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！
次一致向上，然后几周内股价翻番了。这种一致的，稳定上涨的周均线一直在告诉我们买入联合游戏。
At the right edge of the chart； the weekly EMA keeps trending higher； but wildly volatile price action shows that the easy portion of the uptrend is over。 MACD…Histogram is moving opposite the EMA； warning of high volatility ahead。 The relatively easy money is off the table。
在图的右边，周均线继续上涨，但是剧烈波动的价格表明稳定的上涨已经结束。稳定的收益已经不存在了。
SCREEN TWO
第二重滤网
Return to the intermediate chart and use oscillators to look for trading opportunities in the direction of the long…term trend。 When the weekly trend is up； wait for daily oscillators to fall； giving buy signals。 Buying dips is safer than buying the crests of waves。 If an oscillator gives a sell signal while the weekly trend is up； you may use it to take profits on long positions but not to sell short。
返回到中期图表，并且采用振荡指标来寻找顺应长期趋势方向的交易机会。当周线趋势看涨时，等待日线振荡指标回落并发出买入信号。在回调时买进，比在浪顶买入要安全。周线看涨，而日线振荡指标看跌时，也可以把先前的多单平仓，获利出局，不过，交易者不能在此位置建立空头仓位。
Figure 6。2 Triple Screen … Daily Chart
图6。2 三重滤网——日线图
The uptrend on the weekly chart keeps telling us to trade ALLY from the long side or stand aside。 With the daily EMA also rising； we have several options。 We may buy when prices pull back to their rising daily EMA； or when short…term Force Index dips below zero。 The upper channel line provides a logical profit…taking target。 An experienced trader can pyramid his position； adding to it whenever a new buy signal appears and only tightening stops instead of exiting at the upper channel。 That channel keeps getting wider as prices rise … from 10 points wide in April to 16 in July。
周线图上的上涨一直告诉我们要做多联合游戏，或者观望。日线图上均线也在上涨，我们有几个选择。日线图中当价格回调到上涨的均线时买入，或者当短期力量指数跌到0以下买入。通道上线是合理的利润目标。有经验的交易者会金字塔加仓，当新的买入信号出现时加仓，做好止损，而不是在通道上线出场。当价格上涨时通道在变宽——从4月的10点增大到7月的16点。
At the right edge of the chart； the alternating spikes of Force Index warn traders that the days of relatively easy money are over。 The market has bee hysterical； and the likelihood of trend continuation is low。 Better bank your winnings and go look for another stock in another group that is rising or falling quietly； not yet discovered by the market crowd。
在图的右边，力量指数指针在变化，它告诉交易者轻松赚钱的日子已经过去了。市场已经疯狂，趋势延续的概率不大了。最好是把利润存进银行，从其它股票池里找到正在慢慢上涨或下跌的股票，最好大众还没有发现。
When the weekly trend is down； look for daily oscillators to rise； giving sell signals。 Shorting during upwaves is safer than selling new lows。 When daily oscillators give buy signals； you may use them to take profits on shorts but not to buy。 The choice of oscillators depends on your trading style。
当周线图趋势下跌时，等待日线图振荡指标上涨并发出做空信号。在反弹时做空，要比创新低时进场做空安全。当日线的振荡指标发出买入信号时，可以把空单平掉，获利出局，不过不应当在此建立多头仓位。振荡指标的选择，取决于你的交易风格。
For conservative traders； choose a relatively slow oscillator； such as daily MACD…Histogram or Stochastic； for the second screen。 When the weekly trend is up； look for daily MACD…Histogram to fall below zero and tick up； or for Stochastic to fall to its lower reference line； giving a buy signal。
保守的交易者会选择一个相对慢速的振荡指标，例如日线上的MACD柱或随机指标，以用于第二重滤网的分析。当周线图趋势上涨时，等待日线图MACD柱回落至0轴之下，并再度上涨时，或者等随机指标回落到超卖区发出买入信号时寻找做多机会。
Reverse these rules for shorting in bear markets。 When trend…following indicators point down on the weekly charts； but daily MACD…Histogram ticks down from above its zero line； or Stochastic rallies to its upper reference line； they give sell signals。
下跌市场则反之。当周线图的趋势指标表明趋势下跌，则日线图的0轴之上MACD柱掉头下跌，或者随机指标上涨到超卖线并且发出做空信号时寻找做空机会。
A conservative approach works best during early stages of major moves； when markets gather speed slowly。 As the trend accelerates； pullbacks bee more shallow。 To hop aboard a fast…running trend； you need faster oscillators。
在主要趋势的早期阶段，慢速振荡指标效果颇佳，此阶段价格运行较为迟缓。而在趋势的加速期，价格拉回修正的幅度较浅，要想跳上快速运动的趋势，交易者需采用快速的振荡指标。
For active traders； use the two…day EMA of Force Index （or longer； if that’s what your research suggests for your market）。 When the weekly trend is up and daily Force Index falls below zero； it flags a buying opportunity。
积极的交易者可采用2日均线力量指数（参数可长一些，依据对市场的研究，得出最优化的均线参数。）。周线图趋势上涨，日线图上的力量指数回落到0轴之下，它给出了买入信号。
Reverse these rules for shorting in bear markets。 When the weekly trend is down and the two…day EMA of Force Index rallies above zero； it points to shorting opportunities。
下跌市场则反之。周线图趋势下跌，2日均线力量指数上涨到0轴之上，它指出了做空机会。
Many other indicators can work with Triple Screen。 The first screen can also use Directional System or trendlines。 The second screen can use Momentum； Relative Strength Index； Elder…ray； and others。
其它指标也可应用于三重滤网，第一重滤网可采用方向系统或趋势线。第二重滤网可采用动能指标，相对强弱指标，艾尔德射线指标等等。
The second screen is where we set profit targets and stops and make a go–no go decision about every trade after weighing the level of risk against the potential gain。
在第二重滤网设置利润目标和止损点，并在计算风险与潜在的收益之后，做出是否交易的决定。
Set the stops。 A stop is a safety net； which limits the damage from any bad trade。 You have to structure your trading in such a way that no single bad loss； or a nasty series of losses； can damage your account。 Stops are essential for success； but many traders shun them。 Beginners plain about getting whipsawed； stopped out of trades that eventually would have made them money。 Some say that putting in a stop means asking for trouble because no matter where you put it； it will be hit。
设置止损。止损是安全网，它会限制糟糕交易的破坏。你必须管理好你的账户，以防止一笔或一连串的不利交易带来的亏损毁掉账户。止损是成功的关键，然而许多交易者却回避它。新手抱怨止损就是被洗，认为如果不设止损，最终会获利。一些人说设止损就是自找麻烦，因为不管在哪里设止损，市场一定会扫掉他们的止损单。
First of all； you need to place stops where they are not likely to be hit； outside of the range of market noise （see SafeZone on page xxx）。 Second； an occasional whipsaw is the price of long…term safety。 No matter how great your analytic skills； stops are always necessary。
首先，你要在市场不易扫掉的位置设止损，将止损设置在市场噪音之外（请看安全区域）。其次，偶尔发生的洗盘，是为长期安全付出的成本。无论你的分析能力多么强，止损都是必须的。
You should move stops only one way … in the direction of the trade。 When a trade starts moving in your favor； move your stop to a breakeven level。 As the move persists； continue to move your stop； protecting some of your paper profit。 A professional trader never lets a profit turn into a loss。
你应该只用一种