Welcome back to the Market Chat! In this episode, we have a very special guest: Mark Minervini.
Mark has had a large influence on my trading journey. Two of his books; Think and Trade like a Champion and Trade Like a Stock Market Wizard are in my top 5 and I've gotten the chance to learn from him directly at IBD meetups and his Master Trader Program in 2020.
Over his career Mark has achieved incredible performance including a 5 and a half year period where he achieved an average annual return of 220% for a total of 33,554% Return over 5 years,
In this interview, we cover his background, how he became the trader he is today, the Volatility Contraction Pattern, Determining Pivot Points, How to set and manage Stop Losses, When to sell or take partial profits, and finally risk management.
We also spend the latter half of the interview going through some charts and discussing how Mark interprets Price Action and makes decisions.
Connect with Mark
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Marks books + Features -- HIGHLY Recommended --
Trade Like a Stock Market Wizard: [ Ссылка ]
Think and Trade Like a Champion: [ Ссылка ]
Mindset Secrets for Success: [ Ссылка ]
Momentum Masters: [ Ссылка ]
Market Wizards- Jack Schwager -[ Ссылка ]
Other Books Mentioned
How to Trade in Stocks Jesse Livermore [ Ссылка ]
How To Make Money In Stocks O'Neil [ Ссылка ]
Stay in touch
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► richardlmoglen@gmail.com
If you would like to support my channel
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TC2000 Discount Link: [ Ссылка ]
Marketsmith: [ Ссылка ]
Timestamps
0:00 Introductions
1:04 Aha Moments That Changed Mark's Trading
2:13 What Historical Traders and Books did Minervini Study
3:20 Rules and Discipline are Essential for Super-Performance
4:04 Its like being a Great Athlete- You have to be focused and Disciplined
4:49 How to structure your goals to achieve Superperformance
5:45 Ed Seykota- Everyone gets what they want out of the market.
6:00 You don't get to be an Olympic Athlete without putting that goal above all else
6:30 The Mark Minervini Volatility Contraction Pattern - VCP
7:33 The VCP is a Characteristic, Its the Effect not the Cause
9:00 VCPs have been occurring since the 1800s, Nothing has changed
9:45 Marks Daily Routine - Mindset and Preparing to Trade
10:08 Breathing Exercises - Visualizing Outcome - How will I deal with it
10:50 All work is done the night before - Ideas, Pivots, Position Management
11:30 Mark's Weekly Routine, Scanning for Ideas
12:24 Non Negotiable Criteria - Minervini Trend Template
12:40 98% of the Greatest Winning stocks were in Stage 2 Uptrends
13:28 Tips for people to Find VCPs - Train your Eye and Build your own Model Books
14:54 Always looking for the Fundamentals But it has to have the technicals
15:54 Does Mark look for Group Moves?
17:09 Golden Nugget - Focus on Stocks then the groups then the market
17:30 Screening for Leaders during a Correction
17:58 High RS, Near Highs, Rebounding the fastest
18:06 Utility Screen
18:50 What is a Pivot point
19:54 Know when something is acting normal or abnormal
21:45 How Mark Uses different timeframes near Pivot points
22:20 Buying Pullbacks - Waiting for the stock to turn up
22:50 Where does Mark Put his Stop Losses - Obvious and Non-Obvious
24:17 How many Stocks does Mark Hold- How does he set Position Sizing
25:55 How does Mark decide when to sell? Adapting to the Market
27:00 Golden Nugget - It does not matter what happens after you sell
28:35 Golden Nugget - When do you sell into strength versus into weakness
32:09 Progressive exposure is a major Key
32:54 How does Mark determine if the Market is Extended
33:40 Momentum trumps Sentiment. It comes down to the individual stocks
34:25 Going through Charts NMM Stock Analysis
35:15 Golden Nugget You want to be knocked out quickly if you are wrong.
36:05 Entering Failure Resets
37:00 Changing Tactics Within an Overall Strategy
38:55 How long does the base- contraction have to be
39:00 Powerplay Setup
40:00 Snap Chart Analysis - RS
43:00 Taking Responsibility for your Trading - Versus Blaming Algos
44:50 Playing a portion for the larger move 50 Day Rule
46:50 BOYD Gaming BYD - Respect for the 10 Week MA
47:50 Good trade or a bad trade. Did you follow your rules?
49:00 How important is Keeping track of your Batting Average, Average Gain, Average Loss.
52:15 How does Mark come back from a big loss or poor trading performance
54:22 How does Mark Know when to Sell into Strength
55:00 What matters is what happens between the buy and the sell.
57:17 What can new traders do to shorten their learning curves.
Disclaimer
The content of this video is for educational purposes only and should not be taken as a suggestion to buy or sell anything
