Tortoise and the Hare Technique

T and H technique has intrigued me since hearing Gary explain how the process works. Has anyone tried, or is anyone presently doing this technique? I am seriously considering giving it a shot. I know it is very risky and as a trader, you better know what you are doing, or a ton of money could be lost. Honestly, I do not know why I have not tried this concept a bit earlier- especially after finding a couple of consistencies in a couple of my expert stocks.

I am going to think about this, and I will listen to the CD that covers this technique. I remember Gary suggested opening a seperate account with $2500 and go "All In" once a month. The one thing my trading style will not produce is, 40% every trade. That part of the process I will not push. When my exit criteria presents, I am out whether it was 10%, 20% or more. I will use that entire basket for every trade.

There are a few things that make this kind of trade an almost" must do" for me:

1. I have a consistency in one stock that happens EVERY month and usually runs more than 20% each time.
2. The exit criteria is the same as with any other trade
3. I am still make my traditional weekly trades as usual
4. If when going "All In" and the stock turns against me, I know when to get out without getting whipsawed.
5. I want to have retirement choice by 50 and quit my job

The one thing that I encourage is what I am going to do before trying this technique. Can you guess what that might be? Yes, PRACTICE IT!
If I get chewed up and spit out in practice, I will probably lose a ton a real money. In practice, I will expedite the process and place a minumum of 2 trades a month (preferrably 3).

T&H has always intrigued me as well, but have never tried it. Good luck!

Rookie,

I say go for it. You seem to have a very reliable method of trading. Why not do it? What do you really have to lose? You stick to your rules and don't take large losses. Just don't forget about the vomit stage.

My question to you is, how will you achieve retirement choice since, "Nobody retires from the trading leg!"? I'm not sure how old you are but if you start with, say $10,000 and gain 5%/month in W&O trades, it doesn't take many years to get to where you are making $6,000-$10,000/month - especially if you are contributing to that from the trading leg.

Are you working towards that?

None of my business, of course, but this forum talks so much about the trading leg that I wonder what people are working towards since fully funded W&O is the real goal.

By the way, though I have been away form this forum for a while, I was happy to see that Darcy is apparently doing W&O trades now. Her trading ability is so great, and her willingness to share with us here, that we all can't help but profit.

Best wishes on your T&H. Personally, with your recent successes, a year from now you will be kicking yourself if you don't try it. Heck, you might even be able to fully fund W&O within a year if your current methods continue working for you.

Kars

Kars,
You are correct. If a person tries to retire from the trading leg, he/she could lose everything (As Darcy gave an example). My issue right now is FEAR! I am scared to try something different. This is one of the only things that has worked well in my life, but I made so many sacrifices to get here. A couple of years ago,I built a $2500 basket to $7000 in about 3 months, but within the following two weeks, I lost it all. I almost lost another basket but stopped and practiced. I have built that basket to what it is now.

I certainly have the funds to start W and O, but I just can not fathom the thought of risking a large portion of my basket again. Those of us who have lost baskets have different monsters that will always dwell inside. We keep them in their proper places, but they are imbeded inside. When I lost my basket, it nearly killed my wife. As she wept, she stated, " Do not give up. This is what you are destined to do. Keep trying. You will get it". I have since told her that I would have acted the total opposite. The only consistency is, I would have wept crocodile tears also, but I would have said, "You did what? You lost our money in the stock market! The Market Makers have it? Ohhh! H-ll no! Well, I suggest either you call Mr. Maker and his brothes and tell them that your husband is looking for them, or give me their numbers because I am bout to open a can of "Whup A-s". Just joking....

Kars, I appreciate you giving me some things to think about. Again, I appreciate all of you and what you bring to this forum.

What I do is I have $20,000.00 in my trading basket. All my profit is in a interst bearing trading account different than my trading account. I chose 3 stocks I would like to buy with real money. Right now I have AAPL in my virtual trading account.

As I practiced W/O I realised I needed more than 200 shares of any stock to be happy with the amount of profit. So I looked at stocks that have wekly options and that move $'s in a week.

I also chose those that had gaps on the daily since I love gaps. AAPL has been one my best Printing Press picks. I only sell 5 contracts although I have 700 shares in my virtual account. I STO using the gaps using weekly options. So far this year it has really been great.