS ? THANKS FOR ALL YOU DO.....DAVE

at 6:45:25 PM
Absolutely, Dave. (I waited all my life for something like TOVI!!!)

tom asks:
should we be loading up on feeder cattle puts, or just keep watching? Tom

at 6:46:04 PM
I'd begin pricing them and figuring out what's "cheap" in Feeder puts now, Tom. (You contrarian!)

golferwins asks:
I'm not hearing anything either. . .

at 6:46:51 PM
What? (I'm speaking louder. Can you hear me now?)

hawaiianson asks:
Aloha (again)! After reading the TWMPMM manual and doing the paper trades as often as possible, what course do you recommend next?

at 6:48:21 PM
Keep at it until you find yourself saying "I'm tired of being right and not making any money on it" a lot. (You don't need another Course, but if you must, try GAB --- Call a Course Counselor) Thanks, and Aloha!

Greg asks:
Hello Ken and gang. Thanks for the TOVI chat! It was GREAT!! Hope you have more.

at 6:48:33 PM
Thanks Greg. We will . . . .

Mikey Z asks:
Ken, I want to thank you for jump-starting my papertrading once I started subscribing to US Charts. Before, I was manually updating all my paper charts every night which took more time then actually, viewing the US charts then making my trades. My paper trading is night and day...Question : ( in regards to the Austrailian Dollar and Platinum, what can one do to protect themselves inexpensively once a 1-2-3 (Bottom/Top) breaks the 2 point and turns around to make new Lows/Highs)? I stayed in with futures and as you say "if you get out you lose" - but every day the market keeps going against me ? Any advice for this 6 yr TWMPMM student? Thanks again....

at 6:50:25 PM
Try paper trading this, Mikey Z: Purchase an "inexpensive" opposing option BEFORE you enter your futures trade. In this way, you "leg into" the trade. Good goin'!

tom asks:
Tom, Boca Raton, FL. I bought feeder puts at 57 and 15. Its now at 2. Should I keep loading up on these in further out months or just keep watching?

at 6:51:45 PM
That's up to you, Tom, but they can't get much cheaper than 2 . . . .

Mark in Tennessee asks:
Ken Sir, What, in your opinion, is going on in the Orange Juice market????? And what is the best way to profit on it????

at 6:53:16 PM
It's moving sideways, Mark (which typically means "cheap" options!). No one knows what's the best way to profit on it, but I do know this: If you're not in, you can't profit!

drake asks:
Hi Ken! Even though TOVI will tell us the best option to purchase, isn't it still a good idea to get the GAB course so we understand the terminology, and have a better idea how the whole commodity markets work? I told my friend about TOVI and they want to jump right in, but I think the brokers will lead them astray if they don't get GAB as well.

at 6:53:56 PM
You're a brilliant man, Drake. I couldn't have said it better myself. Thanks!

SirGawain asks:
Ken, I have taken TWMPMM1 & TWMPMM2 and since I started trading with real money in March (with $5000), I now have doubled it. Would've never done it with mutual funds, that's for sure What is the difference between them and the GAB course? Is GAB meant to replace TWMPMM1&2, meaning you will phase them out?

at 6:55:56 PM
All my Courses, SirGawain, have evolved over time and through my own trading experiences. GAB is the latest step in that process. Thanks!

Steven asks:
The ONLINE US CHARTS ARE ROCKING!!! THANKS.

at 6:56:18 PM
Yes they are. Thank YOU!

trwtrader asks:
Ken, Is it usually the direction of a market to climb slowly upward then decline rapidly - ie. Cattle. Thanks.

at 6:57:33 PM
There is no "usual" in commodities (which is also why I don't regard "seasonal" trading at all). Thanks.

Eric in Fort Worth asks:
Good evening, Ken, and thanks again for hosting these chats. I don't know much about TOVI and am wondering if it invalidates the long-term position trading techniques you teach in the 1995 videos?

at 6:58:38 PM
Not at all, Eric. It ENHANCES them! I think TOVI is the best thing to happen to trading since trading began. No kidding!

BearlyThere asks:
I see Rice making a 50% retracement to 5.75 on the Monthly and 6.48 on November's Daily. Does this sound about right? Many thanks.

at 6:59:47 PM
Looks right to me, BearlyThere. (Isn't charting GREAT?!)

Russ - Malibu asks:
Ken: Sorry I missed your last chat. I was too busy being worried about my two NDZ3 positions. On May 28th it broke out of a perfect 1,2,3 bottom and has been going up (and down) ever since. I’m long three from 1183 and have been riding the roller coaster for over four months. The margin is 15K for each and they are up about 27K each. My weekly, 2848, is another 1452 points ($145K) each from today’s close. Since I’m feeling good about the move I’m thinking of adding three more (45K more margin). The question is whether I will have the nerve to ride the bumps with this much on the line. I’m loving 2848, looks very possible to me! Dude, I need your help! What do you think?

at 7:01:30 PM
I'm with you, Dude: Aren't these profits GREAT?! You da man, Russ!

chief asks:
Hi Ken... TOVI chat was great the other night. I really was able to get go back to the TOVI web site and get it up and humming and I still think I am just scratching the surface. On another note, I just got out of 2 long Canada Dollar futures contracts this week when it hit my (conservative) price target for a profit of $4340. The Hello This is Ken Roberts calling audio tape is full of wisdom. Thanks again for your time and commitment.

at 7:03:16 PM
Thanks, Chief. You made my day! Yes, you'll keep finding more and more features of TOVI that you never thought of before.

Paul Breen from Australia asks:
Hi, Paul from Australia...Tks for all you do... I am terrified! I am short one November Feeder Cattle that I SOLD @ 89c after I bought a 94c Call (just in case). Lucky I did! My concern is that if the contract does not drop BEFORE the option expires & I need to roll into the next avail contract month, will I be unduly "exposed". I will look for call options in the next avail month, but they might be very expensive. Help ! What would you do Ken ?

at 7:09:46 PM
It wasn't luck, Paul, it was WISDOM. Good for you! Try hanging on as long as you can. In the meantime, price those PUT options and consider trading ONLY THOSE for the ride down (assuming the market doesn't turn down before your present protective call option expires). By the way, TOVI likes Feeder DOWN for the long-term (that's good) and short-term, TOVI says Feeder is "Extreme" up, which means it could turn around on a dime. Thanks for joining us this evening from down under!

John the Methodist asks:
Great! I thank you and my wife thanks you :)! But, I didn’t make myself clear - I'm short and looking for call options for stops. I guess my question is how to interpret the TOVI data. As I look at feeder cattle calls to use as stops, do I look for the best “Value Factor” even though I’m shorting the market with futures contracts?

at 7:11:22 PM
Yes, no matter WHY you're purchasing an option, you still want the best VALUE for your money. Thanks, John!

Bill C florida asks:
ken. ive been in love with your course since i first received the flyer about it. im holding my own but not making a killing at it,just wondering what the best approach for me would be? focus on one market or watch all and decide which has the best risk to reward ratio.

at 7:12:20 PM
Paper trade as much as you can, Bill. That's the BEST teacher! Thank you!

mrfoxfoot asks:
HI TO KEN AND GANG FROM GUATEMALA C.A. Ken I have been shorting feeder cattle for a long time and adding contracts to my position. Is it about time to start shorting the november contract. your response will be greatly apreciated.

at 7:13:36 PM
Thanks, mrfoxfoot. Sure, the November contract looks fine.

mikecsprings asks:
Is there a paper trading seminar in near future (the x's and o's)

at 7:15:17 PM
Sure, mikecsprings, there are two: 1) Call a Course Counselor, or 2) Consider scheduling "A Day With A Course Counselor" if you'd like to visit Grants Pass. Thanks!

Big A asks:
hey Ken, Cocoa has done its 50 percent downward trend. Now im in coca long i had 12 contracts the other day with a profit of 15grand and did not take it cause i am waiting for the 1850 target. My question is am I looking at Cocoa right. Should i stay in it or get out till it decides which way it wants to go? Thank you

at 7:22:47 PM
Yes, Cocoa's made its 50% retracement DOWN on its Weekly chart. I see Cocoa the same way you do and would stay long if you can. (TOVI says Cocoa is "Neutral" long-term and in a "Moderate" downtrend short-term.)

optionfirst asks:
Hey ken in the soybean market (extreme) does the 50% rule of 750 still apply in most cases? and would a 620 put be a smart place to start pricing? Thanks again

at 7:25:29 PM
Yes, optionfirst, I still abide by the 50% Rule. And yes, I'd start pricing puts (but let TOVI help you find the best VALUES, rather than focusing upon just one strike price). Thanks!

BearlyThere asks:
Hi Ken, Nate from KS here. This is my first time joining the chat. Usually just read the archives. I love what you are doing and am so thankful for it. In my first year and a half trading, I have over $14,000 profit from liquidated contracts, mostly futures. I like what options have to offer, and I know they can work, I'm just a little impatient. I like the fast money of the futures market, but also the stability of the option market. Being patient is truly the hardest part. I know it will happen, but I just wish it would be sooner. Once again thanks for all you do.

at 7:27:01 PM
Thanks, BearlyThere. Glad you're with us, and welcome aboard! Try paper trading options using TOVI's Short Term Momentum Rankings and I think you'll change your mind about options being "slow" . . . .

moneylovr asks:
im having a blast tonight ken thanks for doing this for us

at 7:27:11 PM
You're welcome!

Ron and Lorene in Arizona asks:
Ken We noticed that crude oil is actually called "Light Sweet Crude Oil". Who tasted it to determine that it is "Sweet"?

at 7:27:52 PM
Probably some Texan!

GkeymanM asks:
Hi Ken, my question is can you roll over options as you do contracts? or do you have to exercise, thank's for everything.

at 7:29:18 PM
No, you cannot "roll" options. I've NEVER exercised an option, but that's one way to close an option out. The more common way is to "liquidate" your option at its present market value and simply purchase another new one. Thanks.

Mike asks:
Ken, It says in the TOVI tutorial that even though TOVI doesn't use a crystal ball, there are many data sources, trading systems, and other tools at its disposal. I'd love to know what's "under the hood." Thanks, Mike

at 7:30:08 PM
You WILL, Mike, as soon as I finish this TOUR (and begin working on a Trading Strategies TOVI module)!

LT from KS asks:
Hi Ken! I want to thank you for the courses which you offer. I apperciate the information you are sharing and teaching. This is truley the only business where a person with a small amount of capital like myself can make a fortune! I have turned $1600 into $8000 in three months in the coffee and soybean complex and plan to make more $$$$$$$. How can I find information about TOVI? Thanks

at 7:30:55 PM
Thanks LT from KS. Begin at www.tovionline.com . . . .

BearlyThere asks:
I'm like a kid in a candy store, who wants everything he sees, but whose dad only gave him a dollar, so he has to choose what he wants. I see opportunity all over the markets, but don't currently have enough money to capitalize on them all. Any advice for a trader with a serious sweet tooth?

at 7:32:59 PM
Sure, BearlyThere. Call a Course Counselor and ask him/her about my "let-the-markets-tell-you-which-market-to-trade" technique. Thanks!

LittleHusker asks:
Ken, Thanks for all the work you do. I've really enjoyed twmpmm 1&2 and until recently was pretty sure that I would not want to purchase anymore courses, but...your excitement over TOVI is obvious and definetly contagous! I am calling a conselor in the morning to get on board. Thanks again.

at 7:33:42 PM
Thanks (now you'll be a BIG Husker)!

chief asks:
HI KEN...Chief here from Eden, NY. The Rich Man Secret helps us see things from a unique vantage point. I know this can help Bill from Flordia to get off the one market mind frame and paper trade as many as you can. Try long term short term take all the risks that would keep you up all night while your paper trading. Even paper trade a market you are trading with real money if you think an opportunity comes up and you want to try a different angle. This will allow the chance for you to work TOVI and your charts and not "miss" the big take off. For myself being on the right side of the big take off even when your paper trading is a major learning experience....

at 7:34:44 PM
Thanks, Chief!

Drew asks:
Hi Ken & Gang, The Euroyen and Eurodollar are among the most extreme markets, are you short (or have puts) in either of these markets? Commodities present some of the most incredible opportunities to make money! Thanks for sharing your knowledge and taking the time to continue teaching it to us!!!

at 7:38:52 PM
Yes I do --- both in both! Isn't this the World's Greatest Business???!!!

Greg asks:
Hi Ken and crew. Since Coffee has been so low for a long time, wouldn't it be smart just to wait for TOVI to give you the green light before entering this market? Thanks for these chats!!

at 7:39:58 PM
Sure! That's one of TOVI's GREAT features --- it can keep you OUT of a market that could have had you hanging on for years . . . .

SirGawain asks:
OK Ken, I am a TWMPMM 1 & 2 graduate...what am I missing out on for not taking GAB? All I hear is GAB this; GAB that...

at 7:40:57 PM
Funny, I thought you'd say "All I hear is TOVI this; TOVI that..." Call a Course Counselor, SirGawain, and learn all about GAB.

cattleputter asks:
hello Ken, Am I the only quack buying DOW puts? March 04 8000.

at 7:41:38 PM
Maybe, but you could become the RICHEST quack around . . . .

Simon asks:
New York - I just received the Rich Man's secret course and am listening to the tapes now. I am looking forward to doing more learning with it. I believe that it will make a big difference.

at 7:42:01 PM
It WILL, Simon. (And a lifelong difference at that . . . .)

red_sox asks:
Hi Ken, during your early years of trading, did you ever take 'breaks' from trading after you've made a significant profit? The reason I'm asking is because, everytime I make a good profit, I start to trade more markets thinking I'm on some good streak and end up giving back all I made! So I'm wondering whether its a good idea to take a break and then come back in a little later with a less-eager and clearer mind and a bigger balance...

at 7:43:06 PM
Try it, red_sox; that could be a GREAT technique for YOU. (I know some traders who take a vacation after each of their prize trades!)

TraderJim asks:
Ken...I am a GAB course member. I am loving what I am learning. After the inital 3 month period, how can I keep receiving the Friday GAB email updates/ briefings??

at 7:43:46 PM
Simply renew your Newsletter/Alert Updates subscription. Thanks!

richman asks:
Hi Ken, I bought a couple Mar. soybean oil calls in Aug. for cheap. I sold one a few weeks later at the weekly 50% for a $270 profit, I sold my second last week for a $1,020 profit after commission, etc.!I've now purchased a couple May cotton puts. I'm looking for a 50% retraction to about 60.

at 7:44:12 PM
Trade on, richman, trade on!

hawaiianson asks:
Aloha, Ken! Just got your TWMPMM course and read through the manual and found that the first 3/4 of the way was easy reading. After that it got more difficult to comprehend. My question is, can someone become successful using just the 123 top/bottom with 50% retracement method? I know the next step is to paper trade and I can't wait to do this.

at 7:45:15 PM
Yes, hawaiianson, many people trade just that way. Everything will get clearer and clearer as you paper trade. So hit those charts! Aloha!

hedged asks:
Hi Ken: Do you EVER use fundamentals (drought, freezes, inventory levels,strikes, weather, etc.) to determine futures candidates or entry points?? Regards.

at 7:47:52 PM
You used the "F-word", hedged! No, I NEVER use f-----------!

ptpete asks:
Hi Ken, I was wondering if there will be an archive of the TOVI chat, sorry I had to miss it. Paper trading, within a couple of weeks I had a profit of over 3k using TOVI for the first time.

at 7:50:02 PM
Yes, ptpete, last week's first-ever TOVI Chat is currently archived in the "Ken Roberts Chat Archives" on this website. It will soon disappear from here and move to the TOVI website. It was GREAT; sorry you missed it, but stay tuned . . . .

shango asks:
Hi Ken; Shango here from Brooklyn, NYC. That Tovi chat was geat. I am currently paper trading Tovi with contracts. My strategy is to only trade the "strong" markets and those markets that have been in "extreme" for limited time, say less than 15 day's. Please comment on this strategy. P.S. when are you comming to New York? The black-out is over you know.

at 7:51:32 PM
Thanks, Shango. Those sound like great strategies to me. Several people I know use these too and love the results. Don't know when I'll be in NYC again, but you never know . . . . Stay tuned!

Big bucks danny .lol. asks:
Big bucks Danny .LoL. Hello is this realy Ken ? Just wanted to ask what you think of the T Bond Market at this time ? Is this just a pull back from the 50%?

at 7:55:08 PM
(Which Ken are you looking for?) Yes, this looks like a pullback from the 50% to me too. (TOVI says 30-year Bonds are in a "Moderate" uptrend just one day old; long-term, TOVI says Bonds have a long-term DOWN bias.) Thanks, Big bucks danny.

bob asks:
Hi Ken: I have recently received the Options course and am excited. I have not begun paper trading yet, but would like to know, would you encourage the use of TOVI along with the charts in the beginning of paper trading? Thanks again for the course and your mindset. Bob from Riverbank, CA

at 7:56:09 PM
Yes, Bob. Since TOVI, I wouldn't want to trade without it!

moneylovr asks:
what would you say ken is the best possible opportunity right now as far as options

at 7:57:10 PM
You're asking me for the "Pick of the Day"? Can't tell you tonight (but TOVI will soon feature that too!).

Rollerman asks:
Ken, what does TOVI say about Rice. Is it going to continue to go down. Currently sitting with $5500 in profits in Nov. just wondering. thank you

at 7:59:41 PM
Hi Rollerman. According to TOVI, there's a long-term UP bias in Rice (and gives it 10 months to take off). Short-term, TOVI says Rice is in a "Moderate" downtrend for the past 6 days. So if I were short Rice, I'd stay short for now. Thanks.

217trader asks:
Ken , Many thanks for the GAB couse.I am not worried about getting stopped out any more, and my wife is talking to me about commodites now!

at 8:00:17 PM
!

Limit Up asks:
Oh oh... call on me, call on me! I'm a little frightened with how TOVI says this and TOVI says that. It almost seems like you are using a computer system to make your trading decisions. PLEASE say it aint so! Thank you for everything and LOVE RMS course!

at 8:01:17 PM
It ain't so, Limit Up! TOVI is NOT a trading system; it's a unique and powerful trading TOOL. Trust me: You'll learn to love it! Thanks.

charlie asks:
It's taken a while to get going on TOVI, but we have FINALLY started to paper trade options. Can we paper trade futures using TOVI? My husband and I are very excited about this, and committed to becoming successful traders. My husband has started smoking Cuban cigars thanks to your influence! Thank you for all you do, Ken and company. We will come see you soon from Canby.

at 8:02:59 PM
Well I'm sure you don't live in The People's Republic of California, Charlie! (I think Arnold won today . . . .) Yes, TOVI's just as valuable a tool in futures as it is in options. Come visit soon!

Tarheel asks:
Ken, You are receiving a great many questions about TOVI. I am using your internet charts program and find it very helpful although I still like the paper charts to lay out my plan of attack. My question is will TOVI replace my internet charts? Thanks

at 8:03:43 PM
No, Tarheel, and it's great having that Option Price History on U.S. Charts too! Thanks.

cleanbird asks:
dear ken,im eric and im 11 years old,my dad loves your chatroom.

at 8:04:00 PM
Welcome Eric and Dad!

wal asks:
Ken, I see that you are still long coffee... I've been long coffee for over a year now and am beginning to wonder whether I should still be in it given that TOVI estimates a substantial coffee move to be within the next 23 months. Why stay in this market if it could take almost two years for it to get going?

at 8:08:16 PM
That's right, Wal. Until TOVI, I had no idea when any market might take off. Your reading of TOVI's long-term view of Coffee is correct, and short-term, TOVI says Coffee is in a "Moderate" downtrend (and has been for 14 days). So this would keep me either SHORT Coffee right now, or at least out of it for the moment.

sellin55 asks:
Ken in your course you advocate trading long term out of the money options and now with TOVI you have seem to taken a different approach to trade shorter term options{ more riskier} would you share your view with us. Thank for these chats, they are instresting.

at 8:10:25 PM
Good question, sellin55. TOVI will show you that shorter term options are NOT necessarily riskier! Paper trade a short-term strategy using options and I think you'll be elated.

Well that's it for another month. Here are my favorite web sites if you're interested: www.tovionline.com (Watch for my upcoming personal tour!!!) ; www.uschartco.com ; www.fourstarbooks.com. ; www.historictrees.org. ; www.billoreilly.com ; www.wildlifeimages.org; www.LP.org. My next chat will be Tuesday, November 11th. As always: Use these newfound powers only for Good. Good night, God bless, and watch where you step!

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