A Trading Interview with Market Wizard Mark Cook

By | September 17, 2014

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