Mark Minervini...Legit or Not?

Rams Fan said:
Like @deaddog said, I'd like see someone read, study, and put into to practice what is taught in those books and fail as a trader. It would be nearly impossible.
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I'm a year into that journey, have Marketsmith and spend 3-5 hours a day trading, reading, etc and have yet to make a nickel. His trades don't exactly follow the pristine templates of his books though I've followed him during a hard penny trading environment. But what the books leave out is that the market works 24 hours a day and is mostly looking to fuck you - escalator up and elevator down.

I think the first two books are superb, the best I've read, his daily commentaries on Twitter are excellent but my assessment is that it could take six years to master what he's doing. Mark Ritchie attended the seminars for 10 years before he got his wings. I wouldn't go to one of his seminars even if it were free; I can't hold onto to something if it's shot at me from a cannon. But let's be honest, there isn't a lot of sound advice out there and I think Minervini net/net is the real deal.
 
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The guy has 40 years in the trenches trading,trying to figure out when to go long and when to go short. Something like that cant be poo poo'd.
 
That’s what being said about his performance in Market Wizards

220% average over 5 1/2 years from 94 to 99

IMG_8341.jpeg


Beside the returns from investing championships, it looks like that’s the only public records.
 
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ms33 said:
But what the books leave out is that the market works 24 hours a day and is mostly looking to fuck you - escalator up and elevator down.
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It's not, though, so I don't think that belief is going to help you.

The market is neutral and only exists to facilitate trading. A liquid market does this very well giving you ample opportunity to enter and exit pretty much whenever and wherever you want.

If anyone's getting f**ked in the market it's by their own doing and usually it comes from playing without any rational expectation of being able to make a profit. Often, this would materialize itself as buying highs and selling lows after the market "confirmed" its direction and is just about to reverse.

So, if you're getting f**ked a lot you should simply start buying where you would usually sell and vice versa. Problem solved... :)
 
Laissez Faire said:
So, if you're getting f**ked a lot you should simply start buying where you would usually sell and vice versa. Problem solved... :)
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Probably not. I'll bet the problem is cashing in winning trades too quickly and holding losers too long. Fear & Greed at work!!
 
Sekiyo said:
That’s what being said about his performance in Market Wizards

220% average over 5 1/2 years from 94 to 99

View attachment 314133

Beside the returns from investing championships, it looks like that’s the only public records.
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My bad. I didn't read 128% return as belonging to his 1994-1999 period. Mark Ritchie recently tweeted an audited 36% annual return over eleven years from 2011 to 2021; Minervini has to be somewhat north of that. Will check my recall of these numbers.

https://twitter.com/x/status/1526204860231823361
 
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deaddog said:
Probably not. I'll bet the problem is cashing in winning trades too quickly and holding losers too long. Fear & Greed at work!!
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For sure. It can help on the entry part, though. If you always wait until it's too late you're usually getting shit entries. Unless you're trading breakouts where they can actually be successful. I imagine single stocks are different from indices here.

As for your quote, it's pretty much the only thing I changed in my own trading this year and which seems to make me able to make some money. I cut my losses and ride my winners. In the past, I would cut my losses, sometimes let them become too big and invariably I would always take profits too soon.
 
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