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John,
I too had the same experience as you with KR. I got psyched up and became
very interested in a systematic approach to trading commodities. What
source are you using to generate computer 1-2-3 patterns?
Thanks,
TB
-----Original Message-----
From: John Cappello <jvc689@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Saturday, January 31, 1998 5:18 AM
Subject: Re: What's the deal with Ken Roberts?-My Opinion
>
>Dear Walt and Others,
>
>My experience with Ken Roberts:
>
>1.The course got me pshched up about commodities.
>
>2.The course itself has too many flaws too numerous to mention.
>
>3.I am still intrigued by 1-2-3 patterns and think I have located a source
that computer generates them for my further study.
>
>4.Robert's credibility hit a low for me when in his promotion he reported
his substantial income without distinguishing between his trading profits
,his course profits,or brokrage profits.
>
>5.Despite all of the above,I still regard the money I spent as the best
educational investmemt I ever made.
>
>Regards,
>John
>
>
>
>
>------------------ Reply Separator --------------------
>Originally From: Walt Downs <knight@xxxxxxxxxxxx>
>Subject: Re: What's the deal with Ken Roberts?
>Date: 01/31/98 01:10am
>
>
>Michael Ferguson wrote:
>>
>> Well, that's my 2/32, I'll just push return and visit the fire
>> extinguisher for a mug up.
>>
>> Inflammably,
>> Michael
>
>Michael,
>
>I don't disagree with the technical fundamentals that Roberts mentions.
>
>I do have a problem with how he presents it. :)
>
>1. Nowhere in his literature does Roberts ever mention money management.
>
>To adequately trade these strategies would require an account of
>$100,000 dollars or more, in order to survive the max drawdowns
>(Remember, you'd be trading a portfolio of markets here.).
>
>Trading this methodology with a $5000.00 account is suicide (IMHO).
>
>Mr. Roberts also speaks in glowing terms of inverted pyramid trading.
>Think about that for a second.
>
>I respect your opinion. It is well thought and well put. However, the
>question I would ask is, do you feel this knowledge is worth $299 ?
>
>Are there not many books on technical analysis AND money management
>that address these techniques for a fraction of what Mr. Roberts
>charges ?
>
>A far better bargain would be Curtis Arnold's PPS trading book, which
>addresses these issues in a much more realistic fashion. ($45.00 )
>Arnold backs up his claims with statistical testing, good money
>management, and the technique is still simple and very tradable.
>
>Allow me to mention an interesting item here:
>
>I used to spend time on the FUTRES MAG commodity chat forum. They have
>a Ken Roberts trading area. In response to a post in which I voiced
>some of my doubts about the veracity of Mr. Robert's generalities,
>a trader on that forum told me how utterely WRONG I was, and that
>he currently held a position in the Gold market in which he carried
>a $15,000 dollar profit. ($5000 initial account)
>
>This trader had multiplied his long futures gains by inverted
>pyramiding. He held multiple contracts. He told me he would be moving
>his stops up closer in a week or so.
>
>One day later, Gold had the biggest one day drop it had experienced
>in five years, followed by 2 more days of savage decline, before Gold
>found support.
>
>I never heard from that trader again.
>
>That's a true story Mike. I just don't think Ken adequately prepares
>his students.
>
>Walt :)
>
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