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HOW TO TRADE
After you have thoroughly mastered all of the lessons, be sure you are right before you make
a trade. Never guess. Trade on mathematical indications only.
WHAT YOU MUST KNOW BEFORE YOU START TRADING
You must know exactly how to apply all the rules. You must know where to place a stop loss
order and must look up what cycle the year is in, that is, whether it is a bull or bear year,
whether the main trend should be up or down.
Before you make a trade, either buying or selling, consider the position of each individual
stock on the monthly chart; next consider the weekly chart and then the daily chart. If they all
confirm an uptrend, it is a cinch to buy, provided you have located the point at which to place
a stop loss order. On the other hand, if the cycle shows that it is a bear year and the monthly,
weekly and daily chart show down trend, then it is the time to go short, but again, you must
look for the most important point ... where to place the stop loss order so that it will not be
more than 3 points away and closer if possible.
WHAT TO LOOK UP BEFORE YOU MAKE TRADE
Following are the most important points that you must consider before buying or selling a
stock:
1. TIME CYCLE ... whether Bull or Bear year, and whether main trend of the general
market is up or down.
2. CYCLE OF INDIVIDUAL STOCK … whether up or down year.
3. MONTHLY position on TIME PERIODS from tops and bottoms.
4. WEEKLY position on TIME PERIODS from tops and bottoms.
5. RESISTANCE LEVELS ... see whether the stock is near any half-way point or other
points of support or resistance.
6. Study all FORMATIONS. If a stock has held for several days, weeks or months around
the same level, determine whether it is about ready to cross tops or break bottoms.
7. Look up VOLUME OF SALES. See whether a stock has increased or decreased Volume
over past few days or weeks.
8. Look up SPACE or price movements from previous tops and bottoms and find out the
greatest advance or decline for past few weeks or months. Example: If a stock has
reacted 5 points several times and at the time you look it up, if you find it is 3 points
down from the last top and the trend is up on monthly, weekly and daily with the price
near a support point, you could buy with a stop loss order 2 to 3 points away. If the stock
should break back over 5 points, the previous reaction limit, it would show a change in
trend and you should go short of it.
9. Never overlook the fact that you must have a definite indication before making a trade.
10. Most important of all ... always locate the point at which to place a stop loss order to
limit risk.
PRACTICE TRADING ON PAPER
After you feel sure that you have mastered all the rules and know exactly how to determine
the trend of a stock and the place to begin trading, then to make yourself doubly sure and
establish confidence, practice trading on paper and till you thoroughly understand how to use
the rules and when to use them. If you make mistakes trading on paper, then you would make
mistakes at the time in actual trading and you are not ready to begin trading. When you feel
that you are competent to start trading, apply all of the rules and TRADE ONLY ON
DEFINITE INDICATIONS. If you are not sure of the trend or the buying and selling price
and not sure where to place a stop loss order, then wait until you get a definite indication.
You can always make money by waiting for opportunities. There is no use getting in partly
on guesswork and losing.
WHEN TO CLOSE A TRADE
After you start actual trading, when you make a trade, don't close it or take profits until you
have a definite indication, according to the rules that it is time to sell out or buy in or to move
up the stop loss order and wait until it is caught. The way to make a success is to always
follow the trend and not get out or close a trade until the trend changes.
WHEN TO WAIT AND NOT TRADE
It is just as important to know when not to enter the market as it is to know when to enter it.
The time not to make a trade is when you find a stock has been holding in a narrow trading
range for some time, say, a 5-point or a 3-point range, but has not broken under bottoms
previously made or crossed tops previously made. A stock may stay for weeks or months or
even years in a trading range and will not indicate any big move or change in trend until it
crosses as a previous top or breaks a previous bottom. After a prolonged decline stocks
nearly always narrow down and hold in a trading range for some time. If a stock is inactive in
this position, it is no time to start trading in it.
FOLLOW ALL RULES
Remember, follow all rules; check and double check; study the major and minor cycles for
forecasting; watch closely the Resistance Levels; study the different Formations and bottoms
and tops and between bottoms and tops. If you ignore one important point, it may get you in
wrong. The whole can never exceed all its parts and all the parts make up the whole. If you
leave out one of the rules, you will not have a complete forecasting method or trend indicator.
Your success with the method depends upon you doing your part, studying and learning how
to apply the rules and not mixing any inside or outside information or reasoning against the
mathematical indications. No man ever made a success at anything who did not work hard. I
have done my part, and it is now up to you to do yours. |
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发表于 2009-5-11 17:26:35
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发表于 2009-5-11 22:45:16
发表于 2009-5-12 21:16:21
