“What do you want for your Birthday” if you don’t know and can’t answer you will probably get nothing, or something you could happily do without. How about Minervini’s second book “Think and Trade Like a Champion”. I could have bought it myself but couldn’t be bothered as it isn’t sold in the UK and I had heard it took weeks and cost unreasonable amounts of money. So I gave the problem to my daughter in law. She, who started work for my company at eighteen, married my son at twenty six and gave me two grandchildren, qualified as an Accountant and a first class human being over the subsequent years. Happy Birthday $36;93.

I like Minervini, he thinks like an entrepreneur, no degrees from the best universities, no academic theories that cause you to fall asleep or slit your wrists before you get to chapter three, just page after page of common sense. Two chapters in particular were sheer magic. I could hear many of the Minervini supporters on this site quickly flipping the pages just to get to the bit where the big bucks are made. Not realising that they will fail and give up having lost large amounts of money because of what they believed was the Minervini way to millions.

I will repeat what I have said many times on this site—“Anyone can make money in a bull market” or when the stock is rising. Those who go on to survive year after year and make the biggest gains are those who protect their gains and quickly cut their losses. A whole chapter on stop losses- I really don’t like stop losses I have been stopped out of so many good trades, but the moment I stop using them I lose big money, which is so hard to get back. I got an email from the broker recently telling me they had just failed to trigger the stop in one of my gold ETF’s. How come it was almost triggered? The stop was about fifteen percent below the price and there for emergencies only, after all the volatility in a gold ETF is extremely low and a fifteen percent overnight fall never happens. Sure enough it had happened, a clitch which doesn’t appear on the high/low because it only happened for a millisecond. I escaped and removed all my stop…

Unlock the rest of this article with a 14 day trial

Already have an account?
Login here