12 and 24 rules

logoslogos · 发表于 2009-3-14 10:54:48

The 12 rules:
         01. Determine the trend 02. Buy at single, double and triple bottoms
         03. Buy
         and sell on percentages 04. Buy and sell on three weeks' advance or
         decline 05.
         Market moves in sections06. Buy or sell on five to seven point moves
         07. Study
         volume to determine change in trend 08. Study

factor and

         periods to
         determine change in trend 09. Buy on higher tops and bottoms10. A
         change in
         trend often occurs just before or after holidays 11. Buy on a second
         reaction
         at a higher bottom. When it reacts only two days, it is in a very
         strong
         position. 12. Price gains in fast moves doesˇnt last very long.

         Gann's 24 rules
         2007/11/27 09:59
         The 24 rules: 01. Never risk one tenth of capital in one trade 02.
         Always use stop loss orders 03. Never overtrade 04. Never let a
         profit run into
         a loss 05. Do not buck the trend 06. When in

, get our or donˇt
         get in 07.
         Trade only active stocks 08. Equal distribution of risk in four or
         five stocks
         09. Trade market order 10. Donˇt close your trades without a good
         reason 11.
         Accumulate a surplus 12. Never buy just to get a dividend 13. Never
         average a
         loss 14. Never get out/in of the market because of impatience or
         anxiety 15.
         Avoid taking small profits and big losses 16. Never cancel a stop
         loss order
         after you placed it 17. Avoid getting in and out of the market too
         often 18. Be
         just as willing to sell short as you are to buy. Let your object be
         to keep
         with the trend and make money 19. Never buy/sell just because the
         price is
         low/high20. Wait till the stock is very active and has crossed
         resistance
         levels before pyramiding 21. Select stocks with small volume of
         shares
         outstanding to pyramid on the buying side 22. Never hedge one stock
         by
         another23. Trade with a plan and do not get out without a definite
         indication
         of a change in trend 24. Avoid increasing trading size after a long
         period of
         success

         Read his "romance" novel "Tunnel Thru The Air or Looking
         Back from 1940" published in 1927. Gann said "Kowledge is more
         important (powerful) than capital" and "Verify EVERYTHING and hold
         on to true and good!".

logoslogos · 发表于 2009-3-14 11:15:39

親愛的朋友：

你喜歡投資市場嗎？你對投資有熱情嗎？當我21歲開始接觸投資市場時，我就知道這是我這輩子最有興趣的領域。因為喜歡，所以有熱情；因為充滿熱情，所以我花很多時間在做研究，研究競爭對手、研究市場資訊、研究所有可能影響投資結果的因素。

找到熱情所在，就找得到機會。所以每個人都要問問自己：最喜歡的領域是什麼？如果喜歡園藝，就應該去當園藝家；喜歡當律師，就朝這個方向努力前進。不要管別人怎麼說，也不論有多少人反對，反正只要是自己喜歡的，就去追尋，這樣就會成功。

我強調「專注」，在做投資決策前，必定要做很多功課，也因此我並不贊同教課書上所說的「多元投資」。看看全世界所有有錢人的故事，哪一個不是「聚焦投資」而有的成果？

投資成功致富是來自事前努力的做功課，因為做足了功課，了解投資的產品價格被低估才買進，所以風險已經降到最低。並不是分散投資就叫做低風險，如果你對於所投資的市場、股票不熟悉，只是把雞蛋分別放在不同的籃子裡，這絕對不是低風險的投資，誰說只有一個籃子會掉在地上？

就好比有人認為分散投資於50家公司，一定比投資於5家公司的風險低。但是是這樣嗎？你不可能完全掌握50家公司的詳細狀況，相對來說，如果只集中投資在5家公司，就可以做比較仔細的研究。所以說，5顆雞蛋放在一個相當穩固、安全的袋子，一定比放在50個不牢固的袋子要好得太多了。

尤其我並不是一個喜歡冒險的人，相反地，我討厭冒險，就是因為這樣，所以我才要做很多功課。成功投資者的方法，通常是什麼也不做，一直到看到錢放在那裡，才走過去把錢撿起來。所以除非東西便宜、除非看到好轉的跡象，否則不買進。當然買進的機會很少，一生中不會有多少次看到錢放在那裡。

logoslogos · 发表于 2009-3-14 11:16:14

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12 and 24 rules

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