**MARKET WIZARD** ALERT

MARK D. COOK --- Farmer/Broker
& A Option Buyer

A thread in Collaboration with @kalpeshmewada49

MARK D COOK has a very interesting market story.

He was first fascinated with markets as he had some quick easy money options buying successful trade(1978)
Then he blew his entire capital on Options that expired worthless

For more Doses of Market Wizards follow
@WisdomsWizards
After that, he made lots of money selling options(Short straddle) and then blew all and much much more over a single trade(1982).

At the time of Stock Market Wizards(2001), he was USIC champion as an Option Buyer with annual returns ranging from 30% to 1400%

Let's find out how
He took a break from trading after the 1982 debacle and started again in 1984

His first big profitable year was 1986.
In 1986, he began keeping a 'daily trading diary'.

Every day he wrote down recurrent patterns that he noticed in the market.
One indicator he developed is what he called - "tick", which is the number of New York Stock Exchange stocks whose last trade was an uptick minus the number whose last trade was a downtick. When the market goes
up, the tick will be +=VE, and when it's going down, it will be --Ve.
He noticed that whenever
the tick became very negative, the market would tend to snap back on the upside. Conversely, strongly positive tick readings seemed to be followed by sell-offs.
When this total gets below the historical 5th percentile, it signals an oversold situation [a buying opportunity], and when it gets above the 95th percentile it signals an overbought situation
Three Days Max: He Holds trades for not more than 3 days once they become profitable.
Anecdote of his Million Dollar "Long Gamma" trade:
The Confidence Game: Whenever he was down "Frequency" of his trading stepped up
But at the same time, he stops his bleeding by aggressively reducing position sizes.
He just wants to put a winning trade no matter how small to gain confidence.
A winning trade gives him "Confidence that he can make MONEY".
His Lazzy FRIDAYs: While reviewing his Past trades he realized his worst trading days were Friday as he gets "complacent from Early weekdays profits"
Advice on Treating Trading as Business:

What markets are you going to trade? You need to select a market that fits your personality.
A account large enough to make money "not less than your JOB".
How will orders be entered? Will you scale into positions or put them all at once?
Drawdonws that will ask you to Revaluate your approach.
Drawdowns where you would shut down Tradings.
Profit Goals should be clear over the shortest terms and over longer periods.

Methods to not let Personal Problems affect your Tradings
WHY TRADERS FAIL: They underestimate the time it takes to be a Good Trader and Under Capitalization
Anybody can be a Market Wizard:
"I represent the average guy out here in rural America, in the U.S. Midwest. I sit in my great-grandfather's farmhouse, staring at a computer screen, and I can make a living trading. That's why I
90
believe
there is hope for people anywhere to do this. But you have to be willing to work hard and pay your tuition, which is the money you lose while you're learning how to trade.
People ask me all the time, "How long do you think it will take for me to succeed?" I tell them, three to five years of twelve-hour days and losing money. Very few people want to hear that."

**************************************************************
End of threat.
If you find any value do
Read our earlier thread on Amrit Sall
https://t.co/2Sw4fP2576

More from All

#தினம்_ஒரு_திருவாசகம்
தொல்லை இரும்பிறவிச் சூழும் தளை நீக்கி
அல்லல் அறுத்து ஆனந்தம் ஆக்கியதே – எல்லை
மருவா நெறியளிக்கும் வாதவூர் எங்கோன்
திருவாசகம் என்னும் தேன்

பொருள்:
1.எப்போது ஆரம்பித்தது என அறியப்படமுடியாத தொலை காலமாக (தொல்லை)

2. இருந்து வரும் (இரும்)


3.பிறவிப் பயணத்திலே ஆழ்த்துகின்ற (பிறவி சூழும்)

4.அறியாமையாகிய இடரை (தளை)

5.அகற்றி (நீக்கி),

6.அதன் விளைவால் சுகதுக்கமெனும் துயரங்கள் விலக (அல்லல் அறுத்து),

7.முழுநிறைவாய்த் தன்னுளே இறைவனை உணர்த்துவதே (ஆனந்த மாக்கியதே),

8.பிறந்து இறக்கும் காலவெளிகளில் (எல்லை)

9.பிணைக்காமல் (மருவா)

10.காக்கும் மெய்யறிவினைத் தருகின்ற (நெறியளிக்கும்),

11.என் தலைவனான மாணிக்க வாசகரின் (வாதவூரெங்கோன்)

12.திருவாசகம் எனும் தேன் (திருவா சகமென்னுந் தேன்)

முதல்வரி: பிறவி என்பது முன்வினை விதையால் முளைப்பதோர் பெருமரம். அந்த ‘முன்வினை’ எங்கு ஆரம்பித்தது எனச் சொல்ல இயலாது. ஆனால் ‘அறியாமை’ ஒன்றே ஆசைக்கும்,, அச்சத்துக்கும் காரணம் என்பதால், அவையே வினைகளை விளைவிப்பன என்பதால், தொடர்ந்து வரும் பிறவிகளுக்கு, ‘அறியாமையே’ காரணம்

அறியாமைக்கு ஆரம்பம் கிடையாது. நமக்கு ஒரு பொருளைப் பற்றிய அறிவு எப்போதிருந்து இல்லை? அதைச் சொல்ல முடியாது. அதனாலேதான் முதலடியில், ஆரம்பமில்லாத அஞ்ஞானத்தை பிறவிகளுக்குக் காரணமாகச் சொல்லியது. ஆனால் அறியாமை, அறிவின் எழுச்சியால், அப்போதே முடிந்து விடும்.

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