Ken Roberts Chat

You'll see all 10 winners of our first-ever Members Survey listed throughout the Chat this evening.
Well, as usual, we covered myriad topics --- and lots on our newest S-1 Strategy: This is just one particular trading strategy that uses NO charts for its entry signal! 6:13 Ever worry over not being able to cash in a profitable option you're holding? See Tracy at 6:15 And colette's experience at 6:28 Milk futures? 6:34 How do you like CHARTECH's trading strategy? 6:38 Sorry for any confusion: See jk at 6:38 Which "Euro"? jtrader41 at 6:48 benrise's $125 options sold for $4,000 each: 6:57 Then see his trading strategy at 7:27 (in spite of "stupid news"!) Like me, Durango thought he'd never live to see the day . . . 7:01 makin money is makin' money! 7:10 Fellow Libertarian pjw: 7:13 (See Power vs. Force & CD Workshop set at FourStar Books) On the road again? 7:15 Do you own an H2 Hummer? 7:24 Can you "fudge" on the newest S-1 Trading Strategy? Yes! 7:29 A very busy Alaskan! See Ron at 7:51 Have a Merry Christmas, Happy Holidays, and look forward to a GREAT new year, 2005!	Here I am with Dallas' Lucy Ewing "Charlene Tilton". I asked Charlene what JR was always looking at on his computer. "Crude Oil prices on U.S. Charts Online, of course!"
NEW! Be sure to read about "The Differences Between a Man and a Woman " . . . the latest addition to the "About You" area in the Member Library at www.kenroberts.com.
Until Next Time,

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Copyright 2004 - The Ken Roberts Company

Let's Talk Trading (tm) with Ken Roberts
from December 14, 2004

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As we begin this evenings session, let me state the reason I conduct these monthly chats: to provide you the opportunity to ask questions and pick the brain of a successful, long-time, real-money trader. Its not the highest and best use of our limited time here together for me to define basic terms and explain introductory principles taught in your Course materials. Thats what my Course Counselors are here for... Now is the time for you to use me to help you apply the basics youre learning and to prepare you for what to expect once youre out in the market itself (either paper trading or with real money). And if we have some fun along those lines, so much better. Alright... Ive got a Davidoff Double Robusto fired up, I forgot the cookies!!!, but the coffees poured, so lets talk commodities!

NOTE!!! When commenting on one of my Courses, please identify WHICH ONE. Also, when relating trading experiences and/or results, please give details: Futures contracts, options, options AND futures, etc. This helps others follow along and learn from your experience too.

Durango asks:
Ken its great to finally be online with you. Last week we tried to get Mar Silver 10 525 puts for 5 cents and never got filled. The next day Silver started its free fall. I was relieved when you shared about not being able to get into a market yourself. Now I know that even the most astute traders dont get the opportunities they are after sometimes.

at 6:05:02 PM
Lessons --- these are ALL valuable lessons, Durango. Congratulations! You are now initiated into the world of commodities! Glad you're finally online with us too! Welcome!

Adam asks:
Using S-1 Strategy does the days in trend mean anything?

at 6:06:21 PM
No Adam: Even a market that's been in its trend, say, 60 days, if you see "Strong" and "1", that's the signal to enter. Give this new Strategy a paper-trading try and I believe you'll soon be saying "There's elegance in simplicity." Thanks!

That was the first of 10 winning names I'll post this evening announcing those who'll receive a three-month extension to their WGB subscription. These are the winners in our first-ever Members Survey we recently conducted. I'll send you a special, separate email revealing the results of this Survey along with my comments. Hope to get that out this week, so watch your email inbox!

richk asks:
New Haven, Connecticut Dear Ken, I've been following the new Hi-Lo Strategy with great excitment and now about to trade it. Wondering if you would ever advise placing an Open order to anticipate the breakout point Hi or Lo rather than waiting for market to close above or below these points -- since the markets often take off so quickly? Thanks as always for you inspiration and generosity! Sincerely, richk

at 6:12:20 PM
Thank YOU richk! I've found that waiting for the CLOSE over the high/low is important (even though I know that some markets take off and blast right through those hi/low points). Try it in a separate paper-trading account, however, and let us know what YOU find works better. Good goin'!

Adam asks:
When S-1 Strategy shows Strong 1 do you also look at chart patterns like support, resitance, 12 month high, 12 month low, 1/2/3 bottom, 1/2/3 top, 50 % levels, etc. to determine if you should enter and potential exit points or would you ignore charts and just on S-1?

at 6:13:18 PM
Not on this one, basic Strategy, Adam. All I use is TOVI's Trend Tracker --- and never refer to a chart! Thanks.

jebush asks:
Ken, I am still papertrading and I have noticed that there is a definite difference in the profit loss level between futures and options. Is there a general percentage difference, and what is that?

at 6:14:50 PM
(Hey Governor, is that you? How's things in Florida?) No, there's no "norm" I've ever seen. I believe it's all subjective --- trader to trader. Thanks.

Tracy asks:
Hi Ken, Have you ever had any trouble liquidating a deep in the money option? Thanks!

at 6:15:41 PM
No, never, Tracy. Hey all: What's YOUR experience been with this?

Thanks for all the response, encouragement, and even resistance! to my recent FairTax email. Together, we're making a difference! (Did you forward it to all those in your email address book?)

Roy from Kansas asks:
Hi Ken. I have noticed when funds are buying and selling it can cause a very large market change the day they are buying or selling. How do you deal with this?

at 6:19:15 PM
I just have my broker place those limit orders, then I sit and wait. Typically I'm filled, but sometimes not . . . . Aren't you glad we have 40+ markets to watch?! Thanks!

cowboy asks:
Ken you use the front month for making decisions. If the front month is after the FND ie. Dec. Oats on nov. 27th. Would you have purchased Dec. contract or March?

at 6:21:29 PM
I watch and take my cues from the ACTIVE Futures Month, cowboy (listed on the TOVI Trend Tracker). I would also be trading that month --- March Oats --- now as well. Good question. Thanks!

Jim from Kalamazoo, MI asks:
Hi, Ken. I haven't been in the chat for awhile and I feel a little overwhelemd with all the new tools, strategies, etc... How do I get on the same page as everyone else and regain confidence in the markets?

at 6:26:01 PM
Hello Jim. How do you eat an elephant? One bite at a time! Don't hurry, don't rush, don't feel overwhelmed. Just take it one simple strategy at a time. Lots of markets are working on ALL THREE strategies now --- the 1-2-3 Strategy, the Hi-Lo Breakout Strategy, and the newest Strong1 Strategy. Read all three instructions, choose one, and begin paper trading it. I promise: Within two weeks, you'll be flying through these. There's no deadline: Take YOUR own, sweet time at it! And always use my Course Counselors when needed --- that's why they're here! Keep us posted on your progress . . . .

luv2trade asks:
Good evening and happy holidays Ken and crew,To make sure I follow,you base your trades on the active month now and usually trade farther out. Do you mark and watch the active AND trading month or only just the active month? I have a hard time not watching the chart month that I am actually trading (like something freaky will happen if I don't watch and chart it too!)What do ya think? Thanks much as always,you guys are the best luv2trade(akaTOVIJUNKIE)

at 6:27:22 PM
Thank YOU, luv2trade! Just the ACTIVE month; that's ALL I watch. Try it: It's a good lesson in self-discipline (okay, you can peek once in awhile . . . .).

colette asks:
tracy, I have never had any trouble liquidating any of my options in the past years. Just try it. Most of mine were deep in the money until I started using tovi.

at 6:28:10 PM
(Did you get that tracy?) Thanks colette!

Tre-Tre from Toronto, Ontario Canada asks:
Ken are you going to add milk futures to US Charts? Thanks, have a merry christmas and happy new year.

at 6:34:38 PM
All my milk trades curdled and went sour on me, Tre-Tre! I couldn't squeeze one profit out of that market. And it's a liquid market at that! It would be udderly ridiculous for me to trade milk. That market just doesn't moooove! (Plus I "herd" a rumor that the floor traders "skim" profits in "bull" markets!) But with all this said, I don't want to "steer" you from trading this market yourself. I just hope your profits don't evaporate. Of course you may whip this market and those trades could become smooth as butter and the cream of your portfolio. (I'm dehydrated now, Tre-Tre, but, no, we likely will not add milk to US Charts.) (Did you receive my response to your email today?) Thanks!

CHARTECH asks:
I was looking at the weekly and monthly in eurodollors on www.uschartco.com . Look at that straight line from 97.50 to 94.00... I would like to see that happen I am loaded in eurodollars: 60 puts in sept.& dec.and bidding on more I am also short 2 june 05 eurodollars futures. Thanks to Tovi I took another $460.00 in profit today in Feb. live cattle. 4 days ago tovi went from moderate to strong got in at 97.50 went back to moderate yesterday out today at 96.35 115pts = 460.00. Up total in appox. 2 1/2 months - $5200.00 Buying all the puts with my profits. Thank you all for a great year and a better one in 2005 . Merry Christmas to Ken, staff,and all my fellow traders.

at 6:36:40 PM
Thank YOU CHARTECH! Good goin'! (Hey everyone: Are you following Chartech's strategies here?)

jk asks:
Hi Ken,I have a question about one of your services. Which service is it that has Kens personal chart book or notes? Is it your U.S.Chart Co. subscription? Thanks Confused in michigan!?

at 6:38:16 PM
Yes, jk, that's www.uschartco.com, but your WGB subscription INCLUDES www.kenroberts.com, which I found out from our recent Members Survey that many people are NOT taking advantage of! Sorry if I haven't made this clearer, but you can count on the fact that I will now! Thanks!

jtrader41 asks:
What do you think of the Euro being at an all time high? Do you think it is ready for a big drop or making even more highs?

at 6:48:51 PM
If you meant the Eurodollar, it's up near its "ceiling" at 99, so that's a great place to short a market! If you meant the Euroyen, it's also high --- at 99.92!!!--- so that's a extreme market to short also (check out the ONE existing put option in the Euroyen on TOVI --- it's only $25 and has 87 days till expiration (be careful that it's not RED though). And if you meant the EuroCurrency market, yes, it's at all-time highs, but remember: There's no "ceiling" here --- it could go higher still. And if you meant EuroDisney, that would be another Chat altogether . . . . Thanks!

ML asks:
Where is this new Strong1 Strategy you are talking aboout? Is it on the TOVI site?

at 6:50:06 PM
No, ML, it's at www.kenroberts.com. (See everyone: Here's how I didn't make this clear . . . .) When you log in with your WGB Membership login, all three Strategies are listed on the right. Check them all out! Thanks!

Mackeral asks:
Hi Ken.An old TWMPMM member here.I've traded futures contracts many times.But now I've been paper trading options and have come to realize that the security of knowing you can't lose any more than your premium may let me sleep better at night. Thanks for the wealth of education over the years.

at 6:51:02 PM
You're welcome Mackeral! Glad you're discovering options too --- they're the Great Equalizer as far as I'm concerned! Keep us posted on your progress.

ronald howe asks:
I am just learning and paper trading. Should I practice with all three strategies, or just one? Are there strategies to learn other than these?

at 6:52:40 PM
There are MANY strategies, ronald, and ideally you'll come up with your own as you progress in this business. Begin with one, two, or all three basic Strategies and then branch out (or not) as you see fit! You're in for some great times! And please stay in touch!

John asks:
Hi Ken by the "active month" do you mean the front month? (the very next?) Thank you

at 6:53:44 PM
No, John, NOT the front month --- the Active Futures Month is typically that contract with the highest Open Interest (and it's always listed on the Trend Tracker on US Charts online). Thanks.

Adam asks:
When using S-1 Strategy and you start serching for options and the only good options around the money are 60 days away would you still buy them or is it safer to take a pass on this trade?

at 6:56:12 PM
Yes, Adam, the S-1 Strategy is a short-term strategy which means that I'd only consider those options having three months or more time remaining. If not, look to another market. Good question. Thanks.

benrise asks:
Columbia, S.C. Hello Ken!! I am learning to love this business more and more!! Last year on one of my first trades I made 3200% on two Feeder Cattle puts. I paid $125 for each and sold them for $4000 each in less than 60 days! I just wanted to say THANKS for sharing this knowledge with all of us!!

at 6:57:06 PM
Thank YOU for sharing your knowledge with us this evening! You da man! (What strategy were you trading?)

Adam asks:
When using S-1 Strategy, and you get a Strong 1 day signal, would you also consider getting in the futures market instead of buying options, especially if the option premiums are higher then the margin for that commodity? Occasionally I have seen option premiums be twice that of the margin requirement.

at 6:58:44 PM
Yes, you can apply the S-1 Strategy to futures too, Adam. Just realize that you're exposed to UNlimited downside risk . . . .

Michael asks:
Hello Ken, I noticed that some commodities are not listed on TOVI i.e. canola. Why? I realize it is not very active, is that why? Thanks and Merry Christmas to y'all from a Canuck.

at 7:00:20 PM
"Not very active" is part of the problem with Canola, Michael, but more than that, we've had great problems getting consistent and accurate data from the Canadian exchange. I'm hearing that even many brokerages have dropped giving Canola quotes for this reason too. Good question. Thanks!

Durango asks:
Ken, been a course member since '98 and the example you set has truly taught me real patience.i.e. Fair Tax...I never thought I'd see the day when it would finally start to happen.

at 7:01:03 PM
Me too Durango! Isn't life great?! (Did you send that email to all those in your email address book?)

big dick asks:
Hi KEN. Am new at this. Where do I find a reccomended option for a potential trade? Big Dick

at 7:05:37 PM
Hello Dick, and welcome! Two ways: 1) Use the option-picking technique taught in each of my three posted trading Strategies, and/or 2) Use TOVI's option-picking tools!There: I got you covered! Thanks!

NICKDOGS asks:
Do TOVI subscribers have access to the three trading strategies you are talking about?

at 7:06:52 PM
No, but TOVI has its own FOUR basic strategies posted on the TOVI site, along with its own Signal Trackers for two of those four strategies (with Signal Trackers on the other two coming very, very soon now)! See? I got you covered! Let us know your results. Thanks!

trwtrader asks:
Ken, Regarding the Strong 1 Strategy the days in trend are not relevant anymore? This is a change from the old Moderate to Strong Strategy where the Days in Trend and Days in Strength Rating would need to be 1 before entering a trade. It seems that a market in a Trend for several days has the potential to turnaround quicker than one that has only been in a trend for a few days. I take it you have had success trading with this new strategy. Thank you.

at 7:09:27 PM
Yes, trwtrader, I have, and I've also had success with the "old" Moderate-to-Strong (and so have many, many others who have told us so on these Chats). So try both. Note: It's NOT necessarily true that "a market in a Trend for several days" is more likely to turn around quicker. But do try both and see which you prefer! Thanks.

makin money asks:
I have been trading using Trade Tracker together with High-Low Breakout & 123's for about 4 months & I'm up $6,800!!! Not 1 losing trade so far.(I have lost in the past). Patience is a virtue. I have been following these chats for many years and have never heard you more confident about a trading strategy than your new S1!! I may have to try options.

at 7:10:23 PM
Yes! You MUST try option, makin money, at least on paper! Keep us posted please! Thanks.

Twindent asks:
Ken, When you enter a trade on the Strong 1 strategy, do you place your order to buy or sell "at the open". If not, how do you do it?

at 7:11:03 PM
No, Twindent, I place a "limit order" to purchase any option. And then wait . . . . Good question. Thanks!

pjw asks:
Ken, Fellow Libertarian here and Vernon Howard fan to boot (thanks to Four Star books)... Would you consider your mindset and to be awake the most important element to your success in trading?

at 7:13:56 PM
Yes; I'd have to say that your mind makes the difference between consistent success (or failure) in this, or any, business or endeavor. (Have you read Dr. Hawkins' Power vs. Force yet? Trust me, and read it --- also get his CD Workshop set if you can and play these while you're going to sleep at night. What a profound difference this is making for me!) Thanks!

Docta Fill asks:
Howdy from San Leandro, Ca. Thanks for all you (Ken and Crew) do! I'm a little befuddeled on using TOVI to the fullest, but have used it to confirm and monitor trades -- which have been mostly to the good(real $ since April of last year). Question: any prognostication about "in-the-field" TOVI classes upcomming? Happy holidays to all, Docta' Fill.

at 7:15:48 PM
Yes, Docta Fill! But I'll probably do some seminars/workshops here in Grants Pass first to "hone" my presentation and to get some good video recording done before I hit the road. But stay tuned --- it's all just getting better and better! Thanks!

JD asks:
Holiday Greetings Ken, I have been your long time student (VIP Member, Emeritus) and have wrestled with the psychology of the market. What was your learning curve (profit curve-time wise) when you started in the business.

at 7:19:41 PM
Well, JD, I don't have a very good memory for dates and times, but I do know that I knew I had found The World's One Perfect Business --- The World's GREATEST Business --- the moment I first began trading (even though I experienced losses, of course). I'd say that I was well on my way to calling myself a "trader" within three to six months. But remember: It's only about YOU and whatever timeframe that involves. Don't compare yourself to anyone else! Great question. Thanks!

DC asks:
Ken, when placing orders for the S-1, do you ever use an "Or Better" order, or just a "limit" order?

at 7:22:13 PM
A limit order IS an "or better" order, DC. But if you mean do I ever bid LESS than the option's listed price, yes, I do. I consider it a sport!

swan lake asks:
Hi Ken, Great Chat. Keep it "HUMMING "

at 7:24:58 PM
Thanks Swan Lake! (I spoke to Swan Lake this morning and told him how Krista and I went to Sedona, Arizona this past weekend to hear Dr. Hawkins speak on Saturday. We rented a car from Hertz in Phoenix --- and then I saw that they have Hummers for rent!!!!! I've always wanted to drive one. I'm in love now! I love Hummers! They put my Suburban to shame! No swaying, no top-heavy feeling . . . . Everything's great about them! Hey? Anyone out there own a Hummer (H2?). What's your experience been?

onepolyglot asks:
Hi, Ken. With watching the Active month and trading a month farther out, it occurs to me that this might apply to options and not futures. Is that correct? As far as futures go, I'm having success trading the active month using the momentum moderate to strong futures strategy. Thanks. Great to be back after several years and to discover all of this on these tools that weren't around in the old days. Things are making more sense to me now and I realised I didn't paper trade enough back in the old days. I guess the teacher appears when the student is ready. For some reason, I took the old TWMPMM course off of the shelf and read the whole thing through again and then discovered your site. Hooked again! Thanks.

at 7:26:56 PM
Hooray onepolyglot! Welcome back aboard! Yes, ACTIVE month applies to my futures AND options trading. Hey everyone: Notice that onepolyglot is using the Moderate-to-Strong (as opposed to the S-1) trading Strategy featured on TOVI's website. Thanks again!

benrise asks:
Ken, I purchased your 3 tape videos on options and I just bought 2 puts from just using the 50% rule. At the same time the "stupid news" announced "Mad cow disease" and the market plummeted on 12/23/2003 causing a lot of volatility and profits for me!! :o)

at 7:27:45 PM
Thanks benrise. Hey everyone: Did you get his trading strategy here?

Biker1 asks:
Hi Ken: I'm a newbie here in Florida. I started paper trading and entered Corn when you did. Question: If you miss the 1st day of strength strategy, should you wait until that scenario comes up again with another option, or do you have a few days afterward to still make the trade? Thanks Ken.

at 7:29:07 PM
I'm finding (and many traders agree) that you can still enter on the 4th, 5th, or even 6th day (even though the "ideal" is the first day) . . . . Good point. Thanks!

IBEEBUSY asks:
Hi Ken; An Alabama beekeeper that is trying to learn the mac computer and commodities at the same time. Thank you. Years ago I studied your books but was unable to get enough market information in my small town. Now with the WGB online, I hope to find out if Ken Roberts is for real and if commodities trading is for me... Happy Holidays!

at 7:32:40 PM
You will, IBEEBUSY! You'll LOVE it as much as all of us do! You're gonna buzz with excitement! Commodities will "bee" in your bonnet! You'll be hummin away! Those profits will be sweet as honey! (Does the Queen know you're trading?) Okay, I gotta buzz off now, but I have two beehives too! They're in my Genuine Johnny's 2,000-tree apple tree orchard and they're Italian bees! Their honey is fantastic! Thanks for joining us this evening!

Michael asks:
Ken, this may well border on a stupid question, but are all "farther out" options always more expensive than "near month"? Is it because of a larger time value? Thanks

at 7:33:53 PM
Yes, this is generally true, Michael, but not always! It always pays to shop . . . . Not a "stupid question" at all . . . .

tradetracker asks:
tradetracker asks. earlier you stated that when using strategy 1, you do not refer to the charts. that is fasinating, please explain. thank you.

at 7:35:54 PM
Sure: Look at Trend Tracker ONLY. When you see a market's ranking go to Strong with a number one in the Days in Strength Rating, that's a "buy" signal. Then, depending upon your EXIT strategy --- perhaps if that option loses half its value --- you exit. All without looking at a chart! Hope this helps. Thanks!

Biker1 asks:
Hi Ken. When you find what appears to be a good trade in Options, do you ever purchase more than one or two options of the same commodity, or does it make more sense to "spread it around" with several other markets? Thanks

at 7:37:52 PM
Yes, I nearly always purchase at LEAST two options (and/or futures contracts) in any trade, Biker1, so I can "peel them away" if that market moves in my favor, thereby taking profits along the way, but still holding a position for further gains. Good question. Thanks!

pjw asks:
Ken, Fair tax? How 'bout No Tax...would you be willing to give up your favorite government program in exchange for never having to pay income taxes again?!! Thanks for all your help - especially Vernon Howard's book....

at 7:39:32 PM
I surely would, pjw! And that's the plan! FairTax is a consumption tax, not an income-based tax. Check out the Frequently Asked Questions at www.fairtax.org. Thanks!

jebush asks:
Ken, I've noticed people bring up the moderate to strong strategy, and have not seen that one posted on your web site. Will you be bringing hat back? I think all the strategies have merit and complement each other. Thanks and happy holidays to you and crew.

at 7:40:09 PM
Thanks jebush! That strategy is on TOVI's website (www.tovionline.com).

Tracy asks:
Suppose I buy an option using the Strong 1 strategy and the very next day the rating changes to moderate. If the overall direction is still in my favor, I should stay in this trade and stick with the exit plan I came up with before I bought the option, right?

at 7:44:12 PM
ABSOLUTELY RIGHT, Tracy! (And if your exit plan was something different, stick to THAT strategy!) Good one!

Rob asks:
Hi Ken. Thanks for all your help and consistent positive energy. Do you tend to allow yourself different amounts of loss before exiting depending on what strategy you are trading i.e. more loss tolerated on Hi-Lo breakouts vs. less on WGB, 123 and Strong1 or do you tend to exit at half option value regardless?

at 7:45:19 PM
I'd say my exit strategy is consistent in all my trading, no matter which entry strategy I've used.

John asks:
Ken I want to thank you for all your hard work and wisdom and also your team and I wish everybody here tonight MERRY CHRISTMAS AND A GREAT NEW YEAR!!!!!!!!!!!!!!!! John

at 7:45:40 PM
Thanks John! Merry Christmas to you and your family too!

1.2.3 asks:
Hey Ken and gang, thanks for showing us all how to become the "man" instead of just having a "job"!! My question is on the 1,2,3 strategy. When the #2 point is broken and the trend changes to the same direction, would you also want to wait for the trend to change from moderate to strong also, or just the trend changing to the direction that you have been waiting for it to in order to buy?? thx!

at 7:46:36 PM
Just the trend changing is the signal I use, 1.2.3. But give it a try and see how you like it! Let us know! Thanks.

pjw asks:
Ken, Would it be possible for you to divide the Trade Tracker into "real money trades" and have a second section for "paper trades" so I don't have to do the math when doing both?????

at 7:47:04 PM
Yes, we'll soon have multiple portfolios for you to use!

blazingbronco asks:
blazingbronco from hawaii -- Love the new strategy strong 1, keep up the good work

at 7:49:34 PM
Yahoo, blazingbronco! Thanks!

Ron From Alaska asks:
Ken: I have been your student for 4 years now. I have won a little and lost a little more until late last year when I shorted Feeders on it's way up and had 8 open positions while that market went limit up for 5 days in a row. The market was irrational longer than I was solvent. Towards the end I converted my position to options and stayed with it long enough to only lose about 60K. On Jan 1 2004, my trade tracker profit/loss was -$60,000. Today it is +45,000. I started accumulating O J a bit early and had 20 deep in the money options when it ran up and I took 56K in profit just shy of the recent top. I recently sold my 5 Coffee positions for about 30K profit and made money in a few other markets. I am currently active in 9 markets and watching 3 others, and loving it. I always knew that I was going to make this thing work. Thanks! Ron

at 7:51:49 PM
So when are you really going to get serious about this business Ron?! That's fantastic. And I know many people reading this will gain LOTS of GOLD from your comments here. Proud to have you aboard with us, and please stay in touch. Thanks again.

onepolyglot asks:
The only other question I have now then is this: If I'm trading a futures contract farther out than the Active Month, how do I tell my broker where I want stops placed? Can I have him, let's say, liquidate my march contract when the january contract hits a certain price? Confusing. Thanks again.

at 7:54:34 PM
Yes you can, onepolyglot! And this is where a great broker earns his or her commission. I use what I call "silent" stops, where my broker knows what price on the Active Futures Month I'm waiting to get hit, and when it does, he places the order. Good question. Thanks.

jim asks:
Hi Ken, I have my first option trades in. My first few trades have not been moving much in the right direction, they seem to pull back some. Question is, does the P/L column include the "in the money" portion of the profit? Jim

at 7:55:20 PM
Yes, jim, "intrinsic value" is included in any option's current premium.

Just another reminder to keep your eyes peeled for my Survey Results email I'll be sending out soon. Congratulations to our 10 Winners posted here this evening (and chosen at random by a computer program called a "randomizer")! Hope you're enjoying all the emails I'm sending lately --- I sure do love creating them for you as well as your responses! Thank you!

Jim from Kalamazoo, MI asks:
Is you WGB area the only way to learn about S-1 and Hi-LO? I was another person whose got the Twmpmm I back in '98.

at 7:58:41 PM
Yes, Jim, or call a Course Counselor to set you up as a Course Member again! Welcome back!

jk asks:
Ken,Just a comment. I originally intended to order a commodities course. I recieved The Rich Mans Secret Course instead! WOW! What a GREAT prerequisite to the rest of youre courses. Thank you & your staff. Happy Holidays!

at 8:00:04 PM
That's the RIGHT way to begin, jk! Congratulations! If our mind's in control our trading suffers. It's all mental . . . .

Well that's it for another month --- and this year! 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 and www.fairtax.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, January 11th (The next TOVI Chat is Tuesday, January 4th!). Merry Christmas, Happy Holidays, Happy New Year, and as always: Use these newfound powers only for Good. Good night, God bless, and watch where you step!

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