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Wednesday, July 25, 2012

Trading Scam : Ken Robert

Ken Roberts Review

Ken Roberts, in my opinion, is just another famous vendor of hype.

A college drop-out and former life insurance salesman, Ken Roberts persuades investors that with an initial capital of only $1000, they can become victorious traders.

Roberts published a mail-order book in 1983 called "The World's Most Powerful Money Manual & Course". It contains tips and policies about futures and about getting anything you want, be it mentally, physically or spiritually out of life.

He claims to have sold over 300,000 copies at $195 each, which works out to nearly $60 million. Roberts charges $2,695 for his advanced trading seminar, and states that futures trading is one of the world's greatest businesses.

He hawks trading charts, a newsletter, a course on options and his novel, The Rich Man's Secret.

Ken Robert's course does not give any extraordinary information at all. It is cheaper and simply easier to collect information from any local library or book store.

The facts mentioned in the course is available in other free manuals and books, hence it is not worth wasting money on this course.

He has made good money from high commissions of his brokerage firm, but not from commodity marketing.

People who are buying Robert's program on commodity business are not very successful.

Even Ken Robert admits that 95% of the commodity marketers fail to gain money, but still he tries to sell his program by spreading the idea that commodity business is a very simple way to earn money.

I believe that it is very apparent that Ken Roberts is more keen on selling and promoting his course than implementing them in the actually commodity market.

Ken also owns a California brokerage firm called Main Street Trading. Many small active traders are losing money, because of the high commission charges ($95 a trade).

This hype has definitely earned Ken Roberts millions of dollars, and an Oregon mansion with a cigar room, but customer's mansions are no where to be seen.

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Trading systems and strategies are out there for sales. If we believe in such, then the choice is ours. The reason why many falling into such 'too good to be true' stories is due to GREED.

It is true that newbies and novices should LEARN before they move into markets ... so, it is 'easy' for them to be lured into rumours ... using forums, e-mail, sms ... any form to prick that GREED in those ignorant punters, especially those losers. Yes ... losing money and losing more to the trainers or systems they are selling.

Until traders using their OWN LOGIC ... to learn and increase their own knowledge, stay smart ... and gain experiences(of winning and losing), no one could help them to be logical.

By the way, Ken Roberts being mentioned by Russells Sands as a scam.

TEH

1 comment:

Peter Fotopoulos said...

In the early to mid 90s I was a Registered Commodity Representative with Lind-Waldock & Company; at the time the world's largest discount commission commodity futures firm. I watched many Ken Roberts students get blown out of the market within a few weeks because they took stupid positions, often in wildly volatile contracts like lumber. Roberts is infamous for hyping get-rich-by-trading-futures bs. My firm turned away a lot of potential clients, telling them they didn't have sufficient income and liquid net worth to be trading futures and futures options. I remember receiving a Ken Roberts marketing brochure in the mail that showed how much in income tax he had to pay the IRS in the previous year, as if the amount was profits on trading, not selling his scam program to credulous fools and referring them to high-commission brokers. I remember confronting Roberts at a futures trading conference in Chicago. He was an idiot who didn't even know that you could have your option automatically exercised into a futures contract and get slaughtered. He was hyping silver options and din't even know what the limit move on the futures contract was. Roberts is a shameless huckster who preys upon gullible, ignorant people who have no idea what they're getting into.