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I purchased the Ken Roberts course in 1996. Beginning back then, I paper traded extensively. Every morning at 5:00 a.m., I would get up and take my Wall Street Journal, turn it to the Commodities section, and start doing my own personal paper trading. I traded almost all of the grains, sugar, coffee, cocoa, the dollar, franc, Canadian dollar, euro, etc., writing down the high, low, and close for several contract months for every commodity. That way, I began to learn the flow of each commodity. The first thing I purchased, since I was very low on cash, was a gold option. I was so scared when I purchased it, but used what I had been told, decided gold was the way to go, purchased the option for $150, and sold it in three days for $450. I was so exuberant! This really worked! Later, I purchased a corn contract when it formed a 1-2-3 top, almost got stopped out when it formed the second top, then went on to make a few hundred dollars. I was encouraged because I was learning, and it hadn't cost me anything. Trading can be exciting and lots of fun.
On the other hand, I learned that when you don't trade within your system, you lose, and you lose very fast. I lost $6000 during the year after 911.
That was a lot of money to me. Of course, the markets were so crazy at that time, I shouldn't have been trading at all, but should have stood aside until things settled down. I imagine more experienced traders made a killing back then, but I was not one of them.
In regard to the Ken Roberts Manuals, they are a great way to introduce people to the commodities markets. Paper trading is essential. Anyone who is truly interested in making money, but has little start-up capital, should first learn how to trade options to control their losses. Once you learn to trade options, then you might consider trading contracts and using options for stop losses. There are so many different ways to trade, and education is the only answer to learning to trade successfully, that and paper trading until you feel confident enough to pull the trigger. If you never gather the confidence to pull the trigger, you won't have lost anything but time, but gained a lot in patience and knowledge.
In regard to the companies that Ken Roberts ran ( I understand through other posts here that Ken Roberts' no longer runs the company), they were fine for what they were. They provided information and supplies, and that is what a true student needs. Any true student will extend their knowledge base past their kindergarten teacher, and that is what Ken Roberts was for the novice.
All in all, if I had it to do all over again, I would buy the Ken Roberts course in a heartbeat. I do still plan to trade again. I never had more fun in my life. Thanks all.
If you want to ask me about my experience, I don't mind. EMAIL: writeschk2001@yahoo.com
Frances
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