Ken Roberts

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 industry terms. 

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 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 it's not for you before you invest your money.

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There is risk of loss in futures trading. Past results are not indicative of future results.