请懂英文的朋友,帮忙翻译下<江恩股票市场教程>第10A的部份章节.
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原STU翻的,偏偏把这一章给漏翻,不知是何原因?:#DAXIAO,找了大量的资料,七找八凑的终于翻了一些,还有一些实在没办法翻了,复制下来,请帮帮忙.
HOW TO TRADE After you have thoroughly mastered all of the lessons, besure you are right before you make a trade. Never guess. Trade on mathematical indicationsonly. WHAT YOU MUST KNOWBEFORE YOU START TRADING You must know exactly how to apply all the rules. Youmust know where to place a stop loss order and must look up what cycle the year is in, thatis, whether it is a bull or bear year, whether the main trend should be up or down. Before you make a trade, either buying or selling,consider the position of each individual stock on the monthly chart; next consider the weeklychart and then the daily chart. If they all confirm an uptrend, it is a cinch to buy, provided youhave located the point at which to place a stop loss order. On the other hand, if the cycle showsthat it is a bear year and the monthly, weekly and daily chart show down trend, then it is thetime to go short, but again, you must look for the most important point ... where to place thestop loss order so that it will not be more than 3 points away and closer if possible. WHAT TO LOOK UP BEFORE YOU MAKE TRADE Following are the most important points that you mustconsider before buying or selling a stock:
1. 2. 3. 4. 5. 6. 7. 8.
TIME CYCLE... whether Bull or Bear year, and whether main trend of the general market isup or down. CYCLE OFINDIVIDUAL STOCK … whether up or down year. MONTHLYposition on TIME PERIODS from tops and bottoms. WEEKLYposition on TIME PERIODS from tops and bottoms. RESISTANCELEVELS ... see whether the stock is near any half-way point or other points ofsupport or resistance. Study allFORMATIONS. If a stock has held for several days, weeks or months around the samelevel, determine whether it is about ready to cross tops or break bottoms. Look upVOLUME OF SALES. See whether a stock has increased or decreased Volume over pastfew days or weeks. Look upSPACE or price movements from previous tops and bottoms and find out the greatestadvance or decline for past few weeks or months. Example: If a stock has reacted 5points several times and at the time you look it up, if you find it is 3 points down fromthe last top and the trend is up on monthly, weekly and daily with the price near asupport point, you could buy with a stop loss order 2 to 3 points away. If thestock shouldbreak back over 5 points, the previous reaction limit, it would show a changein trend andyou should go short of it. Page 290
9.
Neveroverlook the fact that you must have a definite indication before making atrade.
10. Most important of all ... always locate the point atwhich to place a stop loss order to limit risk. PRACTICE TRADING ON PAPER After you feel sure that you have mastered all the rulesand know exactly how to determine the trend of a stock and the place to begin trading, thento make yourself doubly sure and establish confidence, practice trading on paper and tillyou thoroughly understand how to use the rules and when to use them. If you make mistakestrading on paper, then you would make mistakes at the time in actual trading and you are notready to begin trading. When you feel that you are competent to start trading, apply all of therules and TRADE ONLY ON DEFINITE INDICATIONS. If you are not sure of the trend orthe buying and selling price and not sure where to place a stop loss order, then waituntil you get a definite indication. You can always make money by waiting for opportunities.There is no use getting in partly on guesswork and losing. WHEN TO CLOSE A TRADE After you start actual trading, when you make a trade,don't close it or take profits until you have a definite indication, according to the rules thatit is time to sell out or buy in or to move up the stop loss order and wait until it is caught. Theway to make a success is to always follow the trend and not get out or close a trade untilthe trend changes. WHEN TO WAIT AND NOT TRADE It is just as important to know when not to enter themarket as it is to know when to enter it. The time not to make a trade is when you find a stock hasbeen holding in a narrow trading range for some time, say, a 5-point or a 3-point range,but has not broken under bottoms previously made or crossed tops previously made. A stockmay stay for weeks or months or even years in a trading range and will not indicate anybig move or change in trend until it crosses as a previous top or breaks a previous bottom.After a prolonged decline stocks nearly always narrow down and hold in a trading range forsome time. If a stock is inactive in this position, it is no time to start trading in it. FOLLOW ALL RULES Remember, follow all rules; check and double check; studythe major and minor cycles for forecasting; watch closely the Resistance Levels; studythe different Formations and bottoms and tops and between bottoms and tops. If you ignore oneimportant point, it may get you in wrong. The whole can never exceed all its parts and allthe parts make up the whole. If you leave out one of the rules, you will not have a completeforecasting method or trend indicator. Your success with the method depends upon you doing yourpart, studying and learning how to apply the rules and not mixing any inside or outsideinformation or reasoning against the mathematical indications. No man ever made a success atanything who did not work hard. I have done my part, and it is now up to you to do yours.
August 3, 1939
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发表于 2013-12-25 19:19
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