【阳光飞狐__与财富同行】

标题: 给joy111的《W.d. Gann Master Commodities Course(pdf)》 [打印本页]

作者: liuweikkk 时间: 2007-7-8 13:06
标题: 给joy111的《W.d. Gann Master Commodities Course(pdf)》
joy111想要的书籍，从网上搜到的《W.d. Gann Master Commodities Course(pdf)》希望对你有所帮助。
共九个文件

作者: weigechac 时间: 2007-7-8 13:44
好东西,谢谢分享.

有中文的吗?

作者: liuweikkk 时间: 2007-7-8 14:35
没有搜到中文的。

作者: weigechac 时间: 2007-7-8 14:49
PDF要转换成WORD,再用翻译软件进行翻译

挺麻烦的

作者: yay 时间: 2007-7-8 18:24
应当说到目前为止最完整的GANN原著!
感谢原始提供者!

作者: afafaf 时间: 2007-7-8 21:52
收藏了, 谢谢 liuweikkk !!!

[ 本帖最后由 afafaf 于 2007-7-8 21:54 编辑 ]

作者: joy111 时间: 2007-7-8 21:53

原帖由 yay 于 2007-7-8 18:24 发表
+ G4 h2 o* g! g+ j$ @" [应当说到目前为止最完整的GANN原著!
* V' Z/ |$ Q6 W; ~8 D感谢原始提供者!

不甚感谢！！

作者: mzyma1355 时间: 2007-7-8 22:13
标题: 回复 #1 liuweikkk 的帖子;回复 #2 的帖子
liuweikkk——有您的热诚、辛勤工作“江恩理论交流 ”栏目会更加精彩！！！
weigechac：难得的原著，耐心地看下去——精读原著，感受会更加深刻！

作者: liuweikkk 时间: 2007-7-8 22:25

原帖由 mzyma1355 于 2007-7-8 22:13 发表
j* l4 _ C$ C4 t6 i% x/ Aliuweikkk——有您的热诚、辛勤工作“江恩理论交流 ”栏目会更加精彩！！！0 w+ F( A' E9 I2 g

心中将记挂55兄鼓励。

作者: joy111 时间: 2007-7-8 22:28
初初看了一下，感觉真棒，
再次感谢liuweikkk 给大家带来的好书！！！

接下来，得好好学习了，先寻找一下翻译软件

作者: weigechac 时间: 2007-7-10 03:35

原帖由 mzyma1355 于 2007-7-8 22:13 发表 7 ~3 c% O# _2 _1 x) C' P- [# s
liuweikkk——有您的热诚、辛勤工作“江恩理论交流 ”栏目会更加精彩！！！& X" F, `4 P+ n E4 u
weigechac：难得的原著，耐心地看下去——精读原著，感受会更加深刻！

作者: fp557 时间: 2007-7-10 23:48
好心人啊
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

作者: yay 时间: 2007-7-11 08:53
新入行的FANS最幸福啦!
当初研究时收集到的只是片断, 刚得到此书时,基本不分昼夜,呵呵,真有欲罢不能感觉!

作者: 跳跳雨 时间: 2007-7-11 10:55

原帖由 yay 于 2007-7-11 08:53 发表 ! h& |; \, b) v/ e" q4 ^
新入行的FANS最幸福啦!" {0 w5 p# `5 ?" N
当初研究时收集到的只是片断, 刚得到此书时,基本不分昼夜,呵呵,真有欲罢不能感觉!

同感,那时是专头迷缝地找资料,花钱拜老师,...对对错错绕圈子,真真假假解迷惘...周围有人还笑话

用艰辛也表达不了学习的不易.

作者: weigechac 时间: 2007-7-11 11:22
请教各位

用什么翻译软件比较好?

该PDF有密码保护,无法进行转换.打印

作者: liuweikkk 时间: 2007-7-12 14:52
网上搜得翻译《江恩商品期货教程》第一至第二章的部分，虽然不全，聊胜于无。

江恩商品期货教程

　　目录
　　关于这份高级教程
　　谷物篇
　　第1章：投机是一门有利可图的职业：谷物市场概述
　　第2章：谷物交易的技术方法及其发展趋势指标
　　第3章：2日图的转向
　　第四章A：关于大豆、玉米、小麦、燕麦和黑麦的交易规则（1950年9月）
　　第四章B：关于大豆、玉米、小麦、燕麦和黑麦的交易规则（1950年9月）
　　第五章A：我的预测方法是基于几何学角度(c.1940+)
　　第五章B：我的预测方法是基于几何学角度(1951)
　　第六章：时间与价格的转换
　　第七章：预测谷物的周期循环
　　第八章：大豆的价格阻力等级
　棉花篇
　　第九章：棉花交易的方法和最新发展趋势指标
　　第十章：棉花交易的预测指标
　　鸡蛋篇
　　第十一章：鸡蛋高级教程
　　关于价格计算器的高级内容　
　　第十二章：时间价格和趋势的高级运算法
　　第十三章A：高级运算在五月大豆期货合约上的运用(1953)
　　第十三章B：高级运算在五月大豆期货合约上的运用(1955)
　　第十四章：股票和商品期货中周线时间周期的趋势确定
　　第十五章：五月大豆期货的买卖
　　第十六章：五月大豆的年月日周期与67的平方关系
　　高级图表
　　第十七章A：高级图表
　　第十七章B：六边形图表
　　第十八章：时价从1循环到1089并包含1到33的平方的重要价格和时间图表
　
　　第十九章：15天与24时间价格循环与0 °to 360°的时间价格循环的关系图表
　　其它
　　第二十章：五月咖啡的行星角度
　　第二十一章：补充和读编往来
关于本书

　　这本高级期货教程来源于大量的课堂笔记，但这里面所有的内容并不是全部来源于江恩公开实用的教程。
　　这本教程乃是经一小部分爱好者花费巨大的时间和精力认真搜集，汇编及校对而成。编写这一教程的最大目标是希望这些资料能给那些研究江恩的爱好者以最大的帮助。
　　在这本高级教程中，我们仔细的抄录每部分的内容，以尽量保持江恩原著的真实性，并且已经仔细按正规的格式编好章节和页码。
　　我们的主要工作是复制原文并作一些拼写及语法匹配和修改。但不乏例外：
在明显与前文的重复之处或者出现较为明显错误的地方，我们进行了相应的更正。读者应该注意到那些所有细微的更正皆是为了避免改变原文原有的潜在涵义。(黑水备注：本教程初始来源就相当于手抄本，所以错误及混乱的地方肯定很多。感谢原作者及其同道在这上面下了不少的功夫。)
　　其它地方，在有明显错误的原文旁边加入了更正标记，这样将使得前后文的意思更加的连贯和清晰。所有的标记是放在方括号内的，比如［我喜欢］这样的字句。所以这样提示在文中多处出现，读者能否接受则最终取决于他们自己。文中很多象这样的注解提示皆出于编者自己的理解，但最终能否接纳完全取决于本书的读者。
　　我对那些花费大量时间整理抄写资料的朋友致以最真的感谢，没有您们的帮助本教程绝对难以面世。
　　我真心希望这分教程能对江恩理论的研究者和爱好者有巨大的帮助。
第一章　投机是一门有利可图的职业：谷物市场概述－(江恩期货教程中文版 )－003　　CHAPTER 1
　　SPECULATION A　PROFITABLE PROFESSION:A COURSE OF INSTRUCTIONS ON GRAINS
　　第1章：投机是一门有利可图的职业：谷物市场概述

　　A Course of Instructions With Time Tested Practical Rules of Trading in Grains.

　　行之有效的谷物实用交易规则

　　In 1911 after I had made a great success trading in stocks and commodities, there was a public demand for a book with my rules for trading successfully. This demand was answered by my first small book, “Speculation A Profitable Profession”. As the years went by I learned more about the market and realized that others needed the help that I could give them and I wrote more books to help others who were trying to help themselves.
　　在1911年我在股票和期货交易市场取得了巨大的成功后，公众要求我写一本交易成功的规则的手册。这种要求已经在我的《投机是一门有利可图的职业》书中给予回答。随着时间的推移，我在市场中获得了更多的经验，让我意识到应该写更多的给予那些需要帮助的朋友们。
　　In May 1954 I am nearing my 76th Birthday and am writing this new course of instructions not to make money for I have more income than I can spend but realizing the demand and the need for more knowledge about future trading by so many people I now give the benefit of my 52 years experience to help those who need it. The price of this course is made reasonable in order that men and women with a small account of money can get a market education and start with a small capital and make a success provided they follow the rules after they learn them.
　　写这本新规则教程是在1954年5月正是我快过76岁生日时候，金钱对我已无丝毫意义。我的收入远大于日常消费。因此写本书的目的是将我在期货交易市场上52年的好的经验给予那些在需要更多知识和帮助的人们。假如认真学习了本书的规则后，大家可以开一个小的资金帐户在市场上开始交易并会让你赚钱。
　　My experience has proved that it is more profitable to trade in commodities than stocks and you can make larger profits on the same amount of capital with smaller risk. When you trade in commodities you are trading in the necessities of life.Commodity prices obey the law of supply and demand and follow a seasonal trend most of the time.
　　我的经验证明，商品期货比股票市场能让你更能赢利，，因为你用同样的资金和更小的风险能博取更大的利润。商品期货交易与你平时生活中的交易无多大的区别。商品价格大多数时间服从和跟随季节性的供需规律和状况。
　　When you learn the rules and follow them you eliminate trading on Hope, Fear,and Guesswork which is nothing but gamble and you cannot afford to risk your money gambling. You must follow mathematical rules which I have proved to be realistic guide in trading. You must prove to yourself that the rules have always worked in the past and they will work in the future. When you have the proof follow the rules and you will make speculation a profitable profession.
　　当您学会规则并且遵循这些规则交易时，你必须抛弃你对市场的一厢情愿和恐惧，因为你的赌博和你的臆测将会给你的资金造成极大的风险。您必须遵循我给出的已经被当前市场证明的数学规则。您必须亲自验证这些规则在市场上过去和未来的运用。当您已经验证并且遵循规则进行交易，你将会在这投机市场上获得成功。

[本帖最后由 mzyma1355 于 2008-1-18 17:16 编辑 ]

作者: liuweikkk 时间: 2007-7-12 14:53
-----------------------------2006-7-19 1:26:43第一版

　　who are accustomed to giving orders to others and have them carried out will often when they get into the market, especially for the first time, expect the market to follow their orders or move their way. They must learn that they cannot make the market trend go their way. They must follow the market trend as is indicated by fixed rules and protect their capital and profits by the use of STOP LOSS orders. There is no harm in making a few mistakes and a few small losses because small losses are the expense of a successful speculator. If you intend to make speculation a profitable profession you must learn all the rules and apply all of them to determine the trend. Professional men, such as lawyers, doctors, accountants and engineers spend years in training and a large amount of money to learn how to succeed in their chosen profession. You must spend time and money to learn the profession and become a successful speculator or investor.
　　那些在生活中习惯发号施令并让别人强行执行他们指令的人当进入市场时，尤其是初次进入市场时经常希望市场遵循他们的指令或按照他们的愿望变化。他们必须认识到市场是不可能按照他们的意图运行。他们必须遵从市场规则所显示的趋势并且通过设置止损来保护资金和利益。犯一点错误以及蒙受一点损失是没有害处的，因为少量的损失是一个成功投机者的学费。如果你打算进入投机这个有利可图的领域，你必须学会所有的规则并且应用这些规则去确定趋势。专业人员，就像律师，医生，会计以及工程师花费多年时间和大量金钱去学习怎样在自己选择的职业中获得成功。你必须花费时间和金钱去学此专业从而变成一个成功的投机者或投资人。
A Course of Instructions With Time Tested Practical Rules of Trading in Grains.

　　行之有效的谷物实用交易规则

　　In 1911 after I had made a great success trading in stocks and commodities, there was a public demand for a book with my rules for trading successfully. This demand was answered by my first small book, “Speculation A Profitable Profession”. As the years went by I learned more about the market and realized that others needed the help that I could give them and I wrote more books to help others who were trying to help themselves.
　　在1911年我在股票和期货交易市场取得了巨大的成功后，公众要求我写一本交易成功的规则的手册。这种要求已经在我的《投机是一门有利可图的职业》书中给予回答。随着时间的推移，我在市场中获得了更多的经验，让我意识到应该写更多的给予那些需要帮助的朋友们。
　　In May 1954 I am nearing my 76th Birthday and am writing this new course of instructions not to make money for I have more income than I can spend but realizing the demand and the need for more knowledge about future trading by so many people I now give the benefit of my 52 years experience to help those who need it. The price of this course is made reasonable in order that men and women with a small account of money can get a market education and start with a small capital and make a success provided they follow the rules after they learn them.
　　写这本新规则教程是在1954年5月正是我快过76岁生日时候，金钱对我已无丝毫意义。我的收入远大于日常消费。因此写本书的目的是将我在期货交易市场上52年的好的经验给予那些在需要更多知识和帮助的人们。假如认真学习了本书的规则后，大家可以开一个小的资金帐户在市场上开始交易并会让你赚钱。
　　My experience has proved that it is more profitable to trade in commodities than stocks and you can make larger profits on the same amount of capital with smaller risk. When you trade in commodities you are trading in the necessities of life.Commodity prices obey the law of supply and demand and follow a seasonal trend most of the time.
　　我的经验证明，商品期货比股票市场能让你更能赢利，，因为你用同样的资金和更小的风险能博取更大的利润。商品期货交易与你平时生活中的交易无多大的区别。商品价格大多数时间服从和跟随季节性的供需规律和状况。
　　When you learn the rules and follow them you eliminate trading on Hope, Fear,and Guesswork which is nothing but gamble and you cannot afford to risk your money gambling. You must follow mathematical rules which I have proved to be realistic guide in trading. You must prove to yourself that the rules have always worked in the past and they will work in the future. When you have the proof follow the rules and you will make speculation a profitable profession.
　　当您学会规则并且遵循这些规则交易时，你必须抛弃你对市场的一厢情愿和恐惧，因为你的赌博和你的臆测将会给你的资金造成极大的风险。您必须遵循我给出的已经被当前市场证明的数学规则。您必须亲自验证这些规则在市场上过去和未来的运用。当您已经验证并且遵循规则进行交易，你将会在这投机市场上获得成功。

HOW TO MAKE SPECULATION A PROFITABLE PROFESSION
如何进行有利可图的投机？

Speculation or investment is the best business in the world if you make a business of it. But in order to make a success of it you must study and be prepared and not guess, follow inside information, or depend on hope or fear. If you do you will
fail. Your success depends on knowing the right kind of rules and following them.

如果你想做生意，投机或者投资是这个世界上最好的买卖！但是在操作之前你必须认真学习和作好准备。任何猜测、跟随内部消息、希望和恐惧都将导致你失败。你只有通过依靠正确的方法方可成功。

[ 本帖最后由跳跳雨于 2007-7-12 15:08 编辑 ]

作者: liuweikkk 时间: 2007-7-12 14:53
FUNDAMENTAL RULES

　　基本规则

　　Keep this well in mind. For commodities to show up trend and continue to advance they must make higher bottoms and higher tops. When the trend is down they must make lower tops and lower bottoms and continue on down to lower levels. But remember prices can move in a narrower trading range for weeks or months or even years and not make a new high or a new low. But after a long period of time when commodities break into new lows they indicate lower prices and after a long period of time when they advance above old highs or old tops they are in a stronger position and indicate higher prices. This is the reason why you must have a chart long ways back in order to see just what position a commodity is in and at what stage it is between extreme high and extreme low.

　　将这些规则熟记在心。当市场趋势向上时，其将走出更高的底部和更高的顶部。反之，将向下走出更低的顶部和底部。除此之外，价格可能会持续数周、数月甚至数年的区间盘整。但是当经过长时间的震荡后，价格突破前期低点，将预示着会产生新低，同理，当突破前期历史顶部后，将会创历史新高。这就是你需要拥有包含所有历史高低点的完整的市场数据图表的原因。

　　THE KIND OF CHARTS TO KEEP UP

　　图表的预测功能

　　Remember the old Chinese proverb “One good picture is worth 10,000 words”.You should make up charts and study the picture of a commodity before you make a trade. You should have a weekly high and low chart, a monthly high and low chart and a yearly high and low chart. A yearly high and low chart should run back 5, 10 or 20 years if you can get records that far. Monthly high and low chart should go back for at least 10 years and the weekly high and low should go back for 2 or 3 years. When commodities are very active you should have a daily high and low chart. This need not go back more than a few months. Start the daily chart after the commodity breaks into great activity.

　　中国有句谚语：一图抵万言。因此在你确定交易前应该整理和研究各品种图表。你平时应该准备好包含有年、月、周高低点的周期图表。你最好能收集到能记录有过去5年、10年或20年的年线和至少10年的月线及2－3年的周线的历史高低点数据图表。当行情开始变得活跃时，可以不回顾前几个月的数据，这时你需要收集每天的高低点图表。当行情发生巨大突破后，开始记录每天的图表。
东张西望：

中国有句古话:一图抵万言.因此在你确定交易前应该整理和研究各品种图表。你应该搜集包含有年、月、周高低点的周期图表。采集年的高低点的时候,你应该回顾5,10,20年的信息,如果你能得到更远的数据.采集月的高低点,你应该回顾至少10年的信息,而周的高低点你至少采集2,3年信息.当行情活跃，你需要采集每天的高低点图表的时候你需要回顾几个月的信息.当行情发生巨大突破后，开始记录每天的图表。

年的高低点:5,10,20年甚至更远的信息
月的高低点:10年的信息
周的高低点:2~3年的信息
日的高低点:几个月的信息

FOLLOW THE MAIN TREND

　　顺应主要趋势

　　You will always make money by following the main trend of commodities up or down. Remember that commodities are never too high to buy as long as the trend is up and they are never too low to sell as long as the trend is down. Never sell short just because the commodity is high or because you think it is too high. Never sell out and take profits just because the price is high. Buy and sell according to definite rules and not on hope, fear or guesswork. Never buy a commodity just because the commodity is low. There is usually a good reason why it is low and it can go lower.

　　顺序大势操作你会在期货市场中不断获利。记住：只要趋势向上，不要因为太高而不敢买，相反，只要趋势向下，也不要太低而不敢卖。绝对不要因为价格太高而做短期卖出或者你认为它已经涨太高了。不能因为价格太高而先卖出获利。买卖是依照明确的规则来操作而不是你对市场的期望、恐惧或臆测。同时也不能因为价格太低而买进。有充足的理由证明市场为什么会不断创出新低。

　　RULES FOR BUYING AND SELLING

　　买卖规则

　　The first thing to remember before you start to apply any rules is that you must always use a STOP-LOSS order to protect your capital. When making a trade remember that you can be wrong or that the market may change its trend and the STOP-LOSS order will protect you and limit your loss. A small loss or several small losses can easily be made back with one large profit, but when you let large losses run against you it is hard to make them back.

　　在接受这些规则前你首先记住必须永远要下“止损单”来保护资金的安全。因为你可以会在交易中犯错或者市场趋势改变时，所以在交易中要用“止损单”来保护和减小你的损失。一次大的赢利抵得过一次或者几次小的损失，反之一次大的损失再想打回来时则困难得多了。

[ 本帖最后由跳跳雨于 2007-7-12 15:05 编辑 ]

作者: liuweikkk 时间: 2007-7-12 14:54
坚持正确的方法

　　The Bible tells us this and it is well worth remembering. Many people believe that it is wrong to buy at new high levels or to sell at new low levels but it is most profitable and you must prove this to yourself because when you do buy at new high levels or sell at new low levels you are going with the trend of the market and your chances for making profits are much better than guesswork or buying or selling on hope or fear.

　　牢记《圣经》说这句话的深意。由于你坚持了正确的方法，即在常人眼中认为是错误的时候，坚决跟随市场趋势在创出新高后买进或在新低后卖出，由此获得了巨大利润，证明你获利机会比一味臆测、希望和恐惧多得多。（注：本段翻译非常不恰当，但是意思是正确的。）

　　PROLONGED ADVANCES

　　持久上涨的行情

　　After commodities have had a prolonged advance and wind up with a fast, active, runaway market in most cases they come down very quickly and much faster or in a shorter period of time than when they go up. That is why you must keep up some daily charts at the end of a fast move and keep up the weekly charts to determine the first change in trend and be able to go with it.

　　多数实践证明市场在结束一轮长期持久而活跃的上涨行情后将马上有一轮快速下跌或者短期内有一次比它上涨速度更快的下跌，这就是为什么前面让你必然收集活跃行情的周、日线图表的原因，这样你才能在第一时间确定并跟随趋势的变化。

10-2-2006 11:18 shy
SHARP DECLINE IN A SHORT PERIOD OF TIME
　　短期暴跌
　　This usually follows a rapid advance and the first sharp declines which may last from one month to as much as seven weeks usually corrects an over bought position and leaves the market in position for a secondary advance.When you are able to catch the extremes at the end of any great time cycle you can make a large amount of money in one year’s time trading in fast active markets, and some very large profits in one month’s time. It makes no difference whether you catch the extreme low or the extreme high – the opportunities are great for making money providing you select the commodity that will lead.
　　通常在一个持续一月到七周时间的过分的上涨后，短期就会出现首次快速下跌的超买行为来调整，为中级上涨作好准备。在这个快速而活跃的市场中，当你能在一个大周期循环结束后抓住这个拐点，那么你可以在每年和每月中获得巨大的利润。只要选择商品这个存在无数机会的大宗期货市场作为你的主要投资方式，其赢利模式与你是否抓住关键顶与底是无关的。

　　LARGE PROFITS ON SMALL RISKS
　　以小风险换取大利润
　　You can make large profits on small risks provided you use a STOP LOSS order, and apply all the rules and wait for a definite indication of a change in trend up or down before you make a trade.
　　假如你在做交易前应用所有的规则，在上涨或下跌趋势改变中等待明确的进场机会，并用“止损单”进行保护，那么你将会用较小的风险获得巨大的利润。

10-2-2006 11:19 shy
HOW TO PROTECT PROFITS

　　保护你的盈利

　　After you have accumulated profits it is just as important to protect them with STOP-LOSS orders as it is to protect your original capital because once you have made profits it is your capital and STOP LOSS orders must be used to protect it.The most dangerous thing that you can do is to let a trade start going against you and lose back your profits. A STOP-LOSS order will protect the profits and you can always get in again when you are out, with capital. Remember when you are out of the market the only thing you can lose or miss is an opportunity.My 52 years of experience has taught me that thousands of people have gone broke trying to hold on until the trend turned. Avoid getting out of the market too soon after move starts when you have a small profit. This can be a great mistake. Get out of the market quickly as soon as you see that you have made a mistake. If you place a STOP LOSS order this will put you out of the market automatically.

　　必须要象保护本金一样用“止损单”保护你的既得赢利。因为你一旦获利，这些利润已经变成你的资本，所以必须要有止损意识。最危险的事是你后面开始逆势交易进而造成利润回吐。当你止损出场依然有本金让你有机会再次进场，因为“止损单”能始终保护你的利润。记住，当您在市场外面您唯一的损失只是失去或错过机会。我的52年经验告诉我很多人由于在市场已经发生转势时依然不清仓而导致破产。同时由于赚了些小钱不敢继续持有而太早离开市场却是犯了大错。当然在你发现已经犯错时要马上设定“止损单”自动离场。

　　FIXED IDEAS AND FIXED PRICES
　　不要固执已见
　　Never get a fixed idea of just how high any price is going to go or just how low they are going. Never buy or sell on a price that you fix because you may be trading on hope or fear and not following the trend of the market and applying rules which will determine when the trend is changing.
　　决不因为价格上升多高或者下跌多低都而固执已见。当市场趋势改变时，你要应用所有的规则顺应市场，决不在你期望和恐惧的价位进行买卖交易。

　　TOO LATE OR TOO SOON
　　不要错过机会
　　You can lose money or miss opportunity by getting into the market too soon or getting out too late. That is not waiting until a definite change in trend is indicated, or failing to act in time when you see a definite change in trend. Wait until you have a well defined indication that the trend is changed, then buy or sell. Follow all the rules in my book “How to Make Profits on Commodities”. There are many rules in my book “How to Make Profits Trading in Commodities”which are not in this course of instruction and by using all the rules you will make a greater success.
　　进场太快或出场太慢将导致你亏损或者错过不少机会。当你看到市场发出了明确的信号或在一定时间内趋势如果未发生明显变化时不要再错过。一直等到有明确的信号出现时才进行买卖。遵循我的《如何在商品市场中获利》一书中的所有规则，其中的有不少规则是我的另外一本《如何在商品期货交易中获利》这本教程所没有的，结合所有的规则你将会赚取更多的利润。

[本帖最后由 mzyma1355 于 2008-1-18 17:05 编辑 ]

作者: liuweikkk 时间: 2007-7-12 14:56
HOPE AND FEAR
　　期望和恐惧

　　I repeat this because I have seen so many people go broke trading on hope or fear. You will never succeed buying or selling when you hope the market is going up or down. You will never succeed by making a trade because you fear the market is going up or down. Hope will ruin you, because it is nothing more than wishful thinking and provides no basis for action. Fear will often save you if you act quickly when you see that you are wrong. “The fear of the market is the beginning of wisdom”. Knowledge which you can only obtain by deep study will help you make a success. The more you study past records the surer you are to be able to detect the trend of the future.
　　我之所以反复声明这些规则是因为我看到不少人在期望与恐惧交易而破产。当你期望市场按你的意愿上涨或者下跌时决不会成功的。同时当你对市场怀有恐惧心理而去交易时也不会成功。对市场异想天开和毫无依据的期望，最终将会毁灭你。“对市场的敬畏是智慧起点”，经常对市场经常怀有敬畏之心那么你在犯错时却能及时挽救你。通过深入研究市场之道将帮助你获得成功。不断研究市场过去的走势能帮你确定市场未来的趋势。

　　MAKE THE MARKET MOVE YOUR WAY
　　永远不要一劳永逸
　　You must learn to realize that you cannot make the market go your way, you must go the market’s way and must follow the trend. Many successful business men who are accustomed to giving orders to others and have them carried out will often when they get into the market, especially for the first time, expect the market to follow their orders or move their way. They must learn that they cannot make the market trend go their way. They must follow the market trend as is indicated by fixed rules and protect their capital and profits by the use of STOP LOSS orders. There is no harm in making a few mistakes and a few small losses because small losses are the expense of a successful speculator. If you intend to make speculation a profitable profession you must learn all the rules and apply all of them to determine the trend. Professional men, such as lawyers, doctors, accountants and engineers spend years in training and a large amount of money to learn how to succeed in their chosen profession. You must spend time and money to learn the profession and become a successful speculator or investor.
　　你要明白你不能左右市场，所以你必须不断学习来顺应市场，跟随趋势。当那些在传统行业习惯于发号施令并让别人执行其指令的成功人士进入市场时，尤其是初次进入市场时经常希望市场遵循他们的指令或按照他们的意愿变化。他们必须认识到市场是不可能按照他们的意图运行的。他们必须遵从既定规则所显示的市场趋势并且通过设置“止损单”来保护资金和利润。犯一点错误以及蒙受一点损失是没有害处的，因为少量的损失是一个成功投机者的学费。如果你打算进入投机这门有利可图的事业中你就要必须学会所有的规则并且应用这些规则去确定趋势。像律师、医生、会计以及工程师这样的专业人员都要花费多年时间和大量金钱去学习怎样在自己选择的职业中获得成功。所以你也必须花费时间和金钱去学此专业从而变成一个成功的投机者或投资人

10-2-2006 11:20 shy
HOWTO MAKE THE MOST MONEY IN THE SHORTEST PERIOD OF TIME
　　如何在最短的时间赚到大钱？

　　Most people want to get rich too quick, that is why they lose their money. They start speculating or investing without first preparing themselves or getting a Commodity education. They do not have the knowledge to start with and the result is they make serious mistakes which cost them money. When you do have knowledge and are prepared you can make the most money in the shortest period of time. You must learn to follow the rules which I have laid down and proved to you by examples that you can make a large amount of money in a short period of time when the market is at the right stage for fast advances and fast declines occur.
　　多数人希望快速致富，这就是他们亏损的原因。他们在没有做好初步准备或者没有经过交易培训的情况下开始投机或投资。他们没有进行交易所需要的知识，其结果就是造成严重的亏损，如果你拥有了知识并且做好了准备，你可以在最短的时间内赚到大钱。你必须学会遵从我制定并且已经被很多事实证明过的规则，这样你身处当前快速上升或快速下降的市场中，短时间内便能赚到大钱。

　　Do not try to lead the market or make the market. Follow the trend which is made by big men who make big money and you will make money. Buy when the big market makers are ready for prices to move up fast, sell when they are ready for prices to move down fast and you will make large profits in a short period of time. Trade only when the market shows a definite trend and trade according to definite rules.
　　自己不要试图主导市场或操控市场。遵从由市场主力操控的市场趋势，那些人获得赚到大钱后且你也将随之获利。当市场大庄家已经准备好了在价格上快速拉升时买入，在快速打压时卖出，这样你就会在短期内获得很大的利润。只有当市场显示一个明确的趋势时进行交易，并且根据明确的规则进行交易。

　　Study the chart on Soy Beans for 1953 and 1954 and the examples which I have given and you cannot fail to make profits provided you use STOP LOSS orders as advised.
　　认真研究1953年以及1954年的大豆的图表和我给你们的例子，像我曾经建议的那样设置“止损单”，你在市场不赚钱都不行。

[本帖最后由 mzyma1355 于 2008-1-18 17:06 编辑 ]

作者: liuweikkk 时间: 2007-7-12 14:56
From March 8, 1954 to April 27, 1954 May Soy Beans advanced from 343½ to 422, a gain of 78½¢ per bushel in 50 calendar days and 35 actual market days. This would give a profit of $7,800 on 10,000 bushels and you were buying after the price was up $1.05 per bushel from the low in August 1953 which proves that you can buy at new highs in the last stage of a bull market and make large profits in a short period of time. This is without guessing but following rules and buying when the big people buy and of course you are with the trend made by the big traders.

　　从1954年3月8日到1954年5月27日，大豆期货从343½美分涨到了422美分，在50个自然日合35个交易日内就有78½美分/蒲式耳的利润，这样10000蒲式耳将获得7800美元的收益。假设你在1953年8月从最低点开始上涨的1.05美元/蒲式耳处开始买进大豆，在经过证明的牛市后期你可以在新的高位买进并且在一个短时间内获得较大利润。这就是不要臆测但是要遵从规则，当主力买的时候买，当然你也要在顺应庄家趋势的前提下。
　　Refer to the trading examples on May Rye and you will see how large profits could be made in a short period of time by selling short after prices were down to comparatively low levels against the extreme high levels.
　　参考我在5月黑麦上的交易例子，你就会看到为什么在这轮从一个相对高点急跌到一个相对低点的短线操作中短期内获得大量利润

10-2-2006 11:21 shy
WHY PEOPLE DO NOT MAKE MONEY BUYING AND SELLING COMMODITIES
　　为什么大多数人在市场中赚不了钱？
　　I have stated in my books many times the market does not beat you, it is your own human weakness that causes you to defeat yourself. The average man or woman nearly always wants to buy low and sell high. The farmer wants to sell at high prices whatever he produces but he wants to buy what he needs at low prices. The labouring man wants high wages all the time but wants low prices for what he buys to eat or wear. This is a violation of a fundamental economic law and it just will not work. To make a success in speculation you cannot expect to buy low and sell high. You will make money when you do exactly the opposite of what the average man or woman wants to do or tries to do and makes a failure and loses as a result of what they are trying to do.
　　我在书中已经陈述了在大多数时间内由于人性的弱点而不是市场的过错导致你的损失。一般人通常都想买在最低卖在最高。农民却在想他种的农产品要卖个高价而低价购买他所需要的东西。工人一辈子都想高工资低消费。这些都违背了基本经济规律原理。要想投机成功，你不能时时想期货买在最低卖高。当你与那么自认为做对市场而造成失败和损失的人相反操作正确时，你才会赚钱。
　　You will make profits when you learn to BUY HIGH AND SELL LOW. You must learn to follow the trend of prices and realize that they are NEVER too HIGH TO BUY as LONG as the TREND is UP and NEVER TOO LOW TO SELL AS LONG AS THE TREND IS DOWN.
　　当你学习了买高卖低这一部分内容后你会获利。你必须要学会跟随价格的趋势，只要趋势向上就不要担心价格太高而不敢买，同时只要趋势向下时也不要担心价格太低而不敢卖。

　－－东张西望修正了这段不正确的部分。

　　ONE GRAIN GOES UP WHILE ANOTHER GOES DOWN AT THE SAME TIME
　　同一时间一种农产品上涨而另一品种却下跌

　　May Beans and May Rye 1953 - 54
　　1953 - 54的5月大豆期货与5月黑麦期货
　　Example: May 7, 1946 May Rye sold at 286.5, the highest price in history. Many people remember this high price and buy all the way down instead of selling. Why do they buy? Because after May Rye sold at 286.5 it looked cheap at $2.00 and they buy it; at 150 it looks still cheaper and they buy it but the trend is down and it goes lower. At 125 it looks still cheaper but it goes lower because the MAIN TREND IS DOWN and the supply exceeds the demand or the selling is better than the buying.
1946年5月7日，5月黑麦涨到历史最高286.5点。许多人记得这个高价并随跌势一路买下来而不是卖。为什么他们要买？5月黑麦相对2美元的价格是比较便宜的，所以他们就买了。在150美分时看起来依然便宜，所以他们就一直买，但是这时趋势已经开始向下了并且价格持续走低。由于供求大于需求或者卖价高于买价而使得大势向下，跌到125美分更加低的位置。

[ 本帖最后由跳跳雨于 2007-7-12 15:10 编辑 ]

作者: liuweikkk 时间: 2007-7-12 14:57
May Soy Beans 1948 high 436-3/4. The price had moved up from 334 in October 1947, and after the trend turned down in less than one month’s time, May Beans sold at 320? and three months later advanced to 425. These wide fluctuations were the result of buying and selling. Too many people got bullish too late and bought too late and later became pessimistic when prices were down $1 per bushel. They then sold and prices went up again.

五月大豆期货从1947年10月的334美分涨到1948年的436.75美分，然后趋势开始反转向下走低，在短短不到一个月的时间里，五月黄豆跌到320点。然后，三个月后价格又攀升至425。这样大幅度的波动是买卖的结果。太多人因为太晚发现牛市而买晚了，以至于价格下跌1美元/蒲式耳，他们就感到后悔莫及。于是他们又开始卖出，而价格又开始回升。

　　started up traders decided prices were TOO HIGH and at 270 they SOLD SHORT. The WISE MAN who KNEW the TREND was up, BOUGHT. When May Beans reached the previous old high of 311? in December 1953, which was the high of April 1953, the public decided that prices were too high because in four month’s time, or since August, prices went up over 70￠ per bushel so they sold out anything that they had bought and sold short, hoping to buy lower.

1953年8月20日，五月黄豆期货低达239美分。1953年4月卖出价格为309美分。当五月黄豆突然拉升到达270美分的时候，期民都认为价格已经很高了而决定卖空。而聪明的人知道现在趋势向上，他们选择买入。1953年12月当五月黄豆攀升至1953年四月的那个历史311美分高点时，大部分人认为价格已经足够高了，因为从8月到现在的四个月以来，黄豆上涨70点/每蒲式耳，于是他们开始满仓卖空，等待低点买入。

　　Dec. 17, 1953 May Beans declined to 295-3/4 and made bottom, then advanced to 310 around the high of December 1953. The public decided prices were TOO HIGH and SOLD SHORT while the WISE TRADERS BOUGHT AT NEW HIGHS following MY RULES and continued to BUY AT NEW HIGHS because the TREND WAS UP.

　　1953年12月17日五月黄豆跌至295.75并形成底部，然后又上扬到310，在1953年12月的顶部盘整。大部分人认为价格到顶而卖空，少数聪明人按照我的法则买入，因为趋势一直是向上的。

　　1954 April 27th May Beans sold at 422, an advance of $1.82 per bushel in eight months and seven days. The greatest advance in history and the greatest range in any option.
　　1954年4月27日五月黄豆卖出价格为422，在8个月零7天的日子里，每蒲式耳上涨了1.82美元。这是有史以来最大的涨幅，也是最大的振荡。

10-4-2006 06:54 shy
Not only the small traders but men who had millions of dollars bucked the trend and sold Soy Beans all the way up until May Beans crossed $4 per bushel, then they all got panicky and bought to cover shorts and take losses and many became so bullish that they bought hoping prices would advance to $5 per bushel. There was talk of a corner and a squeeze and a shortage of supply. The talk scared people into buying.
在五月黄豆突破4美元/蒲式耳的迅速上扬趋势中，许多散户，甚至拥有百万投资的大户纷纷抛出手中的期货，而后他们又惊惶失措不计损失的反手买回他们卖空出去的期货，并期望价格上扬到5美元/蒲式耳，而从中获得利润。有种舆论说供给短缺，这种舆论使人们陷入了惊惶失措的购买狂潮中。
　　April 26th May and July closed at the limit, up 10￠ per bushel in one day.This news was in the newspapers, that the market has closed at the limit with nothing offered. People who were Bears and selling short when prices were 50￠ to75￠ per bushel lower, bought on fear hoping for higher prices.
4月26日收市时，五月和七月合约触及涨停板，每蒲式耳上扬了10美分。报纸报道，期货市场触及涨停板，没有任何交易单。愚蠢的以及卖空的交易者在每蒲式耳下降了50～70美分的时候开始胆战心惊的买入，期望价格会升高。
　　This meant that the shorts had lost hope and that hope had turned into despair and that they were covering shorts or buying. May Beans sold at 422 on April 27th but closed at 411, lower than they closed on April 26th when there were no beans offered. July Beans sold at 415 on April 27th and closed at 405, lower by 4￠ per bushel than the night before when none was offered for sale. THE PICTURE HAD CHANGED OVER NIGHT. THE WISE BUYERS who had BOUGHT all the way up from 240 became sellers; they had been BUYING AT NEW HIGH LEVELS,now they SOLD AT NEW LOW LEVELS, reversing their position and selling at new low levels.
这一现象说明卖空者失去希望，希望变成了绝望以至于他们跟进空仓或者买入。4月27日，五月黄豆422开盘，411收盘，比26日没有交易单收盘时价格还低。同日，七月黄豆415开盘，405收盘，比昨日没有交易单收盘时候低了4美分。经过一夜图像翻转。从240上扬就买入的聪明的买家现在变成了卖家，他们已经在上扬的趋势中获利，现在他们准备在下跌的中赚钱，开始在新的价格反手卖出期货。

[本帖最后由 mzyma1355 于 2008-1-18 17:06 编辑 ]

作者: liuweikkk 时间: 2007-7-12 14:57
Prices rallied to April 30 but failed to reach highs of April 27th. On May 3rd the real selling started and prices declined the limit of 10￠ per bushel. May closing at 400-5/8 July closing at 398-1/8, down the limit of 10￠ for one day. Why did prices go down like this? Because the wise traders, when prices broke the low of April 20,SOLD AT NEW LOWS AND they will continue to sell as prices continue to go lower, while the man who WANTS TO BUY LOW and SELL HIGH will BUY all the way down and LOSE. When Beans sell at 350, 250 and eventually below $2 they will look like great bargains and the bargain hunters will remember 422 and 415 highs on April 27, 1954 and will BUY because they HOPE that PRICES will go up to HIGH LEVELS again. And the result can be but one thing, they will lose their money, while the man who follows the TREND will SELL SHORT all the way down and SELL AT NEW LOW LEVELS and make a fortune.
（黄豆期货）价格在4月30日回稳，但是没有到达4月27日的高点。在5月3日，真正的卖方市场出现了，价格下跌了10美分/蒲式耳，触及跌停板。五月合约以400.625收盘，七月合约以398.125收盘，一天跌了10美分，触及跌停。为何价格会如此下跌？这是因为聪明的投资者在4月20日价格突破新低的时候，开始卖出货物，并且他们将在价格一路走低的时候卖出货物，而此时那些期望低买高卖的投资者将在一路走跌的情况下买入以至于迷失方向（损失）。当黄豆跌至350美分，250美分甚至在2美元以下时，他们看上去就像廉价的货物，这时候那些投机商将想起1954年4月27日的422和415高点，进而买入，期望价格可以攀升到从前的水平。或许会出现那样的结果，但是有一点是可以肯定的：那就是他们损失了大量的资金，而那些跟着趋势卖空的人在整个熊市的情况下卖空自己的货物而获得丰厚的利润。
　　The way to make profits is to go the market's way. Do not try to make the market go your way. Apply all the rules in my book, HOW TO MAKE PROFITS TRADING IN COMMODITIES, follow the MAIN TREND and SELL REGARDLESS of HOW LOW prices go as long as the trend is down and continue to BUY AT NEW HIGHS AS LONG as the prices go up. In this way you will make SPECULATION A PROFITABLE PROFESSION and will have profits instead of losses.
获得利润的方法就是顺应市场，而不是企盼市场顺应你。应用我的《如何在谷物市场中获利》一书中所有的法则，跟随市场的主要趋势，在趋势向下的时候无论价格多低都要卖出，在趋势向上的时候无论价格多高都要继续买入。这样你才能把投机做成一个有利可图的职业，你才能获利而非赔本。

10-4-2006 06:54 shy
RULES FOR TRADING IN COMMODITIES
　　商品期货交易规则
　　RULE 1. Buy at new high prices or old top levels.
　　规则一：在新高位或者历史顶部买入。
　　RULE 2. Buy when prices advance above old low price levels.
　　规则二：当价格上升到历史的低点价位上面时买入。
　　RULE 3. Sell when prices decline below old top levels or high prices.
　　规则三：当价格下降到历史顶部或高位以下时卖出。
　　RULE 4. Sell at new low price levels. As a general rule it is safer to wait until prices advance at least 2¢ above high levels and still more important to wait untilthey close above these levels before buying and at the same time it is safer to wait until prices decline 1/2¢ below old levels and still safer to wait until they close below these old levels before making a trade.
　　规则四：在价格创新低时卖出。作为一个一般规则，应该等到直到价格上升到最少高于前期　的高点的2分才比较安全的，更重要的是在买入之前要等收盘价格超过前期价格。同样的，等待价格下跌到低于前期价位0.5分以下才算比较安全，并且在做交易之前等待收盘价格低于前期价格才算更安全。(这里的2¢是指20%或者其它比例？）
　　RULE 5. Closing Prices. Wait to buy or sell until prices close above old highs or below old lows on the daily or weekly charts when markets are very active and moving fast; it is important to use the daily high and low chart and the closing price above highs or below lows. Prices may advance rapidly during the day but when it comes to closing time they may run off several cents and close lower than the previous day, and at the same time when there is a sharp decline, prices may go below the low of the previous day but when they close they close near the high levels; therefore, it is the closing price that is always important to keep up on the　daily, weekly or monthly high or low charts. The longer the time period in days,weeks, months or years when prices exceed old highs or break old lows, the greater the importance of the change in trend and the move up or down. Remember the general rule, when prices advance to new high levels they generally react back to the old tops, which is a safe place to buy and when they decline below old lows, as　a rule they rally back to the old lows, which is a safe place to sell. Always, ofcourse, protect with STOP LOSS orders.
　　规则五：收盘价。当市场处于非常活跃并且快速变化的阶段时，等收盘价在日、周线图表上显示高于前期高位或低于前期低位时才进行买卖。利用日高低表并且收盘价高于原来的高位或低于原来的低位这时就显得非常重要了。在当天价格可能快速的拉升，但是在临近收盘时间那些价格可能会下行几美分，然后比上一交易日更低的价格收盘。同时如果有一个急剧的下挫，价格可能会走到前一天低位的下面，但是却收在上一交易日高点附近。因此收盘价格是非常重要的。在日、周、月、年表中价格超过历史的高点或突破历低点的时间越长，趋势将会向下或向上发生巨大变化。记住这条规则，当价格上升到一个新高位时，通常要回调到前期历史高点，这是一个安全买点；当跌破历史低点时，通常要反弹到前期历史低点，这是一个安全卖点。同时要用“止损单”进行保护。
　　RULE 6. STOP LOSS ORDERS. Your capital and your profits must be protected at all times with STOP LOSS orders which must be placed when you make the trade and not later.
　　规则六：设立止损点。当你进行交易时，无论何时都必须要用“止损单”随时保护你的资金及利润。

[本帖最后由 mzyma1355 于 2008-1-18 17:06 编辑 ]

作者: liuweikkk 时间: 2007-7-12 14:59
RULE 7. AMOUNT OF CAPITAL REQUIRED. It is very important to know exactly how much of your capital that you can risk on any one trade and never lose all your capital. When you make a trade you should never risk more than 10% ofthe capital you have to trade with, and if you have one or two losses, reduce your units of trading.
　　规则七：必要的资金。首先确定你在任何一个交易上能够承受多大的风险，并且永远不要亏损你的本金显得非常重要。当你进行一个交易时，你所冒的风险永远不能超过本金的10%。如果你已经有一到两次的损失，就要减少交易的量。
　　For trading in Rye and Soy Beans, you should have at least $1500.00 for trading in5000 bushels. Suppose you risk 3¢ a bushel on a trade; you would have to lose 10 consecutive times to wipe out your capital. You could hardly lose it this way just guessing and by following the rules it is impossible to lose all of your capital. Fortrading in Soy Beans, especially at high levels, you should have at least $3000.00 capital for each 5000 bushels that you trade in because it is often necessary to riskas much as 5¢ a bushel on Soy Beans. But the profits are much greater than anything you can trade in.
　　对于黑麦及大豆期货的交易，你应该至少能有1500美元来交易5000蒲式耳。假定在每个交易中你冒3美分/蒲式耳的风险，连续十次这样的损失才会亏损完本金。你猜测，可能会连续亏损，但是遵守规则，损失全部本金则是不可能的。对于大豆的交易，特别是在较高的价位，你应该至少有3000美元交易5000蒲式耳，因为必须要有冒损失5美分/蒲式耳的风险，但是利润却是比交易其它品种大很多。

　　Should you wish to trade in job lots of 1000 bushels, or 2000 bushels, you, of course, can start on a capital of $500.00 and limit losses not more than 3¢ on anytrade and by following the rules, in many cases your risks will not be more than 1¢a bushel. The same rules apply to Wheat, Corn, and Lard.
当然你也可以从500 美元的资金交易1000蒲式耳或者2000蒲式耳，开始小额交易，并遵从规则限定损失不能超过3美分/蒲式耳。在许多情况下，你的风险不能超过1美分/蒲式耳。本规则同样适用于小麦、玉米及猪油品种。

　　Oats move in a narrower range and require about half as much capital as Rye orWheat to trade with.
　　燕麦的行情波动比较小，因此需要黑麦或小麦交易的一半资金就行了。

10-4-2006 06:55 shy
RULE 8. THIS RULE IS FOR BOTH BUYING AND SELLING: When prices decline 50% of the highest selling level, you can buy with a STOP LOSS order of 3￠ below the low prices. Next strongest buying point is 50% between the extreme low and the extreme high. For example, May Rye, the highest price it ever sold was 286? ; 50% of this is 143? and when this level is broken by 3￠ it is in a very weak position. The lowest level May Rye ever sold was 30￠ per bushel; 50% of this 286? and 30￠ is 158?. The highest price that cash Rye ever sold was $3.35; one half of this is 167.5 and we have given an example of what happens when May Rye and other options decline below 167.5 158.25 and 143.5.
　　规则八：此规则适用于买入和卖出。当价格下跌了前期最高点的50%时买入，同时在前期底部下面3美分处设置“止损单”。另一个较强买入点是最高点和最低点之间的50%处。例如：黑麦曾经一个最高价是286.5美分，286.5的50%就是143.5美分，当该价格跌破超过3美分时，它就处于一个非常弱的趋势。黑麦最低跌到过30美分/蒲式耳，286.5分和30分之间的50%就是158.25美分。现货交易的黑麦曾经卖到最高335美分，它的50%就是167.5。我们曾经举过当黑麦或其它农产品跌破了167.5美分、158.25美分、143.5美分时将会出现什么样走势的例子。
　　SELLING LEVEL. When prices advance after being far below the 50% point and reach it for the first time, it is a selling level or place to sell short, protected with a STOP LOSS order of not more than 3￠ above the 50% price level.
　　卖出价位
　　当价格在远低于50%点的价位上升并首次触及该点时，这是一个卖出点或者短期卖出点，同时设置一个不要超过该50%价位3美分止损单。
　　Example: Suppose that May Rye advances to 143?. The first time it reaches this price, if the indications on the daily chart show it is making top, it is a short sale with a stop at 146?. The next point is 158? which is 50% of the range between 30￠ and 286?; this is 158?. When May Rye advances to this point you would watch for resistance and sell short with a STOP LOSS order at 161?. After this point the next selling level is 167? or 50% of 335. Next the range between 30￠ and 335?; 50% of this is 182? which would be the strongest resistance and the most important selling level protected with STOP LOSS order at 185?.
　　例如：假设黑麦期货首次上升触及143.5美分，如果日线图表显示它正做头部，那是个短期卖出价位，止损单下在146.5美分处。下一个点位是158.25美分，即30美分及286.5美分之间的50%价位就是158.25美分，当价格上升到此价位，你应该观察此时的阻力位并短期卖出，在161.5美分设置止损位。此后是下一个卖出价位167.5美分，或者说是335美分的50%。再下一个区间是30美分与335.5美分之间的50%，即182.5美分，该价位将是最强的阻力也是最重要的卖出点，同时在185.5美分设置止损点。
　　When you start trading be sure that you know all of the rules and that you follow them, and be sure that you place a STOP LOSS ORDER.
　　当你开始交易时确定你知道所有的规则并遵循他们，确定你设定一个“止损单”。

[本帖最后由 mzyma1355 于 2008-1-18 17:07 编辑 ]

作者: liuweikkk 时间: 2007-7-12 14:59
在何处设置止损？
　　You must place STOP LOSS orders below the lows of swings and not just belowthe lows on the daily chart. STOPS must be above old tops or below old bottomson a weekly or monthly chart. STOP LOSS orders placed below closing prices on the daily or weekly chart are much safer and less likely to be caught because you are moving your STOPS according to the trend. STOPS placed above closingprices on the daily or weekly chart are caught a smaller number of times than if you place them below a daily bottom or a daily top. The swings or reversals in a market are the prices to place STOP LOSS orders one way or the other. It is of great importance to know where to place a STOP LOSS order properly. Grains selling below $1 a bushel, a STOP LOSS order is as a rule safe and caught less ofthe time when you place it 1¢ below the bottom and especially 1¢ under closingprices, or 1¢ above closing prices. When prices are moving from $1 to $2 per bushel the STOPS should be at least 2¢ above highs or 2¢ below lows or 2¢ above closing prices or 2¢ below closing prices.
　　你一定要在波动的低位价以下设置止损点，但不是只是日线图表中的低位价。必须是在周及月图表中高于前期顶部或者低于前期底部位止损。因为你是根据趋势的变化设置止损位在日或周线图表中低于收盘价的位置，显得更加安全，被套的可能性较小。在日线图表或周线图表高于收盘价位设置止损点将比在低于日线图表底部或高于顶部以下设置止损位被套次数要多一些。市场中的价格波动或行情反转就是因为大众的止损这一情形或者其它情形造成的。知道在哪里能正确地设置一个止损位是非常重要的。售价低于1美元/蒲式耳的谷物，当在你低于底部价1美分特别是低于收盘价1美分或者是高于收盘价1美分时设置止损位是一个安全而减少套牢次数的规则。当价格从1美元/蒲式耳上升到了2美元/蒲式耳时，止损点至少应该在2美分上下或收盘价的2美分上下设置止损。
　　Prices at $2 to $3 per bushel. At this range of prices STOPS should be at least 3¢under the lows or above the highs.
　　价格从2美元升至3美元时，在此区间内至少应该在上下3美分处设置止损。
　　Prices $3 to $4 per bushel. At this range of high levels fluctuations are fast and wide and STOPS, to be safe, must be placed farther away, at least 4¢ to 5¢ perbushel above highs or under the lows. It makes no difference where your STOPS　are placed so long as it is safe and not caught until the time is right when there is a definite change of trend. At the end of high prices, from $3.50 to $4. per bushel　which seldom occurs, STOPS can be placed 1¢ to 2¢ below the daily closing priceor at 1¢ to 2¢ above the daily closing prices. At extreme high prices you must　depend on the daily high and low chart to give you the first indication of a change in trend which later will be confirmed by the weekly high and low chart of price moves.
　　价格从3美元/蒲式耳升至4美元/蒲式耳时，在此高价区间内，价格大幅快速波动，所以为了安全，止损位必须设置的更远一点，要在高低处至少4-5美分/蒲式耳。在一个明确的趋势改变的来临前，只要你的资金安全且不被套牢，在哪里设置止损位都无区别。在高价区的最后阶段，极小情况下从3.5上涨到4美分/蒲式耳时，止损位可以设置在低于日收盘价1到2美分或者高于日收盘价1到2美分的位置。在一个顶部价位时，你必须根据已被周高低图表中价格变化来确认日高低图表是否已经显示了第一个趋势转变的信号。
　　When prices are selling at extreme high levels, follow all the rules in my book,HOW TO MAKE PROFITS TRADING IN COMMODITIES, and if you have taken my Master Forecasting Course, apply the rules on Great Time Cycles as well as the minor time periods.
　　当出售价格在顶部高位时，遵从我的《如何在商品交易中获利》书中的所有规则，并且如果你已经拥有我的《谷物市场高级预测教程》，也可以在最短时间内应用“主要的时间循环”的原则。
　　Remember you can never have too much knowledge. Continue to study and learn more for knowledge can always be turned into profits later.
　　学无止境。继续研究并学习更多的知识今后能给你带来财富。

10-4-2006 06:55 shy
WHAT TO DO BEFORE YOU MAKE A TRADE:

交易前的功课

Check all records of prices,daily, weekly, monthly and yearly and note all time periods. Note when the prices are near some old high levels or near some old low levels of recent weeks or years.Then calculate just what your risk will be before you make the trade and after you make it, place the STOP LOSS order for your protection in case you are wrong.

检查所有价格的记录，包括每年月每周日记录，并且记录所有的时间周期，记下价格接近最近几周或几年内的一些历史高点或一些历史低位的时间。然后计算在你进行交易前和交易后所将承担的风险，在你犯错时设置止损位保护你的资金。

WEEKLY HIGH AND LOW CHART:

The weekly high and low chart is a very important trend indicator. When prices get above a series of weekly highs or lows,or decline below a series of weekly lows, it is of greater importance and indicates a greater change in trend which may last for many weeks.

周高低点图表

周高低点图表是一个非常重要的趋势指示器。当价格连续上涨超过连续数周的高点或低点，或者下连续下跌超过连续数周的低位时，这是一个重要的指示，它预示可能会出现持续许多周的更大趋势改变。

MONTHLY HIGHS AND LOWS:

When prices advance above or decline below　prices which have occurred for many months past it means a greater change in trend which can last for several months.

月度高低图表

当价格上升到超过或下跌到低于那些在过去许多月分中曾出现过的价位时，这就意味着将在未来几个月内将有更大的趋势转变。

[本帖最后由 mzyma1355 于 2008-1-18 17:07 编辑 ]

作者: liuweikkk 时间: 2007-7-12 15:00
YEARLY HIGHS AND LOWS:

When prices advance above or decline below theprices made several years in the past, it is nearly always a sure sign of big moves which will last for a long period of time, or at least have a greater advance ordecline in a short period of time, and when old highs are crossed, or lows broken,always watch for a reaction to come back to around the old highs or slightly lower,and after they are broken, expect the rally to advance back around the old highs or slightly below.

10-4-2006 06:55 shy
年度高低图表

当价格上升到超过或下跌到低于在过去几年中所出现的价位时，几乎毫无例外可以确定这是将持续一个很长时间周期日的可靠信号，或者在一个短期内至少有一个更大的上涨或下跌。当历史高点被突破或者历史底部被击穿时，通常观察返回到历史高点或低点周围时的价格反应，在它们被突破后，预期市场信心将再上升到历史高点以上或者下降到历史底部以下。

Study the yearly highs and lows and you will see the proof. Remember the greater the time period, when it is exceeded, the greater the move up or down.

研究年度高低图表你将发现涨跌的依据。记住，当越长的时间周期被超越时，后市的上涨或下跌空间就越大。

10-4-2006 06:56 shy
We will prove the rules by starting with a capital of $3000, and trading in Rye,based on the rules given above. First, we are going to trade in May Rye and we　must know something about the history of May Rye.

我们将通过3000美元的资金依据上述规则用于黑麦期货的交易并以此来证明这些规则。首先，在我们将做五月黑麦的交易之前先必须知道关于黑麦的一些历史。

1951, July 23 low 169 holding 1.5￠above the 50% price indicated strength and good buying because August 20 was low at 169, making two supports at this time level. We are now buying 10,000 bushels at 169 and place STOP at 165.5 or 2￠below the 50% point.

1951年7月23日，价格跌至169美分，在50%价位以上1.5美分处站稳，指明了多方力量以及不错的买点，因为它们在8月20日的最低价169一线上做了两个支撑。我们现在于169美分买入10000蒲式耳，并且在165.5设置止损点或者在低于50%位2美分处设置止损点。

The market advances. September 20 we buy 10,000 more at 181 because it is　above two tops or high levels. November 1951 we buy 10,000 more at 210because the price is above an old top of 208 of April 3, 1951. 1951, December 10 and 12th high 221.5 and 221, a top against the high at 218. We had bought 10 at 169, 10 at 181 and 10 at 210. We sell all these out at 219 which gives a total profit of 94￠ per bushel or $9,400. We now with draw the capital of $3,000. and start trading on the profits alone.

市场随后开始上涨，9月20日，因为它高过了两个顶部或者高位，所以我们在181美分又买入10000蒲式耳。1951年11月我们在210美分买入10000蒲式耳，因为该价格超过了1951年4月3日的历史顶部。1951年12月10日以及12日出现221.5以及221美分的高位，与218美分的高位发生顶背离。我们已经分别在169美分、181美分、210美分价格处各买入了10手。所以在219美分卖出所有的黑麦并获得94美分/蒲式耳或者说9400美元的总利润。现在我们提出3000美元的本金，仅用赚钱的利润去交易。

1951, December 12; we sell 20,000 bushels at 218 and place a STOP at 223.5.1952, January, we sell 20,000 at 204 and move the STOPS down to 208. February5, 11, and 27th and March 4 the lows are 194, 192.5, 193.5 and 193. We cover the shorts at 195 and buy 40,000 at 195, making a STOP at 190. The profits on thesedeals are $8,200. added to the other profit gives a $17,600. to trade with.

1951年12月12日我们在218美分卖出20000蒲式耳，并且设置止损点为223.5美分。1952年1月在204美分卖出20000蒲式耳，并将止损下移到208美分。2月5日、11日、27日以及3月4日的低位分别为194、192.5、193.5和193美分。我们在195美分短线买入40000蒲式耳，将止损设在190美分。此交易的利润是8200美元，加上上次利润是17600美元。

1952, March high 211, a lower top. We sell $40,000 [bushels.5] at 207 and sellshort 40,000. at 207.

1952年3月反弹高位211美分，是一个更低的顶部。我们在207美分短线卖出40000蒲式耳。

[ 本帖最后由跳跳雨于 2007-7-12 15:07 编辑 ]

作者: liuweikkk 时间: 2007-7-12 15:01
May 1 low 193, same low as March 4; we cover shorts at 194 making a profit of 13￠ per bushel or $5,200. added to $17,6000. gives $22,800. capital. We stop trading in this May option because it will expire on May 20. We could trade inJuly, September or December but we wait for the May Rye for the 1953 delivery to start trading and show a trend and then we start trading again.

5月1日低位193美分，与3月4日的低位相同。我们在194美分作短线赚取13美分/蒲式价值5200美元的利润。加上17600美元共22800美元的资金。因为到5月20日合约即将到期，所以我们停止了交易。当时虽然可以交易7月、9月、11月合约，但是我们等到1953年5月黑麦合约的上市并显示一个趋势，然后我们再次开始交易。

1952, July 23 high 218.5 under the old top of 221.5. It declined to 207 on July 19,August 14 high 219, a second high and slightly below the 1951 high. We sell short 50,000 at 218 and place the STOP at 222.5. The trend moves down. August 18,19th and 29th and September 20 prices are 196.5, 195.5, the same as May 1952.Because we know that the seasonal trend is usually low in the latter part of Augustor early September, we cover all the shorts, 50,000 at 197 and buy 50,000 at 197 for long accounts and place STOP at 194. November 13 high 213-3/4 a lower topthan August 14, but we wait to sell until we get a definite indication. November 24 and 28th lows 204, we raise STOP to 203. This STOP was caught and we sold 50,000 longs at 203 and sold short 50,000 bushels. This gave us a total profit or working capital of $26,3000.00. We sold 50,000 short at 203 and raised the STOPto 209.

1952年7月23日高位218.5美分，低于历史顶部221.5美分。7月19日下跌到207美分，8月14日上升到219美分，是仅低于1951年高点的第二个高点。我们在218美分短线卖出5000蒲式耳并将止损设在222.5美分。趋势向下移动。8月18、19、29日以及9月20日的价格分别是196.5美分、195.5美分，和1952年5月相同。因为我们知道季节性的趋势变化通常使价格在8月的后月以及9月初比较低。我们在197美分买了50000蒲式耳作短线，又在197美分买了50000蒲式耳作长线，并在194美分处设止损。11月13日高位213.75美分比8月14日的顶部更低，但是我们一直等到一个明确指示出现时再卖。我们将止损提高到203美分，在11月24日、28日出现低位204美分，此止损点触及，因此我们在203美分卖出了5000蒲式耳短线和5000蒲式耳长线，我们赚取了共263000美元的周转资金。后面在203美分卖了5000蒲式耳短线，将止损位设在209美分。

December the market broke the price of 195, the old low. We sold 25,000 more at193 and made STOP on 75,000 at 196. 1953 January prices broke the lows of July1952 at 190. We sell 25,000 at 188 making STOP on 100,000 at 193.

12月市场突破了历史低点195美分，我们在193美分又卖出25000蒲式耳，并在196美分设置了75000蒲式耳的止损，1953年1月价格下跌到190美分并突破了1952年7月的低位。我们在188美分卖掉25000蒲式耳，在193美分设置100000蒲式耳的止损。

January 1953 – 12th – low 180. January 15 high 187, reduce STOP on 100,000 to189.5.

1953年1月12日低位180美分，1月18日高位187美分，将100000蒲式耳的止损降到189.5美分。

February 13 low 171.March 3 high 182.5, reduce STOP to 186.

2月13日低位171美分，3月3日高位182.5美分，将止损降至186美分。

Later in March the price broke 171 low. We sell 25,000 more at 166 when the price breaks the low of 169 of July 21, 1927 and it had broke 50% of 335.5 whichis 167-3/4, putting it in a very weak position with the main trend down.

在后来的三月份，价格向下击穿171美分。当价格击穿1927年7月21日的低位169美分时我们又在166美分卖出25000蒲式耳，这时价格已经击穿了335.5美分的50%，也就是167.25美分，随着大势的下降，市场这时处于一个非常微弱的情形中。

10-4-2006 06:57 shy
　May 11 low 154
　　5月11日低点154美分
　　March 3 high 182.5, reduce STOP to 186.
　　3月高点在182.5美分，止损移动到186美分。
　　Later in March the price broke 171 low. We sell 25,000 more at 166 when the price breaks the low of 169 of July 21, 1951 and it has broke 50% of 335.5 which is 167-3/4 putting it in a very weak position with the main trend down.
　　3月后期价格击穿171低点。价格突破1951年7月21日的低点169美分，在跌破335.5的50%即167.75美分时，我们又在166美分卖出25,000蒲式耳，下跌趋势已经非常的虚弱。
　　May 11 low 154. We buy 125,000 at 156 to cover because the May option will expire about May 20 [1953]. We now have a total profit of $69,550. to work with.We can now trade safely on 100,000 bushels which gives 70￠ per bushel marginand a loss of 3￠ on 100,000 bushels would be $3,000. and if we lost for ten consecutive times we would still have more than half or 50% of our capital to trade with, which is perfectly safe.
　　因为5月份的合约即将在5月20日到期，我们在156美分平了125000蒲式耳。我们目前共有资金69550美元来操作，所以现在就可以比较的操作100000蒲式耳了，这将获得70美分/蒲式耳的利润，按亏损3美分计算，100000蒲式耳的损失只是3000美元，假如我们连续10次损失我们将仍然有原来一半以上的资金去交易，这就显得极其安全。
　　We wait for May Rye for 1953 [1954.5] delivery to give an indication of what it is going to do.
　　我们将等1953年5月黑麦的交割后，观察其给我们未来交易给出下步操作指示。
　　1953, July 6. The option opened at 153, a new low. July 7 high 156 when itbreaks 153 we sell 100,000 bushels at 152 and make the STOP 157. It declinesvery fast and we sell 25,000 more at 140 because it is 3.5￠ below the 50% of 286.5 which is 243.5 [143.5.5], the high of May 7, 1946 and we wait until the price is 3￠below this level which puts it in a very weak position before going short.
　　1953年7月6日，该合约以新低价153美分上市。7月7日上涨的高点156美分，当它击穿了153美分时我们在152美分卖出100000蒲式耳，止损位157美分。随后行情暴跌，于是我们又在140美分售出25000蒲式耳，因为它低于286.5美分的50%的3.5美分，该价位143.5也是1946年5月7日的高位。我们等待价格跌至此价位3美分下面，在短期走强之前，此价位使市场处于非常微弱的境地。

[本帖最后由 mzyma1355 于 2008-1-18 17:22 编辑 ]

作者: liuweikkk 时间: 2007-7-12 15:02
1953, July 28 low 133.5, August 6 high 140-3/4 and 140; we make the STOP on125,000 at 145, the decline continues and breaks the low of 133.5. We sell 25,000 more at 131.5 and make STOP at 142.5.
　　1953年7月28日低点133.5美分，8月6日高点140.75美分与140美分；我们将125000蒲式耳的止损点设在145美分，下降持续并且突破了低点133.5美分。我们继续在131.5美分卖出25000蒲式耳，止损位142.5美分。
　　August 13 low 121, August 17 high 135.5, reduce STOP to 137. August 28 andSeptember 15 and September 23 low 116.5, 114-3/4, 115. We know that theseasonal lows are often made in August and September and the trend turns up sowe reduce the STOP to 121 on the shorts. The STOP was caught and we buy150,000 at 121. We now have a capital of $127.500 to work with. We buy100,000 at 121 and make STOP 114.
　　8月13日低点121美分，8月17日高位135.5美分，将止损位降137美分。8月28日以及9月15日9月23日低位美分别为116.5美分、114.75美分、115美分。我们知道季节性低点常常产生在8、9月份，并且趋势也在这里发生转折。因此我们将短期止损点设在121美分。目前共有资金127500美元，于是在121美分买入了100000蒲式耳，止损位114美分。
　　November 2, high 134, November 17 and 30th low 133.5; we make STOP 120.5.December 14 high 133.5, a slightly lower top, we raise STOP to 129. STOP was caught. We sold 100,000 at 129 with 8.5 profit which gives us a working capital of$135,500. We sold short 100,000 bushels at 129 and placed the STOP at 136.
　　December 23 low 120.
　　11月2日高点134美分，12月17日以及30日低点133.5美分，我们在120.5美分设置止损点。12月14日出现比顶部略低一些的133.5美分高点，于是我们将止损位设在129美分。价格触及止损点后，我们在129美分卖出了100000蒲式耳，并且已获利8.5美分，这　时我们共有135500美元的资金。我们在129美分卖掉100000蒲式耳，并将止损点设在136美分。12月23日低位120美分。
　　1954, January 3 and 14th low 120.5 and 121-3/4, higher bottom. We buy 100,000　at 124, profit 5￠ which now gives a capital of $140,500. We buy 100,000 at 124.
　　1954年1月3日和14日低点在比底部价格稍高的120.5和 121.75美分。我们在124美分买入100,000蒲式耳获利5美分后资金变成140,500美元。继续在124美分买入100,000蒲式耳。
　　1954, January 22 - 27th high 128, a lower top. We raise the STOPS to 124. STOPS were caught and we are out even losing only commission.
　　1954年1月3日到27日涨到比前期顶部稍低的128美分。将止损提高到124美分，we are out even losing only commission不知如何翻译。
　　We sold short 100,000 at 124 with STOP 125. March 29 low 101.5, April 2 high110.5, we reduce the STOP to 112.5. April 19 high 108-3/4, we reduce the STOPto 110-3/4. April 30 low 93.5 with the main trend still down and we would remain short with a stop at 104.5 or 3￠ above the low of March 29, 1954. We will assumethat we covered shorts at 96, this would give us a profit of $173,700. in 33 months starting with a capital of $3,000. Suppose we cut this 50%, the profit would still be$86,850. This is proof from the records based on rules that if you do not guess youcan make large profits on small risks.
　　在124美分短线卖出100,000，止损125。3月29低点101.5美分，4月2日高点110.5美分，我们降低止损到112.5美分。4月19日高点108.75美分，止损降到110.75美分。大势一直向下，4月30日低点93.5美分，我们将止损设在104.5美分或3月29的那个低点101.5上面3美分处进行短线操作。假定我们已经在96美分处短买，这将使资金从3000美元的本金在33个月内达到173,700美元。假如我们削减到50%，那么也是86,850美元。这就是你不用猜测，遵守前面的规则以较小的风险而获得巨大利润的证明。

作者: liuweikkk 时间: 2007-7-12 15:02
This also proves that no matter how low the price is you can make big profits byselling short and no matter how high the price is you can make money buying solong as you are going with the trend up or down. The question naturally arises,“Why do not more people make fortunes trading in Commodities”.5 The answer isweakness of the human element. They trade on hope, fear, and think prices are toolow to sell or too high to buy and if they do act they do different from what therules indicate, but remember that there are always some big traders who do buy andsell no matter how low the price is or how high it is, and these are the people whomake big money. The late Jesse Livermore traded this way and accumulated asmuch as $15,000,000. at one time. Men like Dr. Crawford have the nerve to buyand sell at extreme low levels or extreme high levels where the trend is down andto make millions, while the man who fears or trades on hope does not have thenerve and he not only misses big profits but he makes losses. If you expect tosucceed you must learn to follow rules and after you have proved to yourself therules will work, have the nerve to follow them and profits are assured.

　　SOY BEANS – RECORD OF HIGHS AND LOWS.MAY SOY BEANS. Trading in Futures started October 5, 1936 and May SoyBeans opened at that time at 120 and advanced to 164 in January 1937.1938, October low 69; 1937, July 27 low 67. This was the lowest price that MaySoy Beans ever sold.

10-4-2006 06:57 shy
　This also proves that no matter how low the price is you can make big profits by selling short and no matter how high the price is you can make money buying so long as you are going with the trend up or down. The question naturally arises,“Why do not more people make fortunes trading in Commodities”.5 The answer is weakness of the human element. They trade on hope, fear, and think prices are too low to sell or too high to buy and if they do act they do different from what the rules indicate, but remember that there are always some big traders who do buy and sell no matter how low the price is or how high it is, and these are the people who make big money. The late Jesse Livermore traded this way and accumulated as much as $15,000,000. at one time. Men like Dr. Crawford have the nerve to buy and sell at extreme low levels or extreme high levels where the trend is down and to make millions, while the man who fears or trades on hope does not have the nerve and he not only misses big profits but he makes losses. If you expect to succeed you must learn to follow rules and after you have proved to yourself the rules will work, have the nerve to follow them and profits are assured.
　　这就证明了不管价格走多低你都能通过短线获得巨大利润，不管其走多高只要你都跟随涨跌趋势你都赚钱。问题自然出现：为什么大多数人在市场中赚不了钱？答案就是因为人性的弱点。他们在希望、恐惧中交易，都明白价格低时买，价格走高时卖，在实时交易时却不根据规则的指标来操作，但是要明白赚钱的总是市场的主力，他们才不管价格多高或者多低，所以赢利才是这种人。杰西•利莫佛尔曾经在市场中赚钱了差不多15,000,000美元。象克劳佛先生这样有胆量敢在在下跌趋势中进行极端的顶与底买卖而赢利数百万的人太少，当人们在在恐惧与期望里交易时勇气全无，他是不仅仅是错过赚大钱，同时还亏损不小。如果你渴望成功，你就必须遵守规则，在你自己通过亲自验证这些规则后，勇敢的去执行他们，赢利就指日可待。

　　SOY BEANS – RECORD OF HIGHS AND LOWS.MAY SOY BEANS.
　　五月大豆期货的高低点记录　（这一部分与上面小麦部分内容类似，也是讲述买卖与遵守规则的例子，所以不再做重复性劳动，暂时省略翻译，以后有时间再补充上。）

第一章结束

[ 本帖最后由跳跳雨于 2007-7-12 15:06 编辑 ]

作者: liuweikkk 时间: 2007-7-12 15:05
第二章：谷物交易技术方法及趋势指标（江恩期货教程中文版）——004Page 37

目录

必要的资金......................................................................................1
收集整理各类图表....................................................................2
如何收集图表.............................................2
日内新高和新低––如何止损 .....................................................................3
何时空仓................................................................................4
交易指令 .............................................................................................4
买点和卖点
规则1: 只根据趋势指示交易 ..................................................4
2: 买在双底或者三重底.........................................................4
3: 卖在双底或者三重顶...............................................................5
4: 第四次到达相同水平.................................................................5
5: 上涨或者从三重底回调的底部 .................................5
6: 下跌或者从三重顶反弹后的顶部..........................................5
7: 在快速活跃的市场中运用7－10日规则..................................5
何时加码（金字塔式交易）
规则8: 金字塔式交易方法 .......................................................6
9: 移动加码 ..................................................................6
10: 仅在趋势出现指示时加码 ............................................6
11: 安全的加码规则.............................................................................7
12: 快速和大幅波动的市场.........................................................7
13: 何时不能加码................................................................................7
如何确定趋势的改变
规则14:次要趋势指示.....................................8
15: 主要趋势指示 ................................................................................8
16: 出逃点......................................................................................8
17: 第二个和第三个较高的底部及较低的底部................................8
18: 移动区间....................................................................................8

11-21-2006 06:45 shy
　19:顶或底的三分法.................................9
　　20: 二日图中的急速调整.....................................9
　　重要的开收盘价格
　　规则21: 日线顶部信号 .............................9
　　22: 日线底部信号............................................9
　　23: 收在顶部或底部和开在高点或者低点............10
　　24: 急速下跌或者拉升后的　整时间......................10
　　25: 连续数天收在同一水平....................................10
　　26: 收盘在同一水平附近的三次顶部或底部 ...............10
　　空间图表––活跃市场中的高级规则.........................11
　　小时图表 ...................................................11
　　三日图表或者主要趋势指示................................11
　　如何制作除了三日图外的图表...............................12
　　趋势改变的迹象 ........................................12
　　规则#27: 突破顶部与底部的三日图 ............................12
　　28: 三日图中的第一次反弹或者回调 ......................12
　　29: 三日图的第三次运行 .................................13
　　如何将趋势线指标和三日图结运用 .........................13
　　阻力级别 ...............................................13
　　波动区间..........................................14
　　最高卖价 .....................................14
　　留意谷物最重要的价格变动........................14
　　阻级别顺序.........................15
　　中间平均点位 .................................15
　　突破主要中间价位后的下一个阻力位...............15
　　接近同一水平的阻力点 ...............................16
　　如何分辨阻力级别 ..............................16
　　12的倍数.......................................16
　　无效的市场运行.................................17
　　周高低点图表 .....................................17
　　三周运行图表..........................................18
　　7到10周的移动 ....................................18
　　如何确定顶点和趋势的变化？.......................19
　　4条规则:
　　规则#1:时间规则........................19
　　2: 顶与底的波动..................................19
　　3: 空间与价格变动................................19
　　4: 阻力级别..............20

作者: liuweikkk 时间: 2007-7-12 15:06
19:顶或底的三分法...............................9
20: 二日图中的急速调整...........................9
重要的开收盘价格
规则21: 日线顶部信号 .............................9
22: 日线底部信号..................................9
23: 收在顶部或底部和开在高点或者低点............10
24: 急速下跌或者拉升后的　整时间......................10
25: 连续数天收在同一水平....................................10
26: 收盘在同一水平附近的三次顶部或底部 ...............10
空间图表––活跃市场中的高级规则........................11
　　小时图表 ..............................................11
三日图表或者主要趋势指示........................11
如何制作除了三日图外的图表.................................12
趋势改变的迹象 ....................................12
规则#27: 突破顶部与底部的三日图 ............................12
28: 三日图中的第一次反弹或者回调 ............................12
29: 三日图的第三次运行 ..............................13
如何将趋势线指标和三日图结运用 ..................13
阻力级别 ...............................................13
波动区间............................................14
最高卖价 .............................................14
留意谷物最重要的价格变动..........................14
阻级别顺序......................................15
中间平均点位 ....................................15
突破主要中间价位后的下一个阻力位........................15
接近同一水平的阻力点 ................................16
如何分辨阻力级别 .................................16
12的倍数............................................16
无效的市场运行...........................................17
周高低点图表 ....................................................17
三周运行图表..................................................18
7到10周的移动 .....................................18
如何确定顶点和趋势的变化？..............................19
4条规则:
规则#1:时间规则...................................19
2: 顶与底的波动.................................19
3: 空间与价格变动..........................19
4: 阻力级别..................................20
平均价格变动..................................20
谷物何时处于最强和最弱位....................20
例子：五月黑麦................................... 20-21
价格与时间波动对比................................ 22-23

作者: liuweikkk 时间: 2007-7-12 15:06
小麦、玉米、黑麦、燕麦的技术方法和趋势指导

必要的资金
The first and most important thing to know when you start to trade is the amount of capital required that will enable you to continue to trade 1, 2, 3, 5 or 20 years and never lose your capital. If you always have capital to start trading again, you can recoup losses and make money, but if you risk all of your capital on one or two trades and lose it, then the chances are against you. "Safety first" is the rule to apply.
在开始交易前，首要的事情是必须确定你有一定能维持1年、2年、3年、5年或者20年交易的必要的奖金，并且决不让他亏损。如果你总有资金一不断交易，你就能弥补损失而赚钱，但如果你想冒险在一两次交易中投入所有的资金而亏损，那么赢利的机会就与你擦肩而过。“安全第一”是你必须要记住的规则。
The unit of trading in Wheat on the Chicago Board of Trade is 5,000 bushels, altho you can trade in job lots of 1,000 bushels. When Wheat is selling between 50 and 75¢ per bushel, you need a capital of $750 to trade in 5,000 bushels. Your stop loss orders should be 1 to 2¢ per bushel under a daily bottom or under the Trend Line bottom, according to the rules.
CBOT小麦的交易单位是5000蒲式耳，然而你也能交易1000蒲式耳的小单。当小麦卖价在50－75美分/蒲式耳，保证金将是750美元/5000蒲式耳。按规则止损应设在日线底部1-2美分/蒲式耳处或在趋势线下面。

If your average risk is 1½¢ per bushel or $75 on each 5,000 bushels, you could lose 10 consecutive times before your capital of $750 would be wiped out. This has never happened and never will happen if you trade according to the rules and buy and sell on Trend Line bottoms and tops and on double or triple bottoms and tops. It is seldom that you will ever have three consecutive losses. However, should you have three consecutive losses, which would reduce your capital 200 to $250, then try to make your next trade of 5,000 bushels where your risk will only be 1¢ per bushel.

如果你冒平均每次1.5美分/蒲式耳或75美元/5000蒲式耳的险，你的750美元连续亏损10次才能暴仓。但是这是决不会发生而且从来没有出现的，前提是你必须依照在趋势线的顶部与底部和双或者三重顶底进行买卖规则。很少会出现连续三次的亏损的。然而你可能会连续三次亏损造成资金缩水200－250美元，那么就要尝试下次在交易/5000蒲式耳时只能冒仅亏损1美分/蒲式耳的风险。
If you have three trades that show a total loss of 5¢ per bushel and then you get a market running and make 10¢ per bushel, you are 5¢ per bushel ahead. Of course, many times in very active markets, with wide range, you will start a pyramid which will result in profits of 50¢ per bushel or even $1 per bushel before your pyramid is closed out. The main thing to do is to always go with the trend and never buck the trend, regardless of how much capital you have.

如果你三次交易总共损失5美分/蒲式耳，然后你在后市交易中赚了10美分/蒲式耳，除去前面的亏损，你赚了5美分/蒲式耳。当然，在一个大多数是非常活跃而大幅波动的市场中，加码操作将比未加码操作多赚50美分/蒲式耳或者1美元/蒲式耳。所以最重要的事情就是不管你有多少资金你总是要跟随趋势决不背离趋势。

When Wheat is selling between 75¢ and $1, then you should have a capital of $1,000 to trade in 5,000-bushel lots. When Wheat is selling between $1.00 and $1.50 per bushel, your capital should be $1,500. When Wheat is selling between $1.50 and $2.00, your capital should be $2,000.00 for each 5,000-bushel lot.
当小麦卖价在75美分－1美元/蒲式耳之间时，你应该有1,000美元操作5,000多蒲式耳。当价格在1－1.5美元/蒲式耳之间时，保证金需要1,500美元。在1.5－2美元时，需要2,000美元才能操作5,000多蒲式耳。

11-23-2006 07:12 shy
CORN AND RYE: Your capital for trading in these grains when they are selling between 25 and 40¢ per bushel should be $500. When they are selling between 40 and 75¢ per bushel, your capital should be $750. When they are selling between $1.00 and $1.75 per bushel, the capital required is $2,000. However, brokers may require more margin at the higher price levels.
玉米和黑麦：当玉米和黑麦的卖价在25－40美分/蒲式耳之间时，保证金需要500美元。当在40－75美分/蒲式耳时，需要750美元，当在1－1.75美元/蒲式耳时，需要2000美元。当价格在更高的水平时，经纪人商要求你的帐面上有更多的保证金。
KIND OF CHARTS YOU SHOULD KEEP
整理保存各类型的图表
You should always keep up a daily high and low chart with opening and closing on it and　keep your Trend Line on this Daily Chart.
你应该始终保存含有每日开收盘价的日图表，并且画上趋势线。
You should also keep up a 3-day Chart separately, and a Weekly high and low chart.
Your should have a monthly chart going back 15 to 20 years so you will know where the important tops and bottoms are, where old Resistance Levels have been made. This is often very helpful.
同样也要保存的个别的三日图表、周日高低点图表。还要有包含有过去15－20年的月图表，这样你才能知道行情重要的顶部与底部，以及历史的重要的阻力水平。这些对你研判行情是非常有帮助的。

[本帖最后由 mzyma1355 于 2008-1-18 17:12 编辑 ]

作者: liuweikkk 时间: 2007-7-12 15:07
CHART FOR THE TREND LINE INDICATOR
图表上的趋势线指示

Keep up a daily high and low chart on two of the active options and mark the opening and closing prices on this chart.
在一张具有两个活跃行情的日高低点图表上标记上开盘与收盘价格。
The Trend Indicator or Trend Line is obtained by following the daily moves. As long as the option is advancing and making higher bottoms and higher tops, the Indicator or Trend Line moves up each day to the highest price and continues to move up as long as the market makes higher tops and higher bottoms.
通过跟随每日价格移动来获取趋势指标或趋势线。只要选择的行情一直持续并且创出更高的底部和更高的顶部，趋势指标或趋势线每天提高到最高的价格并且只要市场继续移动创出更高的顶和更高底部。
The first day that the option reverses and makes a lower bottom by 1/4¢ or more, you move the Trend Line down to that bottom. Then, if on the following day the option moves down to a lower bottom, you move the Trend Line to the low of that day and continue to move it down as long as it makes lower bottoms.
如果首日选择的行情反向运行并且创出0.25美分或更低的一个稍低的底部，就将趋势线移动到那底部下面。那么，如果在第二天选择点移动到较低的底部下面，你移动趋势线到那天低点的并且继续向下移动它，只要它创出较低的底部。
Then, the first day that the option records a higher bottom and a higher top, you move the Trend Line up again to the top of that day.
This Trend Lime simply follows the swings of an option.
那么，第一天选择点记录更高的底部和更高的顶，你移动趋势线再到那天的顶上面。
趋势完全紧密跟随一个选择点的摆动。( Lime,为石灰黏鸟胶的意思，对不上号，不知如何译，引申为紧密？）

11-23-2006 07:13 shy
NEW HIGH AND NEW LOW THE SAME DAY
日内新高和新低
If an option makes a higher top in the early part of the day than the previous day, then before the market closes, goes down and makes a lower bottom than the previous day, you move the Trend Line up to the higher top reached in the early party of the day, then move it down to the bottom made later in the day.
The idea of the Trend Indicator is to show each higher top and lower bottom so that you will always know where an option starts down from the last top or starts up from the last bottom
如果在选择点的当天早盘创出一个比上一交易日更高的顶部，那么在收盘前继续下跌，创出比上一交易日更低的底部，就要将趋势线延伸移动的当天的早盘部分，然后再移动的当天的后面的底部
趋势指标的概念是展现出每一个更高的顶和较低的底部，以便你总能分辨从行情是如何从最后的顶部下跌或者从最后的底部开始上涨到你的起始选择点。

11-23-2006 07:13 shy
WITHIN DAY 日内行情
By a "within day" I mean a day when an option makes a higher bottom but does not make a higher top than a previous day; in other words, it remains within the range of the previous day.
我定义在一天内的波动为“即日行情”，当选择点创出一个比上一交易日更高的底部但是未创出更高的顶部；换句话说，他是持续上一个交易日的行情。（这段不一定准确）
If an option is declining and only rallies one day, making a higher bottom but not making a higher top, then breaks to new lows, I do not consider it important or advisable to move the Trend Line up; neither would I move the stop loss order down above this "within day" top unless it was after a prolonged decline in a fast-moving market.
如果一个选择点正在下跌并且只反弹一天，行情做出更高的底部但未做出更高的顶部，然后突破到新低，我认为其不重要或向上移动趋势线是不可取的；也不我将止损移动向上移动的日内顶部，除非它出现在一个快速移动的下跌延长市场内。
Apply this same rule when an option is advancing and makes a lower top but not a lower bottom the same day, remaining within the range of the previous day; then if it advances to higher levels the following day, the Trend Line should not be moved down and stop loss orders should not be moved up under this bottom unless there has been a prolonged advance in a fast-moving market.
当一个选择点正在上涨时使用同样的规则，市场做出较低的顶但并非是当日的较低的底部，在上一交易日的范围内波动；那么如果它在第二天创出一个更主的级别，那么趋势线就不要移动并且不用提高止损，除非市场快速移动并且上涨延长。
Within moves last sometimes as much as 2 or 3 days, that is, remaining 2 or 3 days on a side move without breaking the bottom of a previous active day or crossing the top of that day.
日内行情有时会持续2或3天，那就意味着，在未突破先前的活跃行情日的底部或穿过那天的顶部时，行情将待续盘整2或3天。
When a change occurs after a move of this kind, go with it. If it breaks the bottom after a series of within days, go short. If it crosses the top after a series of within days, consider the trend up and go long.
当在这类的行情以后发生变化时，伴随它的是。如果它突然连续数天突破底部，并且如果连续数天穿过顶部，可以认为趋势向上为长期多头市场。

[本帖最后由 mzyma1355 于 2008-1-18 17:11 编辑 ]

作者: liuweikkk 时间: 2007-7-12 15:09
HOW TO USE STOP LOSS ORDERS
如何止损
With this Method you must always use a stop loss order 1, 2, or 3¢ below the bottom or above the tops made by the Trend Indicator.
你必须要根据趋势指示在行情的底部下或者顶部上1,2或者3美分处进行止损。
Remember that stops are placed above or below the top of bottom on the Trend Line
Indicator, and NOT placed above or below the high and low for the day, except when you are applying the 7 to 10-day Rule and following a pyramiding move up or down, or where there is a Signal Top or Bottom day, when you place stop loss orders above the top of the signal day or below the bottom of the signal day.
牢记止损位置要根据趋势线指标设定在行情底部上面或者顶部下面，不要设在当日的高点上和低点下，除非当你应用7－10天的规则和跟随金字塔式交易上下移动或者在顶底日出现信号，这时你才将止损设定在信号日的顶部或者信号日的底部。
When the market is moving slowly, you can use 1¢ stop loss orders with greater success and larger profits, but when an option fluctuates rapidly the move will often go 1½¢ over a top or under a bottom and not go 2¢, therefore a 2¢ stop loss order will not be caught as often. A stop loss order 3¢ under a Trend Line Bottom or over a Trend Line top will be caught less frequently than a 1 or 2¢ stop loss orders. However, as a general rule, I only advocate using 3¢ stop loss orders in very active markets.
When Wheat is selling at very high prices, then you have to put your stop loss orders further away, but in most cases I never advise using a stop loss order more than 3¢ per bushel away.
当市场运行迟缓时，你可以大量使用1美分的止损成功来获得更大的利润，但是当一个选择区域快速波动时，行情会经常在1.5美分顶上或底下盘整，但不会超过2美分，因此2美分的止损点位将不会被套。止损在在趋势线底部下或趋势线顶上3美分处的被套机会将少于在1或者2美分处。然而，按惯例，我仅仅倡导在很活跃的市场上使用3美分止损。
当小麦价格卖价很高时，你必然将止损设得更远一些，但是在大多数情况下，我从来不建议止损超过3美分/蒲式耳处。
However, after Wheat has had a big advance or a big decline and you have big profits, then you can either follow up with stop loss orders 1¢ under each day’s bottom or above the top, or 3¢ per bushel below or above each day’s bottom or top, or follow down with a stop loss order 5¢ above [below?] the low level of each day or 5¢ per bushel under [above?] the top of each day until your stop is caught. Never risk 5¢ per bushel on any one trade to start with, only when you have big profits can you afford to have your stop loss order 5¢ per bushel away.
然而，在小麦已经经历过一次大牛市或大熊市并且你已大赚后，那时你可以跟随上涨行情将止损在每天的底或者顶部1美分处，或者跟随下跌行情将止损设在3美分/蒲式耳处，直到你设定的止损有效。从来不要在任何一次交易中冒超过5美分/蒲式耳的风险，只有当您已有大赢利时才能承受得起5美分/蒲式耳的止损位。
1/2-POINT MOVES AND STOPS
0.5美分的行情预示和止损
After Wheat has made a series of bottoms or tops around the same level and becomes very　active, then it is just as well to move your stop loss order up 1/2¢ under the series of bottoms or place your stop 1/2¢ above the series of tops. As a rule, when it breaks 1/2¢ under or crosses 1/2¢ over, it indicates a further move in that direction.
小麦结束在连续的同一底或者顶部盘整后将变得非常活跃，那么你最好将止损提高到同级底部的0.5美分下面或者顶部的0.5美分上面。作为一条规则，当它向下突破或者向上突破0.5美分时，预示行情要向那个方向更进一步发展。

WHEN NOT TO TRADE
何时空仓休息？
Never trade in any option after delivery day. In other words, on April 30 always get out of May Wheat and do not trade during May. Never trade in July during the month of July; nor in September option during the month of September; nor in December option during the month of December. It never pays to trade when you can be called on any minute for delivery.
Keep your trades in the distant options.
决不在交割后做任何交易。换句话说，总是要在5月小麦的交割日4月30日后出来，并且在5月期间别做交易。在7月期间从来不做7月合约; 也不在在9月期间的9月合约；不在12月期间做12月的。交割现货会让你无利可赚。（结合上下文应该是这个意思）
坚持你的换远月合约选择。

TRADING INSTRUCTIONS
交易指令
BUYING AND SELLING POINTS　
买点和卖点
Rule 1 –TRADING ON TREND LINE INDICATIONS ONLY
规则1: 只根据趋势指示交易
The simplest and easiest rule to use is to buy 10,000 bushels, 5,000 bushels, or any other unit that you start trading in, and place a stop loss order 1¢ under the last Trend Line bottom; then follow up with a stop loss order 1¢ under the last Trend Line bottom and never use any other indication to sell out until the Trend Line breaks 1¢ under the previous Trend Line bottom, where your stop is caught. Then reverse, selling 10,000 bushels or whatever your unit is and following that down with a stop loss order 1¢ above each Trend Line top until your stop loss order is caught. Then reverse and go long again.
应用最简单和最容易的规则就是是买10,000蒲式耳，5,000个蒲式耳，或任何另外的单位开始交易。将止损单设定在最后的趋势线底部下，然后跟随趋势将止损设定在最后那根趋势线底部1美分处，此过过程中不要参照其它的任何指示，直到趋势线突破前一个防止被套的趋势线底部。反之亦然。

作者: liuweikkk 时间: 2007-7-12 15:10
Remember, always allow your Trend Indicator to be your guide and when it turns down,follow it and do not expect a change until the Trend Indicator shows it. That is what your Trend Indicator is for – to keep you with the trend of the market, and when it changes, you must change and reverse your position accordingly.
记住，总是任由你的趋势指示作为你的指南并且当它反转时，跟随它并且不期待有改变直到趋势指标发出信号。更确切地说，你要一直坚持跟随市场的趋势，当它变化时，你必须因此改变角色。
This rule will make the cautious investor or trader a very large percentage of profits each year if he trades when the market is active. The higher price at which an option is selling, the more money this rule will make.
这条规则在行情活跃时将使那些谨慎的投资者或商人每年获得巨大的利润。在其中一个选择点卖出的更高的价格，这条规能使其赚更多的钱。

Rule 2 –BUYING AT DOUBLE OR TRIPLE BOTTOMS
规则2: 在双底或者三重底买入
Buy against double or triple bottoms and protect with stop loss order 1, 2, or 3¢ away
according to the price and activity. When an option makes the same price level a few days apart, it makes what we call a double bottom on the Trend Indicator. A triple bottom is when an option makes bottom around the same level of prices the third time. A second or third bottom can be slightly higher or lower than the previous bottom, but remember this rule:
在双底或者三重底买入，并根据价格与行情的活跃程度将止损设在1,2或者3美分处。当一段行情相隔数天处于同一价格水平时，在趋势指示上我们把它叫双底。三重底是指出现第3次同一价格水平的底部区域。第二个或第三个底部比先前底部稍微更高或较低一些，除了记得这条规则外：
When you buy at the time an option reaches the third bottom, you should never risk more than 1¢, for when the third bottom is broken, especially if this bottom is around the same level, and your stop is caught, it will indicate that the main trend has changes and you should double up and go short.
当在行情到达第三个底部时你已经买入，你决不要冒险多于1美分的风险, 因为当第3个底部被击穿时，尤其是如果这底部是附近同一价格水平，并且你的止损已经有效成交，预示主要趋势已经变化，并且你应该加倍做多并且做短。（这里应该是这个意思？）
Always reverse position when the trend changes. If you are long of the market and your stop is caught, you must go short. If you are short of the market and the trend changes and your stop is caught, you must go long or buy an equal amount.
当趋势改变时总是向相反的方向。如果做多市场，并且你的止损被成交，你必须做短线。如果你做空市场并且趋势已改变和你的止损成交，你必须做长线或买相等的数量合约。
The safest buying point is when an option makes a triple bottom near the same level,
protected with a stop loss order not more than 1¢ under the lowest level of the triple bottom.
当在同样的水平附近一个选择做3重底部时买入是最安全的，同时在3重底最低的价格下用超过1美分的止损单来进行保护。

Rule 3 –SELLING AT DOUBLE OR TRIPLE TOPS
This rule is just the reverse of Rule 2. Sell against double or triple tops with stop loss order 1,2, or 3 points above the top, but on a third top never use more than a 1¢ stop loss order because, as a general rule, when an option reaches the same price level the fourth time, it goes thru and goes higher. Therefore, it is always a sure indication when it goes above the third top, you can buy it for higher prices.
这条规则正好与规则2相反。对两重或3重顶部止损在1，2, 3美分，但是在第个3顶上不要超过1美分止损，因为在一般情况下，当一个交易第四次到达同样的价格时，它会突破前顶并且走得更高。因此，当它走到第3个顶上面时总是发出一个明确的信号，你可以以更高的价格买入。
The safest selling point is when an option makes a triple top near the same level, protected with a stop loss order not more than 1¢ above the highest level of the triple top.
当在同样的价格水平附近一个行情做3重顶时是最安全卖出点，同时在更高的3重顶处用一个不超过1美分的止损单来保护。

Rule 4 –FOURTH TIME AT THE SAME LEVEL
规则4–第四次到达同样的价格水平
Triple bottoms are the strongest and triple tops the strongest, but it is very important to watch an option when it reaches the same level the fourth time as it nearly always goes thru.Therefore it is safe to reverse position and pyramid when an option goes thru a triple top or crosses the same price level the fourth time.
3重底部与3重顶部的力量是最强壮有，但是注意当一个行情第四次到达与差不多它同样的水平时是很重要的。当行情第4次通过3重顶或者到达同级水平时，趋势倒置而呈金字塔，因此显得更加安全。
Reverse the rule on the down side. Where triple bottoms are made close together, when an option goes to this level the fourth time, it nearly always goes thru. herefore, when triple bottoms are broken, reverse, sell out all longs and go short, always going with the trend and never against it.
在底部时反过来运用此规则。当行情第4次突破第三个底部跌到相同水平时，长线卖出或者做短，总是跟随趋势而不是逆势。

[本帖最后由 mzyma1355 于 2008-1-18 17:13 编辑 ]

作者: liuweikkk 时间: 2007-7-12 15:11
Rule 5 –ASCENDING OR RISING BOTTOMS AFTER A TRIPLE BOTTOM
规则5–上涨或者从三重底回调的底部
After an option makes a third or triple bottom, then has a rally and from this rally reacts again,making a fourth bottom higher than the previous bottoms, it is a sign of strong support and indication of higher prices. Then if the fifth bottom is higher, it is a still stronger indication that a greater advance will take place.
在一个行情已经出现第3个底或3重底，然后将反弹并从这反弹点再次下跌，走出第4个比先前底部高一些的底部，它是一个强支撑的信号预示后市价格走高，如果第5个底部是比先前底更高的，它依然是一个预示后市是更大牛市的强烈信号。

Rule 6 –DESCENDING OR LOWER TOPS AFTER A TRIPLE TOP
规则6:下跌或者从三重顶反弹后的顶部
After a triple top, watch the fourth top or the first rally after an option breaks away from the triple top. If this fourth top is lower than the previous tops, it is a sign of weakness and lower prices. Then after a decline, if the next top of a rally, which would be the firth top counting from the first, is still lower, it is a sign of extreme weakness and indicates much lower prices.
在3重顶后，观察第4个顶或在已经远远突破第三个顶后第一个反弹区。如果这第4个顶低于先前的顶，它是弱势信号并预示后市价格会更加走低。如果在一次下跌后，形成从第一个顶部算起的反弹顶部，预示后市将继续下跌，行情将会向更低的价格迈进。

Rule 7 –7 TO 10-DAY RULE FOR AN ACTIVE, FAST-MOVING MARKET
在快速活跃的市场中运用7－10日规则
When an option of grain is very active, declining fast and making lower tops and lower bottoms each day, after is has declined 7 days or more, you should make your stop loss order 1¢ above each day’s top, and when your stops are caught, reverse position and buy, placing stop loss order 1¢ under the previous day’s bottom.
当谷物行情非常活跃时，价格每天在快速下跌中形成更低的顶部和底部，当他已经下跌7天或者更多天后你的止损应该设定在每天的顶部1美分上面，当止损位被吃掉后，马上反手买进，将止损设定在上个交易日底部下面1美分处。
When an option is very active and advancing fast, after it has advanced 7 to 10 days or more without breaking a previous day’s bottom, you should follow your purchase up with a stop loss order 1¢ under each day’s low until the stop is caught. Then reverse and go short, placing a stop loss order 1¢ above the previous day’s top.
在行情非常活跃并快速上涨时期，价格已经上涨7－10天或者更长时间未破前期底部，你就要跟随行情将止损提高到每天的底部，直到他被吃掉。然后反手短线操作，将止损设定在上个交易日顶部上面1美分处。
But do not consider that the main trend has changed up or down until an option crosses a Trend Line top or breaks under the last Trend Line bottom.
在此过程直到行情穿过趋势线顶部或者跌破最后的底部趋势线才可认为主要趋势已经改变。

PYRAMIDING　Rule 8 –HOW TO PYRAMID
何时加码（金字塔式交易）规则8: 金字塔式交易方法
Much larger profits can be made pyramiding, and it is just as safe to pyramid if you adhere strictly to the rules.
当积累了大量的利润后正好适合连续投机，如果你严格坚持用规则实行金字塔式加码是非常安全的
If you are trading in 5,000 bushels and using a capital of $750 to $1,000 after you buy or sell the first 5,000 bushels, when the market moves 5¢ in your favor or when you have $250 profit, buy or sell 5,000 bushels more so long as the Trend Indicator shows that the main trend is still up or down. Continue to buy or sell 5,000 bushels more every time the market moves 5¢ in your favor, always placing a stop loss order not more than 1¢ below the Trend Line bottom or 1¢ below each day’s lowest, if you are long, and not more than 1¢ above Trend line top or 1¢ above each day’s highest if you are short. If you have pyramided until you h ave 25,000 bushels, then you should have an order in to sell 30,000 bushels on stop, which would put you short 5,000 bushels to start a new deal. Pyramid again in the same way or as long as
the market moves in your favor.
如果你用$750到to $1,000进行首次的5,000蒲式耳买卖，当市场在你的预料中移动了5美分，或者当你有了$250的利润，始终随着上涨或者下跌趋势的指示进行5,000蒲式耳的长线买卖。当市场每次按你的意愿移动5美分时，你就继续进行5,000蒲式耳或者更多的买卖。如果你长线操作，总是将止损设定在不要超过趋势线底部1美分或者每天的是最低点上面1美分处，，如果短线，则不要超过趋势线顶部或者每天最高点1美分处。直到你已经有了25,000蒲式耳，你才能进行金字塔式加码，那么你应该有一个设定在30,000蒲式耳处止损的命令，它适合你进行新的5,000蒲式耳短线交易。只要市场在按你的意愿不断运行用同样的方法再次加码。
But remember that when an option selling between 60¢ to $1.00 per bushel has moved 15 to 25¢ in your favor, you must watch for a change in trend and be careful about buying or selling another lot on which you would have to take a loss.
但是当卖价在60美分到1美元/蒲式耳之间时已经按你的意愿运行了15到25美分，你就要仔细观察趋势的演变，并且在你已经赔过一两次钱后就要小心买卖了。

[本帖最后由 mzyma1355 于 2008-1-18 17:13 编辑 ]

作者: liuweikkk 时间: 2007-7-12 15:11
Rule 9 –THE RUN OR PYRAMIDING MOVE
规则9: 运用移动加码
The big money in pyramiding is made in the run between accumulation and distribution.
在金字塔中赚钱的大量的金钱是通过成功的积累与合理分配的。
Pyramids should be started after double or triple bottoms. Then, when you get into this run,buy every 5¢ up, protecting with a stop loss order 1¢ under each day’s bottom or 1¢ under the last Trend Line bottom. By following up with a stop loss order 1¢ under the Trend Line bottom, you not get out until the main trend has changed. But in fast-moving markets, after you have bought the 5th or 6th lot, then it is safest to keep your stop loss orders 1¢ under each day’s bottom, because in active fast-moving markets at high levels, an option often declines 10 to 12¢ in two days without breaking the Trend Line bottom or without declining and moving the 3-day Chart down. If you use your rule for determining the top day, then you can get out before the trend changes or even before the option breaks the bottom of a previous day.
在双底或3重底的底部以后开始金字塔加码。然后当你实施这一方案后，每天涨5美分就买进，止损设在每天底部的1美分下面或者最后那根趋势线下面。通过设定在趋势下底部1美分的止损单跟随趋势直到他改变才出来。但是在一个快速变化的市场中，你已经进行了第5次或者第6次以上的买单位，那么最安全的就保持你设定在每天底部1美分下的止损。因为在一个已经在高位快速移动和活跃的市场中，行情通常会出现一个两天内不会跌破趋势线底部的10到12美分回调，或者回落到三日图下面。如果你运用确定顶部日期的规则，那么你能在趋势改变前或者行情恰好在破前期底部前跑掉。

Rule 10 –PYRAMIDING ON TREND LINE INDICATIONS ONLY
仅根据趋势线指示加码
The pyramiding plan is simple and easy to use. You simply use Rule 1 to make your first trade, buying the first lot after the Trend Line Indicator shows up trend by crossing a Trend Line top by 1¢, then use Rule 9 for buying the second lot after the option breaks out of a trading range, but, remember, never buy the second lot until the option crosses the highest top
of the trading range.
加码计划实施起来是非常简单容易。你只用规则1就能完成你的首笔交易。在上穿一条趋势线顶部1美分的上涨行情中买进第一份合约；然后在行情突破趋势线区域用规则9买进第二份。但是请记住：在交易过程中决不在行情突破最高顶部时买进第二份。
In a declining market, sell the first lot after the Trend Line shows down trend by breaking a Trend Line bottom by 1¢; then use Rule 9 for selling the second lot after the option breaks out of a trading range, only selling the second lot when the option breaks the lowest bottom of the trading range.
在熊市中，在下穿一条趋势线底部1美分的下跌行情中卖出第一份合约；然后在行情突破趋势线区域用规则9卖出第二份。只在行情突破最低的底部时买进第二份。

Rule 11 – SAFEST PYRAMIDING RULE
最安全的加码规则
One of the safest rules to use for pyramiding when an option is at extremely high levels or extremely low levels is to start with 5,000 bushels and when the market moves 5¢ in your favor, buy another 5,000 bushels; then when it moves 5¢ more, buy or sell 5,000 bushels; then
on the next 5¢ move in your favor, buy or sell 5,000 bushels. Continue to follow the market up or down with this amount until there is a change in the main trend.
最安全的规则的之一是当行情走到非常高或者非常低的级别时开始用5,000蒲式耳加码和当市场在你的意愿下移动5美分时买另一份5,000蒲式耳；当价格变动5美分多时，买或卖5,000蒲式耳；在下一个有利于你的5美分变动时，买或卖5,000蒲式耳；在牛市或者熊市中用这样的量来跟随市场，直到大势改变。

Rule 12 –FAST MARKET AND WIDE FLUCTUATIONS
快速和剧烈波动的市场
In fast-moving markets, like 1915 to 1917, and 1929, 1933, 1945 and 1946, when you pyramid and have very large profits, you should follow down with a stop loss order about 7 to 10¢ away from the market. Then, after a severe decline reduce stop loss orders, placing them about 3 to 5¢ above the low level, because when a market is moving as fast as this, you should not wait for the Trend Indicator to show a change in trend by crossing a Trend Line
top or even a previous day’s top before changing position; also apply the rules for determining bottom by Signal Day and Opening and Closing Prices.
Reverse this rule in an advancing market.
在一个快速移动的市场中，如1915到1917年,1929、1933年, 1945、1946年，当你已经加码并获巨利后，你就将止损位调到市场正常位7－10美分下面，在一轮暴跌后恢复到原来的止损标准，将其放在低级水平线上3－5美分处，因为当市场象这样剧烈波动时，你就不能再等他穿过顶部趋势线或者与之相等的前期顶部来给你指示趋势已经了；同样，在通过转势日（Signal Day，这样翻译准确些）与开盘价和收盘价确定的底部位应用这条规则。
在牛市中反转这条规则即可。

作者: liuweikkk 时间: 2007-7-12 15:11
规则13: 何时不能加码
Never buy a second lot for a pyramid when an option is near a double top or sell a second lot when an option is near a double bottom.
决不在双顶和双底附近进行二次加码。
Safety is the first consideration in starting or continuing a pyramiding campaign in an option of grain. Mistakes are made by buying or selling a second lot too near the accumulation or the distribution point(成交密集区？). After a big run up or down, you must always wait for a definite change in trend before starting to pyramid.
在刚开始或者准备持续加码时首先要将资金安全放在第一位。在交易密集区附近进行第二波买或卖单是错误的行为。在开始加码前你始终要等待在一轮大涨或大跌后明确的趋势改变。
An option often holds for several days or weeks in a range or 10 to 12¢, moving up and down,not crossing the highest top or breaking the last bottom made. When it does get out of this range, crossing the highest top or breaking the lowest bottom, it indicates a bigger move and you should start to pyramid, buying the second lot after it makes a new high or selling when it breaks to a new low.
行情经常保持在几天或者几周盘整在10－12美分内上下波动，他不会突破顶部的最高点或者跌破底部最低点。当行情超过一旦突破这两个上下区间时，这就预示着一轮大的行情出现，你应马上加码。在一轮新高或者新低后，接着进行第二波加码。
The Wheat market has peculiar and unusual moves. It often has straight moves up or down with very small reactions, often only a 2-day rally or a 2-day reaction until the long trend has run out. After these long periods of advances or declines, then Wheat will go thru a narrow trading range for days, weeks or months. While it is in this trading range, whether it is
accumulating or distributing, then you must trade against the bottoms and tops and wait until it breaks out of the trading range up or down before starting a new pyramid. You have to trade for small profits when Wheat is in these narrow ranges.
小麦市场则有自身的特殊和与众不同的波动行情。它只要有很小的反应就经常笔直的涨或者跌，经常是回调2天或反弹2天直到长趋势结束。在长期上涨或者长期下跌后，小麦将持续数日、周、月的窄幅震荡。当它在这个范围内交易时，无论他如何密集成交，在一轮新的加码前，你必须根据顶部与底部等待直到他突破交易区的后继续上涨或者下跌。
当小麦在这些狭窄的范围波动时。你可以在小赚一些。（此段不满意如何翻译against the bottoms and tops如何理解？逆势？）

HOW TO DETERMINE CHANGE IN TREND 如何确定趋势的改变
Rule 14 –MINOR TREND INDICATOR
规则14:次级趋势指示
In a declining market, never consider the minor trend has turned up until the trend changes on the Trend Line Chart. To change the trend on the Trend Indicator, an option must advance 1 or more cents above the last top on the Trend Indicator, according to the activity and price of the option, whether you are using 1, 2, or 3¢ stop loss orders above the previous top.
在一个下跌市场中，在趋势线图表上未显示趋势已经改变前决不认为次级趋势已经向上。在趋势指标中显示如果趋势将发生变化，那么对应行情就必须涨过最后的顶部上面1美分甚至更多。根据行情价格与活跃程度的变化，在上一顶部的1、2或者3美分处灵活设定止损位。
In an advancing market, never consider that the minor trend has turned down until an option breaks 1 or more cents under the last bottom on the Trend Indicator or Trend Line Chart.
在一个上涨市场中，在趋势线图表或趋势指标中未显示趋势已经改变前决不认为次级趋势已经向下。除非行情已经突破最底部价格1美分甚至更多。
Remember that breaking one cent under a daily bottom or going one cent over a daily top does not change the trend.
记住：当行情只是跌破每日的底部下面一美分或者上涨超过每日顶部上面一美分不是趋势改变的信号。

Rule 15 –MAIN TREND INDICATOR主要趋势指示
After a prolonged advance, never consider that the main trend has changed until a bottom made by the 3-day chart has been broken.
在一轮延长的上涨后，除非跌破3日图表上一个底部否则决不认为主趋势已经改变。
After a prolonged decline, never consider that the main trend has changed until a top made by the 3-day Chart has been crossed.
在一轮延长的下跌后，在未上穿过3日图表上的一个顶部前决不认为主趋势已经改变。

Rule 16 –BREAKAWAY POINTS
平仓位置
Watch the point and price where the last move starts up from and when that price is broken,consider that the main trend is changing to the down side.
When an option is in strong position at high levels, watch the last bottom or starting point of the last move to new highs. When this level is broken it is an indication that the main trend is turning down.
观察在最后阶段行情开始位置和价格上涨变化，当这个价格被有效突破后，可以认为主趋势正向下发生改变。
当行情位于高位的强势区时，观察最后的底部或者从开始上涨到创出新高这段价格变化，当这个价格水平被突破时，那就是主趋势反转的信号。
Watch the point and price where the last move starts down from and when that price is crossed, consider that the main trend is changing to the up side.
观察在最后阶段行情开始位置和价格下跌变化，当这个价格被有效上穿后，可以认为主趋势正向上发生改变。
When an option is in a weak position at low levels and slowly working lower, making lower tops and lower bottoms, it is important to watch the last top or the point where an option breaks away from and makes new lows and never decide that the main trend has turned until the option begins to cross some of these levels from which it broke away.
当行情位于低位水平弱势区并且以较低的价格缓慢变动，不断创出一个较低的顶部和底部时，这时观察行情最后创出新低的价格或位置的变化显得极其重要，在行情未突破并开始穿过一些水平线前绝不认为主趋势已经反转。

[本帖最后由 mzyma1355 于 2008-1-18 07:37 编辑 ]

作者: liuweikkk 时间: 2007-7-12 15:12
Rule 17 –SECOND AND THIRD HIGHER BOTTOMS AND LOWER TOPS
第二个和第三个更高的底部及更低的顶部.
Watch the second and third higher bottoms. When an option breaks a second higher bottom,consider the main trend has changed to the down side.
Watch the second and third lower tops. When an option crosses the third lower top, consider the trend has turned up, at least temporarily, and go with it.
观察第二个和第三个更高的底部。当行情跌破第二个更高的底部时，可以判断主趋势已经向下边改变了。
观察第二个和第三个更低的顶部。当行情跌破第三个更低的顶部时，认为主趋势已经掉头向上了，至少暂时要顺应这段趋势。

Rule 18 –SECTIONS OF A MOVE
分段运行的市场
It is important to study the different sections or moves that an option makes between the first low level and the first, second, third, fourth, or fifth tops of a move. After an option has had several moves up and reacted, when it is near the end of the move, the gains over the last previous top will be less and the run from the last bottom to the last top will be less than in the early stages of the movement, an indication that the move has run out and that a culmination is near. Then apply your other rules and watch the Trend Indicator and 3-day Chart for a reversal in trend.
在研究行情在不同的段（浪）内或者在第一个低级水平线与第1、2、3、4或者第5个顶部之间的运行情况中发现其非常重要。在行情已向上运行几段并背离后，当其即将结束运行时，在最末段的前期顶部上的资金增益将会是比较少；从最后的底部运行到最后的底部的资金增益也比从早期阶段的少，迹象表明行情运行已经结束，并且已经接近了顶部。然后应用其它规则并在趋势指标和三日图表上趋势的反转。
In a declining market, apply the same rule. When the declines or sections of a move become shorter, it indicates that the selling pressure is waning.
在熊市中应用同样的规则。当下跌或者分段运行变得越来越短时，预示空头力量减弱。

Rule 19 –3 FULL-CENT INDICATION AT BOTTOM OR TOP
顶底处的完整3美分
In very weak markets watch for the first advance of 3 full-cents from any low level and in very strong markets for the first reaction of 3 full-cents which will indicate a change in the minor trend.
在非常弱势的市场中留意来自任何的低水平级别的第一个3美分上涨和在非常强势的市场中整个第一个3美分反弹，这将预示次级趋势的改变。　
By 3 full-cents I mean, for example, from 60 low, a rally to 63 would be 3 full cents. If this low was 59½¢, we would not count 3 full cents until the option rallied to 63.
完整3美分法的意思是：例如，从低点60美分，反弹到63需要完整的3美分。如果低点在59.5美分，在其未反弹到63美分前我们认为不是完整3美分法。
Reverse this rule when an option is advancing. Suppose it advances to 50-7/8 and has not had a 3 full-cent reaction for some time; then if it declines to 47, I would consider it a 3 full-cent reaction and an indication that the minor trend was reversing. In this case, if the option only declined to 47½ or even to 47¼, we would not count it a full 3-cent reaction, because full points are based on even figures.
在牛市中反转这条规则。假定有时已经上涨了50－7/8美分却还未回调完整的3美分；那么如果下跌到47美分，我认为它是完整3美分的回调，并且趋势显示次级趋势正在反转中。在本例中，如果行情只跌到47.5或者甚至到47.25，我们不计入完整3美分回调，因为全部的点位是基于准确的数字。
（even figures在这里应该是精确的：（在数量，程度或数目上精确的，恰好的，整的；精确的，不一定正确，有待方家认证，读者请注意这一点。）

Rule 20 –SHARP 2-DAY SIGNAL MOVE2天中的急剧行情信号　
After a prolonged decline an option often has a sharp 2-day rally, making a very wide range in price, then moves in this same range for several days or weeks without getting higher than the top of the 2-day rally or without breaking the previous bottom. This shows support or accumulation. Then when the top of the 2-day rally is crossed, it is an indication that you
should buy a second lot to start a pyramid.
经过长期的下跌后，行情经常出现连续2天的强烈的巨幅反弹，然后是在这2天反弹的顶部与前期底部的区间盘整几天或者数周，这就是一种支撑与密集区的表现。当这2天反弹的顶被突破后，这就预示着你可以进行第二张单的加码。
Apply the same rule after a sharp 2-day decline, which does not change the main trend because the option does not decline into the 3rd day, but later when the bottom of this sharp 2-day decline is broken, it is an indication that the main trend has turned down and you can start to pyramid again.
在2天的剧烈回调中应用同样的规则，当行情第三天未跌破时，主趋势不会改变，但是假如这2天的剧烈回调的底部最后却被击穿，这就预示主趋势将反转，你就要再次进行加码了。

[本帖最后由跳跳雨于 2008-1-18 14:29 编辑 ]

作者: liuweikkk 时间: 2007-7-12 15:12
IMPORTANCE OF OPENING AND CLOSING PRICES
重要的开盘与收盘
Rule 21 –SIGNAL TOP DAY　日线顶部信号
The opening and closing prices are very important when an option is very active and reaches extreme high and low.
当行情非常活跃和达到极限的高点与低点时，开盘价与收盘价这时就显得极其重要了。
On the day that extreme high price of a move is reached after a big advance, if option closes near the low of the day or closes below the halfway point of the day’s range or closes below the opening, it indicates that the selling is better than the buying and that the option is getting ready to turn the trend down, at least temporarily. When there is a move of this kind, you should sell out and go short without waiting, placing a stop loss order on the shorts 1¢ above the final day’s high.
在一轮大牛市结束到达极限高点价格的那天，如果当天开盘价接近收盘价，或者收盘价低于当天中价（应该是最高一最低的一半），或者收在开盘价下面，那么预示卖者多于买者，至少行情准备转势了。当这种情况出现时，你就要毫不犹豫卖出并且短线操作，止损定在那天最高点上1美分处。

Rule 22 –SIGNAL BOTTOM DAY 日线上的底部信号
On the day that an option has a sharp break after a prolonged decline, if it closes higher than the opening or above the halfway point or better still if it closes at the extreme high, after making a wide range and going lower than the previous day, it is an indication that the buying is better than the selling and that the trend is getting ready to turn up or that a bigger rally may be expected. Therefore you should cover shorts and buy without waiting for the option to make a higher top than a previous day or without waiting until the trend turns up by crossing a Trend Line top.
在一轮长期下跌市中出现一个剧烈下跌的时候，如果当天收盘价高于开盘价，或者收盘价高于当天中价，或者收在最高价上面，在进行宽幅震荡后价格比前几天收低，那么预示买者多卖者，行情准备转势向上或者将会迎来一轮预期的强烈的反弹。所以你要短线出仓，马上短线买进，等待行情走到比前期顶部更高的位置或者直到穿越趋势线顶部。

Rule 23 –CLOSING NEARER THE TOP OR BOTTOM AND OPENING LOWER OR
HIGHER　收盘价在顶部或底部附近和开盘价在较低点或者较高点

If an option has a big advance and closes near the top or at the exact top, then the next morning opens 1 to 2¢ lower, it is a sign of weakness and an indication that the option is going lower, especially if it fails to cross the high of the previous day.
如果行情在一轮大涨后收在接近或相等的顶部价格处，那么第二天早盘低开1－2美分，
那就证明后市较弱并且将一走低，特别是在未突破前期高点时尤其明显。
When an option is declining and closes near the lowers levels of the day, then next morning opens 1 to 2¢ higher and never breaks the opening price and closes near the highest level of the day, it is a sure sign of good support and indicates that the option is going higher. If the option opens higher after closing weak and holds until 11 o’clock the same day without
breaking the opening, it is a sign of higher prices and you should buy.
当在下跌行情中，收盘接近前期的较低的水平级而第二天早盘高开1－2美分，直到收盘未跌破开盘价并收在当天最高点，那就确认是个强支撑并且预示后市一路走高。如果行情高开后，直到当天上午11点未破开盘价并以弱势收盘，那么后面将会走到一个比较高的价格，你应该买进。

Rule 24 –A NARROW DAY AFTER A SHARPER DECLINE OR A SHARP ADVANCE
急速下跌或者拉升后的短期调整
After an option has been declining for some time and has a sharp break, closing weak or near the low level, if on the following day the range is very narrow and the option goes only slightly lower and closes about the same level, it is an indication that the move has a run out and your stop loss order should be moved down 1¢ above the top of the narrow day.
行情在下跌一段时间并且已经急速下跌后，收盘疲软或收在低级水平附近，如果在下一天行情幅度非常狭窄，同时在较低位行情波动变得极其微小且收盘在同一水平，那就预示市场调整结束，你的止损应该下移到短期顶部上面1美分处。［这个narrow day如何翻译困扰了我两天多的时间，造成脑子短路，查了网上都没有，最后突然来了灵感才翻译成短期。有时就是因为中间的一段话，或者词组翻译不准确，就严重影响了进度。］
After an option has been advancing for some time and had a sharp advance, closing strong or near the high level, if on the following day the range is very narrow, it is an indication that a culmination is near and your stop loss order should be moved up 1¢ under the bottom of the narrow day.
行情在上涨一段时间并且已经急速拉升后，收盘强劲或收在高级水平附近，如果在下一天行情波动幅度非常狭窄，那就预示市场接近顶点，你的止损应该上移到短期底部下面的1美分处。

[本帖最后由 mzyma1355 于 2008-1-18 07:37 编辑 ]

作者: liuweikkk 时间: 2007-7-12 15:12
Rule 25 –CLOSING AT THE SAME LEVELS FOR A SERIES OF DAYS
连续数天收在同一水平
Watch the closing price of an option after a prolonged decline or a prolonged advance.
注意一轮持久上涨或者持久下跌后的收盘价。
If an option closes for a series of days around the same level, it is an indication that it is receiving support or meeting resistance around this level. Then the first day that it closes above or below this series of closings, it will be an indication of a change in trend and you should go with it.
如果行情连续数天收在同一水平周围，那就预示行情在这一级水平的遇到支撑或者强大的阻力。然后在首日收盘在这几天收盘价上面或者下面，那就暗示趋势将改变，你应该随之而上。

作者: 跳跳雨 时间: 2007-7-12 15:13
这是黑水兄译的,可惜没译完.

K兄,发文时在图示处打上勾,在文中就不会有字母变成小图标了.

作者: liuweikkk 时间: 2007-7-12 16:41

原帖由 跳跳雨 于 2007-7-12 15:13 发表 # b1 {6 E4 P- }6 f0 _

' w) a: y8 u" m6 Y) K, s% H# A( G/ A' A6 Z: r0 ~' u- s4 ]
K兄,发文时在图示处打上勾,在文中就不会有字母变成小图标了.

又学一招

作者: 鸿蒙道人 时间: 2007-8-8 00:18
向老师学习,谢谢老师.

作者: mzyma1355 时间: 2008-1-18 11:15

原帖由 跳跳雨 于 2007-7-12 15:13 发表
& C, I" f5 a+ d# o这是黑水兄译的,可惜没译完.
4 C1 t5 z' b) C, |+ E
) ?+ u$ p0 e# \: LK兄,发文时在图示处打上勾,在文中就不会有字母变成小图标了.
, i! F: G( ]: Y6 b

学习一下。

作者: OldZ 时间: 2008-2-24 01:44
谢谢楼主提供

作者: kop123 时间: 2008-2-24 22:29
真好

I like

作者: transit2563 时间: 2008-2-29 00:35
标题: 回复 #42 跳跳雨的帖子
向黑水兄弟致意
3q

作者: transit2563 时间: 2008-3-12 16:51
标题: 回复 #43 liuweikkk 的帖子
k兄
請問你是用何種軟體翻譯的
翻的不錯
謝謝

作者: zlmm 时间: 2008-3-12 20:27
用的是黑水牌软件翻译的.呵呵.这个是黑水兄翻译的

作者: jqbudd 时间: 2008-3-19 13:07

谢谢！！！！！

作者: hope7199 时间: 2008-4-7 15:55
学习中

谢谢！知识是宝贵的。

作者: kincash 时间: 2008-4-9 04:45

这本书是无价之宝

作者: wyw787 时间: 2008-4-28 23:32
标题: 回复 #18 liuweikkk 的帖子
连续数天收在同一水平
Watch the closing price of an option after a prolonged decline or a prolonged advance.
注意一轮持久上涨或者持久下跌后的收盘价。
If an option closes for a series of days around the same level, it is an indication that it is receiving support or meeting resistance around this level. Then the first day that it closes above or below this series of closings, it will be an indication of a change in trend and you should go with it.
如果行情连续数天收在同一水平周围，那就预示行情在这一级水平的遇到支撑或者强大的阻力。然后在首日收盘在这几天收盘价上面或者下面，那就暗示趋势将改变，你应该随之而上。

作者: LAOER00 时间: 2008-4-29 09:46
感谢

作者: zm3333 时间: 2008-4-30 23:42
无价之宝，先收起来再看

作者: logoslogos 时间: 2008-7-2 13:21
刚得到此书时,基本不分昼夜,呵呵,真有欲罢不能感觉!

作者: logoslogos 时间: 2008-7-2 13:22
无价之宝不分昼夜 try to study thoroughly

作者: 601988 时间: 2008-7-8 05:42
经典好书，好好学习。谢谢

作者: lqz888 时间: 2008-7-17 00:28
楼主的无私分享，好人有好报。谢谢！

作者: nth 时间: 2008-7-17 16:46
感谢上传和翻译！

作者: 你我皆凡人 时间: 2008-8-23 18:30
感谢分享。

作者: cxdude 时间: 2008-9-3 14:56
功德无量了

为我技术派的进步奠定了基础

作者: sweeperman 时间: 2008-9-26 15:28
非常好，谢谢了

作者: fang02050 时间: 2008-9-30 16:31
标题: 回复 #1 liuweikkk 的帖子
老师，你发的ＰＤＦ原来有密码，我现在破解了，可以随便的复制和处理，我看很多同学在要，您能不想个办法来重新传上去，如果你要的话，给我短信．

" />" />" />

给大家一个软件，大家直接到＂百度＂里面搜索＂PDF Password Remover v3.0＂，然后操作就很简单了，不怕加密文件了，其实大家可以多多利用这个网络哦，呵呵

[本帖最后由 fang02050 于 2008-9-30 23:03 编辑 ]

[本帖最后由 fang02050 于 2008-10-1 08:18 编辑 ]

作者: jennyqjb 时间: 2008-10-2 09:05

作者: wyw787 时间: 2008-10-3 09:57
标题: 回复 #16 liuweikkk 的帖子
学习,谢谢

作者: 淘金大使 时间: 2008-10-13 17:07
谢谢，下载慢慢研究

作者: wsgswsgs 时间: 2008-10-27 01:50
上帝会佑你啊

作者: wsgswsgs 时间: 2008-10-27 01:51
真诚的感谢好人啊

作者: yefc0000 时间: 2008-10-27 22:15
标题: 打印版
[attach]68945[/attach]
[attach]68946[/attach]
[attach]68947[/attach]
[attach]68948[/attach]
[attach]68949[/attach]
[attach]68950[/attach]
[attach]68951[/attach]

作者: shanyaodan 时间: 2008-10-28 16:48

作者: liuhuidzl 时间: 2008-12-3 09:43
非常感谢无私的奉献。

作者: hsuyawei 时间: 2008-12-8 16:18
非常感谢无私的奉献。

作者: selina1982 时间: 2008-12-23 14:12
提示: 作者被禁止或删除内容自动屏蔽

作者: axcqy 时间: 2009-1-11 19:51
不甚感谢！！!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

作者: new79man 时间: 2009-1-12 23:30
顶起让大家都能看到

作者: phtsl 时间: 2009-1-13 00:01
不错不错，谢谢楼主，可惜今天没分送楼主了

作者: axcqy 时间: 2009-1-13 17:39
好心人啊

Thks Thks

作者: 有所思 时间: 2009-2-7 14:04

谢谢分享哈

作者: tfcrdxesz1 时间: 2009-3-4 15:06
非常非常感谢楼主提供

作者: nippon_du 时间: 2009-9-4 19:32
标题: 楼主，感谢你啊

作者: aahy8899 时间: 2010-5-6 18:50
感谢无私奉献，好人好运

作者: vip_year 时间: 2011-4-23 07:03
标题: 谢谢分享
谢谢分享，很值得学习

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