he offers some workshops on youtube also that cover much of the material in his books...I have pages of notes from them and looking back years later I will say that it was good advice, I just applied it poorly. something not emphasized in his books...or most others...Is that trading is fu**ing hard. It is the highest paying job in the world consisting of the smartest, most competitive people in the world...how much effort and work and devotion, and resilience do you think it will take to thrive in this field? Something else not mentioned in his books...is that his policy of having a really tight SL (i believe in one of his workshops he mentioned his annual average SL is around 6%), will get you absolutely decimated in choppy markets...especially trend trading. books do help and I suggest you read them for fresh ideas...but reading books is only a small part of what you will need to do...and you will be lucky to get even one single golden nugget of usable wisdom out of each book. Another suggestion...consider listening to a pod cast called "chat with traders" instead of the radio. Lots of killer interviews with professional traders...sort of like a modern day market wizards platform...and speaking of which why not start with the man himself, Jack Swager.
The SEC has uncovered some of the popular Youtuber gurus as being losing traders yet they had been fleecing tens of millions from their subscribers. Some of the old timer market wizards figured if cons are making a fortune at it than maybe the real deal top traders should be doing some training. Its a lot different when you made a lucrative living from trading a few decades than you start selling training.
400k per day? That's like 100mil per year! If a person could net 400k per YEAR from trading and another 400k from selling books,trading courses etc. wouldn't they be a fucking idiot not to do so?
There are still some major players on this site...there use to be a lot more. Probably a combo of more online social outlets becoming available and dip shit sim traders or trolls running them off. Some of the old ET treads are an absolute goldmine of info.
Why not make up your own mind about Minervini? Personally, I'm a big fan, although those investing championships could be a hoax - you can have another account that "supports" your trades in your official account and this way you would be paying with your losses and that would be the price of your fame - it is possible! About the consistency of those returns and the legitimacy of his trading - do you think that the world is black or white? He might be a good trader, he might even be a great trader and still he might have his ups and downs and turn to mischievous methods to present the downs as ups... All of this doesn't matter, the important thing is - when reading his books and teachings, they do make sense and even with a basic manual back test you can see that at least he's on to something... I think there is a lot to gain from Mark Minervini.
%% Good points, especially on over\priced expensive seminars. But IBD founder's losses in some bear markets prove + much larger data on pro money managers prove the same thing. Seldom if ever\ top 10% do it for 10 years in a row. I wouldn't mind if he got most of his stuff from IBD/Investors Business Daily. But speaking of the number 10, i may not buy anybooks on some that widens stops to 10%. Hard to go wrong on a book borrow or a book buy with a money back promise. 1990's to early 2000s have such a good mix of bull + bear; i could find a reason to borrow his books. But the market have not changed much @ all '90s -2002 or20o3 except commissions have gotten so much cheaper; could overtrade....
%% ONE day does not mean much; but his bearish call in a downtrending bear market is right on[about lunch time, CST] [NOT sarcasm \LOL] And his next day bearish call seems to be working, also. Markets are about the same 1990-2002-2003 Good link on Kristjan K.
I guess the better question would be: Is he a good teacher and can I improve my trading from his books and seminars? Some great traders, scientist aren't good at teaching or what works for him may not work for you. aka: Why not just read the Amazon reviews of his books (with a grain of salt)?
Are you a millionaire trader from following the Holy, Godly, teachings of Minervinininini? I hate how people devotely follow trading teachers and gurus and social media personalities......and yet....they are brokeass and have nothing to show for it. They feel compelled to defend them....because they spent their time and money and lives on them already. Losers, I'm not saying it arrogantly....but the world will have a ton and ton of losers in it in any given sample size. Not everyone can be a successful winner who see's the light. 99.48% of the people who have ever visited ET....are not, and will Never be, Elite. That's just the sad reality of it. Buy a box of Cupcakes from a bakery to feel better, now, temporarily.