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HOW TO TRADE1 D- f# Q! I. L8 [
After you have thoroughly mastered all of the lessons, be sure you are right before you make
: ?. {- [/ y: b/ C( f' j2 T( qa trade. Never guess. Trade on mathematical indications only.( N+ r. @- [ C) {$ z+ g
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WHAT YOU MUST KNOW BEFORE YOU START TRADING
# {! i |' g+ ` _0 F* i: IYou must know exactly how to apply all the rules. You must know where to place a stop loss
, g* C) x0 t# C. L$ j5 T+ dorder and must look up what cycle the year is in, that is, whether it is a bull or bear year,
& U/ ]1 L. ?; [" [' m' D. ^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 P: R) x2 U, `' r' Qstock on the monthly chart; next consider the weekly chart and then the daily chart. If they all 7 _" m! x y4 h \; J+ Q- k
confirm an uptrend, it is a cinch to buy, provided you have located the point at which to place 8 H+ \. g! M/ G- Y* B. u3 b3 g
a stop loss order. On the other hand, if the cycle shows that it is a bear year and the monthly,
" F7 E0 S' E' T' t2 oweekly and daily chart show down trend, then it is the time to go short, but again, you must
6 q! m3 i. A4 Slook for the most important point ... where to place the stop loss order so that it will not be
+ P- y& p# R8 g: P. Ymore than 3 points away and closer if possible.7 q! W4 p# I9 M9 A- ]' F4 Q% Y
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WHAT TO LOOK UP BEFORE YOU MAKE TRADE
% U" u, V4 v9 g- H& J0 e( K; V7 ]Following are the most important points that you must consider before buying or selling a
( `& u* A( C4 b9 v2 a+ Rstock:: l# ]! w+ x, f# |1 e. j/ y, @7 o
1. TIME CYCLE ... whether Bull or Bear year, and whether main trend of the general 9 a' ]/ k9 f+ W; X
market is up or down.
/ _8 J" [0 S0 p0 ^7 s2. CYCLE OF INDIVIDUAL STOCK … whether up or down year.
4 F9 |( u1 R; m2 j! M3. MONTHLY position on TIME PERIODS from tops and bottoms./ M$ }7 E$ l: E5 e
4. WEEKLY position on TIME PERIODS from tops and bottoms. w A1 P" F6 [2 ?& {2 J9 B) p; S
5. RESISTANCE LEVELS ... see whether the stock is near any half-way point or other
& F) b) B, e- ?% u) K& S; Mpoints of support or resistance.
& @; {" Q. b0 k" U- |9 j& }, x6. Study all FORMATIONS. If a stock has held for several days, weeks or months around 4 n* A1 [4 O" _; r' w" o* A, s7 ~5 \. O
the same level, determine whether it is about ready to cross tops or break bottoms.
9 w7 Z* B( D ]5 ?4 N- I7. Look up VOLUME OF SALES. See whether a stock has increased or decreased Volume , ^4 _( e, \( V) _* b/ h% \
over past few days or weeks.
! W9 M. w( [; T3 j. U- C8. Look up SPACE or price movements from previous tops and bottoms and find out the
5 {: G$ L% i5 w, egreatest advance or decline for past few weeks or months. Example: If a stock has ; o+ b" \& n% t) h0 d& h* E$ t
reacted 5 points several times and at the time you look it up, if you find it is 3 points 0 {4 j' l# e+ @ V. H$ x
down from the last top and the trend is up on monthly, weekly and daily with the price
$ Q/ E% w) E6 [$ ynear a support point, you could buy with a stop loss order 2 to 3 points away. If the stock
# J, h# i7 U! ashould break back over 5 points, the previous reaction limit, it would show a change in
; |/ y5 L6 k5 x# }2 @ ^trend and you should go short of it./ n2 \( I9 q6 @1 Y/ B
9. Never overlook the fact that you must have a definite indication before making a trade.9 I* g* [$ B% M# `# A9 Y1 ]
10. Most important of all ... always locate the point at which to place a stop loss order to
- k" @. U' [" Xlimit risk.$ s. G$ A. o: s7 }
5 u; n# J" M+ D; g# A3 \+ bPRACTICE TRADING ON PAPER
r5 A3 }2 h) g* oAfter you feel sure that you have mastered all the rules and know exactly how to determine
% I" Q0 f+ }3 l; E" ithe trend of a stock and the place to begin trading, then to make yourself doubly sure and $ J M1 q- ?& }: H1 k: [. n, y; {
establish confidence, practice trading on paper and till you thoroughly understand how to use - V+ @+ Q6 g7 z9 m R2 J! M
the rules and when to use them. If you make mistakes trading on paper, then you would make 8 ?4 `( t+ K! U# H' ~
mistakes at the time in actual trading and you are not ready to begin trading. When you feel * C7 a" a5 X6 o5 \5 i9 @
that you are competent to start trading, apply all of the rules and TRADE ONLY ON + B _/ c; |1 V+ t
DEFINITE INDICATIONS. If you are not sure of the trend or the buying and selling price
6 |; p7 ]: ~. P2 z! J- A- Zand not sure where to place a stop loss order, then wait until you get a definite indication.
" E/ t3 |& f' n( j1 h7 Y( i! FYou can always make money by waiting for opportunities. There is no use getting in partly " h9 R9 I# p# S% l
on guesswork and losing.
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WHEN TO CLOSE A TRADE
2 q% ^8 m9 J: P0 iAfter you start actual trading, when you make a trade, don't close it or take profits until you ) x, X0 j1 j4 P+ q5 F7 L0 t% q
have a definite indication, according to the rules that it is time to sell out or buy in or to move
. b; {/ V: C- Z- W0 c- \5 [up the stop loss order and wait until it is caught. The way to make a success is to always
7 h: `1 Z5 `; }1 j; [3 T' |follow the trend and not get out or close a trade until the trend changes.
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5 ~3 V" X0 V* s1 x! {" HWHEN TO WAIT AND NOT TRADE+ D9 d- N3 M4 p) o# X
It is just as important to know when not to enter the market as it is to know when to enter it. . {2 v; H( D' D# o
The time not to make a trade is when you find a stock has been holding in a narrow trading - Y9 w3 G+ g. J, C* V2 T
range for some time, say, a 5-point or a 3-point range, but has not broken under bottoms
: Y, w4 k$ Y0 H; Xpreviously made or crossed tops previously made. A stock may stay for weeks or months or
' [5 f( n- V/ G; a% Feven years in a trading range and will not indicate any big move or change in trend until it + ^. ]0 B: C3 f% \: H7 O9 Z
crosses as a previous top or breaks a previous bottom. After a prolonged decline stocks 1 q. R! O8 Z% ]5 o% g5 Y6 S j
nearly always narrow down and hold in a trading range for some time. If a stock is inactive in
: ^4 C" d9 q4 i0 S A y! X9 ethis position, it is no time to start trading in it.
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5 k4 V% B1 Q" o; x8 |. W( pFOLLOW ALL RULES
. P# {. C& |/ _8 aRemember, follow all rules; check and double check; study the major and minor cycles for ; i0 X; S- n/ ^; Z2 m0 m" l5 p
forecasting; watch closely the Resistance Levels; study the different Formations and bottoms . ~; b) k) P* e6 f) ?* R
and tops and between bottoms and tops. If you ignore one important point, it may get you in
) p; V! f3 X& Dwrong. The whole can never exceed all its parts and all the parts make up the whole. If you T# d, J I- W
leave out one of the rules, you will not have a complete forecasting method or trend indicator.! E) g! Y! [$ o6 P3 |' V5 g' @# M
Your success with the method depends upon you doing your part, studying and learning how + j, h( G$ t- O: S
to apply the rules and not mixing any inside or outside information or reasoning against the 8 v5 a1 s5 o0 ]/ H1 P8 ]
mathematical indications. No man ever made a success at anything who did not work hard. I ) s, N! m1 n5 L" i) H9 o: o
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
