The real trick is when you're not using the tailstock to make sure the wooden MT is jammed in the headstock nice and tight and then keep the cuts/pressure going towards the headstock as much as possible. I actually turned two today and the first one (pictured) stayed nice and tight the whole time, the second one kept wiggling out of the headstock and I had to stop and catch it. If I had a cup center I probably would have put it in place as a failsafe.
I made a guide for turning the MT with a bottom piece of wood which I glued one perpendicular piece, then grabbed of on my drive centers and used it as a guide to glue a second piece of wood to form a MT#2 shaped gap. I used hot glue to do this gluing so it took minutes to make. Then I trimmed it all nice on the bandsaw just because. I use the skew in scrape mode to shape the MT because it's easier to form a nice straight taper. A week ago I hosted a shop meeting of my local woodturners group - the project was mini candle holders. The guy who did most of the teaching had suggested the turned MT approach instead of a chuck, not having a chuck spinning around can be less intimidating for some, plus some of the members don't have a chuck yet so this let them go home and play that day without needing to buy anything more. I had forgotten about the wooden MT approach and remembered today I had used it before to turn eggs.