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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！
+ T0 p, m- K% A( A" N/ ?/ a2.译文乃初稿，未校稿，仅供参考！" O, i/ _& P9 O& l
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2 O) O' \9 M. q$ Y' Q& ^9 YHOW TO TRADE% b5 ^7 E. ?, g" f# j
After you have thoroughly mastered all of the lessons, be sure you are right before you make 7 ]- m9 }7 c @: w- D! _, U
a trade. Never guess. Trade on mathematical indications only.' G9 Y! E; `$ T5 \
7 G; j q5 e/ e) A5 p3 Q1 B
WHAT YOU MUST KNOW BEFORE YOU START TRADING
( h$ J# E$ y) W3 P. e2 m* [! i) xYou must know exactly how to apply all the rules. You must know where to place a stop loss " \0 ^, r8 w" }1 h' M g
order and must look up what cycle the year is in, that is, whether it is a bull or bear year,
% I. W `* |+ M- Pwhether 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 6 f; ^! t* \& e4 l: y3 `/ j
stock on the monthly chart; next consider the weekly chart and then the daily chart. If they all : d$ D( M, J8 G# L
confirm an uptrend, it is a cinch to buy, provided you have located the point at which to place
$ [% U9 V, K% U" L) L- ?7 u; Ua stop loss order. On the other hand, if the cycle shows that it is a bear year and the monthly,
8 |6 y+ H( g0 Fweekly and daily chart show down trend, then it is the time to go short, but again, you must
k1 x4 g* \ \4 l% P) Olook for the most important point ... where to place the stop loss order so that it will not be 8 e# s5 C/ w) y7 v, d1 h
more than 3 points away and closer if possible.
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1 n# ]. {8 E- }- ~; I5 MWHAT TO LOOK UP BEFORE YOU MAKE TRADE
% m3 ]& C3 j) v' X/ x. ^$ rFollowing are the most important points that you must consider before buying or selling a 6 z" h# h, c6 r
stock:
5 K/ {2 U2 L+ Q& X( N5 ]1. TIME CYCLE ... whether Bull or Bear year, and whether main trend of the general
. c/ m0 m% H/ g, r& ^market is up or down.
: D# S/ N% r6 q8 }. c9 Z- F2. CYCLE OF INDIVIDUAL STOCK … whether up or down year.# A7 m" T$ r8 H# F: Z! e
3. MONTHLY position on TIME PERIODS from tops and bottoms.
$ p$ S; v2 T0 y1 r. {, v; C& s4. WEEKLY position on TIME PERIODS from tops and bottoms.6 F2 m C# a% p
5. RESISTANCE LEVELS ... see whether the stock is near any half-way point or other ! u2 w6 O! l |. Z" J, S
points of support or resistance.
& C ]) f w( J2 f8 o& |6 ?6. Study all FORMATIONS. If a stock has held for several days, weeks or months around 3 W( e8 K! T3 t$ b
the same level, determine whether it is about ready to cross tops or break bottoms.- F4 ]* [( \# h% D
7. Look up VOLUME OF SALES. See whether a stock has increased or decreased Volume * N) p$ H1 x* h6 i
over past few days or weeks., ?5 h4 D% A2 y$ ?- f
8. Look up SPACE or price movements from previous tops and bottoms and find out the
! x, B* L0 V. }! Qgreatest advance or decline for past few weeks or months. Example: If a stock has 6 z! L. G( o2 I( i
reacted 5 points several times and at the time you look it up, if you find it is 3 points ?! I' J& Q' t& e5 I, F6 [' f
down from the last top and the trend is up on monthly, weekly and daily with the price 5 E/ {4 T& K4 D6 j/ B9 t8 S
near a support point, you could buy with a stop loss order 2 to 3 points away. If the stock
8 J) P" W9 }$ s7 J! zshould break back over 5 points, the previous reaction limit, it would show a change in , k' ~/ Q/ h/ U& O1 A
trend and you should go short of it.3 P( o1 y* m! c8 t
9. Never overlook the fact that you must have a definite indication before making a trade.
) L! V( Z0 s1 t' N5 `' f' `: a10. Most important of all ... always locate the point at which to place a stop loss order to 4 g( \# H+ S3 h5 J8 ^! O
limit risk.* N/ x5 Q9 |3 [2 a0 F9 k3 R
3 ^% C$ c2 p: l# `, _2 z/ ~PRACTICE TRADING ON PAPER
& i1 k0 Q" d* N: B& M, LAfter you feel sure that you have mastered all the rules and know exactly how to determine
4 T6 D. ?4 z! S" ?the trend of a stock and the place to begin trading, then to make yourself doubly sure and % T! Y1 \+ F8 S5 [9 a/ ?" b
establish confidence, practice trading on paper and till you thoroughly understand how to use
( Y! D' `* b' B! S6 M7 Qthe rules and when to use them. If you make mistakes trading on paper, then you would make
- e, f5 k2 d- i2 g2 L; _% T+ pmistakes at the time in actual trading and you are not ready to begin trading. When you feel 9 z; P- m4 e) e
that you are competent to start trading, apply all of the rules and TRADE ONLY ON : I1 C; K( m2 N9 t
DEFINITE INDICATIONS. If you are not sure of the trend or the buying and selling price * Q* Y. r, }2 C2 `" j" T- ^
and not sure where to place a stop loss order, then wait until you get a definite indication.
5 E$ l9 n+ g9 eYou can always make money by waiting for opportunities. There is no use getting in partly
* W6 W" P5 z% z u( J/ i$ Ron guesswork and losing.3 j! O# `! v( v
, O3 |) `$ M) }4 B! G1 S
WHEN TO CLOSE A TRADE9 e4 m; M+ @3 P. l3 G/ _' C$ u
After you start actual trading, when you make a trade, don't close it or take profits until you ! M @3 Q' B/ ~2 f6 Q# N7 c
have a definite indication, according to the rules that it is time to sell out or buy in or to move
3 p( {; d# d* B. A9 u: Uup the stop loss order and wait until it is caught. The way to make a success is to always
% ^" [# [# n$ a8 cfollow the trend and not get out or close a trade until the trend changes.
+ I# I- S1 Z# T7 i6 q5 F& B' g: L! A. W- N; Z- L y
WHEN TO WAIT AND NOT TRADE9 V, k) X( e/ ?6 y* e5 @3 R9 V6 u: ^
It is just as important to know when not to enter the market as it is to know when to enter it. 2 N: ]) L# d2 z2 a/ M
The time not to make a trade is when you find a stock has been holding in a narrow trading . a5 z; h$ ^3 j$ ~$ [) u0 R
range for some time, say, a 5-point or a 3-point range, but has not broken under bottoms " N( s5 I/ e2 v4 ?
previously made or crossed tops previously made. A stock may stay for weeks or months or
/ x$ s9 T# R6 m+ Geven years in a trading range and will not indicate any big move or change in trend until it 6 n0 ~9 `1 _1 W3 |; x# f
crosses as a previous top or breaks a previous bottom. After a prolonged decline stocks
4 d, }0 K4 g6 c- M$ f* Fnearly always narrow down and hold in a trading range for some time. If a stock is inactive in * R5 Y$ L. J- {2 U$ m
this position, it is no time to start trading in it.
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# r) _/ K- o3 W! A* ~FOLLOW ALL RULES* X" F. |' i, A4 p1 p, e
Remember, follow all rules; check and double check; study the major and minor cycles for
* E2 g0 X, ~# Y" p" [forecasting; watch closely the Resistance Levels; study the different Formations and bottoms 7 K, h5 K/ B3 ]6 U$ c
and tops and between bottoms and tops. If you ignore one important point, it may get you in
/ }. B2 X+ ^1 {. D5 @( {! \+ N) zwrong. The whole can never exceed all its parts and all the parts make up the whole. If you
) x" P8 D9 F6 ?8 I* P7 s$ oleave out one of the rules, you will not have a complete forecasting method or trend indicator.
4 j6 a* P4 P9 {& KYour success with the method depends upon you doing your part, studying and learning how 5 p4 e0 r1 g7 F9 m6 f# C* \
to apply the rules and not mixing any inside or outside information or reasoning against the . W3 p6 H, `6 T* b' N2 C5 q' G( S
mathematical indications. No man ever made a success at anything who did not work hard. I ! l5 c* o2 W" Q$ ] }
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
