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9 ]0 N2 [7 z8 e' D& Z2.译文乃初稿，未校稿，仅供参考！1 g( f- ?1 x% I2 }2 s6 [9 n& ~
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HOW TO TRADE$ M" b$ K9 Y; l* K& \
After you have thoroughly mastered all of the lessons, be sure you are right before you make
/ n7 Q s" C4 l& ^& Pa trade. Never guess. Trade on mathematical indications only. c' t9 Q$ P5 w# D" J1 \$ y- S
+ J: w( \2 S7 A# k8 kWHAT YOU MUST KNOW BEFORE YOU START TRADING
. u J; h: p! N. XYou must know exactly how to apply all the rules. You must know where to place a stop loss . z0 [1 |0 P& c" s6 S- ]0 z8 a
order and must look up what cycle the year is in, that is, whether it is a bull or bear year,
8 r* ], Z; t8 x: |4 ]. ?1 l9 xwhether the main trend should be up or down.1 S6 j7 O0 I% ?* D
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Before you make a trade, either buying or selling, consider the position of each individual ! c" H/ m5 ? j0 C# p$ W6 y. e
stock on the monthly chart; next consider the weekly chart and then the daily chart. If they all * L5 ?7 X! ?8 [
confirm an uptrend, it is a cinch to buy, provided you have located the point at which to place
% l1 a, B+ ?& t+ p- Na stop loss order. On the other hand, if the cycle shows that it is a bear year and the monthly,
G' l# f) L! z$ }# E# uweekly and daily chart show down trend, then it is the time to go short, but again, you must . X- C* b2 H* L$ T4 g, l) ]% `1 G
look for the most important point ... where to place the stop loss order so that it will not be + s$ A2 U6 x" H
more than 3 points away and closer if possible.
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WHAT TO LOOK UP BEFORE YOU MAKE TRADE3 S+ w" p* R" m1 R, O
Following are the most important points that you must consider before buying or selling a
; i0 f. `" i+ ]- Qstock:: j2 g1 F1 U5 g
1. TIME CYCLE ... whether Bull or Bear year, and whether main trend of the general " D% q) u+ @4 i2 }5 a) k& K0 x
market is up or down.
6 N5 S+ n u4 b0 f: V2. CYCLE OF INDIVIDUAL STOCK … whether up or down year.# s" @6 ^1 {* y6 c
3. MONTHLY position on TIME PERIODS from tops and bottoms.0 p, t" e9 d4 V& _
4. WEEKLY position on TIME PERIODS from tops and bottoms.
( z! k4 H: ]3 ], B" r. `: e5. RESISTANCE LEVELS ... see whether the stock is near any half-way point or other ' N/ H s$ z" T* o7 ?. n5 \
points of support or resistance.% o- G4 _' I$ S) G; h9 i
6. Study all FORMATIONS. If a stock has held for several days, weeks or months around
s$ B2 A) ^& a* Hthe same level, determine whether it is about ready to cross tops or break bottoms.
7 |& O* B& }- e! I7 Y7. Look up VOLUME OF SALES. See whether a stock has increased or decreased Volume ! T- p9 Y# p }3 O8 Z% J% u+ |
over past few days or weeks.- I# Y/ Y% I- S( ?
8. Look up SPACE or price movements from previous tops and bottoms and find out the % d8 p7 [2 W0 f- }
greatest advance or decline for past few weeks or months. Example: If a stock has
* Z, E1 Q8 h9 e" J Nreacted 5 points several times and at the time you look it up, if you find it is 3 points
8 n! y# o, \3 v% X2 Ndown from the last top and the trend is up on monthly, weekly and daily with the price
& u, N) R8 z! \/ D& ]near a support point, you could buy with a stop loss order 2 to 3 points away. If the stock ) r- P, p& k- U2 W9 F
should break back over 5 points, the previous reaction limit, it would show a change in
: O$ s! \: H8 S. A! U! Z+ b- e) B; [trend and you should go short of it.
- o' s I9 S' ?" p" H9. Never overlook the fact that you must have a definite indication before making a trade.! F- i! C* A: o
10. Most important of all ... always locate the point at which to place a stop loss order to
, @* ~' c( @) a" E& alimit risk.
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' r3 y; T& G- `. t4 U4 ^. @+ D" qPRACTICE TRADING ON PAPER
2 c: P' D( k8 B7 ?- u( ^8 gAfter you feel sure that you have mastered all the rules and know exactly how to determine * \2 d! A0 l% x! p) r9 D3 T
the trend of a stock and the place to begin trading, then to make yourself doubly sure and
3 |9 h. T6 R- h' Cestablish confidence, practice trading on paper and till you thoroughly understand how to use ; n) a6 q* X/ J q4 F) k, K4 c
the rules and when to use them. If you make mistakes trading on paper, then you would make
4 ` F2 \1 o( V: h7 Tmistakes at the time in actual trading and you are not ready to begin trading. When you feel
8 n5 n }& u! jthat you are competent to start trading, apply all of the rules and TRADE ONLY ON
6 h9 U& `7 _) {9 d B: g H4 IDEFINITE INDICATIONS. If you are not sure of the trend or the buying and selling price
3 M: o/ ]( O5 p/ o' Sand not sure where to place a stop loss order, then wait until you get a definite indication. 7 W1 J( h" P! K3 H3 E
You can always make money by waiting for opportunities. There is no use getting in partly
- B/ B1 v. \' r$ U: }; @. aon guesswork and losing.
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WHEN TO CLOSE A TRADE( B- q- ~) a+ H/ q
After you start actual trading, when you make a trade, don't close it or take profits until you 4 [; j% s" t* q3 l
have a definite indication, according to the rules that it is time to sell out or buy in or to move 3 i" G, u- s# X6 P# l, e& v |; k
up the stop loss order and wait until it is caught. The way to make a success is to always 4 H$ _: v5 |$ E, m. n9 q! I
follow the trend and not get out or close a trade until the trend changes.
. l1 Y2 ~) r$ d0 W8 j% D7 @' ~7 |! {9 l6 U; V
WHEN TO WAIT AND NOT TRADE
% C. K( J5 t+ b2 n1 ^It is just as important to know when not to enter the market as it is to know when to enter it.
5 _# h' v; s. P* E* {0 BThe time not to make a trade is when you find a stock has been holding in a narrow trading
* k; V& I5 ^% M. d$ qrange for some time, say, a 5-point or a 3-point range, but has not broken under bottoms $ q9 v% m# F& f. B4 m- W
previously made or crossed tops previously made. A stock may stay for weeks or months or
) I$ e$ A+ V6 V2 {9 N4 E3 Aeven years in a trading range and will not indicate any big move or change in trend until it ) f; {! ]& A/ C* F$ x$ W
crosses as a previous top or breaks a previous bottom. After a prolonged decline stocks " G# _8 M( _* t) ?
nearly always narrow down and hold in a trading range for some time. If a stock is inactive in
) Z: {- Y ~9 T; }" gthis position, it is no time to start trading in it.
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FOLLOW ALL RULES
: c; R3 z+ c" }Remember, follow all rules; check and double check; study the major and minor cycles for 8 R, L! I2 T; Q) I+ W+ R' u* f
forecasting; watch closely the Resistance Levels; study the different Formations and bottoms
# }5 }2 |( z9 W+ T4 hand tops and between bottoms and tops. If you ignore one important point, it may get you in
! i5 m& x" T. `2 Y& t4 o- twrong. The whole can never exceed all its parts and all the parts make up the whole. If you
2 p8 z! ~+ H2 zleave out one of the rules, you will not have a complete forecasting method or trend indicator.
9 y& k( p" o- pYour success with the method depends upon you doing your part, studying and learning how ! K3 F- K g& L1 e: P, f
to apply the rules and not mixing any inside or outside information or reasoning against the
5 i! Z L* L$ Y4 T6 Kmathematical indications. No man ever made a success at anything who did not work hard. I & A f2 @3 O' e4 {3 s
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
