33,554% Return in 5 years | Trade Like a Stock Market Wizard | Interview with Mark Minervini
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- เผยแพร่เมื่อ 21 พ.ค. 2024
- 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
/ markminervini
minervini.com/
Marks books + Features -- HIGHLY Recommended --
Trade Like a Stock Market Wizard: amzn.to/3sQmo0n
Think and Trade Like a Champion: amzn.to/32Mwnt2
Mindset Secrets for Success: amzn.to/3ew1bmZ
Momentum Masters: amzn.to/3xk2uy6
Market Wizards- Jack Schwager -amzn.to/3sO7g3p
Other Books Mentioned
How to Trade in Stocks Jesse Livermore amzn.to/3vcNjoo
How To Make Money In Stocks O'Neil amzn.to/3aC3t35
Stay in touch
► / richardmoglen
► richardlmoglen@gmail.com
If you would like to support my channel
► www.buymeacoffee.com/RichardM...
TC2000 Discount Link: www.tc2000.com/pricing/richar...
Marketsmith: marketsmith.investors.com/ms-...
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
Marks books -- HIGHLY Recommended --
Trade Like a Stock Market Wizard: amzn.to/3sQmo0n
Think and Trade Like a Champion: amzn.to/32Mwnt2
Mindset Secrets for Success: amzn.to/3ew1bmZ
Momentum Masters: amzn.to/3xk2uy6
Market Wizards- Jack Schwager -amzn.to/3sO7g3p
-- Other Books Mentioned --
How to Trade in Stocks Jesse Livermore amzn.to/3vcNjoo
How to make money in stocks O'Neil amzn.to/3aC3t35
What order should we read his books if we are new to his strategy?
Great job getting Mark on your channel. That's a power play!
@littlebigtankengine thanks a bunch!
I read Stock Market Wizard first.
@@stephentownsend3297 That's right, getting in touch with a consultant during the pandemic was how I was able to scale through the crazy stock downtrend.
Reach out to Tamara Diane Hagan for best guidance. search her name on the web to see her website .
Love how well prepared the interviewer is. Great questions too, and he let's Mark speak to the end without cutting him off. Thank you.
Glad you enjoyed it!
From someone who's watched literally hundreds of videos by dozens of content makers: this one is not bullshit. Thanks for the great interview.
Glad to hear that George!
Mark Minervini helped my trading reach a whole other level.
"Letting the math work its way into your trading" is for me, one of the most important insights I've gained from Minervini over the last few weeks.
Absolutely!
when we use math with stocks is it basically just where you place your stop compared to where. you think the stock can go or how exactly would you qualify a good mathematical trade?
Glad to hear his confirmation that investing for small gains multiple times a year is the way to make money rather than finding those few stocks that go up 50-100% in a year. I can find stocks that will go up 10% in a few days, weeks or months a lot easier than ones that will go up triple digits in a year or two.
Absolutely! there are many ways to achieve super-performance
It's a great time to do trading, it's great time to do anything.
You can't force experience.
This man is gem.
After a horrendous 2022, shell-stunned financial backers have misfortunes to recover and a lot to consider, as an expansion report and a pile of different information did close to nothing to change assumptions that the Central bank would probably keep climbing interest rates regardless of whether the economy dials back, And that implies more red ink for portfolios for the principal quarter of year 2023. How might I benefit from the ongoing unstable market, I'm currently at a junction choosing if to exchange my $250k security/stock portfolio
@@lucid480 Can you leave in details about your investment advisor here? I’m in dire need for one.
@@lucid480 Insightful... I curiously looked up her name on the internet and I found her site, thanks for sharing
Scammers
An hour passed and I did not even notice. This man is a fountain of knowledge. My God!
Thanks Richard for organizing this.
Glad you enjoyed it!
interview with Mark Minervinie. It's like a pure gold. Thanks!
Thanks for watching!
This is a BIG eye opener for me, a South African development trader...
I followed ICT for months and he preached that the market is run by algorithms
He also said that Indicators are a distraction and Price Action is King but here I see a Market Wizard using a Indicator and I'm shocked...
He also said stuff like focus on one setup a week while you still developing and than tape Read and even when you are profitable aim for 12% a month than chill, OK but I wanna reach a high level ( Yes I want to be rich) and i know 33 000+ return is insane but I want to also be a Market wizard and it felt limiting...
Richard, this needs to be watched multiple times if anyone wants to really learn from MM. thanks for doing this interview, you are the best!
I have a 3 fund portfolio consisting of 33% S&P, 33% Total stock, and 33% international. I feel a need to focus on complete growth so I went 100% stocks, but does the SP500 and TSM overlap too much to make sense holding both? However I’ve been in the red for a month now. I work hard for my money, so investing is making me a nervous sad wreck. I don’t know if I should sell everything, sit and just wait but watching my portfolio of $450k dwindle away is such an eye -sore.
There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
@@sherryie2 I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
@@kurttSchuster I actually subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your coach?
You have to realize what trading is all about - it's not getting high, getting the low. It's about making (money) more than you risk and being able to do it over and over to reach your goal. Thank you Mark!!
So if you make money more time than you are wrong but you risk the same as you make is wrong ?? hahaha
1:1 RR is good enough even if you are right 55% of the times
Learn man learn
1:2 RR ratios are used so the new traders lose the mental game in the short term and just gamble
I've already read this guy's books years ago. Well worth reading If your serious about trading. Some serious timeless advice given. "What you get is what you prioritize"
Thank you, Mark. I am from Vietnam. I read your books more than 10 times and will continue reading.
26:00 ... man that info about being nimble and agile with your strategy when the market changes (instead of getting upset that the usual way of doing things isn't working out) was such a critical aha moment for me. That was worth the hour listen alone and this interview was just chock full of them. Side note - I do wish you'd answer just one question at a time tho.
This is GOLD, a lot of notes writing down with this interview!!❤❤❤
One of the greatest, Mark's approach is phenomenal, professionalism and mastering at its finest (and his books are great).
Great video, mark is legendary, richard is great at interviewing as well!
Thanks Nathan I appreciate that!
Wow I had to check if you're THE Nathan Florence! Surprised to see you here! Yiiwww! 🤙🤙🤙
@@RichardMoglen can you interview ryan peirpont, that guy is a beast!!!
Coming soon!
@@RichardMoglen cant wait, the guy is consistent and very discipline. When will this be out.
Whaaaaat?? Interview with Mark Minervini?!! This made my weekend!!
Thank you so much man...I hope u understand the impact you are having... Learning from great traders all the way from India...that would almost be impossible if you weren't there...Thank you so much😁
My pleasure!
Richard great interview. You brought great stuff out of the legend mark minervini.
The way you moved the topics around was superb.
Looking forward to more such interviews from you.
Much appreciated!
I have to say Richard, this is one of the best videos interviews you have done, thank you. Why? In my opinion, there are many good traders, maybe many better than Mark, but for one to learn they must have a good teacher! Mark is not only a market wizard but also a teaching wizard, that is why I attend the MTP programs. I still respect the many other great and successful traders that teach by way of videos, books and trainings, though no one teacher is the same just like no one trader is the same, I think Mark’s teaching is at such a high level like a professor, where you are studying for your PHD in trading! Thanks just wanted to share and reward you for your effort Richard in helping people become better traders, keep up the great work 🙏👍
Pure gold! I Appreciate you, Richard, for taking the time to interview traders, and putting this together so that more people can learn from them. Thank you.
Best interview/podcast of Mark Minervini that I've watched so far.
I clicked so fast once I saw Mark Minervini
Hes the man!
Amazing interview Richard, as I said earlier on Twitter I couldn’t wait to watch this dream team interview and as usual you never disappoint. You asked Mark all the questions us aspiring market wizards would want to ask him, and had me literally updating some of my own personal buy, sell and position size rules in my binder, lol. Great work and thanks for another incredible interview!
Much appreciated!
I am from Taiwan and Mark Minervini have influenced me a lot. I have read many interviews and this one is the most useful. Thank you for this interview. I have learned a lot.
Great to hear!
All I can say is< I am so grateful! Everybody should understand now, why it's SO important to journal your trades! Average gain/loss will directly influence your decision making! This is grandiose!
Thanks! Completely aggree!
Just found your channel and have sped through multiple interviews. If I had found this at the beginning it would have saved so many hard lessons learned. Keep it up!
A valuable interview with Mark! Thank you Richard.
Mark is so articulated
Thanks Mark! I’m new to trading and have just finished both your TLSMW and TTLC books, and have collated a ridiculous amount of notes. I’ve set up my trading performance management system entirely on your strategies. Just love the risk management and mathematical approach to trade management. This was such a good interview. Thank you.
Hi David, did Mark's strategies work for you? I am a newbie, about to start trading and the first concept I have studied is VCP
So many ideas here to think about and test. I'll be re-watching this several times. Great interview!You did a good job interviewing Richard. The timing your trade idea I started implementing a couple years ago and i definitely noticed an improvement just from a time management perspective
Hon mark sir what a remarkable experience in stock markets it is our luck to screen with you enclosing your perspectives knowledge in our minds little book you mentioned at start of video title was not given I will buy and read all your books and get guidance in future many thnx to legendary only one mark sir be healthy happy
this video really gave me some enthusiasm and confidence on stock trading im a new trader and have made some bad trades but ive learnt alot lately and hearing this interview reinforced the idea of sticking with it and "STICK TO THE PLAN"
Thanks for interviewing Mark Minervini, he's a great trader and learned a lot from this interview.
Please try to interview Paul tudor jones next :)
Finally had time to watch this, great interview! Noted what Mark said about his stop placement when the market isn't favorable. I have been knocked out of many positions these past months using the "popular" stop points.
Thanks Nick! I hope you exams went well.
excellent. thank you! love the end about learning the guitar and motivation and learning.
Awesome interview, so packed with valuable information. Seen this multiple times get find it interesting each time. Thanks for providing this!
Amazing. Such a wonderful time we can have amazing interviews such as this recorded and shared publicly. What am amazing time to be alive.
Thank you, Mark, for honestly sharing your long, professional experience and the wisdom gained from your work. Thanks for the interview, Richard, making this accessible to us.
Thanks Mark and Richard for bringing such learning videos. This video has has lot many things to learn, form daily routine , stock trading to psychology management.
Richard, all I can say is Wow, tons of knowledge in sixty minutes. I’ll be watching this over and over. So much information. Well done 👍
Thanks so much!
Mark is the real deal. I have read his books and been to MTP. If one executes based on his teachings, you would do well over the long run. Thanks Richard for this interview.
Absolutely! Glad you enjoyed it
Brilliant interview, thank you for this. I’ll be rewatching this a few times.
Thanks Gary!
Awesome interview and so much covered! Progressive exposure is a powerful concept. Loved the shortened learning curve discussion and what it takes to be a trader nowadays. Thank you.
No problem! Thanks for watching
Really liking your channel. Only found it last night. I was starting to think there were no real trading channels on you tube. I’m a big fan of Mark - Zanger - O’Neil as well as others but yeah this was great finding your channel!
I’ve prob listened to this one 5x… & the 💎 beginning at 27:00 mark is such a great perspective. So simple. Great stuff 💪🏽💪🏽
Thanks a lot Richard for making this happen. Appreciate all your work! More power to you.
More to come!
" It took me 6 years to turn a profit." Let that sink in. Full time trading. And US champion.
This is the moment we've all been waiting for. Great interview Richard, your development is clear to all!
Thanks Hector!
What a fabulous interview. I went to one of Mark's seminar's in 2017 in SC. This is filled with information and Mark's sharing his insight invaluable. Thanks, Richard.
Glad it was helpful! Thanks Martha
Pure gold. Thanks both of you!
Our pleasure!
Hi Richard! I'm going through your videos and loving this content. Great interviews and an incredible source of information. I am also devouring all these books they all recommend, great stuff. It would be cool to hear about your strategy, and wether you also trade options - I personally trade options almost exclusively. Thanks again and greetings form Spain.
Excellent as always, quick answers to the excellent questions asked. It’s time to read Marks books again. Thanks to you both 🙏.
Our pleasure!
33:25 excellent question. I used similar formulas in the past (percent above the 50 or 200) with mixed results for me. Might be different for others, but great question never the less.
Thanks, Richard for bringing Minervine back. I like this interview because Minervini responded to your questions in simple and direct ways. Great material. My take from the interview is the review the books that make the difference and apply to your personality to develop the best strategy that suits you.
Glad you enjoyed it!
Wow, this was very helpful. Thanks so much for sharing this. So much wisdom and experience.
Yo thank your for your service. I rewatched this video like 4 times already.
Just a phenomenal interview Richard, thanks for the work you're doing here man!
My pleasure! Thanks Jason
Thanks Richard! Hope you can continue doing these once you graduate. In the meantime I cherish these interviews! Thanks 👍
I plan to keep this up. Thanks Jim!
Richard, great job as always. Thanks to you and Mark for the time and information.
Glad you enjoyed it
Been waiting for this one! His book was the first book that I read relating to stocks and the one that has really set me up on the path to success. Great Interview!
One of the best interviews I watched
I was waiting for this!! Appreciate you lots Mark and Richard!
Our pleasure!
Superb interview. Its amazing how much you can learn and get motivated just by listen to him. Im new to your channel and I have been watching a lot of your podcasts and have added a bunch more on my WATCH LATER list. Thanks for doing this type of stuff.
Thank you for taking the time to listen!
Awesome interview.
Mark is always a joy to listen.
But Richard has superb interviewing skills
Very kind of you thanks Ashish!
Mark is a legend ofc. Great questions and great flow Richard!
Thanks!
Great video...........being a trader, who participates in the market, on a regular basis.........I.found Mark Minervini's trade insights, very imformative.
Good stuff!
Must stop watching for a while to write this comment, you' did a very good job in this interview Richard, thanks a lot!
Glad you enjoyed it!
This is quality content. Thanks for keeping it real, Richard. 💯 🔥
My pleasure!
Wow...you really hammered him with great questions...good job Richard. Mark is a great at sharing information. Thanks a lot ...SOLID GOLD.
Glad you enjoyed it!
Pure gold! Thanks guys. you both are great mentors and teachers to me
Thanks Tommy!
Watched a few interviews with Mark, but this one is a bomb! 💣 Well done! 👍
Thanks!
amazing interview with mark, really appreciate it
I am new to the market. Started learning about the mechanics. Fortunate to have learnt from Mark. He maintained real focus and shared excellent key notes. I will watch it a few more times. Thanks Richard for arranging this knowledge source!!
Fantastic!
"The good trade is a trade that you stick to your rules/strategy. You can have a good trade and get stopped (cutloss), you can have a bad trade and gain. That is why the result cannot justify the means. You might be thinking you did right just because you gain. You are like a turkey fatten-up for a kill. Don't be outcome bias.
You should be strategy bias, rules bias and discipline bias."
This one is the takeaway for me.
So many golden nuggets on this one. Thanks Richard, great video! God bless you!
Glad it was helpful!
Definitely one of the interviews where I literally took heavy notes, and kept rewinding back to Mark's great insights. Thanks Richard! your contents are getting more and more awesome! keep it up!
Awesome to hear Aaron thanks!
Thank you, Richard. This was great.
Glad you enjoyed it!
Very intriguing and comprehensive content
Also thanks to all the efforts you made
Glad you enjoyed it!
Thank you Richard, and of course Mark! This is awesome! I wished I could afford Marks teachings, I have all his books and follow closely al his tweets. Priceless!
Thanks!
I sent $6,000 with flight and hotel attending his 2019 Master Trader Program....for 2020 I closed the year with a total portfolio gain of 148%.....how can you afford NOT to invest $5,000 that can teach you make millions? I am not affiliated with Mark or his program in any way, just a past student grateful for what I learned from all 3 instructors with Mark Richie III and David Ryan.
@@jerryjenkins5739 I am working on it, nothing I want more than to read the master's lips.
thank you so much for this! keep up the amazing work!
Thanks!
This is an awesome channel man !! will tell all my buddies about it. great work!
Much appreciated!
I was waiting for this one, can't wait
Thanks!
Awesome work with the legend Richard .. Keep on getting this kind of quality ppl.
Thanks, will do!
Masterful and thanks for the detailed breakdown too. Excellent!!! :)
Glad it was helpful!
Thank you Richard, and Mark.
Our pleasure!
Another great interview. Mark is such a master-makes almost everyone else seem like an amateur. Humbling.
Thanks Ross and agreed!
man there is just so much invaluable information in this interview that i don't even know where to start. Thanks for hosting this legend.
Glad it was helpful!
Excellent interview, Richard. This is one of the best. Time goes so fast when watching folks like this. Thanks for doing this.
Glad you enjoyed it!
Damn, Richard congrats! Getting big and going places with mark minervini!
Thanks!
Excellent interview! Thank you both!
Our pleasure!
Ohhh sir most awaiting video
Thanks Richard
No problem!
@@RichardMoglen
Waiting for Interview with David Ryan sir
I have been following Mark for a long time and he still managed to impart knowledge new to me with this interview. Great questions and I appreciate the way in which Mark answered all off them.
Glad you enjoyed it!
Finally you got to interview one of the biggest legends. Great interview as always Richard, you are always asking the right questions. We get their full system filled with alot of golden nuggets that we can use in our systems. Thank you very much, you are the best stock interviewer for me.
Glad you enjoyed it!
Always! Im learning a new thing or two from every single interview.
Great interview, thanks for both of you
Our pleasure!
Love this one 😍 Waiting for this . thank you
Enjoy!