Think & Trade Like a Champion: The Secrets, Rules & Blunt Truths of a Stock Market Wizard

I have read his book, "Think & Trade Like a Champion", his companion book, "Trade Like a Stock Market Wizard", and "Momentum Masters", where he is inteviewed along with 3 other top traders: David Ryan, Mark Ritchie and Dan Zanger. And I have met all of them. I also attended Mark's recent 2019 "Master Trader Program" which also featured David Ryan and Mark Ritchie. In over 35 years of investing and trading, I have read all the important books on investing and trading. Mark builds on the formidable foundation built by Jesse Livermore, Richard Wychoff, and William O'Neil, among others. If you've read O'Neil's book, "How to Make Money in Stocks", you have the foundation that Mark builds upon. In fact, he attributes much of his success to the techniques taught by O'Neil. But Mark expands upon O'Neil identifiying what he calls the "Volume Contraction Pattern". O'Neil touches on the pattern but Mark really explains it and shows it in action, time and time again. The precise characteristics become quite clear. More importantly, Mark shows how he manages his money, manages his risk, deals with volatile or flat markets, and methodically manages every aspect of his trades. How he preps for the next day, how he gauges the market environment and precisely how he uses stops to control risk. Mark's books are indespensible to anyone looking to trade the market and protect their investments. They are essential. Along with O'Neils books, they give you everything you need to succeed if you can stay disciplined enough to follow the rules he lays out. It is as much a psychological war within as it is a war with the market. Perhaps more so. But with the knowlege he imparts in these books, the rest is up to you. If you had to read only 2 books about investing in stocks, I would recommend Mark's two above all others.

In How to Make Money in Stocks, William O'Neil explains a breakout style of stock trading, used by Jesse Livermore and many others. In Trade Like a Stock Market Wizard, Mr. Minervini gives instructions on how to implement such a system profitably, and he includes his own modifications. He has a clear, almost conversational writing style, and covers a myriad of situations with charts and examples. I was (still am) very new to stock trading when I read these books. They helped me immensely. I highly recommend this second book, Think and Trade Like a Champion. If you are curious about which of these books to buy, the answer is buy both. They are not repetitive. Think and Trade Like a Champion adds finer detail on what is covered in this book. I didn't realize how completely clueless I was about this until I read these great books. His third book, Mindset Secrets for Winning, is excellent, as well. If the first book describes the rules of the game and the second details what to do to be great at it, the third explains what prevents someone from winning and how to overcome those obstacles. This is not a perfect analogy, and I am sure Mr. Minervini could have said it better! (Thank you again for writing these books.)

Outstanding book.

Great book

Definitely focuses your skills at trading and make you think before hitting the buy or sell button. I like the analogy of keep your trades in the strike zone. Warren Buffett said something similar. My trades are much better now and I have more control. This book helped me trade like a champion.

I came to trading and investing late in my adult life. This was an area that I never really understood or had much comfort in. I started investing with so called financial advisors and was getting mediocre returns and excuses at every turn when I questioned their performance. Due to my ignorance of markets and my trust in so called “experts” I felt I was being taken advantage of. No matter how poorly my portfolio did, the advisor / broker always made their money. At that point I decided not to trust my financial future to anybody else and take it into my own hands. If I did not do well, I was the only one to blame. I read a number of books and websites/blogs on trading that either didn’t make sense to me or were outright scams After reading William O’Neil’s book How to make money in stocks. I finally found material to resonated with me, made sense, and didn’t sugar coat the risk involved in the market and the work it really takes to extract money from the market. O’Neil’s work led me to Mark Minervini’s, an O’Neil disciple. I bought Trade Like a Stock Market Wizard and Think & Trade Like a Champion and devoured them both in four days. I could not put the books down. The books were like drinking from a fire hose. There was so much information presented in a simple, clear, and concise manner. I use the word simple as the ultimate compliment of sophistication. The most sophisticated ideas appear simple, that is ultimate measure of sophistication. My head was spinning with all the ideas from Mark’s book that I decided to instead of reading 20 more books on trading. I would read Mark’s books 20 time over and over again. Each time I read them I the ideas started to gel and make sense to me. I went from super beginner, not even knowing how to place a trade. To being able to hold my own in conversations with experienced traders, with years and success under their belt. Mark’s focus on risk management, how to back into a trade risk first, risk reward ratios / getting odds were a game changer for me. When I first started trading it was in very volatile time in the market. The risk management rules, low risk entries into stocks and placing the correct stop loss allowed me to weather a difficult time in the market while learning, gaining experience, and coming out on the other side with all my capital intact and a small gain. This was while many experience traders that I knew where getting chopped up in a whipsaw market and had big losses. I will say that honestly it took me about 18 months of reading and re-reading and studying Mark’s books to really get a handle on his system and to understand what really moves markets, supply and demand and timing low risk entry points into the market. Understanding the Mark’s system is not something that works in all market conditions and that you don’t have to trade every day to make significant returns was an eye opener for me. The system has taught me when to go to cash, when to put a toe in the market and when to get aggressive. This book has been a game changer for me. It has changed my entire outlook on my life and has given me control of my financial future. I have gifted it over 10 times to close family and friends. And I continue to recommend it as probably the only trading book you will ever need.

One of my favourite books on trading by a top trader. Practical and solid stuff

This book is a must read for anyone who has ever dreamed of becoming a professional trader. Mark is one of the famed “Market Wizards” who has achieved consistent and outstanding performance in the stock market over many decades. He has been there and done it. Breaking the magician’s code, Mark reveals how he did it. The book explains the fine points of his methodology, trading plan, money management techniques and thought process like no other stock market book I have read. Let’s face it, few if any top professional traders ever reveal their entire methodology in a book and none in such fine detail. His market mastery is truly displayed in this one. The book is full of in-depth knowledge, motivating and powerful anecdotes and refreshingly blatant straight forward advice on trading. It is written in an easy to read conversational style which make you feel like Mark is sitting next to you, teaching, coaching, and motivating you through the book. The book is clearly for the reader who truly wants to succeed in trading. Although much of the book can apply to any trading style, I would recommend reading Mark’s first book before reading this one. Having been a professional trader for many years and read countless books on the market, I have no doubt Marks’ books are sure to be alongside the other great trading classics which have stood the test of time.

Livro essencial para quem quer se dedicar a está fantástica atividade que é o Trading! Estudo obrigatório. Dever ser lido!

Good for traeder

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