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Think & Trade Like a Champion , Mark Minervini

Think & Trade Like a Champion , Mark Minervini

Mark Minervini, he is an independent trader who turned a few thousand bucks into millions of dollars. He won the 1997 U.S. investing championship with a cool 155% return, and from 1994 to 2000, he averaged a whopping 220% yearly return. That’s “only” a 33,500% compounded total retur. He was also featured, along with many other trading legends in Jack Schwager’s “Market Wizards” book series.

Book Review by Rasmeet (GHC Prop.)

  • You become what you think about all day along
  • To become great at anything, you must be focused and specialize, you must avoid what’s known as “Style Drift”
  • In the stock market , those who are not humble are destined to be humbled
  • Key Elements in Trading plan entry mechanism, risk management, exit strategy, position sizing
  • Determining whether the stock is a tennis ball or an egg will tell you whether you should continue holding or not
  • Two most important words in Trading: Respect Risk
  • I’hv heard some pundits say trading with stop loss is foolish. Only a fool would make such statement
  • If a stock is highly volatile, with a dramatic gyrations up and down, it’s going to be a difficult issue to trade using a relative tight stop loss to control risk. A risk first approach would tell you to find another candidate
  • Losing correctly can lead you to a fortune, because you are only a short term loser, but because of your discipline & mathematical edge, you’re a winner over time and you will be able to compound those wins
  • In the stock market, you can make or you can make excuses, but you can’t make both
  • The cheetah can be starving, but it still knows that to eat, it must exercise patience & wait for the right mo-ment
  • Ultimately opinions mean nothing compared with the wisdom and verdict of the market
  • Your job is to time your purchases along the “line of least resistance”
  • Turnover is not Taboo, If you have edge and you’re running concentrated portfolio, turnover can be a good thing
  • On a scale of 1 to 10, you want to be at 9 or 10 emotionally, physically & mentally
  • To achieve super performance, it take a long term, multiyear, committed endeavour

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