Explain this comment from Market Wizards

Discussion in 'Trading' started by xtrhvydty, Feb 27, 2006.

  1. From The New Market Wizards, p. 174, Mark Minervini:

    "Concentrate on mastering one style that suits your personality, which is a lifetime process. Most people just cannot weather the learning curve. As soon as it gets difficult, and their approach isn't working up to their expectations, they begin to look for something else. As a result, they become slightly efficient in many areas without ever becoming good in any single methodology."

    1. What does "one style" and "single methodology" mean?
    2. What "style" matches your personality, and how did you come to realize this?
    3. For veteran traders, what are the various stages of mastery you have encountered in this "lifetime process"?

    Many Thanks
  2. I only have a couple of minutes but I might take a stab at it

    Trading style is everything to do with your experience of trading

    It is time frame...Are you comfortable with short term trading like scalping for ticks, or do you like to sit back and watch the action with a minimum of pressure on you to act. If so then trading market swings or longer term investing might be "your thing"

    What instrument should you trade. Do you like to trade a product that is a real mover or a slower instrument that is not so volatile
    Do you have some background that helps you to learn a particular stock or futures market.

    How do you like to transact. Do you like to sit at a desk and watch the ticks go by? Do you like to put on a trade and then walk away? Do you want to invest in a fund and read your quarterly report when it arrives in the mail. Do you want to do it yourself, or have a full service broker handle you business?

    The answers to these questions will determine what your preferences are, and get you on the right track.