January 18, 2019

Mark D. Cook: Having A Business Plan For Trading

Mark D. Cook was one of the few day traders interviewed by Jack Schwager on his Market Wizards books (Stock Market Wizards, Mark D. Cook: Harvesting S&P Profits). In this presentation Mark stresses out the importance of treating trading as a business.

"In my own experience as I started with the business training plan in 1991 and I have been doing it every year since. It added to my bottom line because I had scenarios covered of what to do, when to do it and how to go about it before as I said before the emotions came on to it."

A few of the best quotes from his interview on the Stock market Wizards book are:

"The best trades work the quickest."

"If you decide to trade for a living, you have to treat it just like any other business endeavor and go into it with a plan."

"You need to have a solid business plan. The trouble is that most people start trading without any definitive plan."