Re: [TheOptionClub.com] terry's tips

 

100% agree with Jack about money management. Terry's portfolios are 100% invested in leveraged instruments with no cash cushion in case something goes the wrong way. Many of his portfolios have gone to 0 or 10% of their original value. Then he closes them and comes up with new ones.

Also Terry has been accused of fraud by the sec?:

http://www.sec.gov/litigation/litreleases/2006/lr19725.htm

--- In OptionClub@yahoogroups.com, "jackcrawford72" <jack@...> wrote:
>
>
> 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 :-)Â so if you don't get the 70% part right then you
> don't have a
> > chance making it long term. Â
> > Â
> > 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.Â
> 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).
> > Â
> > 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.
> > Â
> > 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.
> > Â
> > Joey
> >
> >
> >
> >
> > On February 26, 2010 at 7:18 AM Alexander S alexstjo@ wrote:
> >
> >
> > > Â
> > >
> > >
> > > Hi,
> > >
> > > I was wondering if anyone is using terrystips.com mighty mesa
> strategy
> > >
> > >
> >
>

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