NexusFi: Find Your Edge


Home Menu

 





Learning from a Market Wizard: Swinging Stocks in the Style of Mark Minervini


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one mtzimmer1 with 91 posts (190 thanks)
    2. looks_two deaddog with 24 posts (39 thanks)
    3. looks_3 onetake with 6 posts (3 thanks)
    4. looks_4 Schnook with 5 posts (10 thanks)
      Best Posters
    1. looks_one mtzimmer1 with 2.1 thanks per post
    2. looks_two Schnook with 2 thanks per post
    3. looks_3 deaddog with 1.6 thanks per post
    4. looks_4 grausch with 1 thanks per post
    1. trending_up 25,040 views
    2. thumb_up 249 thanks given
    3. group 32 followers
    1. forum 135 posts
    2. attach_file 64 attachments




 
Search this Thread

Learning from a Market Wizard: Swinging Stocks in the Style of Mark Minervini

  #91 (permalink)
 
deaddog's Avatar
 deaddog 
Prince George BC Canada
Legendary Market Wizard
 
Experience: Advanced
Platform: National Bank Direct
Broker: NBD/BMO/Questrade
Trading: Stocks
Frequency: Every few days
Duration: Weeks
Posts: 1,283 since May 2013
Thanks Given: 183
Thanks Received: 3,962


onetake View Post
Zimmer, Deaddog

How much weight to do place on previous resistance. I think in Weinstein’s book he mentions that as long as there’s no previous resistance 2 years back then that’s better. Just wondering what your take on that is.

Depends.; I grab a weekly chart and look back 5 yrs. Longer until I find an all time high.

What it depends on is the catalyst. Why is the stock breaking out now? What's new? Management, product, merger or is there any reason for the renewed interest.

I also look at where and how long price traded at former levels. What is the likelihood of trapped buyers waiting to get out at breakeven or panic if the price drops as it did in the past.

If you buy stocks breaking out to new all time highs it is one less thing you have to worry about.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Ninja Mobile Trader VPS (ninjamobiletrader.com)
Trading Reviews and Vendors
Are there any eval firms that allow you to sink to your …
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
22 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
20 thanks
  #92 (permalink)
 
mtzimmer1's Avatar
 mtzimmer1 
Upstate NY
Recovering Method Hopper
 
Experience: Intermediate
Platform: TOS
Broker: TD Ameritrade
Trading: Equities, Treasuries, Gold
Posts: 840 since Dec 2018
Thanks Given: 2,201
Thanks Received: 1,918


onetake View Post
Zimmer, Deaddog

How much weight to do place on previous resistance. I think in Weinstein’s book he mentions that as long as there’s no previous resistance 2 years back then that’s better. Just wondering what your take on that is.


Sent using the NexusFi mobile app

@deaddog took the words out of my mouth with his response. ATH's preferred. The longer ago prices were traded the fewer open positions will remain from those prices. The more compelling the change in the company the more likely it is to attract new money which overwhelms the 'overhead supply.'

-Zimmer

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #93 (permalink)
 
mtzimmer1's Avatar
 mtzimmer1 
Upstate NY
Recovering Method Hopper
 
Experience: Intermediate
Platform: TOS
Broker: TD Ameritrade
Trading: Equities, Treasuries, Gold
Posts: 840 since Dec 2018
Thanks Given: 2,201
Thanks Received: 1,918


Stopped on my remaining TSLA trailed stop around breakeven this morning. Not a great sign for the market though to see such a heavily watched stock and barometer for 'growth' slice back through the breakout level from last week.

I didn't buy anything because I've seen no improvement in conditions. Here are breakouts I recorded as buyable today if market conditions were good:

BILI
CRWD
VCEL
ALGN
FUTU
VSTO
TRIP

As of the close 5/7 are red - failed breakouts are not a good sign. I'll continue to watch the recent breakouts and wait for the tides to shift before making any large commitments.

-Zimmer

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #94 (permalink)
 
deaddog's Avatar
 deaddog 
Prince George BC Canada
Legendary Market Wizard
 
Experience: Advanced
Platform: National Bank Direct
Broker: NBD/BMO/Questrade
Trading: Stocks
Frequency: Every few days
Duration: Weeks
Posts: 1,283 since May 2013
Thanks Given: 183
Thanks Received: 3,962


mtzimmer1 View Post
I didn't buy anything because I've seen no improvement in conditions. Here are breakouts I recorded as buyable today if market conditions were good:

BILI
CRWD
VCEL
ALGN
FUTU
VSTO
TRIP

As of the close 5/7 are red - failed breakouts are not a good sign. I'll continue to watch the recent breakouts and wait for the tides to shift before making any large commitments.

-Zimmer

I took a quick look at the symbols above and with a couple obvious examples didn't see what I would call breakouts. Only VCEL didn't have overhead resistance.

How many checked all the boxes?

Market was down today. I don't usually buy on days the market is down. Swimming against the tide.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
Reply With Quote
Thanked by:
  #95 (permalink)
 
mtzimmer1's Avatar
 mtzimmer1 
Upstate NY
Recovering Method Hopper
 
Experience: Intermediate
Platform: TOS
Broker: TD Ameritrade
Trading: Equities, Treasuries, Gold
Posts: 840 since Dec 2018
Thanks Given: 2,201
Thanks Received: 1,918


deaddog View Post
I took a quick look at the symbols above and with a couple obvious examples didn't see what I would call breakouts. Only VCEL didn't have overhead resistance.



How many checked all the boxes?



Market was down today. I don't usually buy on days the market is down. Swimming against the tide.



Haha. That’s the opposite of what @Schnook does. He said he doesn’t buy stocks when the market is up because most stocks drift higher when the market is up. When the market is down and an individual stock is up it’s showing relative strength.

That’s what is funny about this game - two traders can do OPPOSITE things and both can logically justify their choice!

All of the tickers mentioned checked my boxes for entry. Some I’d consider higher quality than others, but all were good enough to take in a good market.

-Zimmer

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #96 (permalink)
 
mtzimmer1's Avatar
 mtzimmer1 
Upstate NY
Recovering Method Hopper
 
Experience: Intermediate
Platform: TOS
Broker: TD Ameritrade
Trading: Equities, Treasuries, Gold
Posts: 840 since Dec 2018
Thanks Given: 2,201
Thanks Received: 1,918

Nothing for me today. Stopped on ON and SONO. Down to three remaining positions and about 15% invested. Keeping the gunpowder dry until the next opportunity comes around.

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #97 (permalink)
 
deaddog's Avatar
 deaddog 
Prince George BC Canada
Legendary Market Wizard
 
Experience: Advanced
Platform: National Bank Direct
Broker: NBD/BMO/Questrade
Trading: Stocks
Frequency: Every few days
Duration: Weeks
Posts: 1,283 since May 2013
Thanks Given: 183
Thanks Received: 3,962


mtzimmer1 View Post
All of the tickers mentioned checked my boxes for entry. Some I’d consider higher quality than others, but all were good enough to take in a good market.

-Zimmer

Here are the boxes I like to see checked. I would prefer to see the stock breakout to new all time highs and should maybe add that in but I do some bottom fishing.


"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
Reply With Quote
Thanked by:
  #98 (permalink)
 
mtzimmer1's Avatar
 mtzimmer1 
Upstate NY
Recovering Method Hopper
 
Experience: Intermediate
Platform: TOS
Broker: TD Ameritrade
Trading: Equities, Treasuries, Gold
Posts: 840 since Dec 2018
Thanks Given: 2,201
Thanks Received: 1,918


deaddog View Post
Here are the boxes I like to see checked. I would prefer to see the stock breakout to new all time highs and should maybe add that in but I do some bottom fishing.


I imagine my criteria will become more and more selective as the years go by. 80/20 principle is relevant here I think. 80% of a trend-follower's gains will be made on the 20% or so trades that are ideal opportunities (such as those that check all your boxes) while the remaining 20% gains will be made from 80% of the trades. If one wants to spend less time in front of the computer, focusing on the 20% that are ideal seems the most efficient use of time!

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #99 (permalink)
 
deaddog's Avatar
 deaddog 
Prince George BC Canada
Legendary Market Wizard
 
Experience: Advanced
Platform: National Bank Direct
Broker: NBD/BMO/Questrade
Trading: Stocks
Frequency: Every few days
Duration: Weeks
Posts: 1,283 since May 2013
Thanks Given: 183
Thanks Received: 3,962


mtzimmer1 View Post
I imagine my criteria will become more and more selective as the years go by. 80/20 principle is relevant here I think. 80% of a trend-follower's gains will be made on the 20% or so trades that are ideal opportunities (such as those that check all your boxes) while the remaining 20% gains will be made from 80% of the trades. If one wants to spend less time in front of the computer, focusing on the 20% that are ideal seems the most efficient use of time!

Even with my criteria the 80/20 principle applies. 80% of my profits are made by 20% of my trades. Cutting losses quickly eliminates over 50% of the trades. Of the remaining forty some odd percent only a few will run hard and strong.

Definitely worth waiting for.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
Reply With Quote
  #100 (permalink)
razle
Westland
 
Posts: 5 since Jan 2021
Thanks Given: 5
Thanks Received: 13



deaddog View Post
Even with my criteria the 80/20 principle applies. 80% of my profits are made by 20% of my trades. Cutting losses quickly eliminates over 50% of the trades. Of the remaining forty some odd percent only a few will run hard and strong.

Definitely worth waiting for.

With this criteria, I would like to know if you have a fixed % that you generally risk per trade?

Reply With Quote
Thanked by:




Last Updated on May 7, 2022


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts