Is it true that I must treat stock trading like any other business?

If you treat you’re trading activity as a part time activity, then that is what is likely to remain. Warren Buffett always insists on seeing trading and investing as a full time business. That is the only way all the risk management practices and prudence of a normal business will come into your trading activity. When you look at trading as a business, you put profitability above all else. The biggest thing about business is the sync between risk and returns and that is what trading is all about. Start treating trading like a business and a lot of good will follow.