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TWMPMM I Review
Written by a commodity broker/former Ken
Roberts course counselor
This course was originally written and
marketed in 1983 and then updated in 1998. The course includes a manual, which
is approximately 280 pages, a paper trading video, audiocassettes, 1 set on
charts, a 3-month subscription to his monthly newsletter and weekly alertline.
The first half of the course teaches some of
the basics about the futures market. It goes over terms, price fluctuations,
historical and fundamental reasons for open market out cry and what part
speculators play in the markets. In the second half Ken reviews "his"
technical trading strategies which consist of two major chart patterns. I put
the term "his" in quotation markets because the patterns that Ken
Roberts teaches have been used for decades in the stock market. He just applied
them to the commodity markets. Even tough they were not designed for the futures
market they are based on support and resistance which most good technical
indicators are based on. What Ken Roberts did do, which not many people have
done, is present it in a way that the novice investor could understand. He
doesn't try to complicate his teaching by using the sometimes intimidating
In my opinion the program does have a few
short comings. First, it does not go over money management. Money management is
crucial to your long term survival as an investor. Second, TWMPMM is vague on
what to do once you are in the market... when to move protective exit orders..
or even how to work profit target orders. 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 trade and develop
your 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 gives you two
technically sound indicators. The program has good support through his course
counseling department. There is no charge for the course counseling service, but
the call is not a toll free number. Ken Roberts stands behind his product
and his return policy.
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 this system vary. As with most
written material, when 10 people read it, there will be 10 different
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 it's not for you before you
invest your money.
site for Ken Roberts trading techniques.
Robert's on Ebay
There is risk of loss in futures trading. Past results are not indicative of