A post every trader should read, especially new traders.

From Mark Minervini:
Having a 34 career as a stock trader, I’ve experienced some incredible times in the stock market, good and bad. Today I’m going to talk about a few of the more tumultuous times.
For those of you that think it’s different this time around or that the market simply won’t go down 5 or 10%, let me offer the following bit of perspective

http://www.minervini.com/blog/index...ery_trader_should_read_especially_new_traders

 

yes. market can move very violently.

That is why I like day trading;
don't care about the past;
don't bother about the future;
just focus on the current moment;
just focus on today.

 

In conclusion, constantly think about both forces of the market...and if you are an investor, it sometimes pays to have insurance or a hedge.
But even then, that article is kind of irrelevant...because if you simply stayed your course...and ignore the relatively quick and meaningless gyrations...you would have easily recovered.

And even still then, that was a unique situation in all of its collective variables. That exact scenario playing out in today's market is virtually impossible, or extremely far-fetched.
I agree with reply #2 above.

 

Trolling again. Boring.
Who are you to judge relevance / irrelevance of Minervini's post ???
Are you willing to compare yourself to Minervini? Seriously ?
Wake up, 'part art part science' lawrence lugar <<<<< Minervini
Just know your place, majority of your posts are "kind of" noobish / useless / truisms

CM

 

How is he more legendary with his long only 155% contest gain than Tim Sykes, for e.g.?

 

Do people think "this time it's different?" I only read and hear about the correction that's overdue. Even housewives in my town are talking about it.

 

Talk to 5 average investors, and 4 of them will quote Warren Buffet, tell you that they invest like a good housefather and are in it for the long run.

 

when a lecture starts from introducing the credentials (like 34 years in trading) i do not continue.... this is for housewifes and dentists riding the wave of bull-market

on top of that neither the new, nor especially the experienced traders, need nothing besides the working method

only the working method is the embodiment of the trading wisdom

only in method we trust

 

That market philosophy shouldn't change regardless of the level of the DOW or SPX. That's the point of long term investing.

 

Is he really so oblivious to believe people are offended by the suggestion that markets drop, and not by his profound condescension?