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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！# h' f5 q' I* m2 [/ z9 N% B! T
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HOW TO TRADE
$ m- x- H3 j% v1 X, m0 t7 Q3 U, |After you have thoroughly mastered all of the lessons, be sure you are right before you make
; o( q3 _% r+ M( La trade. Never guess. Trade on mathematical indications only.& t" o1 A$ ]8 H( n% m# I( G2 H
1 H! j$ O) ?$ WWHAT YOU MUST KNOW BEFORE YOU START TRADING
6 c5 S" `* Z2 y( R: s' KYou must know exactly how to apply all the rules. You must know where to place a stop loss `' h9 c& \- ~+ x4 ~
order and must look up what cycle the year is in, that is, whether it is a bull or bear year,
1 F& j( O0 K( N" a9 j, M3 _whether the main trend should be up or down.
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Before you make a trade, either buying or selling, consider the position of each individual
7 z! N$ X6 W( J1 u5 w! {stock on the monthly chart; next consider the weekly chart and then the daily chart. If they all ' [6 k. m/ n1 j* K" t/ ~+ A
confirm an uptrend, it is a cinch to buy, provided you have located the point at which to place 5 _) g8 ]1 d) W; R: d& [& j
a stop loss order. On the other hand, if the cycle shows that it is a bear year and the monthly, ( Z, t3 Z1 I0 a) F. w. R* p
weekly and daily chart show down trend, then it is the time to go short, but again, you must ( h9 s9 g$ C1 i' B# a9 b+ ~! E
look for the most important point ... where to place the stop loss order so that it will not be
. }# a& Y! G1 x3 s* zmore than 3 points away and closer if possible.
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WHAT TO LOOK UP BEFORE YOU MAKE TRADE
6 i( U k: \: J8 v7 X3 S& N: _; @Following are the most important points that you must consider before buying or selling a
6 X/ `0 J6 L9 r1 `4 E9 C4 S. q. R. R8 Cstock:4 g# g6 i, W- Y7 g. Y. K
1. TIME CYCLE ... whether Bull or Bear year, and whether main trend of the general % w; Z1 _: ]- H. V$ ]9 B
market is up or down.
/ H" `' |( D1 [8 z; O! |3 s2. CYCLE OF INDIVIDUAL STOCK … whether up or down year.& R. T& k; _# J/ Q
3. MONTHLY position on TIME PERIODS from tops and bottoms.
/ Q! a8 S. l* U& j4. WEEKLY position on TIME PERIODS from tops and bottoms.- F6 @! @5 L( X
5. RESISTANCE LEVELS ... see whether the stock is near any half-way point or other ! d; X3 N# ^: v! c
points of support or resistance.
; g' }0 w( f1 t6. Study all FORMATIONS. If a stock has held for several days, weeks or months around ! a. S7 C0 G. i' R9 z+ H! z
the same level, determine whether it is about ready to cross tops or break bottoms.
- Z ]# |1 R: w3 y# |- q% E7. Look up VOLUME OF SALES. See whether a stock has increased or decreased Volume 5 {8 P) N' Q* f; U4 \
over past few days or weeks.- |; s- }& Z5 {3 ~
8. Look up SPACE or price movements from previous tops and bottoms and find out the ; }: p! n6 C5 W1 C+ A
greatest advance or decline for past few weeks or months. Example: If a stock has 1 |* Y) u1 F2 v1 E7 X% T/ {
reacted 5 points several times and at the time you look it up, if you find it is 3 points
i1 \: H5 p- A3 h/ Qdown from the last top and the trend is up on monthly, weekly and daily with the price
8 b8 L; q$ N8 Y% jnear a support point, you could buy with a stop loss order 2 to 3 points away. If the stock
$ S# w) @$ N# \8 mshould break back over 5 points, the previous reaction limit, it would show a change in 8 I4 Y+ L7 p5 w q. d6 b$ o
trend and you should go short of it./ Z/ |! b: R. u8 b B# K, h: a
9. Never overlook the fact that you must have a definite indication before making a trade.3 H0 c5 S0 [5 S( T* W6 K
10. Most important of all ... always locate the point at which to place a stop loss order to
- [, `& Y8 a4 f4 |2 Ilimit risk.
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+ B$ W c! t$ O% \) wPRACTICE TRADING ON PAPER7 { X: B7 o/ F( Y& g9 ? D! a* m- g1 ~
After you feel sure that you have mastered all the rules and know exactly how to determine ; r( z( S8 b9 t* }
the trend of a stock and the place to begin trading, then to make yourself doubly sure and $ E4 Y) ~ _) n
establish confidence, practice trading on paper and till you thoroughly understand how to use % z; E; e2 ^- u$ k# J
the rules and when to use them. If you make mistakes trading on paper, then you would make
. H" y, P. h4 K3 gmistakes at the time in actual trading and you are not ready to begin trading. When you feel
7 K" f1 r5 x( R% _0 U: ethat you are competent to start trading, apply all of the rules and TRADE ONLY ON 9 i& ?3 F: [" K
DEFINITE INDICATIONS. If you are not sure of the trend or the buying and selling price
% ~+ d" t, d) n: B8 l3 Q2 A6 l3 land not sure where to place a stop loss order, then wait until you get a definite indication. ! ^) { k) z$ e) O9 U& E9 ?4 @
You can always make money by waiting for opportunities. There is no use getting in partly
& u; `3 d/ l) lon guesswork and losing.
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2 ?* x6 c4 p/ J" p$ |4 P' H7 v( X. EWHEN TO CLOSE A TRADE9 s# O, J; g$ N$ L
After you start actual trading, when you make a trade, don't close it or take profits until you 1 @4 z0 E1 C2 N% \6 L" D: F' p
have a definite indication, according to the rules that it is time to sell out or buy in or to move . i" w6 |) C' R3 S- m. v
up the stop loss order and wait until it is caught. The way to make a success is to always
2 o2 }/ z2 E/ h$ T, U X% D- e+ `follow the trend and not get out or close a trade until the trend changes.$ `! y& U* W G! X& N4 |0 D
/ n& i/ ^4 I6 T8 F g, `% n$ {5 x0 LWHEN TO WAIT AND NOT TRADE
$ d' J+ {: f' i* P$ w3 nIt is just as important to know when not to enter the market as it is to know when to enter it. # v. {9 \: r9 C/ h9 {2 R* c
The time not to make a trade is when you find a stock has been holding in a narrow trading
5 V. e% l9 b( p6 j9 ]range for some time, say, a 5-point or a 3-point range, but has not broken under bottoms 4 v4 s9 ~! N9 f- [. Q5 D& i
previously made or crossed tops previously made. A stock may stay for weeks or months or
/ o1 ^& w: J9 l8 |2 ]even years in a trading range and will not indicate any big move or change in trend until it
& Q b" f- g( T# W+ Q/ P, Vcrosses as a previous top or breaks a previous bottom. After a prolonged decline stocks 3 L+ J! ?6 k- @1 ?* C$ v, g
nearly always narrow down and hold in a trading range for some time. If a stock is inactive in " U9 U' y' ^) |& x# t/ S0 P3 R
this position, it is no time to start trading in it.9 @% B# u1 z' y* l: V
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FOLLOW ALL RULES/ s: [' `) A$ X( \% m- l; U
Remember, follow all rules; check and double check; study the major and minor cycles for
' \2 c ]$ ^6 `' h, ?) O1 Kforecasting; watch closely the Resistance Levels; study the different Formations and bottoms * |% f3 u0 g6 E: r6 C7 u9 q
and tops and between bottoms and tops. If you ignore one important point, it may get you in " \. r, `1 j# T, T' Y
wrong. The whole can never exceed all its parts and all the parts make up the whole. If you 9 N, m$ @. f- U! \& h9 F
leave out one of the rules, you will not have a complete forecasting method or trend indicator.8 u& ?( h1 v& r: k: }! n
Your success with the method depends upon you doing your part, studying and learning how
* w# Q# X# v6 W3 ?( Tto apply the rules and not mixing any inside or outside information or reasoning against the 3 `9 p. s+ Z6 x4 w. u) h1 k9 s
mathematical indications. No man ever made a success at anything who did not work hard. I 4 h: H4 X. @4 ?3 Z! M, c
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
