In the context of your business plan, you need to show your competitive advantage. It is easy to be gamblers in the market and hard to be businesslike investors/traders. What's your investment/trading philosophy which will decide your unique competitive advantage of your business and is critical since it would affect the goal of your business and the approach to move toward your goals. You have to take the stocks as real business, which should have the competitive advantages. You have to know each business with the competitive advantage has its intrinsic value. You have to pay reasonable and affordable, or lower price for this competitive advantage, so that their competitive advantage would be your competitive advantages in financial and economic output. The reasonable price would greatly enhance your business output, the cash stream and also provide the protection for your business. The market fluctuations is not your enemy but is your business advantage. The valley of the price movement of a business stock with competitive advantage would provide the necessary margin of safety, which is the buffer to make your portfolio stay without losses in worst time. If you take the stocks as real business rather than the traded papers you would need to know what the competitive advantages of the business of your stocks. These competitive advantages would set their business apart from the competition. It means their business and then your business would have strong platform to do so. If you could identify the excellent business, buy the stocks of the business at their price is lower or much lower than its intrinsic value, your business would produce excellent results in financial terms. So as the owner of the investing or trading business you have to develop the capability to identify the competitive advantage of the stocks, conservatively to manage its portfolio with big enough cash reserve in case the market is worse than the price which has provided quite satisfied margin of safety. The cash reserves would give you two advantage. 1. Never sell on fire, which is the matter all of good business tries to avoid. 2. Buy or swap the shares for better price so that reduce the costs of the product, the stocks your would like to hold and expect the market does its best to add value to the product. I do feel my knowledge base in finance, economy, market sentiment and human psychology, and personal behavior is very weak. So that I have tried to buy in worst time and sell in good time only. Now by thinking about to write my business plan, I start to understand I need to focus on the direct goal of the business. This competitive advantage of the business needs the quality of the stock in the business sense. Once I finish the first draft of my business plan I would put my focus on how to identify qualified stocks! Logically I need to do so also. I want my business like a little Casino house to entertain the market warriors or self-called investors who like the swans in the best market time.