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& O" `5 m2 O/ i+ ?------------------------------------------------------------------------5 A5 o4 k. X/ Z
HOW TO TRADE( y& R w# n4 n" y
After you have thoroughly mastered all of the lessons, be sure you are right before you make
% d `- U" {$ k7 N4 y ra trade. Never guess. Trade on mathematical indications only./ n5 }3 B) {+ o+ q& Z- L3 X1 Q" P) o
9 b4 s3 V2 `+ g: G4 [! e" S b% ?
WHAT YOU MUST KNOW BEFORE YOU START TRADING
1 O, q6 k( b7 U+ E5 s. }/ ~You must know exactly how to apply all the rules. You must know where to place a stop loss
4 u% l& m( V: u% ^2 Z( Qorder and must look up what cycle the year is in, that is, whether it is a bull or bear year,
4 R7 \2 l, z( |/ swhether the main trend should be up or down.
2 z# I8 F& A$ U
; X& c" E _/ T5 F8 D9 uBefore you make a trade, either buying or selling, consider the position of each individual / N; q" c8 Z: x7 s, d7 ]
stock on the monthly chart; next consider the weekly chart and then the daily chart. If they all ! U9 k( K. w. s
confirm an uptrend, it is a cinch to buy, provided you have located the point at which to place 7 E) T b( Y; p0 _$ S
a stop loss order. On the other hand, if the cycle shows that it is a bear year and the monthly, 7 `$ R7 E+ ]) x" S, Y1 d
weekly and daily chart show down trend, then it is the time to go short, but again, you must 8 Y% ^1 M u" W8 J
look for the most important point ... where to place the stop loss order so that it will not be ; J" ]9 B" Y& W5 S' V6 Y) _$ ~
more than 3 points away and closer if possible." j5 L% X6 N+ f6 E% c& V
6 j1 S: J# }# ?) L1 N. f5 Q3 ~
WHAT TO LOOK UP BEFORE YOU MAKE TRADE
4 K* b- G z% I& B: T3 ZFollowing are the most important points that you must consider before buying or selling a
1 ?$ p/ b: s6 P% Y9 q. G0 w8 ^stock:
! N n0 b5 O7 D) q% _. Q1. TIME CYCLE ... whether Bull or Bear year, and whether main trend of the general
& U4 g m w4 D/ O5 y+ B x1 h/ Bmarket is up or down.
W, H$ B+ J/ U. E# h; h2. CYCLE OF INDIVIDUAL STOCK … whether up or down year.
. q$ y+ ^7 o4 K3. MONTHLY position on TIME PERIODS from tops and bottoms.
U# N" Q. W" m6 y! \. M4. WEEKLY position on TIME PERIODS from tops and bottoms.
6 @6 v$ a E: ^5. RESISTANCE LEVELS ... see whether the stock is near any half-way point or other ( c2 ^; T3 b. l' I9 E8 U
points of support or resistance.1 o& f5 ~3 |2 v5 p% Q
6. Study all FORMATIONS. If a stock has held for several days, weeks or months around
& c! h# z4 W2 K: R# P" q- Jthe same level, determine whether it is about ready to cross tops or break bottoms.
# \2 x% d9 S3 _0 M; w7 |9 P7. Look up VOLUME OF SALES. See whether a stock has increased or decreased Volume
5 z- ~* [9 ^6 a7 iover past few days or weeks.' X5 b- q; P& w. {8 ?
8. Look up SPACE or price movements from previous tops and bottoms and find out the / a/ x) d# q3 w
greatest advance or decline for past few weeks or months. Example: If a stock has # J9 g/ x! [# D4 {2 x
reacted 5 points several times and at the time you look it up, if you find it is 3 points 3 T- ]4 d; c9 b! z$ x( \ N' q
down from the last top and the trend is up on monthly, weekly and daily with the price
* O) v8 ~, A9 @# e( b9 nnear a support point, you could buy with a stop loss order 2 to 3 points away. If the stock ! X; s B7 J( l: u* ^
should break back over 5 points, the previous reaction limit, it would show a change in
7 o! c7 ^" g/ L# itrend and you should go short of it.) X4 A4 `/ _4 ]+ Z+ k
9. Never overlook the fact that you must have a definite indication before making a trade.5 w& }& h4 X& a0 ]) Q' H# M! o& [
10. Most important of all ... always locate the point at which to place a stop loss order to
2 E w2 j9 P. ?: k \- Ulimit risk.' o7 L; }& [- O' _* t- a0 e
: z- L5 p7 q& A
PRACTICE TRADING ON PAPER
& r" w# Z4 @& h6 K) S, K. GAfter you feel sure that you have mastered all the rules and know exactly how to determine " Q1 P3 O& [. X1 [
the trend of a stock and the place to begin trading, then to make yourself doubly sure and
# X6 ^7 c a1 ^5 _5 Zestablish confidence, practice trading on paper and till you thoroughly understand how to use
; ~- g" O- E2 M! s! j9 t9 hthe rules and when to use them. If you make mistakes trading on paper, then you would make 6 S. l% T. {" d& B1 Q" r
mistakes at the time in actual trading and you are not ready to begin trading. When you feel
5 N8 V7 A' `9 S7 D1 p0 A t+ uthat you are competent to start trading, apply all of the rules and TRADE ONLY ON : U5 w5 ]$ i. a. \
DEFINITE INDICATIONS. If you are not sure of the trend or the buying and selling price - q2 G1 m" F0 C8 U
and not sure where to place a stop loss order, then wait until you get a definite indication.
& b: r" ^ }9 k; fYou can always make money by waiting for opportunities. There is no use getting in partly
3 ?" R) T0 I/ r& Ton guesswork and losing.& m' V4 p. j: E% t% B( A' ]
% h* H( _1 p8 V0 H7 ^7 m
WHEN TO CLOSE A TRADE
( R+ E) M- T& x$ Z6 ~% b, R5 tAfter you start actual trading, when you make a trade, don't close it or take profits until you
+ L/ p- x; c' x: a8 @( I. shave a definite indication, according to the rules that it is time to sell out or buy in or to move 1 E7 F2 j6 f; H) b
up the stop loss order and wait until it is caught. The way to make a success is to always
- o/ {. ?& Y6 ?' i% v' t) \follow the trend and not get out or close a trade until the trend changes.( u5 Y6 M& f0 D) q
' U5 m3 B) I( }+ X0 e) ?
WHEN TO WAIT AND NOT TRADE
( [! E$ [9 C6 K" [2 E4 F+ jIt is just as important to know when not to enter the market as it is to know when to enter it.
* U' F$ d H, V7 O% y: EThe time not to make a trade is when you find a stock has been holding in a narrow trading # g `( K0 j: K- r3 }2 [2 J
range for some time, say, a 5-point or a 3-point range, but has not broken under bottoms ) Q+ c- ^0 T) ~9 ] P# O4 n
previously made or crossed tops previously made. A stock may stay for weeks or months or
2 D H; [9 O2 R/ k# K Eeven years in a trading range and will not indicate any big move or change in trend until it , ?5 H7 M$ | F% w% g
crosses as a previous top or breaks a previous bottom. After a prolonged decline stocks
' i( L) O I( T! `3 unearly always narrow down and hold in a trading range for some time. If a stock is inactive in
/ w1 P2 A l' L" p. Kthis position, it is no time to start trading in it.
* [( h" M3 ?& f0 s- G M$ r: x6 i
: y! n5 o& Y) m) t" G4 BFOLLOW ALL RULES4 X! w6 M! d* F; W- G
Remember, follow all rules; check and double check; study the major and minor cycles for 4 d; O z* e8 T1 I$ }5 Y; n
forecasting; watch closely the Resistance Levels; study the different Formations and bottoms
* a5 C: N( l2 d* nand tops and between bottoms and tops. If you ignore one important point, it may get you in 8 u1 b/ e- w8 d( }* v2 j; I
wrong. The whole can never exceed all its parts and all the parts make up the whole. If you
9 C! X' j6 a' A6 B' yleave out one of the rules, you will not have a complete forecasting method or trend indicator. O' |" w& A% Q5 a
Your success with the method depends upon you doing your part, studying and learning how - I4 p1 s% H5 Z6 B
to apply the rules and not mixing any inside or outside information or reasoning against the 2 A# y: g6 s& n, T/ x8 P. X
mathematical indications. No man ever made a success at anything who did not work hard. I
& q3 M; p' R% M3 Xhave 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
