My guest today is Mark Minervini, a technical analyst, acclaimed author, instructor, and independent trader. He has over 30 years of experience in finance, and was featured in Jack Schwager's Stock Market Wizards; Conversations with America's Top Stock Traders.
The topic is his book Trade Like a Stock Market Wizard: How to Achieve Super Performance in Stocks in Any Market.
In this episode of Trend Following Radio we discuss:
- Importance of influences outside of the finance world
- Minervini's atypical background in music and how he got to where he is today
- Capturing 'super performance' and the trend
- The importance of cutting your losers short
- How Minervini spends his day
- Richard Love and 'super performance' stocks
- Why Minervini is not a fan of diversification beyond the minimum amount that you can get away with
- Richard Donchian, Jesse Livermore and their influence on Minervini
- Timeless strategies
- Paul Tudor Jones and 'losers average losers'
- The importance of not just trading what you know
- 'New high ground' and not being afraid of buying higher highs
- Risk management and bet sizing
- The biggest areas where new traders often start off on the wrong foot
- Howard Lederer and poker players as an analogy to traders
- Why you shouldn't even turn on the television as a stock trader
Jump in!
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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/
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Hope you enjoy my never-ending podcast conversation!
