Mark Minervini...Legit or Not?

[Sekiyo]

I don’t know about the man itself,
But the principles are sound and shared.

From Livermore to O’Neil.

Every trader has his own strategy,
Because we’re all unique human being.

You might never trade like him,
Not worse nor better but your own.

You need the principles,
Design your strategy around it.

Practice makes perfect.

 

[longandshort]

Do you not believe the US investing championship is legit?

They aren’t … I believe someone posted previously about the major conflicts of interest. How isn’t Mark worth at least $100MM or something in that order? Seriously.

 

[deaddog]

They aren’t … I believe someone posted previously about the major conflicts of interest. How isn’t Mark worth at least $100MM or something in that order? Seriously.

I haven't seen those posts. I actually haven't seen much negativity about the contest. The results are published in major news papers and a google search doesn't seem to bring up anything scammy. You would think with all the self appointed watchdogs out there that anything fishy would be over reported.

As for why he isn't compounding into the billions probably has to do with liquidity. Maybe he spends some of what he makes.

 

[KGTrader4]

I can't find it now, but I follow him on Twitter and a few weeks ago, and was heavily bullish. I haven't seen any recent updates about his bias, but I found it interesting.

Right now, it seems like lots of marco guys are super bearish, and how can you not be, but there are also many pros that are bullish. Its a very interesting time.

his current stance is that we are closer to the end than the beginning of this shitshow. I also follow him, and a bunch of others on FinTwit. The fact that so many serious traders, fpbith full time and otherwise, follow him and give him props for teaching them gives him credibility in my eye.
I’ve read his (I think) second book, Think and Trad Like a Champion, and I recommend it

 

[Sekiyo]

He often appears on IBD live.
Here he talks about his screening process.

I’ve tried to read his books but I gave up.
Much prefer his interviews.

 

[KGTrader4]

There are tons of interviews on you tube, with Mark, and with his #2=man, Mark Ritchie, a successful trader in his own right and a protege of Mark.
Richard Moglen does terrific interviews of a lot of successful traders including Minervini go to YouTube and search on Trader Lion, or Richard Moglen

 

[TrAndy2022]

From what I have read here it does not seem it is fully disclosed with all rules or there is still a lot of room of interpretation. Otherwise the stock screening process is too simple to get a decent return from it alone when implementing it. I also tried Portfolio123 with various of those famous traders and the performance going walk-forward out-of-sample was not better than SPY or QQQ Buyandhold approach. So I see no value here. Anyone knows if his rules are complete publicly available and has it already backtested it too ? Or is he to some extent a discretionary trader too ?

 

[Sekiyo]

From what I have read here it does not seem it is fully disclosed with all rules or there is still a lot of room of interpretation. Otherwise the stock screening process is too simple to get a decent return from it alone when implementing it. I also tried Portfolio123 with various of those famous traders and the performance going walk-forward out-of-sample was not better than SPY or QQQ Buyandhold approach. So I see no value here. Anyone knows if his rules are complete publicly available and has it already backtested it too ? Or is he to some extent a discretionary trader too ?

He’s a discretionary trader.

The screening process is just about filtering,
These are only potential candidates, qualifiers.

He has different setups,
The two I am aware of are the VCP + Powerplay.

This is pattern recognition among the qualifiers.
He won’t trade them everytime, everywhere,
Depending on the health of the market.

Then you have the Entry, Risk Management and Exit rules + some other unkowns based on experience.

Checkout Tom Basso for systematic trend following.

 

[TrAndy2022]

If tis more discretionary as it looked liked to me prior just to confirm your view, then it does not make much sense to view his rules or books because you cannot copycat it or something like that. But this is just my opinion. I do not say he is not a good trader. But I do not like his promotions and education business. It just makes a flavor I do not like. But hey, if it is discretionary he cannot say fo himself how his success is done, it will be a kind of magic for him and his clients too.

 

[Sekiyo]

If tis more discretionary as it looked liked to me prior just to confirm your view, then it does not make much sense to view his rules or books because you cannot copycat it or something like that. But this is just my opinion. I do not say he is not a good trader. But I do not like his promotions and education business. It just makes a flavor I do not like. But hey, if it is discretionary he cannot say fo himself how his success is done, it will be a kind of magic for him and his clients too.

I believe the principles are there.
It’s up to you to build around these.

You’ll never make money from Copycatin’
You’ll never know what’s within your hands,
What’s the weakness, strength of your edge.

You need to know the inside outs.
You need to fix and build upon failures.

If you don’t want to learn then buy an index fund.
Or follow disposable traders on Etoro.

Would you fly a copycat plane ?
Likely there is something wrong with it.

If you implement a simple filter based on the broader market, sectors or industries for a trend following system then you can greatly improve the performance.

But it’s not your copycat that’ll tell you this.