101‧ “If you get in on Jones’ tip； get out on Jones’ tip”‧ If you are riding another person’s idea， ride it all the way‧
“如果你是根據張三的小道消息走進市場，那就按照張三的小道消息走出市場”。如果你是依賴別人的主意行事，那就按照他的主意走到底。
102‧ Run early or not at all‧ Don’t be an eleven o’clock bull or a five o’clock bear‧
要麼就早跑，要麼就別跑。不要做11點鐘的牛，或者5點鐘的熊。
103‧ Woodrow Wilson said， “a governments first priority is to organize the common interest against special interests”‧ Successful traders seek out market opportunities capitalizing on the reality that government’s first priority is rarely achieved‧
伍德儒‧威爾遜說過：“一個政府的首要任務是把共有的利益組織起來以對抗特殊的利益。”在現實中，這一政府的首要任務難得真正實現。成功的交易者尋求的市場機會就是建立在這樣的現實上的。
104‧ People who buy headlines eventually end up selling newspapers‧
那些相信報紙頭條的人最終的命運就是賣報紙。
105‧ If you do not know who you are， the market is an expensive place to find out‧
如果你對自己缺乏了解，市場是一個昂貴的地方來發現你自己。
106‧ Never give advice─the smart don’t need it and the stupid don’t heed it‧
不要給別人出主意──聰明人不需要，傻瓜不會聽你的。
107‧ Disregard all prognostications‧ In the world of money， which is a world shaped by human behavior， nobody has the foggiest notion of what will happen in the future‧ Mark that word─nobody！ Thus the successful trader bases no moves on what supposedly will happen but reacts instead to what does happen‧
無視所有的預言。金錢的世界是一個以人的行為勾畫出的世界。在金錢世界裏，沒有一個人對將來會有絲毫的概念。記住這個詞的沒有一個人。所以，成功的交易者不是把自己的行動建築在什麼是應該發生的上，而是對所發生的事而作出反應。
108‧ Worry is not a sickness but a sign of health‧ If you are not worried， you are not risking enough‧
擔心不是病狀，而是健康的標幟。如果你不擔心，那就說明你承擔的風險還不夠。
109‧ Except in unusual circumstances， get in the habit of taking your profit too soon‧ Don’t torment yourself if a trade continues winning without you‧ Chances are it won’t continue long‧ If it does console yourself by thinking of all the times when liquidating early preserved gains you would otherwise have lost‧
除了在不同尋常的情況裏，養成早些兌現你的盈利的習慣。不要折磨你自己即使你出來之後那筆交易還在贏錢。非常可能的是這不會延續很長。即使這種情況繼續下去，想一想所有由於你提前平倉而避免了失去既得盈利的場合。
110‧ When the ship starts to sink， don’t pray─jump！
一旦船開始下沉，不要祈禱──跳船！
111‧ Life never happens in a straight line‧ Any adult knows this‧ But we can too easily be hypnotized into forgetting it when contemplating a chart‧ Beware of the chartist’s illusion‧
生活從來就不是一條直線。每一個成年人都知道這一點。可是，當我們在觀看圖表時太容易被引導得忘掉這一點。警惕圖表製作者創造的幻覺。
112‧ Optimism means expecting the best， but confidence means knowing how you will handle the worst‧ Never make a move if you are merely optimistic‧
樂觀主義意味著期望最好的情況發生。自信心意味著知道一旦最壞的情況發生你會怎樣處理。如果你只是樂觀而已，千萬不要輕舉妄動。
113‧ Whatever you do， whether you bet with the herd or against， think it through independently first‧
不管你做什麼，不管你是隨流而下還是逆流而上，首先對你要做的事作一獨立的思考。
114‧ Repeatedly reevaluate your open positions‧ Keep asking yourself： would I put my money into this if it were presented to me for the first time today？ Is this trade progressing toward the ending position I envisioned？
反覆地重新衡量你的持倉頭寸。不斷地問自己：如果這是我今天第一次才看到的，我會投錢進去嗎？這手交易是不是在向我想像的方向發展？
115‧ It is a safe bet that the money lost by （short term） speculation is small compared with the gigantic sums lost by those who let their investments “ride”‧ Long term investors are the biggest gamblers as after they make a trade they often times stay with it and end up losing it all‧ The intelligent trader will ‧ By acting promptly─hold losses to a minimum‧
可以這麼說，比起那些讓他們的投資“隨波逐流”的人所損失的巨額款項來，（短線）的投機所損失的還是小數目。長線投資者在進入交易之後，常常待著不走而最終全都輸掉。在這種意義上，他們是最大的賭博者。智慧的交易者，通過及時採取行動，把損失限制在最小的範圍內。
116‧ As a rule of thumb good trend lines should touch at least three previous highs or lows‧ The more points the line catches， the better the line‧
實際經驗證明，一條可信的市場動向曲線應當至少三次碰到先前的高峰點或低谷點。一條曲線能抓住的接觸點越多，這條曲線就越可信。
117‧ Volume and open interest are as important to the technician as price‧
對技術分析來說，交易量和持倉量同價格一樣重要。
118. The clearest and easiest way to determine a trend is from previous highs and lows. Higher highs and higher lows mark an uptrend, lower highs and lower lows mark a downtrend.
確定市場動向的最清楚和最容易的方法是根據舊高和舊低。高於舊高和舊低標誌著向上的走向,低於舊高和舊低標誌著朝下的走向。
119. Don't sell a quiet market after a fall because a low volume sell－off is actually a very bullish situation.
不要在一個剛經過跌落的安靜的市場裡賣。因為低流量的跌市實際上是一個非常看多的處境。
120. Prices are made in the minds of men, not in the soybean field: fear and greed can temporarily drive prices far beyond their so called real value.
價格是在人的頭腦裡訂出來的,而不是在大豆田裡訂出來的。恐懼和貪婪可以把價格暫時推到遠離所謂的實際價格之外。
121. When the market breaks through a weekly or monthly high, it is a buy signal. When it breaks through the previous weekly or monthly low, it is a sell signal.
當市場穿過一個星期或一個月的高位時,這是買的信號。當它穿過前一星期或前一月低位時,這是賣的信號。
122. Every sunken ship has a chart.
沒有一艘沉船是不備有圖表的。
123. Take a trading break. A break will give you a detached view of the market and a fresh look at yourself and the way you want to trade for the next several weeks.
在交易之中不妨找個時間休息一下。休息一下可以讓你站在另一個角度上來看一看市場,讓你重新看一看你自己以及你在以後幾個星期內想用的交易方法。
124. Assimilate into your very bones a set of trading rules that works for you.
讓你每根骨頭的骨髓裡都滲透一套對你有用的交易規則。
125. The final phase in a bull move is an accelerated runaway near the top. In this phase, the market always makes you believe that you have underestimated the potential bull market. The temptation to continue pyramiding your position is strong as profits have now swelled to the point that you believe your account can stand any setback. It is imperative at this juncture to take profits on your pyramids and reduce the position back to base levels. The base position is then liquidated when it becomes apparent that the move has ended.
一個牛市運動的最後階段是一場接近頂部的加速賽跑。在這一階段,市場總是讓你相信你低估了潛在的牛市。隨著盈利膨脹到讓你相信你的賬戶可以對付任何挫折,繼續堆砌你的頭寸金字塔的誘惑強大。在這關鍵的時候,要緊的是從你的金字塔上拿走你的盈利,把你的頭寸減少到基本水平。隨後,當這一運動變得顯然結束了時,將這基本頭寸也平倉。
