For me, I accept your response on its face and have now put it in the past. Perhaps I overreacted, or it is just the product of reading someone else's email in a mental tone of voice that the emailer did not even intend. One of the negatives of our technology age I guess.
The goal of the group, as you have said, is providing helpful responses to those who may have run into a situation they need help with or are just trying to educate themselves, and to that end I welcome your perspective and I can always learn from someone else's experiences.
Good trading to you!
Ken
From: OptionClub@yahoogro
Sent: Tuesday, March 02, 2010 11:21 AM
To: OptionClub@yahoogro
Subject: Re: [TheOptionClub.
Ken,
I wish I was superior, I'm just a mediocre guy, product of the public school as well. No disrespect was meant to you or anyone else & please excuse any negative criticism of your abilities or education that you or anyone maybe reading into my posting. I did not realize this would be so provocative.
From the many helpful responses received as well as my experience in attempting to apply the formula or a derivative of it, I've concluded that its the concept rather than zeroing in to an exact calculated % that is important. I simply strive for a max loss = +-2.5% of risk capital or preset loss per trade as an exit. Easy to say but not easy to do.
In the future I will be a little more carefull and direct in any posting.
From: Kenneth Ginsberg <ken_ginsberg@
To: OptionClub@yahoogro
Sent: Mon, March 1, 2010 7:06:01 PM
Subject: RE: [TheOptionClub.
My expectancy is that someone who feels themselves so superior to others to post a message like this doesn't really care what anyone else's expectancy is. I bow to your incredible genius and humble myself at your feet for being able to type in this formula from memory. I guess my 30+ years of successful trading, my securities and options principals licenses, my trading desk managers license and my FINOP license do not qualify me for trading because I am not able to decipher a formula you post with no context, and my education was in our so-called mediocre public education system.
What arrogance and gall you exhibit.
Thanks for your well thought out and significant contribution to the group.
From: OptionClub@yahoogro ups.com [mailto:OptionClub@ yahoogroups. com] On Behalf Of Migo1
Sent: Sunday, February 28, 2010 8:01 AM
To: OptionClub@yahoogro ups.com
Subject: [TheOptionClub. com] Money Management
F = [ {(A + 1) X p}-1 ] / A
If you don't know what this is, stop trading, and don't start until you have read "A trader's Money Management System by Bennet A. McDowell.
If you are a product of our less than mediocre public education and are intimidated by this formula, don't worry it is simple, however if you cant understand it, you should permanently stop trading.
So what is your expectancy ?
From: anatolemclubs <anatolemclubs@ yahoo.com>
To: OptionClub@yahoogro ups.com
Sent: Sat, February 27, 2010 10:10:02 PM
Subject: 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@yahoogro ups.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@yahoogro ups.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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