Ep. 230: Mark Minervini Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 19 April 2014
⏱️ 42 minutes
🧾️ Download transcript
Summary
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/
You can watch a free video here: https://www.trendfollowing.com/video/
Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast
My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel
Hope you enjoy my never-ending podcast conversation!
Transcript
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| 0:00.0 | This is Trend Following Radio, where great thinking comes alive. |
| 0:10.9 | Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings. |
| 0:21.2 | I am your host, Michael Covel. |
| 0:24.0 | Not filtered, raw, honest. |
| 0:27.3 | That's my passion. |
| 0:32.9 | Today of the show, I have Mark Minervini. |
| 0:36.1 | Mark is the author of Trade Like a Stock Market Wizard, also featured in Stock Market Wizards by Jack Schwager. |
| 0:43.8 | Mark comes at trading from a different perspective than trend following traders, but with a lot of commonalities, I think you will enjoy this conversation. |
| 0:59.1 | Thank you. I think you'll enjoy this conversation. You know, one thing I noticed about your world, and it reminds me in my world, too, |
| 1:04.3 | you definitely love those outside influences, the motivation, the persistence, the passion. I've seen that sprinkled |
| 1:13.5 | throughout your book and just around you. Yeah, yeah, absolutely. Well, you know, I came from |
| 1:22.3 | very, well, to say the least, a modest beginning. So I had to read a lot of books and get a lot of books and tapes early on in the day |
| 1:32.4 | to get me motivated and to learn how to get a successful mindset. |
| 1:37.2 | So I often point out that I have all my books behind me in my uh... office |
| 1:44.8 | over a thousand books on |
| 1:47.1 | motivation and success |
| 1:49.5 | uh... finance and so i'm a big |
| 1:52.8 | i'm a big reader and uh... i like to uh... |
| 1:56.1 | i wanted to also uh... in my book |
| 1:58.8 | be able to motivate people and because if you're not motivated you don't believe |
| 2:02.3 | you can do something then it doesn't matter you know if we give you the strategy or not you still |
| 2:06.1 | won't be able to get it done yeah I think you make a great point about some of the motivational |
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