Minervini stock criteria

nwoptions said:
Thanks for the reply. I was thinking about combining his entry criteria with the following Investor Business Daily sell rules:

Take profit at 20-25%
Set a stop loss at 8% below the entry price.

Do these rules sound good to you?
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that sounds close to what he recommends.

He mentioned in one of his webinars that after going over past trades his average loss was around 5%. So a hard, no matter what your brain tells you stop at 8% with the ability to close sooner of it doesn’t feel right sounds ok.

He also talks about trailing stop losses being useful and I got the impression that he employed them often.

I am not the guy to ask on what is good or not so I am just answering based on what I remember Minervini stating. I tried to mesh his modified CANSLIM style with a long options strategy using small position sizing+scaling into winners and so far not so good lol.
 
ZBZB said:
I changed the finwiz scan to less than 5 and added new highs as a signal. The only thing I had found before was www.stockfetcher.com where I set up a scan for last 8 years which is the IBD canslim reccomendation. There is no relative strength to an index on stockfetcher. www.chartmill.com has relative strength to an index. I have contacted them to see if they have an ipo year filter. www.MarketSmith.com does not have it. www.stockcharts.com uses rate of change to simulate relative strength to an index.
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Please note that the IBD’s RS is different than RSI...the latter being an overbought/oversold indicator with the former being the stocks closing price divided by the S&P closing price.
 
zghorner said:
Please note that the IBD’s RS is different than RSI...the latter being an overbought/oversold indicator with the former being the stocks closing price divided by the S&P closing price.
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I did say relative strength to an index repeatedly.
 
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