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@mac.com> wrote:
Hi,
I was wondering if anyone is using terrystips.com mighty mesa strategy
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