Mark Minervini...Legit or Not?
- Thread starter proftradingjourney
- Start date
What I really do not understand it, selling as salesman doing the marketing and trading are totally different tasks which both needs a lot of time to be learnt. Why such successful traders and any educator at all spends his time not with trading and researching alone but with selling courses, books, etc. I mean that time should be spent more worthwhile on any trading efforts. I do not get it here, because being a salesman is totally different profession.
No one’s asking you to buy into it.
There’s nothing wrong about having multiple income streams.
Why is it fine for actors, singers or sport players to diversify but when it comes to trading then everyone is bitchin’ about it ?
Being a trader isn’t the ultimate endeavor.
What if he likes coaching ?! Or gardening ?!
WTF
Ego. What's the joy in being a great trader if no one knows.
If you are successful then I imagine you get a lot of "How do you manage to do that?". If you charge enough then the requests go down.
How much would people spend to have lunch with Buffet. Lot's of people think that wisdom might rub off.
Makes me think of why Jesse Livermore back in the day came forward with his methodology, he must've really believed in the convictions of his method and had a passion to share it. Every new strategy, innovation has come from somewhere. Of course there is a monetary aspect as well in wanting to make money off of the books, resources, but there's nothing wrong with this so long as it's not evidently BS and marketing gimmicks. To the question of why someone like Mark would want to give their edge away, well, it's not like they tell you exactly what they do, how they trade verbatum, it's more of a guide, a beginning point of reference for one to use, hone and make their own. Frankly, I don't want a verbatum method.
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I think this comes more that trading gets boring when you always trade the same size. After a few years the returns get lower and lower to the equity one is already having. So instead or risking more or working on some other strategies which are more scalable a few decide to share their success and methods with customers who pay. If it was free for all then it might little bit different, but it is for sale. But as I already spent some time to analyze some of such famous gurus I can say you do not get rich by copycat them or even as a starting point for your own research. What works for them usually does not work for you. So in the end it is only a money show for their egos. So you are right this nothing about showing how big are their egos. So what... ?
If anyone thinks Minervini or other gurus are worth to read, I would say just make a shortcut and backtest their strategies within portfolio123, which is the gold standard for creating any kind of fundamental strategies (in addition with some technicals too). I tested many of such famous persons and I bet you cannot beat buyandhold SPY or QQQ. Spent a lot of time there is does not make any sense, only technical strategies were really successful (for me). And there a lot of vendors out there who are really experts with portfolio123 who even have much worse results. To anyone who believes in any value of Minervini or other gurus I just suggest backtest it go walk-forward out-of-sample after it then you can say more. Anything else is BS. Sorry to say that.
Can't tell if this was directed at me but that webinar was totally free. I did however, buy his books the other day.
With books you do not get nowhere. Just backtest their ideas. If you want to extract their rules out from the book, that is more time consuming as it is already done if you make a seach over google. Go and backtest it all. There are many such gurus. Then you will see if it is worthwhile for you or not.
I'm not familiar with portfolio 123. How does that work?