Mark Ritchie II has won Mark Minervini’s Triple-Digit Challenge.
At the conclusion of the 2010 Master Trader Program, Mark Minervini threw down the gauntlet and challenged his attendees. He said: “Every one of you in this room here today now has the tools to produce a 100% return in your trading accounts within 12-months. The first one of you that reaches this goal can be a guest in my home and come and trade side-by-side with me for a day. All expenses for the trip will be paid by me.”
Mark Ritchie II from the Chicago area conquered the challenge. Utilizing the SEPA® techniques he learned during the 2-day Master Trader Program last October, Mark turned his $25,000 trading account into more than $50,000 in just 5-months.
Mark Ritchie II with Mark Minervini
Wait, there’s more!!!
Two days after we confirmed Mark Ritchie’s results, a second Master Trader Program alumnus reached the 100% mark; Matt G of Connecticut traded his $850,000 account to a triple-digit gain.
Matt Glascoff with Mark Minervini
CONGRATULATIONS TO THE BOTH OF YOU…
WINNER MARK RITCHIE'S STATS AND COMMENTS
Name: Mark Ritchie II
Account Size: $25,000
Period: October 20, 2010 – April 4, 2011
Use of leverage: Yes, as much as standard Reg-T margin would allow for, roughly 2:1
# stocks traded: 139
Position Sizing: Aprox. 25%
Net reward/risk ratio: 2.42:1
% Trades Profitable: 43%
Quotes: Interactive Brokers, TradeStation
News: Interactive Brokers, Marketwatch.com, Yahoo Finance
Click to enlarge image
How trading ideas were generated:
Used basic screens which I derived from information learned from Mark Minervini's Master Trader Program, at Minervini Private Access, and Mark’s blog; earnings, RS, Mark's Trend Template and things he has discussed at length.
Technical entry criteria:
Only entered if I had a visual stop on the chart I was comfortable with, the smaller the better, usually in the mid single digits, would look for charts with tightness on the right side with accompanying patterns discussed at Master Trader Program and in his workbook, i.e. cup w/ handles, power plays, 3C's and the like. Once I had determined tradable pivots I would enter upon subsequent breakouts.
Tried to look for stocks with best earnings, although good technicals would sometimes override fundamental criteria, but basically companies with accelerating earnings and sales, usually 25% or higher
Criteria for taking profits:
This was the toughest part but usually looked at current gain to average gain and where the chart looked at a given period, i.e. if the stock was above my average gain and looked extended I would look to take profits, I would often take profits into weakness when stocks would take out previous significant lows on their respective charts. I also used some of the moving average rules discussed for selling in the Master Trader Program workbook.
Criteria for loss protection:
Get out quickly whenever the stock hit my predetermined loss point, usually the point at which the chart started to break down. When the stock hit my pre-determined loss point I would get out ASAP!
In short I can say that all the performance is a function of what I learned at the Master Trader Program with the exception of the money management portion, as I have always traded strictly based on the #'s of my own trading, avg. W/L, win rate, etc. So once I became more & more comfortable that I could maintain an edge that was mathematically deserving of a 25% position size I started trading larger and more aggressive. That said on the money management side all of the stock specific criteria as far as fundamental and technical selection I would say came purely from Mark's teaching. I should also add that in no way do I feel that this period was some of my best trading as I made many mistakes and I believe that I am capable of much better overall trading the more I continue to put into practice what I've learned. There's not much else to add other than the guy is as good a teacher as he is a trader!