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Investing is an art and highly emotional and subjective.

When buying stocks, if your buying decisions are based on"insiders' information or rumours" and not sound analysis, then you are gambling. Many investors enter the market when stocks prices are high (lacking of confidence to enter beforehand when prices were low). Once the stocks market crash, they tend to sell out their shares out of fear and pessimism, swearing to "chop off their fingers" and never enter the stocks market again. If such situation happens, all their previous gains may be wiped out and suffered a loss.

Investing is an art and highly emotional and subjective. Subjectivity is largely controlled by our emotions. There are times when we are optimistic or pessimistic. If we are unable to control our emotional weakness, we are unlikely to become successful investors.

To be successful, you must first understand yourself, in particular your emotions and the degree of pressure you can tolerate.

The investors should also analyse the country's economic prospects together with the earnings outlook of the major listed companies.

It is imperative that you like Mathematics as the sound mathematical knowledge plays a key role in investment.


财富為了实现梦想;而非梦想拥有财富 .
美元对亚洲货币走势图


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Tuesday, May 6, 2008

趋势中部止损的演变 [戴若•顾比] PART 3


图表说明(tt3):Enrty 入场 GMMA and trend line based stop level GMMA趋势线止损位 CBL stop loss倒数线止损Stage 1 阶段 1 PROTECT CAPITAL保护资本金 Immediate action 立即行动 Stage 2 10% to 15% 阶段 2 10% to 15% WARNING预警 Stage 3 阶段 3 ALERT 警示 Prepare for action 准备行动
交易者有两个选择。他们可以在趋势以上的一个较高价格进场,并减小它们的持仓头寸,结果在较低的趋势线上离场时会导致一个2%的损失。在这种情况下,在倒数线止损线以下的一个收盘价将会起到警示采取迫切行动的作用。第二个选择是,维持他们所偏爱的持仓头寸,但是在更接近于趋势线处进场,这样风险仍然保持在2%的原则之内。在这一情况下,进场点可能会低于倒数线止损线但高于限定的主要趋势的趋势线。一个低于趋势线的收盘价是立即离场的信号。

随着交易的发展,交易进入到了第二阶段和第三阶段的条件中。这些条件相关于我们交易的起始点和累积盈利水平。这些条件也是以我们对正在发展的趋势所进行的分析为根据的。当我们在趋势中部进场开始交易时,我们对于趋势的力量已有了更好的理解和确认,这是在第二及第三阶段进行交易管理时的一个优势。
当进行趋势突破交易时,我们使用止损信号作为立即离场信号,以保护我们的交易资金。趋势是疲软的,不容易加以确定,所以一种以波动为基础的止损方法,如倒数线或者平均真实区域等是最为合适的。
当对已确立趋势进行交易时,我们在寻找暂时的价格虚弱点,这时我们使用顾比复合移动平均线或趋势线对趋势做的更好的定义。在交易的第一阶段,离场条件保持不变。一旦出现一个低于我们用以定义趋势的线或者指标,我们将立即离场。虽然在这种情况中我们可能会以更大的信心去定义趋势,但这并不影响在出现任何离场信号时要立即采取行动的必要性。

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