Written by a commodity broker/ former Ken Roberts course
This course was originally written and marketed in 1983, then it was updated
in 1998. This course includes a 280 page manual, a commodity paper
trading video, audiocassettes, 1 set of futures charts, a 3-month subscription
to Ken Roberts newsletter and weekly alert line.
The first half of the course teaches some of the basics about the futures
market. It goes over commodity terms, market price fluctuations,
historical and fundamental reasons for "open market out-cry", and
which part speculators play in stabilizing the commodity markets.
The second half of Ken Roberts course covers "his" technical
trading strategies, and how you can profit by trading in the commodity
markets. I put the term "his" in quotation marks because,
both commodity chart indicators that Ken Roberts teaches about have been used
for decades in the stock market. Ken Just applied them to the commodity
markets. Even though these technical indicators were not designed
specifically for the futures market, they are based on support and resistance,
which most proven technical indicators use. What Ken Roberts did do ,
which few people have, is present it in a way than the beginning commodity
trader can understand. You don't have to have a bachelors of science
degree in economics to be a profitable investor in the commodity markets.
In my professional opinion, his commodity course does have a few short
comings. First, Ken Roberts fails to explain the most crucial side of
trading futures, money management. Second, He is very clear on how to enter a
market, but doesn't discuss what to do once you are in the market...when to move
protective exit orders, or profit objection orders. Which is unfortunate,
because one of the biggest mistakes I see new traders make is not having a
"complete" trading plan prior to entering the market. As with
any trading strategy or system, it is critical to paper-trading and develop you
own style based on comfort level, knowledge, and finances.
Overall Ken's course is a good intro into the markets. It breaks the
market down into very simple terms, and fives you two technically sound
indicators. The program has good support through his course counseling
department. There is non charge for the course counseling service, but the
call is not a toll-free number.
Through the thousands of Ken Roberts students that I have come in contact
with (being a course counselor with the Ken Roberts Company, and a commodity
broker) the results of his system vary. As with most written material,
when 10 people read it, there will be 10 different interpretations.
I have found with futures and in life " the more you practice, the
better you'll be". Remember to paper-trade. It's better to find
out trading commodities is not for you before you invest your money.