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HOW TO TRADE5 T2 C" ^/ [3 z0 E8 k
After you have thoroughly mastered all of the lessons, be sure you are right before you make
: a( H8 P/ W4 Z- R6 ea trade. Never guess. Trade on mathematical indications only.
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WHAT YOU MUST KNOW BEFORE YOU START TRADING
. y" K# x% s" x6 F7 CYou must know exactly how to apply all the rules. You must know where to place a stop loss
0 l- b0 q( Y |& Lorder and must look up what cycle the year is in, that is, whether it is a bull or bear year,
9 u4 D0 u$ y; v, w; hwhether 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 - v' ~4 u" ^8 n, l0 U
stock on the monthly chart; next consider the weekly chart and then the daily chart. If they all & \6 O4 W3 u: D! m' e% M# E% n8 D
confirm an uptrend, it is a cinch to buy, provided you have located the point at which to place 3 }3 U6 k4 _7 f6 C/ u! K) D
a stop loss order. On the other hand, if the cycle shows that it is a bear year and the monthly,
# a8 | g: m6 `' ?, Aweekly and daily chart show down trend, then it is the time to go short, but again, you must / u% |; J9 y/ D5 X7 f# `) c, P5 H
look for the most important point ... where to place the stop loss order so that it will not be 5 `: j+ q- H+ T
more than 3 points away and closer if possible.
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& V5 d: w* X, R+ h: X' ?WHAT TO LOOK UP BEFORE YOU MAKE TRADE
! U6 t1 t/ {" n* c* @+ W& [$ ]: _2 VFollowing are the most important points that you must consider before buying or selling a 8 I& M7 K7 U& {+ a& Y
stock:" N6 O# o7 O! [: J
1. TIME CYCLE ... whether Bull or Bear year, and whether main trend of the general
. f2 T1 o! P3 c# j! ~9 M& Kmarket is up or down.
+ y7 A b& r4 Q2. CYCLE OF INDIVIDUAL STOCK … whether up or down year.
1 E- S! G* @& ?8 H3. MONTHLY position on TIME PERIODS from tops and bottoms.6 Y5 ]& x2 ~. b& _- T4 d) K
4. WEEKLY position on TIME PERIODS from tops and bottoms.! a- f. m& U3 a: V
5. RESISTANCE LEVELS ... see whether the stock is near any half-way point or other
" Q. m; a4 q0 _- t3 B/ Cpoints of support or resistance.1 n! Z# q+ {+ ` x
6. Study all FORMATIONS. If a stock has held for several days, weeks or months around
7 {0 Z' U5 y1 v; J# x- Sthe same level, determine whether it is about ready to cross tops or break bottoms.8 p; r L. r4 w" b6 y% S! K1 v. ]2 |
7. Look up VOLUME OF SALES. See whether a stock has increased or decreased Volume 0 `6 Z c3 d2 p# q, }2 X' Z8 k
over past few days or weeks.
1 k: w. R3 U6 v" U9 `8. Look up SPACE or price movements from previous tops and bottoms and find out the
R0 Z/ C5 e* ]" F1 Cgreatest advance or decline for past few weeks or months. Example: If a stock has 7 I ]1 N) \# R) y* L
reacted 5 points several times and at the time you look it up, if you find it is 3 points
9 ^9 B6 [" @& w& ?/ `2 G% Rdown from the last top and the trend is up on monthly, weekly and daily with the price
5 p/ W7 y1 u; W1 ?+ M+ q) Cnear a support point, you could buy with a stop loss order 2 to 3 points away. If the stock
7 t- ^5 I N" }3 [should break back over 5 points, the previous reaction limit, it would show a change in
( n: M2 X9 f& R1 F( F4 Rtrend and you should go short of it.* X- n# X, D: B' q3 G
9. Never overlook the fact that you must have a definite indication before making a trade.
& a9 ^, U4 q1 d4 g10. Most important of all ... always locate the point at which to place a stop loss order to
( l ]7 I. w( k) i5 e) N( Ulimit risk.
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PRACTICE TRADING ON PAPER
4 \& P6 [# k* oAfter you feel sure that you have mastered all the rules and know exactly how to determine
p4 ~ s" Y; o# ]4 Q, [the trend of a stock and the place to begin trading, then to make yourself doubly sure and
& m$ B% P$ @6 g* Y: j5 {" @7 K8 o# Aestablish confidence, practice trading on paper and till you thoroughly understand how to use & a4 ]- o! r- }: S; p& \
the rules and when to use them. If you make mistakes trading on paper, then you would make
/ _1 F4 n9 N' E6 q. A. pmistakes at the time in actual trading and you are not ready to begin trading. When you feel
' r" e3 M3 V! k! Z6 p( Cthat you are competent to start trading, apply all of the rules and TRADE ONLY ON
1 {' Y. j8 M. Y) dDEFINITE INDICATIONS. If you are not sure of the trend or the buying and selling price 2 W) r2 V/ _2 z" h9 {0 A* b0 b2 @
and not sure where to place a stop loss order, then wait until you get a definite indication. 4 K" D5 a! K7 a* d9 n' o3 d
You can always make money by waiting for opportunities. There is no use getting in partly
2 a9 t4 p d6 oon guesswork and losing.
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WHEN TO CLOSE A TRADE
" a6 \0 p# B; F/ ?6 V9 T' KAfter you start actual trading, when you make a trade, don't close it or take profits until you
2 {# c7 J) n. a, q; i- u* m" |5 Ahave a definite indication, according to the rules that it is time to sell out or buy in or to move ' M0 |# k7 ~ B3 G
up the stop loss order and wait until it is caught. The way to make a success is to always
2 Y* ^+ y" o1 a6 t2 k: g1 xfollow the trend and not get out or close a trade until the trend changes.9 ]/ Z0 e, Z" h% a' `
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WHEN TO WAIT AND NOT TRADE) g9 E0 @5 Q! a* }
It is just as important to know when not to enter the market as it is to know when to enter it. . w; r# C% Q/ E: a! b5 f. w$ X' j
The time not to make a trade is when you find a stock has been holding in a narrow trading $ y8 u2 u8 j# J* e7 j: i
range for some time, say, a 5-point or a 3-point range, but has not broken under bottoms . Y0 ]" ]/ n/ n2 H: b
previously made or crossed tops previously made. A stock may stay for weeks or months or / S4 ~; c5 w1 N% Z5 b% L8 d
even years in a trading range and will not indicate any big move or change in trend until it
2 Z* |' x& s5 e) A6 hcrosses as a previous top or breaks a previous bottom. After a prolonged decline stocks
9 Z1 m7 C. W3 @/ e* t. ~0 w- Cnearly always narrow down and hold in a trading range for some time. If a stock is inactive in
7 i9 o! g0 U/ n. i ^2 ~4 r+ L0 uthis position, it is no time to start trading in it.
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FOLLOW ALL RULES/ X [# G/ z" V2 [- Q4 F* v! h# t1 ~0 L
Remember, follow all rules; check and double check; study the major and minor cycles for
1 k! G3 S k4 P" L4 X, gforecasting; watch closely the Resistance Levels; study the different Formations and bottoms 7 p' f! U: k2 ]! Y/ J9 x
and tops and between bottoms and tops. If you ignore one important point, it may get you in ; {+ w1 C* i+ X
wrong. The whole can never exceed all its parts and all the parts make up the whole. If you
* S8 f& G* A* Rleave out one of the rules, you will not have a complete forecasting method or trend indicator.' L$ ?2 t: J" `7 Q8 S
Your success with the method depends upon you doing your part, studying and learning how ! C2 X- i' e+ F3 m$ X" ~, S
to apply the rules and not mixing any inside or outside information or reasoning against the
: M6 ]* I+ r% x- [% G1 Z! k9 Kmathematical indications. No man ever made a success at anything who did not work hard. I
5 ~) V2 l: q5 q+ uhave 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
