Quotes from Mark Cook’s lecture, ‘How to Lose Money Profitably’
From the TAG 21 conference in Las Vegas:
“A great trader who has made tens of millions of dollars from the stock and commodities markets told me the one individual universal reason for failure is the inability to take a loss. This has become my motto, as the true path to riches lies not with the wins, but managing the losses in a prudent, confrontational manner,” says Cook.
“The true path to success always must journey through failure. All–and I mean all–the million dollar traders I know had severe losses. And only when they coped with the losses did they achieve true success,” Cook said. “The road is long–perhaps five to 10 years. The emotions will sometimes be an obstacle that just plain wins that battle.
“The true winner is the one who perseveres. The race is a marathon and not a sprint. Recognition that all humans fall short of perfect is the first step to the trek to knowing yourself and knowing your limitations.
“However, you must also keep foremost in mind that our God-given talents are very rarely realized to the true extent of the gift.
“Trade and prosper–it is an attainable American dream,” Cook said.
