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$ H2 B$ c O) B, Q9 ^; j2.译文乃初稿，未校稿，仅供参考！
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HOW TO TRADE: @ B" f: Q4 N' _+ p+ u9 V0 Y
After you have thoroughly mastered all of the lessons, be sure you are right before you make
3 n6 B9 B$ c0 `! Y d, Pa trade. Never guess. Trade on mathematical indications only.
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0 W/ t4 L! |/ J2 ]! e- ^! @% _WHAT YOU MUST KNOW BEFORE YOU START TRADING, \4 y, F' s0 n1 b
You must know exactly how to apply all the rules. You must know where to place a stop loss ) v" B* e' ?, l7 g
order and must look up what cycle the year is in, that is, whether it is a bull or bear year, ) F2 W) G$ |( @! L; m( L; w
whether the main trend should be up or down.
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# }8 {9 O9 N" i& @7 rBefore you make a trade, either buying or selling, consider the position of each individual
$ k s3 I, g8 ^& c0 gstock on the monthly chart; next consider the weekly chart and then the daily chart. If they all 1 y( ?) v. u7 y, `" \2 k
confirm an uptrend, it is a cinch to buy, provided you have located the point at which to place . ^/ E0 R" [) f) u, k9 v
a stop loss order. On the other hand, if the cycle shows that it is a bear year and the monthly,
- r7 @* E) P0 t8 k3 Z8 S' Uweekly and daily chart show down trend, then it is the time to go short, but again, you must 7 a( J: d3 f1 s, D% x* q
look for the most important point ... where to place the stop loss order so that it will not be + h9 m) h6 l, b
more than 3 points away and closer if possible.
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9 u1 q% c0 f8 S" A" G/ CWHAT TO LOOK UP BEFORE YOU MAKE TRADE9 j- v, [7 }) v4 L g3 w
Following are the most important points that you must consider before buying or selling a
+ v2 a3 A) C5 N% B0 [4 J7 hstock:3 V+ n' Z. m( e+ n$ K0 F( A
1. TIME CYCLE ... whether Bull or Bear year, and whether main trend of the general 2 r3 n5 |$ l* N) R6 b% H: J
market is up or down.$ u% H1 D3 z& r% V; e' }
2. CYCLE OF INDIVIDUAL STOCK … whether up or down year.5 X0 E* q% @+ l: b3 G; e# F# l
3. MONTHLY position on TIME PERIODS from tops and bottoms.. [/ Q/ @& ]% V
4. WEEKLY position on TIME PERIODS from tops and bottoms.
( b) i6 T, L' E2 D0 j5. RESISTANCE LEVELS ... see whether the stock is near any half-way point or other
8 v" m' {4 h) E, ?2 p6 ]* \- |points of support or resistance.
5 r* [, G- ]# Z5 r6. Study all FORMATIONS. If a stock has held for several days, weeks or months around
9 d2 N) e" E' j# Uthe same level, determine whether it is about ready to cross tops or break bottoms.7 S, Y$ |' R, _) B# p% d8 c9 W0 j
7. Look up VOLUME OF SALES. See whether a stock has increased or decreased Volume
8 x& d0 ?8 ~) ?+ {$ H( F. B$ Lover past few days or weeks.
. B1 j+ Q: |5 k# V8. Look up SPACE or price movements from previous tops and bottoms and find out the
2 ]! c" B& o3 @2 w8 G" [5 T4 I6 F, Xgreatest advance or decline for past few weeks or months. Example: If a stock has
" B) K3 f; A: N c& U+ y0 @9 W% Ureacted 5 points several times and at the time you look it up, if you find it is 3 points
8 I' L3 K: O) y- k+ T1 {down from the last top and the trend is up on monthly, weekly and daily with the price
+ f/ u2 T0 t4 W) knear a support point, you could buy with a stop loss order 2 to 3 points away. If the stock
$ V& t; M7 D& J. G) Sshould break back over 5 points, the previous reaction limit, it would show a change in ; J T- R1 F* n
trend and you should go short of it.
% A( q' r. ^& j5 S1 U5 f9. Never overlook the fact that you must have a definite indication before making a trade.
. h1 F' S. u) n x% k' n2 P# q10. Most important of all ... always locate the point at which to place a stop loss order to
1 Z" x& u( X+ [limit risk.4 \5 ~+ w* z6 p+ R
% Z! S2 U) q$ K6 p# Z! RPRACTICE TRADING ON PAPER& ~8 b- c7 p5 t; _5 q$ V/ ?
After you feel sure that you have mastered all the rules and know exactly how to determine % j0 O; l6 G' Z/ p+ g! m
the trend of a stock and the place to begin trading, then to make yourself doubly sure and ' p* A/ h6 l0 T# ^' ? }, X
establish confidence, practice trading on paper and till you thoroughly understand how to use
' m, t; {! U. v+ W/ {% Y( nthe rules and when to use them. If you make mistakes trading on paper, then you would make 6 M5 y! M, z r6 N* m
mistakes at the time in actual trading and you are not ready to begin trading. When you feel % \9 U+ ^7 E; o h+ C
that you are competent to start trading, apply all of the rules and TRADE ONLY ON
: K+ C l$ ^! d( F# U; gDEFINITE INDICATIONS. If you are not sure of the trend or the buying and selling price % b3 e5 B* f/ ~. o. y( q. p, N
and not sure where to place a stop loss order, then wait until you get a definite indication.
* t6 s1 P' Z0 i! ]5 K! xYou can always make money by waiting for opportunities. There is no use getting in partly
; R# C6 a/ A+ ion guesswork and losing.
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5 N \9 p& D* _& _8 }WHEN TO CLOSE A TRADE
3 g5 i6 |, |5 DAfter you start actual trading, when you make a trade, don't close it or take profits until you
: {$ P3 C$ I3 U5 shave a definite indication, according to the rules that it is time to sell out or buy in or to move ; T" t- T, L+ C9 P
up the stop loss order and wait until it is caught. The way to make a success is to always
6 q) z$ _% E; a& _follow the trend and not get out or close a trade until the trend changes. y7 y8 [0 K6 m* p( z" g
# Y f( x+ I- \2 D6 M+ ?+ I6 H
WHEN TO WAIT AND NOT TRADE
/ [" s% ^ I1 q$ I' h+ MIt is just as important to know when not to enter the market as it is to know when to enter it.
% }& j1 k5 ~. UThe time not to make a trade is when you find a stock has been holding in a narrow trading
! n5 u+ }$ _' m4 l5 G& lrange for some time, say, a 5-point or a 3-point range, but has not broken under bottoms 4 V4 q, \3 I5 X; Y, g: [
previously made or crossed tops previously made. A stock may stay for weeks or months or M1 ^5 x$ j8 T5 s2 J
even years in a trading range and will not indicate any big move or change in trend until it
; t1 \% E8 H$ A3 [0 `$ Dcrosses as a previous top or breaks a previous bottom. After a prolonged decline stocks
% J; `* C: L0 [: K/ |: [nearly always narrow down and hold in a trading range for some time. If a stock is inactive in
$ z: F7 k7 J; E& ]# Q' gthis position, it is no time to start trading in it.
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FOLLOW ALL RULES9 x5 g# }% h9 Z1 V
Remember, follow all rules; check and double check; study the major and minor cycles for
- D3 z! C8 x# h6 pforecasting; watch closely the Resistance Levels; study the different Formations and bottoms
6 M6 G) Q6 T8 ^7 E. @ P4 J% Mand tops and between bottoms and tops. If you ignore one important point, it may get you in & c" y5 C& M3 T+ v. C* \& m0 d
wrong. The whole can never exceed all its parts and all the parts make up the whole. If you
# g) c5 C. S8 }6 gleave out one of the rules, you will not have a complete forecasting method or trend indicator.
6 |+ i% z! f! Y) OYour success with the method depends upon you doing your part, studying and learning how
5 Y9 y9 @& j' v6 f! ato apply the rules and not mixing any inside or outside information or reasoning against the
3 Q5 D' D" _+ O9 z# \* I# |7 Qmathematical indications. No man ever made a success at anything who did not work hard. I 2 I6 ^1 T7 X G8 D$ {! o) v5 x5 {0 F
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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