Stop Trying Too Hard
Stockscores.com Perspectives for the week ending November 16, 2015
In this week's issue:
In This Week's Issue:
- Stockscores Trader Training - Upcoming Webinars
- Stockscores' Market Minutes Video - Profiting From Market Weakness
- Stockscores Trader Training - Stop Trying Too Hard
- Stock Features of the Week - Downtrend Reversals
Stockscores November Webinars
Two free webinars this week and one next:
How I Day And Swing Trade The Market
Tuesday, November 17, 2015 6:00 PM PT 9:00 PM ET
Register
How To Grow Your Retirement Portfolio
Thursday, November 19, 2015 6:00 PM PT 9:00 PM ET
Register
How To Trade Stocks With The Stockscores Approach
Tuesday, November 24, 2015 6:00 PM PT 9:00 PM ET
Register
Stockscores Market Minutes Video - Profiting From Market Weakness
There are many ways to make money from a declining market, this week Tyler show you some ways to profit from market weakness.
Click Here to Watch
To get instant updates when I upload a new video, subscribe to the Stockscores Youtube Channel.
Trader Training -
I recommend reading a book called Trying Not to Try by Edward Slingerland. It discusses how the people who succeed at most anything do so without thinking too much. It is based on ancient Chinese philosophy call wu-wei (ooo way) that is very applicable in today's world. The athlete that thinks rather than performs moves too slowly to win. The artist who lets her head get in to her work produces undesirable art. In most things, you succeed by just doing, rather than trying too hard.
Consider this about the act of riding a bike. You could read a book about riding a bike; perhaps have someone explain in great detail how to do it. Will you be good at riding the first time you get on? Of course not! Despite having a good understanding of all of the rules that you need to follow in order to keep from falling over when you ride, most people will still stumble or crash when they try to do it. Beyond rules, you need to practice.
The same can be said for trading. To be a good trader, you have to practice and develop good strategies. From that practice, you gather the experience that allows you to trade well, to get in to the trading zone. Understanding the rules of trading can make your learning process a lot quicker and less expensive, but until you learn to effortlessly apply those rules and really understand them, you cannot get in to that zone of trading profitability.
This is not to say you should be impulsive and not think when you trade. You still have to read the market and make decisions based on what you see. The difference is that trading profitably requires that you keep your emotions out of the process and apply your strategy rules with the expertise that comes with practice. Think too much and you will lose.
A few years ago, I was at a car racing school. I loved it, learning how to go fast and stay smooth to keep the car in control as it flirted with breaking the laws of Physics. With each lap, I picked up speed and lowered my lap times until I got to the point where I was going really fast around some of the corners, fast enough to take me out of the zone that I was in with thoughts that crept in to my head, "what if I crash?"
Guess what happened? The moment I started to think too much instead of just doing what my skills allowed, I lost control of the car. Fortunately, it just meant an excursion off the course where the car did a bit of landscaping.
When you trade, you have to have your strategy rules but you have to understand them so well that they become part of you. Your knowledge needs to go from conscious thought to something that is closer to instinctual.
Think about areas in your life where you have gone from performing really well to making a lot of mistakes. What changed? There is a good chance that you just started trying too hard.
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I did a webinar on Saturday and discussed how trends typically reverse. You can watch it on Youtube by clicking here. I took those concepts and scanned the market for stocks that may be breaking a downward trend, here are two that look to be trying to turn around.Back To Top
1. KANG
KANG broke its downward trend line early in October but is now breaking higher from a rising bottom on the daily chart. Support at $15.
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2. AKRX
AKRX formed a little rising bottom last week and is breaking its downward trend line today, setting up for a possible reversal of the long term downward trend as long as support at $26 can hold.
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References
Get the Stockscore on any of over 20,000 North American stocks.
Background on the theories used by Stockscores.
Strategies that can help you find new opportunities.
Scan the market using extensive filter criteria.
Build a portfolio of stocks and view a slide show of their charts.
See which sectors are leading the market, and their components.
Disclaimer
This is not an investment advisory, and should not be used to make
investment decisions. Information in Stockscores Perspectives is often
opinionated and should be considered for information purposes only. No
stock exchange anywhere has approved or disapproved of the information
contained herein. There is no express or implied solicitation to buy or
sell securities. The writers and editors of Perspectives may have positions
in the stocks discussed above and may trade in the stocks mentioned. Don't
consider buying or selling any stock without conducting your own due diligence.
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