Trading Lesson of the Week

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Trading Goals Are Meaningless - Stockscores Perspectives for Mar 25 2024

In This Week’s Issue:

  • Upcoming Events – April Webinars
  • Market Outlook – End of Quarter, Earnings Start in Two Weeks
  • This Week’s Market Minutes video – You Must Know this Stock Trading Signal
  • Trader Training – Trading Goals are Meaningless
  • Strategy – Abnormal Stocks to Watch


Upcoming Events – Education Webinars in April

Simple Strategies to Find Hot Stocks and Avoid Stock Market Crashes

Saturday, April 06, 2024 10:15 AM PT


Day and Swing Trading for Full or Part Time Income

Wednesday, April 10, 2024 6 PM PT


How to Invest in the Stock Market Successfully

Thursday, April 11, 2024 6 PM PT


How Stockscores Tools and Education Can Help You Make Stock Market Profits

Saturday, April 13, 2024 10:00 AM




Market Outlook – End of the Quarter, Earnings Start in Two Weeks

The last few weeks of the quarter are often quieter for the stock market with lighter trading volumes. Earnings announcements generate action in the market and change the energy of traders so expect a pick up in the “energy” around the second week of April. In the meantime, traders should focus on sectors that come alive (like Cannabis did a week ago) or the small cap stock that suddenly comes alive with abnormal volume and a high number of trades. The trend is up so be patient with winners and cut losers when they break down through support.


This Week’s Market Minutes video – You Must Know this Stock Trading Signal

Most strong stock price trends start with the same important signal. This week, I show you what you can use to make more profitable trades. Then, I provide my analysis on stocks, commodities, bonds and the currencies before the trade of the week on ACB and CGC.

Click Here to Watch


Commentary - Trading Goals are Meaningless

Investors and Traders will often set goals. Make $1000 a day, earn 20% return in the year, avoid big losses.

These are meaningless.

They are obvious; everyone wants to do these sorts of things. However, most people will not achieve because having the goal is not enough. Instead, you have to have the systems in place to find success.

Does a golfer who states that their goal is to win the tournament win because they made the goal? Of course not; every golfer in every tournament has the same goal but there is only one winner. The one who wins performs better than the rest.

Performing better means more practice, better analysis, stronger mental preparation, a higher level of determination and any other factor that contributes to success. Goal setters dream, winners make it happen.

So, whether you are an investor or trader, you need to focus on the process. Do you have a strategy that works? Do you have tools that give you an edge? Have you practiced enough? Is there a system in place to identify and execute good trades? Do you have the support of someone who can help keep you on track? Are you determined to succeed? Can you overcome your emotional self?

These are simple things to say but harder to execute. They take more than lip service and goals. They take targeted action.

I find it is best to break down the goal into parts that can be delivered on. Here is how it might look for a person who wants to make $1000 a day by day trading the stock market.

  • I have a day trading strategy that can earn 4 times reward for risk (RR) per day. Some days will be more, some will be less, but an average RR of 4 per day is reasonable. This strategy is well tested and I believe in it. This strategy has specific rules for entry, exit, position sizing and process to identify trades.
  • Risk $250 per trade and averaging 4RR per day will mean $1000 a day in profit on average
  • Establish a gradual process of increasing risk to get to the goal. Start with $0 of capital and simply make practice trades to earn an average 4RR a day. Then use real capital, with a $50 risk tolerance per trade and achieve a consistent average of $200 a day. Once that is achieved, increase the risk to $100 a trade. Achieve success and then raise it to $200 a trade in risk. Step by step, always making capital preservation the number one priority.
  • Have sufficient capital to hold enough positions to achieve 4RR a day
  • Expect to have some losers and limit the size of the losses by selling when the trade breaks support
  • Allow winners to win by letting profits run until there is an exit signal
  • Use tools and a process to find trades in time to take advantage of them
  • Have the focus to repeat the strategy consistently
  • Constantly analyze the results to ensure the strategy continues to work and to identify failings in the execution of the strategy. What good trades did I miss? What invalid trades did I take? What were the problems in my execution?

Goals are easy and pretty obvious. It is the plan for achieving the goal, and then the purposeful action taken to get that is important. Stop dreaming and start doing.

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