按键盘上方向键 ← 或 → 可快速上下翻页，按键盘上的 Enter 键可回到本书目录页，按键盘上方向键 ↑ 可回到本页顶部！
————未阅读完？加入书签已便下次继续阅读！
e beauty of this money management system is that it clips your losses when you are cold and lets you go forward at full throttle when you’re hot。
交易仓位大小是根据你要亏的钱来计算的，不要根据你要赚的钱计算的。遵守2％原则和6％原则。如果某个月你的运气特别好，所有交易都是赢利的，你可以把止损点设置在保本之上，还可以加仓。你甚至可以利用资金杠杆。资金管理的美妙之处就是，当你亏的时候亏得少，赚的时候能开足马力。
On the first of the month； if you have no open positions； the 2％ and 6％ levels are easy to calculate。 If you approach the first of the month with some open positions； calculate your account equity … the value of all open trades at the latest market price plus all cash or money market funds。 Calculate the 2％ and 6％ levels on the basis of that number。
月初时，如果你没有仓位，2％和6％的数字好计算。如果你已经有了仓位，计算你的账户资金时——要把所有仓位的市值加上所有的现金和未用的保证金。根据这个来计算2％和6％的可能亏损值。
If you have moved stops beyond breakeven in open trades； you have no capital at risk and may look for new trades。 If your stops are not yet at breakeven； find the percentage of your equity you have exposed to risk and count it against the 6％。 Once you deduct that number from 6％； the result will let you know whether you may put on new trades。 How should you apply the 2％ and 6％ Rules if you trade futures； stocks； and options all at the same time？ First of all； a beginner should concentrate on a single market。 Diversify only after you succeed。 If you are trading more than one market； open separate accounts and treat each as a separate trading enterprise。 For example； if you have 60；000 in stocks and 40；000 in futures； calculate the 2％ and 6％ Rules for the 60；000 and apply them to stocks； and then calculate the 2％ and 6％ Rules for the 40；000 and apply them to futures。 If you have more than one account； allocate trading…related expenses in proportion to their sizes。 Remember； both your trading system and your money management must be good in order to win in the markets。
如果你的仓位已经赢利，而且你在赢利之上设置了止损点，那么你的资金是没有风险的，你可以寻找你的新交易。如果你的仓位止损点不能保证赢利，你要重新计算好风险，数字是6％。一旦你计算好了6％的数字，你就知道要建立多少新仓位。如果你同时交易期货，股票和期权，该如何应用2％原则和6％原则呢？首先，新手要聚焦在一个市场，成功以后再关注多个市场。如果你同时在几个市场交易，开不同的账户，每个账户相对独立。举例说，如果你有60000元投资于股票，40000元投资于期货。为60000元的股票计算一次2％和6％；再为40000元的期货计算一次2％和6％。如果你的账户不止一个，根据仓位合理分配费用。记住，要想在市场取胜，交易系统和资金管理都要优秀才行。
PART THREE
第3部分
Traders go through several stages of development。 Many beginners view trading as a mechanical pursuit。 They think that if only they could find the right parameters for the Stochastic or the proper length for a moving average； success would be theirs。 They bee easy prey for gurus selling mechanical systems。
交易者会经历多个阶段。很多新手以为交易是很机械的。他们以为只要为软件找个合理的参数，或者设置一个正确的均线，就可以成功了。他们很容易成为卖交易软件老师的猎物。
Survivors realize that psychological factors； such as optimism or doubt； greed or the fear of pulling the trigger are much more important than any technical indicator。 They start developing a feel for the importance of risk control。 I keep running into folks at conferences who have a good grip on technical analysis and some understanding of psychology； but who know that something is missing because they cannot win consistently and must keep their day jobs。 What should they do next？
幸存者心里明白，心理因素，包括乐观和怀疑的较量，贪婪和恐惧的较量，都比技术指标要重要。他们开始研究控制风险。我在一次会议上遇到几个人，他们的技术分析不错，也懂心理学，但是他们觉得因为白天要上班，无法做到持续赢利，好像缺了什么似的。他们该怎么办？
Once you have a decent understanding of technical analysis； follow money management rules； and know the value of trading psychology； you need to develop new organizational skills。 You already possess the building blocks of success … now is the time to erect the structure of successful trading。
一旦你对技术分析有了深入了解，遵守资金管理的原则，并知道交易心理学，你还要发展新的组织技巧。成功的砖块你已经准备好了——现在要建立成功的交易。
There is no magic trick for converting a serious amateur into a professional trader。 What I offer you here is a recipe for intense and focused work which will enable you to move up to the ultimate stage of professional trading。
没有任何魔术可以把业余选手变成专业交易者。现在我提供的是让你成为专业交易者的工作方法。
CHAPTER EIGHT THE ORGANIZED TRADER
第8章 有条理的交易者
What is the single most important trait of a successful trader？ High intelligence？ Not really； even though some basic level of performance is required。 Good education？ Not quite； since many of the best traders haven’t gone past high school。 The trait that all winners have in mon is a very high level of discipline。 How can you measure your level and then increase it？ You do it by maintaining and learning from several sets of trading records。
成功交易者最重要的特点是什么？高智商？不是，虽然确实需要高水准的表现。良好的教育？也不是，很多优秀的交易者中学都没毕业。所有赢家的共同特点是高水准的纪律。你如何能计算你的水平并提高它呢？你可以从交易记录的几个方面来维持并从中学习。
Keeping good records is the single most important contribution to your success。 If you maintain scrupulous records； review them； and learn from them； your performance will improve。 If your money management is in place to ensure survival during the learning process； you’re sure to bee a success。
优秀的交易记录是成功的重要方面。如果你能认真做记录，认真复习并从中学习，你的成绩会提高。如果随后你的资金管理也没问题，你肯定会成功。
These are strong words； but my experience confirms them。 In the years of teaching Traders’ Camps； whenever I saw a person with good records； he was either a successful trader or soon became one。 I have found that women tend to keep better records than men； which is one of the reasons the percentage of winners among them is higher。 Records are more important to your success than any indicator； system； or technical tool。 Even the best system is bound to have some holes； but good records will allow you to find them and plug them up。
我的语气很肯定，我的经验也可以证明我的观点。我在交易者训练营讲课时发现，凡是认真做交易记录的都是成功的交易者，或者是将成为成功的交易者。我发现女生比男生要做的好，所以女赢家的比率比男生高。对你的成功来说，交易记录比任何指标，系统或技术工具都重要。再好的交易系统都有漏洞，但是好的交易记录能让你找到它们并修补漏洞。
A person who keeps detailed records makes a huge leap in his development as a trader。 Show me a trader with good records； and I’ll show you a good trader。 Bad traders keep bad records。 People who do not learn from the past are doomed to repeat it。 “I’ve been hit； insulted； spat upon； and abused … the only reason I stick around is to see what happens next。”
能详细做交易记录的人在交易中会有巨大进步。认真做交易记录的交易者就是优秀的交易者。表现不佳的交易者，他的交易记录也差。不从过去学习就意味着要重复错误。“我曾经被打倒过，被侮辱过，被吐过口水，被虐待过——我还不走的原因就是我想知道下一步如何。”
Good records let you learn from the pa