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) D1 K4 R' h) r! DHOW TO TRADE* U7 L6 D% b, P0 x6 \1 U& q
After you have thoroughly mastered all of the lessons, be sure you are right before you make ( z( ~+ h" D! x9 m( q
a trade. Never guess. Trade on mathematical indications only.; d% c4 P& L+ k1 @4 ^/ E
/ F9 [& w6 v) t4 x( h" mWHAT YOU MUST KNOW BEFORE YOU START TRADING) l" _8 j4 }, X& U
You must know exactly how to apply all the rules. You must know where to place a stop loss
/ |( ^2 r- \) I- u6 a. oorder and must look up what cycle the year is in, that is, whether it is a bull or bear year, ' o$ s8 G# w) j
whether the main trend should be up or down.$ c+ R: k0 o% u! p0 W; V% U
' f4 `5 @. {+ _; x# QBefore you make a trade, either buying or selling, consider the position of each individual & m$ b4 D1 W7 w1 p
stock on the monthly chart; next consider the weekly chart and then the daily chart. If they all
" K, ?1 R) t6 \% R$ rconfirm an uptrend, it is a cinch to buy, provided you have located the point at which to place : [1 h1 H# @$ M5 ~* R$ a$ J' E
a stop loss order. On the other hand, if the cycle shows that it is a bear year and the monthly, + ]7 n) A5 p* n( `* _& M
weekly and daily chart show down trend, then it is the time to go short, but again, you must
* g2 H. a( W( J5 i+ `look for the most important point ... where to place the stop loss order so that it will not be
) [( i( {( {; p6 r% h( k- Hmore than 3 points away and closer if possible.
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WHAT TO LOOK UP BEFORE YOU MAKE TRADE& V" E5 |, N, g% S$ A
Following are the most important points that you must consider before buying or selling a , T- f7 L" q' Q- ^4 l
stock:, B; M' i% ]& z
1. TIME CYCLE ... whether Bull or Bear year, and whether main trend of the general
. q+ O Q! @/ v6 x. a' Vmarket is up or down.
( \/ |7 c, I8 k& w2. CYCLE OF INDIVIDUAL STOCK … whether up or down year.& [: v4 w$ y* y4 D; u+ O% p
3. MONTHLY position on TIME PERIODS from tops and bottoms.7 p% B1 P; P, }! P6 p9 X8 |' }6 N
4. WEEKLY position on TIME PERIODS from tops and bottoms.$ B9 i6 c/ B6 `% y$ g0 V' u
5. RESISTANCE LEVELS ... see whether the stock is near any half-way point or other ; n) ^8 d. k3 P0 x/ o) V( K! E# r! u) L- `
points of support or resistance./ k: B2 \2 C# I& r& N
6. Study all FORMATIONS. If a stock has held for several days, weeks or months around
; `- `6 u# C# @2 Z6 zthe same level, determine whether it is about ready to cross tops or break bottoms.
6 t+ \6 e- L3 W2 C$ Z$ e% u7. Look up VOLUME OF SALES. See whether a stock has increased or decreased Volume
% M% [8 ^: d( t% G0 Eover past few days or weeks.) ?% r1 Z. y7 ?" o: M& N
8. Look up SPACE or price movements from previous tops and bottoms and find out the 9 `( c6 v1 j, U/ N* N9 a* k& w' h
greatest advance or decline for past few weeks or months. Example: If a stock has
9 R0 x, l; d; f$ e9 q: Lreacted 5 points several times and at the time you look it up, if you find it is 3 points $ h* H6 D, y7 V2 R8 a$ `" |
down from the last top and the trend is up on monthly, weekly and daily with the price 6 V% ?9 a) A5 h0 O& _1 v: Y
near a support point, you could buy with a stop loss order 2 to 3 points away. If the stock 4 M; @% l5 h1 |
should break back over 5 points, the previous reaction limit, it would show a change in
2 n; a, c$ p, a" p9 H8 i7 Wtrend and you should go short of it.& \/ P' z# E0 F, U r$ Z0 h; C
9. Never overlook the fact that you must have a definite indication before making a trade.
) Y$ J; Q7 Y+ ]! |, @10. Most important of all ... always locate the point at which to place a stop loss order to
. e% ^* O, ?0 n5 S# K9 jlimit risk.
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7 c# a/ O' x4 t4 ^+ c1 z& p! _PRACTICE TRADING ON PAPER8 }% E! [- `) D/ p0 N
After you feel sure that you have mastered all the rules and know exactly how to determine ! r( P) Z6 k6 G
the trend of a stock and the place to begin trading, then to make yourself doubly sure and
$ _8 T5 ]" [1 v/ Nestablish confidence, practice trading on paper and till you thoroughly understand how to use % T: y( c9 a0 X& \- M1 B% P
the rules and when to use them. If you make mistakes trading on paper, then you would make 1 W( f" d* Z1 C) B+ o {
mistakes at the time in actual trading and you are not ready to begin trading. When you feel
+ K' |0 ]/ i- J* e$ q! Kthat you are competent to start trading, apply all of the rules and TRADE ONLY ON 1 y2 J: }# D# o1 t2 [ @' Z
DEFINITE INDICATIONS. If you are not sure of the trend or the buying and selling price
" p: r; t2 j+ J) v8 Tand not sure where to place a stop loss order, then wait until you get a definite indication. & |( n4 a* {# M; Y
You can always make money by waiting for opportunities. There is no use getting in partly ; n. h1 ~: p4 ?9 l
on guesswork and losing.
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+ a2 n4 O% y; ZWHEN TO CLOSE A TRADE+ P6 l5 H5 V- O$ R3 h
After you start actual trading, when you make a trade, don't close it or take profits until you $ W3 p Q( _7 S: l. U& }
have a definite indication, according to the rules that it is time to sell out or buy in or to move " _) g6 ?, Q6 X; V
up the stop loss order and wait until it is caught. The way to make a success is to always 6 h7 [4 q3 Y" _0 E( T
follow the trend and not get out or close a trade until the trend changes., y! L0 ^: `6 m( i2 J0 Y% ^+ Y4 v
! I& A5 m6 x8 fWHEN TO WAIT AND NOT TRADE
8 e: }" c% ?- ^6 q! VIt is just as important to know when not to enter the market as it is to know when to enter it.
' w8 |, s* Q/ U# Q& xThe time not to make a trade is when you find a stock has been holding in a narrow trading
0 Q4 W& w8 W3 C# |6 H2 M' Vrange for some time, say, a 5-point or a 3-point range, but has not broken under bottoms # I7 Y7 y- E' Q- I
previously made or crossed tops previously made. A stock may stay for weeks or months or
6 w: a% W* V" ^& M/ Weven years in a trading range and will not indicate any big move or change in trend until it
; u, Z) L8 m7 j/ B8 [: N+ g8 hcrosses as a previous top or breaks a previous bottom. After a prolonged decline stocks
2 D) x, P ]) B' f5 Vnearly always narrow down and hold in a trading range for some time. If a stock is inactive in / @, i0 }% |" J4 [1 l
this position, it is no time to start trading in it.
+ @% B ~+ I4 v& O8 {) ]8 D& o% k
FOLLOW ALL RULES
$ ]5 i( S7 H9 B7 G ]3 Z4 V9 WRemember, follow all rules; check and double check; study the major and minor cycles for . B8 |4 l9 t: B
forecasting; watch closely the Resistance Levels; study the different Formations and bottoms
0 `1 d7 J; O) e+ \( W: Rand tops and between bottoms and tops. If you ignore one important point, it may get you in , @0 A( v7 Z" Z$ r( U, [
wrong. The whole can never exceed all its parts and all the parts make up the whole. If you ; ^7 R) l% @, x: k7 l2 K
leave out one of the rules, you will not have a complete forecasting method or trend indicator.
% E% k( e8 R* q7 H6 Y2 XYour success with the method depends upon you doing your part, studying and learning how
( y+ M" l3 b. W8 Kto apply the rules and not mixing any inside or outside information or reasoning against the ) o) V. e2 L9 J! A, K% D
mathematical indications. No man ever made a success at anything who did not work hard. I
: p( j, T0 R$ Ghave 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
