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3 `, A) j$ D0 e5 D% U; ]7 NHOW TO TRADE
) e: p5 \# O- Z |After you have thoroughly mastered all of the lessons, be sure you are right before you make : m5 [; I# S% I: q, a
a trade. Never guess. Trade on mathematical indications only.
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WHAT YOU MUST KNOW BEFORE YOU START TRADING+ L* b7 V1 p7 F3 a3 v. q
You must know exactly how to apply all the rules. You must know where to place a stop loss / \% O( ~" _+ @: z( C: s& O
order and must look up what cycle the year is in, that is, whether it is a bull or bear year, * l4 @" _8 B* M/ e' l U2 Q
whether the main trend should be up or down.
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! {9 a% P5 A- `' W0 M* R- p# yBefore you make a trade, either buying or selling, consider the position of each individual
2 p7 i9 j! {) j! qstock on the monthly chart; next consider the weekly chart and then the daily chart. If they all
! D! }6 f8 v; Wconfirm an uptrend, it is a cinch to buy, provided you have located the point at which to place 4 i2 C: }" I7 z; d: s
a stop loss order. On the other hand, if the cycle shows that it is a bear year and the monthly, ) z" E5 j/ p) E$ K
weekly and daily chart show down trend, then it is the time to go short, but again, you must 0 w' d D2 S/ C, k. r
look for the most important point ... where to place the stop loss order so that it will not be 5 r' J, t) c- A7 k0 p
more than 3 points away and closer if possible./ X$ E) ? e; D2 r1 [2 _4 B) L$ g
) |! e: j& e$ y9 q. o7 C8 e! I0 JWHAT TO LOOK UP BEFORE YOU MAKE TRADE
6 t' |$ y( C( }1 cFollowing are the most important points that you must consider before buying or selling a
! P6 o( g, b: kstock:+ X3 z5 f4 r4 T( x: G
1. TIME CYCLE ... whether Bull or Bear year, and whether main trend of the general
9 d; @2 ], ^" E' a% Rmarket is up or down.0 ^, M1 ?; n. } k4 d# f1 i
2. CYCLE OF INDIVIDUAL STOCK … whether up or down year.; h0 ?2 W7 L9 a# m6 F; o
3. MONTHLY position on TIME PERIODS from tops and bottoms.
: Q3 l& W9 h4 x% B4. WEEKLY position on TIME PERIODS from tops and bottoms.
; t3 e* ]2 \, i3 o2 \: S5. RESISTANCE LEVELS ... see whether the stock is near any half-way point or other
/ G i. Q# g- ]points of support or resistance.
`" S8 N& F4 D3 E& e- h6. Study all FORMATIONS. If a stock has held for several days, weeks or months around 3 T" J# h6 g3 I! ^/ H7 T) y3 p n
the same level, determine whether it is about ready to cross tops or break bottoms.
5 W" ^: n5 F: M; T( |6 |: A7. Look up VOLUME OF SALES. See whether a stock has increased or decreased Volume & z; H3 l2 N: Z( ]+ X
over past few days or weeks.
( d8 H# d# i! q: q5 U3 U8. Look up SPACE or price movements from previous tops and bottoms and find out the
8 @7 t# a! w8 d% L- ggreatest advance or decline for past few weeks or months. Example: If a stock has
9 y. g' A2 L- m( ^ W H( R1 d Nreacted 5 points several times and at the time you look it up, if you find it is 3 points + I! C, _4 N. W* Q7 \
down from the last top and the trend is up on monthly, weekly and daily with the price
% j( ?6 L9 j2 \1 I7 r* Q, ^3 S) knear a support point, you could buy with a stop loss order 2 to 3 points away. If the stock + |! b, N, E' `, ?* j) ^
should break back over 5 points, the previous reaction limit, it would show a change in 8 Q- U- G V' U, }
trend and you should go short of it.& ^/ y8 Y: p+ V- ^8 u% J
9. Never overlook the fact that you must have a definite indication before making a trade.
. f5 g" V i, |2 M2 ?7 x: n- o$ N10. Most important of all ... always locate the point at which to place a stop loss order to
( S. h3 s# o; Blimit risk.
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PRACTICE TRADING ON PAPER
" ]; g3 o; e% s7 Q2 w( L. LAfter you feel sure that you have mastered all the rules and know exactly how to determine 8 e: b0 K8 ]3 f
the trend of a stock and the place to begin trading, then to make yourself doubly sure and 5 K! s7 X0 K; z6 x+ \9 Y
establish confidence, practice trading on paper and till you thoroughly understand how to use r' i0 T; U9 B' {* b
the rules and when to use them. If you make mistakes trading on paper, then you would make , U, Y/ A: z) ~- @8 S
mistakes at the time in actual trading and you are not ready to begin trading. When you feel ! t1 X" {3 O( q' x
that you are competent to start trading, apply all of the rules and TRADE ONLY ON . a" f- ~+ ]9 O9 X1 ^, L9 y
DEFINITE INDICATIONS. If you are not sure of the trend or the buying and selling price ( x, I2 \1 c; K$ @ I( V' m* w
and not sure where to place a stop loss order, then wait until you get a definite indication. : R+ s% K5 Z0 x( b2 r1 @7 P j
You can always make money by waiting for opportunities. There is no use getting in partly
% i2 q/ p( m9 G4 m$ x1 U9 t: ron guesswork and losing.
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! i9 j! h8 H K5 j3 k- xWHEN TO CLOSE A TRADE" a5 p# j9 b7 R$ Q
After you start actual trading, when you make a trade, don't close it or take profits until you . }9 x" s$ h- L$ U/ w
have a definite indication, according to the rules that it is time to sell out or buy in or to move
1 t& r' P8 {/ mup the stop loss order and wait until it is caught. The way to make a success is to always
; [( [& y3 F. H; xfollow the trend and not get out or close a trade until the trend changes.8 ` w' f" c% `! I* B: S
0 }0 p9 _5 h) L, b. S# gWHEN TO WAIT AND NOT TRADE# A ] y5 u! w+ }/ Q
It is just as important to know when not to enter the market as it is to know when to enter it. 5 V+ V Q( u; q8 T, g" Y6 R4 V; E
The time not to make a trade is when you find a stock has been holding in a narrow trading
) ~* q8 ^& V% e7 \6 zrange for some time, say, a 5-point or a 3-point range, but has not broken under bottoms 9 @; W" q% [" R4 E8 X }1 @ {7 ?5 u
previously made or crossed tops previously made. A stock may stay for weeks or months or , ^- k$ @3 z- G; F( [- V5 m" j
even years in a trading range and will not indicate any big move or change in trend until it ! x; W1 s9 M; z3 |" k3 S. p
crosses as a previous top or breaks a previous bottom. After a prolonged decline stocks
8 U" z) r+ l) ^- ?8 ?+ I/ d; tnearly always narrow down and hold in a trading range for some time. If a stock is inactive in 1 Z( k- R6 j: |- Q4 W; X
this position, it is no time to start trading in it.& A X; I! O0 b
8 E3 l8 W* k8 ~2 ~FOLLOW ALL RULES# k3 K& \% C: D9 m$ x3 N. t! v$ g
Remember, follow all rules; check and double check; study the major and minor cycles for
J. ~# X8 [3 H# k. j; N0 rforecasting; watch closely the Resistance Levels; study the different Formations and bottoms 1 H2 [6 O+ M4 c6 Q. V V& q
and tops and between bottoms and tops. If you ignore one important point, it may get you in 3 P$ a, e/ S7 l$ o1 T% B
wrong. The whole can never exceed all its parts and all the parts make up the whole. If you 6 r/ g9 \% g2 {" u# K+ {( x* [
leave out one of the rules, you will not have a complete forecasting method or trend indicator.+ ^! D8 o% v9 J: z
Your success with the method depends upon you doing your part, studying and learning how * ~* |( V+ d% A1 j$ p% B
to apply the rules and not mixing any inside or outside information or reasoning against the
3 `% G/ d% f/ q8 w9 R- _5 s! s8 {mathematical indications. No man ever made a success at anything who did not work hard. I
( l$ S+ T: `3 r, J! j, ohave 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
