I've been trading for a long time.
I've studied thousands of stocks, spent years developing my skills, written books about trading, and coached other traders.
And yet, working directly with @markminervini has made me realize just how much I still have to learn.
I honestly didn't realize how much I needed to fine-tune.
Mark is far more dialed in than I am.
He's more patient than I've ever been. But he's also faster.
He's quicker to recognize when conditions are changing, quicker to step on the gas when things start working, and better at staying with positions when they're behaving properly rather than getting shaken out prematurely.
He's also more creative in how he approaches opportunities, while still operating within the confines of his system and managing risk.
It's been eye-opening.
Because these aren't necessarily things you learn simply by reading another book or studying another chart.
There's a level of timing, judgment, and execution that comes from developing a skill to an extraordinary degree.
And sometimes you don't even recognize what's missing from your own approach until you're around someone operating at that level.
One of the things I've been reflecting on lately is the importance of remaining teachable.
It's easy to think you've figured things out when you've been doing something for a long time.
But being around people who are much further ahead of you can reveal things you didn't even know you needed to work on.
I'm grateful for the opportunity to keep learning.
And I hope I never lose the willingness to do so.
At the @markminervini Gala, Reggie Sanders shared something about hitting a baseball that really stuck with me.
Not every strike is your pitch!
Think about that for a moment...
A pitch can be in the strike zone and still not be the pitch you're looking for.
You don't have to swing just because you can.
Trading is much the same.
A stock can have a decent setup. It can meet some of your criteria. It might even work.
But is it really the kind of opportunity you're looking for?
One of the things I've learned over the years is that there's a big difference between finding a trade that might work and finding one that deserves my capital.
I don't need to participate in every move.
I need to recognize the opportunities that fit what I do best, prepare for them, and be ready when they come.
Sometimes the hardest part of trading isn't knowing when to swing.
It's having the patience to wait for your pitch.
The problem with emotion in trading isn't necessarily whether the emotion is positive or negative but what the emotion does to our attention.
It distracts!
For example, if I'm focused on how good I feel about a trade, I'm not completely focused on managing it.
If I'm focused on how frustrated I am about a loss, I'm not completely focused on the next decision.
The goal isn't to become a robot. We're not.
We're going to feel things when real money is on the line.
The challenge is being able to feel the emotion while keeping your attention on the task at hand.
The process.
The execution.
The next decision.
I've gotten myself into trouble on the positive side plenty of times.
When I became too excited about a stock, I started seeing it through rose-colored glasses.
"This could be a monster."
"Maybe I've got a tiger by the tail."
Those possibilities started feeling more and more plausible. Not because the evidence had changed. But because my emotional state had.
For me, that sometimes meant giving a stock more room than I should have. Or not selling into strength when my process told me I should.
Risk management started taking a back seat to what I hoped the stock might become.
That's the danger.
Emotion doesn't have to disappear for you to trade well. It just can't be allowed to take your attention away from execution.
There was a time when I'd look at my P&L just to see how I should feel. Sometimes it'd be shortly after the open. Sometimes in the middle of the day.
If I was up, I'd feel good. Confident. Maybe even a little excited. If I was down, suddenly I'd be questioning myself. Maybe feeling frustrated, regretful, or insecure.
But what exactly was I learning from looking at that number?
A stock that's down in the morning can recover by the close. One that's up nicely can give it all back. And neither tells me whether I followed my trading plan!
Over time, I realized how much I was allowing a constantly fluctuating number to influence how I felt about myself and my trading.
That needed to change!!!
Today, I spend much more time preparing, planning, practicing, and reviewing my execution.
Before I enter a trade, I've already thought through what I'll do if it works, what I'll do if it doesn't, and how I'll manage it along the way.
Of course I still look at my P&L but I'm not looking at it to find out how I should feel. I'm looking at it with the perspective that comes from having a plan and knowing what I'm supposed to do.
The questions that matter most haven't changed.
Did I follow my rules?
Did I take the trades I was supposed to take?
Did I manage risk properly?
Did I execute the plan?
My P&L tells me how much money I've made or lost.
My process tells me how well I've traded.
Michael Lamothe retweeted
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Here's a question worth asking before your next trade:
"Would I take this same setup 100 times?"
Not the same stock. Not knowing how the trade will turn out.
The SAME SETUP, under similar conditions, with the same entry criteria and risk management rules.
If the answer is no, why consider it today?
One of the lessons that stuck with me from @markminervini Gala was this: "If a trade isn't worth taking repeatedly, why take it once?"
It's easy to rationalize a trade that doesn't quite fit.
Maybe the story is compelling.
Maybe the stock is moving quickly.
Maybe we're frustrated because nothing else is setting up.
But if the trade isn't something we'd want to repeat over a large sample, what exactly are we building???
A trading strategy needs repeatable decisions.
One lucky outcome doesn't make a poor decision worth repeating. And as Mark says "Someone hits the lotto every week but the name is always different!"
Overtrading isn't always about being reckless.
Sometimes it's simply the inability to sit still when there's nothing to do.
I went through a long tinkering stage in my trading.
I'd make a mistake or notice something interesting and immediately wonder: "What if I did this on every trade?"
Then I'd test it.
I'd go back through old trades. Look at different scenarios. Try to figure out whether I'd discovered something that could improve what I was doing.
Every now and then, I'd actually find something useful. I don't look back and think all of that work was wasted. But something interesting happened as I gained more experience.
More often than not, I'd eventually come back around to realizing that the system I'd originally learned was already right. I just hadn't understood it deeply enough yet.
That's a difficult thing to recognize when you don't know what you don't know.
You think you're improving the system. Sometimes you're really just working your way toward understanding why it's built the way it is.
For me, that understanding didn't come from tinkering alone. It came from the full body of experience.
Trading.
Studying.
Testing.
Making mistakes.
Watching thousands of stocks.
Learning alongside other traders.
And especially having the right mentor.
Over time, some of my tinkering became a deeper understanding of the principles I had been taught years earlier.
There's a big difference between knowing the rules of a system and understanding them deeply enough to know why they're there.
It took me a long time to appreciate that.
Michael Lamothe retweeted
Our long-term SPY model went on a Buy Signal on May 8, 2025. Recently, however, we've seen a shift in several of the model's underlying components that could lead to a Sell Signal in the near future.
Don't get caught on the wrong side of a bear market.
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One of the biggest dangers in post-analysis is hindsight bias.
You pull up an old trade and immediately see the entire chart.
Now you know the stock went up 50% after you sold it.
Or collapsed right after you bought it.
And it's almost impossible to completely unsee that information when judging the decisions you made at the time.
Here's something I've found helpful:
When reviewing your buys and sells, drag the chart over so you can only see what was available when you entered the trade.
Then advance it one day at a time.
Get to your entry.
What did you know then?
Was the buy sound?
Did it meet your criteria?
Keep advancing until you reach your sell.
Now ask the same questions.
Was the decision sound based on the information I had at the time? Did I follow my process?
Only then should you advance the chart and see what happened afterward.
And now you're asking a different question:
What can I learn from what happened next?
Maybe you'll discover a way to improve your rules or develop a new tactic.
Maybe you'll discover that your original decision was perfectly sound and shouldn't be changed at all.
That's why I wouldn't change a rule because of one trade. I'd want to see the same thing across a meaningful sample of trades.
Questioning your process is a good thing.
But it needs to be done well.
Done poorly, you can end up changing a perfectly good process because you already know how the story ends.
Done well, questioning your process makes it stronger.
Michael Lamothe retweeted
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Sometimes we ask the wrong question...
Imagine going to someone FAR WISER and more experienced than you with a lock you can't open.
You ask them to unlock it.
Instead of unlocking it, they take the lock and throw it into the ocean!
What do you do???
Do you dive into the ocean, retrieve the lock, and bring it back, hoping that maybe they'll unlock it for you this time?
Or do you stop and wonder why they threw it away?
I've been thinking about this a lot lately, especially when it comes to learning from people who are further along than I am.
Sometimes we're so focused on getting an answer that we don't realize the question itself may be the problem.
We want someone to help us solve something we've already decided needs solving... But what if it doesn't?
What if the thing we're struggling so hard to figure out is something we should let go of entirely?
Being teachable requires more than being willing to listen to an answer.
Sometimes it means being willing to let go of the question.
Or, as @markminervini reminded us at the Gala:
"EMPTY YOUR CUP."
Michael Lamothe retweeted
Our long-term SPY model went on a Buy Signal on May 8, 2025. Recently, however, we've seen a shift in several of the model's underlying components that could lead to a Sell Signal in the near future.
Don't get caught on the wrong side of a bear market. You could be buying at exactly the time you should be raising cash.
KNOW THE DIFFERENCE.
To learn more, call 917-268-1800 and speak with a live person about the model and how Minervini Markets 360 can help you dramatically improve your performance and effectively manage risk.
Michael Lamothe retweeted
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Michael Lamothe retweeted
My formula for success:
Find someone who has already achieved what you want to achieve - someone whose results you trust.
Internalize not only their strategies and tactics, but also their beliefs, mindset, and way of thinking.
Learn to see the world through the lens that produced their success.
Be open to ideas and concepts you disagree with; things that seem strange or different.
Then commit to unconditional persistence in the direction of your dream.
Be patient. Give yourself time to develop. Stay the course long enough for the lessons to take root, the skills to compound, and the results to emerge.
Model success. Trust the process. Persist without condition.
I try to be apathetic to my trades. That may sound strange. Obviously I want them to work.
And for a brief moment when a stock starts taking off, I may feel pretty good about it. But I try to keep that under control too.
Because whether I like a stock, hate a stock, feel excited about it, or feel disappointed by it, it doesn't really help me manage the position.
I'm trying to ask much simpler questions.
Does it fit my criteria or not?
Is it behaving well or not?
Has it reached my average gain or not?
Is it time to take some off the table or not?
As the trade progresses, more options open up.
Maybe I sell some into strength.
Maybe I raise my stop.
Maybe I give the remaining shares more room.
Maybe the stock gives me a reason to exit.
Those decisions should come from what the stock is doing and where I am in the trade. Not from how badly I want it to become a big winner. And not from how happy I am if it's already working.
I've learned that excitement can influence a trader just as easily as fear can. Both can pull you away from the process.
I don't need to love the stock. I just need to manage the trade.
Sometimes knowing more about a stock can actually make it harder to trade.
I've experienced this myself.
You learn the story.
You understand the company.
You know why earnings should improve or why a particular theme could become huge.
And before long, you start to feel like you "know" something.
That's where I have to keep myself in check.
Because the more attached I become to the story, the easier it is to put the blinders on.
I can start seeing what supports my view and overlooking what doesn't.
I can give a stock more benefit of the doubt than I would give another stock.
Or keep waiting for the stock I "know" should work while something else is sitting right in front of me actually working.
Today, I'll take the one that's acting right.
That doesn't mean the story doesn't matter.
It means the story doesn't get to override what the stock is actually doing.
There's a subtle danger in thinking you know something the market doesn't.
Sometimes you do.
But sometimes that knowledge becomes the very thing preventing you from seeing clearly.
The more convinced I am that I know something about a stock, the more important it is for me to make sure I'm still listening to the stock.
A good trade can feel terrible. A bad trade can feel great.
That's one of the reasons I don't try to grade my trades in the moment.
If I take a loss, it still stings. Not like it used to, but I'm human. I lost money.
And if I break a rule and the trade happens to make money? In the moment, I'm probably pretty happy about that too.
Neither feeling tells me whether I traded well.
I've learned to separate the emotional experience of the trade from the evaluation of it.
I journal every day. That's where the emotions go.
What was I thinking?
What was I feeling?
What was frustrating me?
What was I excited about?
But I usually let a week or so pass before I do the actual post-analysis and grade the trade. By then, I'm looking at it with fresher eyes.
Then I can go back to the chart and evaluate what actually happened.
Did I follow my process?
Was the setup there?
Did I manage risk correctly?
Did I execute the trade the way I was supposed to?
And I can go back to my journal and see exactly what I was thinking and feeling while it was happening.
That combination has been incredibly useful.
Because sometimes I'll discover that the loss that bothered me was actually a very good trade.
And sometimes I'll discover that the winner I felt great about was a trade I never should have taken.
The P&L tells me whether the trade made money. Post-analysis tells me whether I traded well.
There's a big difference between studying trading and training to become a trader.
I think that distinction gets missed.
You can read every trading book you can find.
Study charts for hours.
Watch videos.
Learn setups.
Know everything you're supposed to do.
But knowing isn't training.
Think about professional sports.
There are fans who know an incredible amount about the game. Some probably know more statistics about individual players than the players know about themselves.
But that doesn't make them professional athletes.
The professionals train.
They drill.
They practice.
They review performance.
They work with coaches and mentors.
They surround themselves with other professionals.
And they do it over and over again.
They treat it like a career.
I think trading is similar.
A trader can know they're supposed to cut losses quickly and still struggle to actually do it.
They've read about it.
They understand why it's important.
But have they trained themselves to execute it?
Have they reviewed hundreds of their own trades?
Have they practiced the behavior?
Do they have someone experienced looking at what they're doing?
Are they surrounded by people treating trading like a profession, or are they mostly talking with other hobbyists trying to figure it out themselves?
There can be some incredibly knowledgeable hobbyists. But knowledge alone doesn't create mastery.
At some point you have to move from "learning about trading" to "training to become a trader".
That's a distinction I spent a lot of time thinking about when I wrote The Trading Mindwheel.
The book isn't just about what traders should do. It's about developing the awareness, habits, processes, and skills necessary to actually do it.
Because ultimately, knowing what to do isn't the finish line.
Being able to do it consistently when it matters is.
If you'd like to learn more about The Trading Mindwheel:
tradingmindwheel.com










