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2012年3月6日 星期二

交易和成功風險管理的125條箴言 (2)

26‧ Expand your sources for market info but limit your sources for market opinion‧
擴充你的市場信息來源;限制你的市場意見來源。
27‧ Don’t ever allow a big winning trade to turn into a loser‧ Stop yourself out if market moves against you 20% from your peak profit point‧
永遠不要讓一場大贏的交易轉變為輸家。如果市場使你的贏利從最高處下滑了20%,止損出市。
28‧ It is never possible to know everything about anything‧ A commodity trader is in constant danger‧
沒有人能夠做到萬事皆知。從事期貨交易總要面臨危險。
29‧ Successful trading requires four things‧ Knowledge, disciplined courage, money, and the energy to merge the first 3 properly‧
交易要具備四大要素才能成功:知識、控制得當的勇氣、金錢以及將這三者妥善結合在一起的精力。
30‧ Expect and accept losses gracefully‧ Those who brood over losses always miss the next opportunity, which more than likely will be profitable‧
預見到會有虧損,雍容大度地接受虧損。那些對虧損苦思冥想的人總是失去下一個機會,而下一個機會很可能是個贏利的機會。
31‧ The one essential ingredient to making money with money and keeping it is having an organized effort‧
用錢來掙錢以及保住錢的一個根本要素是做事要有板有眼。
32‧ Unless you progress, you go backwards‧ Once you complete a trading goal it is crucial that you immediately set a new goal‧
不進則退。要緊的是一旦實現了一個交易目標,你應該立刻設定一個新的目標。
33‧ The art of concentration can help you become a great trader‧ In other words, set aside time to think, plan, meditate, investigate, research, analyze, evaluate and select your trades carefully‧
專心致志的藝術能夠幫助你成為一個傑出的交易者。也就是說,安排出時間來仔細地思考、計劃、琢磨、調查、研究、分析、衡量和選擇你的交易。
34‧ Split your profits right down the middle and never risk more than 50% of them again in the market‧
把你的盈利一分為二,決不拿其中的百分之五十以上再到市場上去冒險。
35‧ The key to successful trading is in knowing yourself and in knowing your stress point‧
成功交易的關鍵是了解你自己以及知道你自己對壓力的承受能力。
36‧ The real difference between winners and losers is not so much native ability as it is discipline exercised in avoiding mistakes‧
成功者和失敗者之間的真正區別,與其說是天生的能力,還不如說是在避免錯誤中表現的有素的訓練。
37‧ The greatest risk for a commodity trader is to rely on hope alone‧ Never substitute hope for facts‧ The greatest loss is loss of self-confidence‧
期貨交易商的最大的錯誤就是把一切都寄托在希望上。永遠不要用希望來取代事實。自信心的失落是最大的虧損。
38‧ You cannot perform very well for very long with your shoes nailed to the floor‧ In trading as in fencing there are the quick and the dead‧
你不可能在原地不動而持久地表現出色。交易就像擊劍,不是快速運動,就是身敗劍下。
39‧ Remember Mark Twain: “only 10% of the people think‧ 10% think they think‧ The other 80% would rather die than think‧”
記住馬克‧土溫說的:“只有百分之十的人思考,百分之十的人認為他們思考,其餘百分之八十的人寧死也不願思考。”
40‧ The man who goes to the top as a commodity trader does not do as he pleases‧ He has trained himself to choose correctly between the two freedoms: the freedom to do as he pleases, and the freedom to do what he must do‧
期貨交易高手做事不是隨心所欲。他把自己訓練得知道怎樣在兩種自由中作正確的選擇:隨心所欲的自由和非做不可的自由。
41‧ Since there is always the possibility of surprise in thin, dead markets, less capital should be risked there than in markets which are broad and moving‧
因為在窄小的、停滯的市場裏總有出乎意料的可能,在這樣的市場裏應該比在寬廣的、運動的市場裏投入較少的資本來承擔風險。
42‧ Limit the risk in any one trade to a maximum of 10% and the risk in all open trades to a maximum of 25% of trading capital‧ (risk = pct of available capital)‧ Determine this each day, adding profits and subtracting losses in open trades, and combine this net figure with your trading capital‧
將你每一手交易的風險控制在百分之十以內。將你所有持倉的交易的總風險控制在最多不超過交易資本的百分之二十五(風險=可用資本的百分比)。每天對此加以計算,在持倉交易中加上盈利,減去虧損,再把這一數字同你的交易資本結合起來。
43‧ It does not take much capital to trade a market if one has knowledge and understanding‧ St‧ Paul said, “when I am weak I am strong‧”
如果你懂得和理解一個市場,做交易並不需要很多資本。聖保爾說過,“我在軟弱時則強壯”。
44‧ Speech may be silver but “Silence is Golden”‧ Traders with the golden touch do not talk‧
言談可能是銀子,可“沉默是金子”。有點金術的交易商稀於言談。
45‧ Common trading errors include: A) trading without good reasons‧ B) trading on hope rather than facts‧ C) overloading without regard for capital‧
常見的交易錯誤包括:A、理由不充分的交易;B、基於希望多於事實的交易;C、與資本不相稱的超量交易。
46‧ “I like the short side of the market because there is usually less company”‧ The mob is usually wrong‧ It is usually long‧
“我喜歡市場看空的一邊,因為通常這裏人要少一些”。蜂擁之眾通常是錯的,它通常是看多。
47‧ A fatal mistake made by the fundamental trader is to take small profits‧ This is the result of limited vision ??? extremes always seem silly to men of so called good judgment‧
初學交易的人的一個致命的錯誤是稍有贏利就出手。這是目光短淺的結果──對所謂的明智的人來說,走極端總是愚蠢的。
48‧ Trade only when you have a good reason on an appraisal of fundamentals and using chart action for confirmation and timing of entry and exit‧
只有當你根據基本面的分析作出估價,運用圖表行為加以證實,並策劃好入市和出市的時間,只有當這些加在一起為你提供了充足的理由時,再做交易。
49‧ Believe that “the big one is possible” ──be there when it starts‧ Have the gross power to act, be rested mentally and physically, and finally let your profits run and cut your losses quickly‧
相信“大的未必不可能”──一旦大的發生了,不至於手忙腳亂。讓綜合的力量自己行動,精神上和肉體上都休息充分,最終讓你的利潤滾動,迅速地砍掉你的損失。
50‧ Dream big dreams and think tall‧ Very few people set goals too high‧ A man becomes what he thinks about all day long‧
大膽做夢,敢於想像。很少有人把目標設得過高。一個人從早到晚在思考什麼,他最終就變成什麼。