江恩如是说（5）——如何交易

甘恩

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1.首发。转载请注明出处——阳光飞狐/江恩理论；当然还有译者。谢谢！
5 x5 T! I+ B; `2 q) V  q; _2.译文乃初稿，未校稿，仅供参考！
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8 b# C) O, H+ X1 \8 Z' Z* h7 s7 ]HOW TO TRADE
After you have thoroughly mastered all of the lessons, be sure you are right before you make
8 f8 l1 @1 e0 R$ Ma 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
! |  x' U$ d5 m% l" @' border  and must  look up what  cycle  the year  is  in,  that  is, whether  it  is  a bull or bear year,
6 C9 E3 M9 P0 w4 nwhether the main trend should be up or down.
2 ?9 L& z1 I+ }) T. j+ O
Before  you make  a  trade,  either  buying  or  selling,  consider  the  position  of  each  individual
3 g3 x' C# c" D+ L  dstock on the monthly chart; next consider the weekly chart and then the daily chart.  If they all
: Z3 V) Q  o* B, Wconfirm 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,
$ [' b1 Y! F6 x8 L! d. i" k! Oweekly 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
( u+ M1 G' V/ L# C/ d( Imore than 3 points away and closer if possible.

* X$ l' s' u. A$ m0 K2 @3 cWHAT TO LOOK UP BEFORE YOU MAKE TRADE
9 P3 b% i1 |) K5 E/ ]( f6 ]- UFollowing  are  the most  important points  that  you must  consider  before  buying  or  selling  a
' U$ z2 p/ d1 o1 W- v; cstock:
1. TIME  CYCLE  ... whether  Bull  or  Bear  year,  and whether main  trend  of  the  general
market is up or down.
+ z' b* p( k2 z2. CYCLE OF INDIVIDUAL STOCK … whether up or down year.
3. MONTHLY position on TIME PERIODS from tops and bottoms.
2 q# p- I5 \& W2 }, q  N4. WEEKLY position on TIME PERIODS from tops and bottoms.
- c, {+ n1 V$ c2 x- k. t5. RESISTANCE LEVELS  ...  see whether  the  stock  is  near  any  half-way  point  or  other
# n  r( I! L1 j4 j. ]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.
8 X+ ?' P5 [2 z" `/ f7 Z7. 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
% D9 h: G1 j0 v5 Y5 m& tdown from  the last  top and  the  trend  is up on monthly, weekly and daily with  the price
0 \& ]1 c6 l; k. Q" R$ L0 ^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.
% E2 R* {  d7 n" n7 V10. Most  important of  all  ... always  locate  the point  at which  to place  a  stop  loss order  to
limit risk.

" [& x  I3 ?8 n$ x  g. @) k6 P7 k8 q( pPRACTICE TRADING ON PAPER
After you feel sure  that you have mastered all  the rules and know exactly how  to determine
. I: n, T, s1 f- F' i  ethe  trend  of  a  stock  and  the  place  to  begin  trading,  then  to make  yourself  doubly  sure  and
/ A7 Z2 T( E1 B7 e4 ?" Nestablish 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
  d+ x- Y* J+ D1 C2 r( bmistakes at the time in actual trading and you are not ready to begin trading.  When you feel
# o4 c3 s' a; E5 Y' Athat  you  are  competent  to  start  trading,  apply  all  of  the  rules  and  TRADE  ONLY  ON
1 g/ n$ X$ H: I1 D" X$ dDEFINITE  INDICATIONS.   If you are not sure of  the  trend or  the buying and selling price
* ~  W9 @2 {+ Z+ G' h7 U1 D0 V- xand not  sure where  to place  a  stop  loss order,  then wait until you get  a definite  indication.  
* ~( s% _# L& r. q& n  FYou can always make money by waiting for opportunities.   There is no use getting in partly
. G) _, {0 X+ don guesswork and losing.
% o9 m  j' Y. w- u+ i0 S* Q
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
' p' q: N' _7 x& C- X# n6 K* ^* Dup  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.

4 U* {) Q. ?0 |. y$ xWHEN 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.  
  t0 ?* B+ R; t* }/ rThe  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  
, T3 A7 X' ~- n  {' M3 D$ wpreviously made or crossed tops previously made.  A stock may stay for weeks or months or
% W1 T8 h: w; e/ \. K$ }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.
: S3 y5 B6 S8 l$ I! C" L9 W1 I, X
' q6 N7 E/ |! F: G7 BFOLLOW ALL RULES
" j: o4 \+ i6 V4 t& @5 ^1 Q/ mRemember,  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
2 c% ?) n- d, N! cand tops and between bottoms and tops.  If you ignore one important point, it may get you in
: Z) V# K! `1 O, z& kwrong.  The whole can never exceed all its parts and all the parts make up the whole.  If you
0 a9 c9 N0 D/ d; ~* bleave out one of the rules, you will not have a complete forecasting method or trend indicator.
5 p, ?. w* z* DYour success with the method depends upon you doing your part, studying and learning how
5 r1 o" p( q8 f) @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
5 H6 G' T  q6 S+ Uhave done my part, and it is now up to you to do yours.

甘恩

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甘恩

原帖由 WHSH 于 2009-5-11 17:30 发表
先生

# b  I3 j8 C. T* \8 ~1 r: a

wushilu

谢谢先生

Panther

名言就像好茶，可以经常拿出来品。

天际雪飘

波浪为王

名言就像好茶，可以经常拿出来品。

anyway

谢谢

zlmm

辛苦了

xxxyyy

cz777

new79man

谢谢楼主分享。

时价量形

kang21324

axcqy

谢谢楼主分享

飘漂尧光

谢谢，楼主分享！

xiong7203

mzyma1355

“Remember,  follow all  rules; check and double check;  study  the major and minor  cycles  for
8 w+ S  ^& A  t5 Z: r% hforecasting; 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. ”

4 I- B  M9 C$ v/ `6 y

“记紧，跟随所有规则；检查再检查；研究大小周期以作预测，看紧阻力水平；观察市场的顶部及底部之形态，及顶底之间的形态。若有任何遗漏，将陷你于错误之中。”——来自《江恩理论——浸润走势分析》P257

感谢甘兄立此帖！！！
4 O2 y# Q  z/ z6 _: ?
( N* O8 R# t$ D' j$ R4 T: b

newcef

正吖，支持~

caihua58

感谢甘兄！！！

喧暄

非常感谢甘恩！

股为金用

谢谢楼主！

shdw

谢谢楼主！

tts073

谢谢

lg222

& F3 h# I2 K, r; H% \( g谢谢!

jqbudd

谢谢无私分享

wyhy

谢谢甘恩兄。

gannfanns

很好的教程，谢谢！！