Re: [TheOptionClub.com] terry's tips

 

Trading is 70% Money Management, 20% System, 5% avoiding emotion, 5% dumb luck :-)  so if you don't get the 70% part right then you don't have a chance making it long term.  

Joey,
Would you care to share your Money Management rules?  It seems like you have been doing this for quite a few years and probably have some good advice.  Maybe a good reference.

Thanks, Jack

--- In OptionClub@yahoogroups.com, Joey Huckabee <trading.ocyg@...> wrote:
>
> I paid for Terry's tips around 2000-2003 before the "mighty mesa strategy" was
> "invented" and can say that Terry's program is a very poor example of trade
> management.  He claims to have years of experience but back then he certainly
> did not convey very much of the experience that I would expect to see.  Over the
> last nine years that I have been studying the art of trading I believe that I
> have come to the appropriate conclusions that brought me to this group in the
> first place.  Trading is 70% Money Management, 20% System, 5% avoiding emotion,
> 5% dumb luck :-)  so if you don't get the 70% part right then you don't have a
> chance making it long term.  
>  
> With Terry's Tips I monitored his 10K strategy for 3 years and watched as
> members lost there entire $10,000 balance for three straight years simply
> because the 10K system did not provide any stop loss and frequently took 100%
> losses on positions that were put on and even "doubled down" at times that ended
> up worse than if you just stuck with the initial capital invested.  The only
> reason I post these disparaging remarks is because the time period that I
> monitored his trades was a very volatile time, not unlike what we are in now,
> which caused his indicators to change directions then get whipsawed.  He went
> through a period of giving out free memberships to existing members because of
> the extreme losses (I received two years free).
>  
> No as for the "mighty mesa strategy" if I remember correctly it was just a bunch
> of calendar spreads (or double diagonals) that required a huge amount of capital
> locked up in a single trade which would expose those of us with small bank rolls
> to enormous amount of risk.  So unless that has changed I would say that Terry
> is still consistently breaking even or losing money and making money with his
> advisory service.
>  
> On a side note - everyone that posted "if you could make a ton of money through
> an advisory service then wall street would be in trouble" it really does ring
> true.
>  
> Joey
>
>
>
>
> On February 26, 2010 at 7:18 AM Alexander S alexstjo@... wrote:
>
>
> >  
> >
> >
> > Hi,
> >
> > I was wondering if anyone is using terrystips.com mighty mesa strategy
> >
> >
>

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