Mark Cook is a trader featured in Jack Schwager’s Stock Market Wizards book. Here‘s an interview he gave in May 2011 in Singapore.
Some of the most important points he makes:
- there is always an opportunity to make money in the markets. You just have to find it.
- you have to know yourself and develop your trading strategy to fit your personality
- don’t anticipate how much money you’re going to make trading, the market will dictate that
- he does very well 2-3 months of the year, treading water the rest of the time
- trading must be viewed as a business – you should never put yourself in a position that a trade can take you out of the game
- always use the same position size, don’t vary it based on your feeling of how good the setup is
- you have to focus on identifying danger first. Profits will take care of themselves
- in 1999 he wasn’t being asked for advice anymore, people were giving him trading advice
- if you think you’re bigger than the market, you’ll go down like the Titanic
- you need to have a business trading plan
- passion is very important for success
- you will have losing streaks and that’s when your confidence gets tested