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me of your paper profit。 A professional trader never lets a profit turn into a loss。
你应该只用一种方式移动止损，那就是顺着赢利的方向。当市场朝有利的方向运动时，将先前的止损单设置为保本止损。在有利趋势前进的时候，一路移动止损以保护你的账面利润。专业交易者永不让赢利变成亏损。
A stop may never expose more than 2％ of your equity to the risk of loss （see Chapter 7； “Money Management Formulas”）。 If Triple Screen flags a trade but you realize that a logical stop would risk more than 2％ of your equity； skip that trade。
止损的风险不能超过总资金的2％（请看“第07章，资金管理公式”）。如果三重滤网发出交易信号，经过计算，认为这笔交易采用合理的止损，亏损会超过资金的2％，那么就放弃这笔交易。
Set profit targets。 Profit targets are flexible and depend on your goals and capital。 If you are a well…capitalized； long…term…oriented trader； you may build up a large position at an early stage of a bull market； repeatedly taking buy signals from the daily charts； as long as the weekly trend is up。 Take your profits after the weekly EMA turns flat。 The reverse applies to downtrends。
设置利润目标。设置赢利目标时要灵活，这取决于你的目标和资金情况。如果你的资金充裕，并且是长线交易者，则在牛市的开始阶段建立一个较大的仓位，在周线图趋势看涨的前提下，在日线图出现买入机会时连续建仓。在周线图均线走平时兑现利润。下跌则反之。
Another option is to take profits whenever prices on the daily charts hit their channel line。 If you go long； sell when prices hit the upper channel line and look to reposition on the next pullback to the daily moving average。 If you go short； cover when prices fall to their lower channel line and look to reposition short on the next rally to the EMA。
另一种做法就是当日线图价格碰到通道线时兑现利润。如果你做多，则在价格碰到通道上线时兑现利润，并在价格回调到日均线时做多。如果你做空，则在价格下跌到通道下线回补，并在价格再次反弹到均线时做空。
A short…term…oriented trader can use the signals of a two…day EMA of Force Index to exit trades。 If you buy in an uptrend when the two…day EMA of Force Index turns negative； sell when it turns positive。 If you go short in a downtrend after the two…day EMA of Force Index turns positive； cover when it turns negative。
短线交易者会采用2日均线力量指数作为出场依据。如果你在上涨趋势中，在2日均线力量指数是负数时买入，在变为正数时卖出。如果在下跌趋势中，在2日均线力量指数是正数时做空，并在变为负数时回补。
Beginners often approach markets like a lottery … buy a ticket and sit in front of the TV to find out whether you have won。 You will know that you are being a professional when you start spending almost as much time thinking about exits as looking for entries。
新手做交易的方式就像买彩票——买完彩票后，就呆坐在电视前看他是否中彩。如果你花在研究进场的时间和花在研究出场的时间一样多，那么你就成为专业人士了。
SCREEN THREE
第三重滤网
The third screen helps us pinpoint entry points。 Live data can help savvy traders but hurt beginners who may slip into day…trading。
第三重滤网帮助我们制定精确的进场点，即时数据会帮助聪明的交易者，但伤害了新手，新手很容易去做日内交易。
Use an intraday breakout or pullback to enter trades without real…time data。 When the first two screens give you a buy signal （the weekly is up； but the daily is down）； place a buy order at the high of the previous day or a tick higher。 A tick is the smallest price fluctuation permitted in any market。 We expect the major uptrend to reassert itself and catch a breakout in its direction。 Place a buy order； good for one day only。 If prices break out above the previous day’s high； you will be stopped in automatically。 You do not have to watch prices intraday； just give your order to a broker。
利用日内的突破或回调进场，不要使用即时数据。当前两重滤网发出买入信号时（周线上涨，但日线下跌），在前一天的最高点或比最高点高一个基点的地方下单买入。基点是市场允许的最小的变动单位。我们期待主趋势继续上涨并且在价格发生突破时进场。这种下单方法，只适用于当天的交易。如果价格突破前一天的最高点，你要自动设置止损。交易者不必死盯日内的价格波动，将订单交给经纪人处理就行了。
When the first two screens tell you to sell short （the weekly is down； but the daily is up）； place a sell order at the previous day’s low or a tick lower。 We expect the downtrend to reassert itself； and try to catch the downside breakout。 If prices break below the previous day’s low； they will trigger your entry。
在前两重滤网提示做空时（周线下跌，但日线反弹，），在前一天的最低点或比最低点低一个基点处下单做空。我们期待再次下跌，并在突破时进场。如果价格突破了前一天的最低点，那么你就进场了。
Daily ranges can be very wide； and placing an order to buy at the top can be expensive。 Another option is to buy below the market。 If you are trying to buy a pullback to the EMA； calculate where that EMA is likely to be tomorrow and place your order at that level。 Alternatively； use the SafeZone indicator （see page xx） to find how far the market is likely to dip below its previous day’s low and place your order at that level。 Reverse these approaches for shorting in downtrends。
日内波动可能很大，因此在顶部下单做多很昂贵。另一种选择就是在市场之下买入。如果你打算在价格回调到均线时买入，计算出第二天均线可能要到达的位置，在附近下单。也可采用安全区域指标计算出市场可能跌破前一天最低点的距离，并在附近下单。下跌时则反之。
The advantage of buying upside breakouts is that you follow an impulse move。 The disadvantage is that you buy high and your stop is far away。 The advantage of bottom fishing is that you get your goods on sale and your stop is closer。 The disadvantage is the risk of getting caught in a downside reversal。 A “breakout entry” is more reliable； but profits are smaller； a “bottom…fishing entry” is riskier； but the profits are greater。 Make sure to test both methods in your markets。
上涨突破时买进的优势是跟随了冲动的波动。劣势是买进的位置高，止损太远。回调买进的优势是买的点位较低，并且止损很近。劣势是容易遭遇反转下跌。“突破进场”比较可靠，只是利润较少。“回调进场”风险较大，但利润很多。你要保证在市场测试2种方法。
Use real…time data； if available； for entering trades。 When the first two screens give you a buy signal （the weekly is up； but the daily is down）； use live data to get long。 You could follow a breakout from the opening range； when prices rally above the high of the first 15 to 30 minutes of trading； or apply technical analysis to intraday charts and finesse your entry。 When trying to short； you may enter on a downside breakout from the opening range。 You could also monitor the market intraday and use technical analysis to enter into a short trade； using live charts。
尽量用即时数据进场。当前二重滤网给出买入信号时（周线上涨，但日线下跌），利用即时数据做多。你可以跟踪开盘后交易区间的突破，当开盘15分钟到30分钟后，价格发生向上突破时进场，或者采用技术分析，分析日内图以确定合适的进场点。如果你要做空，则在开盘后交易区间向下突破时进场。或者通过分析日内图寻找机会，并采用即时数据进场。
The techniques for finding buy and sell signals on real…time charts are the same as on daily charts； only their speed is much higher。 If you use weeklies and dailies to get in； use them also to get out。 Once a live chart gives an entry signal； avoid the temptation to exit using intraday data。 Do not forget that you entered that trade on the basis of weekly and daily charts； expecting to hold for several days。 Do not be