I just spent 3 days in Myrtle Beach, South Carolina, at an intensive 3 day workshop for committed stock traders. It was a privilege to spend time with two of the greatest stock traders, Mark Minervini (above) and David Ryan. They taught the attendees what they had learned as they amassed their fortunes in the market. I had read Mark’s book, listed to the right, and was impressed with his trading strategy that draws upon stage analysis and his own brand of stock trading. I had also admired the writings of David Ryan, William O’Neil’s protege, and require all of my students to read his wonderful chapter in Market Wizards.
While I was expecting to learn a lot from these masters, I was not prepared for the compassionate and decent human beings that these two men are. They greeted me and immediately offered to present a lecture (by Skype) to my students. They both are dedicated to educating young people in financial literacy and in how to manage risk in the stock market. And if that wasn’t enough, I was amazed to see how many of the traders came up to me and thanked me for teaching technical analysis to students at a university. The personal qualities of the attendees was far beyond anything I had expected and created a warm and receptive environment for the workshop. As I left the workshop, Mark reiterated that he wanted to begin teaching my students as soon as possible–wow!
The first two days (Saturday and Sunday) we spent almost 12 hours each day listening to Mark and David. We could have been just as easily in a desert rather than a beautiful and fully supportive resort hotel. All were totally focused on the information being presented. They showed over 600 slides that taught everything from how to select stocks, the price patterns that are most profitable, the way to set stops, pyramid up, and close out positions. They gave the best information on the value of cutting losses that I have ever seen. I also got a real feel for the benefits of using IBD’s MarketSmith service. (And no, Mark did not even once try to take advantage of the opportunity to sell any of his other trading books or services–what integrity!) Mark would not leave the training room until people had an opportunity to ask every question they had. I have never witnessed in a prestigious speaker such devotion to educating and serving every attendee.
The third day (Monday) was a newly added feature. We watched Mark and David prepare for the market open, and then observed them and Mark’s associate, Bob Weissman, actually place trades. This experience gave me a unique insight into what it really takes to trade stocks profitably as a business. Monday evening ended the long day with Tony Robbin’s son, Jairek Robbins, conducting a 3-hour session on how to enhance one’s psychology and well being to enable one to handle the stresses and requirements of trading. This was also an invaluable experience. That session ended around 10:00 PM!
I found that Mark has put together a program to enable people to ready themselves for trading successfully. He has put into a 3 day session much of what it took me over 50 years to learn. I may even attend again next year, as many of the other attendees were doing. I am now eager to infuse my curriculum with the new insights I gained and look forward to the day when Mark and David will present a lecture directly to my students. Thank you to Mark, Bob and David and to the attendees, my new stock buddies.
6 thoughts on “Back from Mark Minervini’s Wonderful Master Trader Program”
Dr. Wish , it was such a pleasure meeting you at the seminar. So glad that Mark & David are going to discuss how to build wealth with your students. That is such an amazing opportunity for them and all because you attended this seminar! Thank you so much for chatting with me and imparting you wisdom!
Carolyn, you are too kind. Thanks for putting yourself in this space and contributing to me and the other attendees.
Could you perhaps add a brief explanation about this comment that you made? I have been looking at this product and your impression of it would be useful.
” I also got a real feel for the benefits of using IBD’s MarketSmith service”
I saw for the first time all of the technical and fundamental information displayed on a single page for each stock. It looked very efficient. There was also an ability to scan the IBD database for stocks using their indicators.
The methodology that Minervini teaches worked great until 2008 and then progressively lost its edge as the market became more and more algorithm oriented. I mean, 70% of current trading volume is done by algos that many of them statistically arbitrage stocks thar extends out of the normal range preventing brekouts and trends to work as in the past. Unfortunately Minervini does not tell you this and does not tell that he makes way much more money selling books and seminars rather than trading. I am a professiona investor and feel bad how this guy scams people selling a strategy that really no longer works in this market. All what You are reading here willl make sense to you after several months of trying.
I totally disagree Mark has great insight and I have found much value in his work, along with other very successful traders such as Dan Zanger. Controlling risk is the key and I find that both Mark and Dan make this the priority. Thank you Dr. Wish for your insight and putting together a great website.