【導(dǎo)讀】Texas)，父母是愛爾蘭裔移民。少年時(shí)代的江恩在火車上賣報(bào)紙和送電報(bào)，還販賣明信片、食品、小飾物等。江恩被世人所津津樂道的輝煌事亦是1909年他在25個(gè)交易里賺了10. 這一年再婚的江恩接受當(dāng)時(shí)著名的《股票行情與投資文摘》雜志訪問。平均交易間隔是20分鐘。江恩大約賺取了5000萬美元的利潤。在今天，相當(dāng)于5億美元以上的數(shù)量。1902年，江恩在24歲時(shí)，第一次入市買賣棉花期貨。1906年，江恩到奧克拉荷馬當(dāng)經(jīng)紀(jì)，既為自己炒，亦管理客戶。在1908年，江恩30歲時(shí)，他移居紐約，成立了自己的經(jīng)紀(jì)業(yè)務(wù)。經(jīng)過多次準(zhǔn)確預(yù)測后，江恩。在雜志人員的監(jiān)察下，江恩在十月份的二十五個(gè)市。場交易日中共進(jìn)行286次買賣，結(jié)果，264獲利，22次損失，獲利率竟達(dá)%。究，并成立兩間走勢研究公司：江恩科學(xué)服務(wù)公司及江恩研究公司，出版多種投資通訊。江恩的數(shù)學(xué)方程并不復(fù)雜，實(shí)質(zhì)就是價(jià)格運(yùn)動(dòng)必然遵守支。江恩向每位參加者收取二千五百美元。們可以了解到更全面、更真實(shí)的江恩。

　　

【正文】 s to let a trade start going against you and lose back your profits. A STOPLOSS order will protect the profits and you can always get in again when you are out, with capital. Remember when you are out of the market the only thing you can lose or miss is an 52 years of experience has taught me that thousands of people have gone broke trying to hold on until the trend turned. Avoid getting out of the market too soon after move starts when you have a small profit. This can be a great mistake. Get out of the market quickly as soon as you see that you have made a mistake. If you place a STOP LOSS order this will put you out of the market automatically. 必須要象保護(hù)本金一樣用 “止損單 ”保護(hù)你的既得贏利。因?yàn)槟阋坏┇@利，這些利潤已經(jīng)變成你的資本，所以必 須要有止損意識(shí)。最危險(xiǎn)的事是你后面開始逆勢交易進(jìn)而造成利潤回吐。當(dāng)你止損出場依然有本金讓你有機(jī)會(huì)再次進(jìn)場，因?yàn)?“止損單 ”能始終保護(hù)你的利潤。記住，當(dāng)您在市場外面您唯一的損失只是失去或錯(cuò)過機(jī)會(huì)。我的 52 年經(jīng)驗(yàn)告訴我很多人由于在市場已經(jīng)發(fā)生轉(zhuǎn)勢時(shí)依然不清倉而導(dǎo)致破產(chǎn)。同時(shí)由于賺了些小錢不敢繼續(xù)持有而太早離開市場卻是犯了大錯(cuò)。當(dāng)然在你發(fā)現(xiàn)已經(jīng)犯錯(cuò)時(shí)要馬上設(shè)定 “止損單 ”自動(dòng)離場。 FIXED IDEAS AND FIXED PRICES 不要固執(zhí)已見 Never get a fixed idea of just how high any price is going to go or just how low they are going. Never buy or sell on a price that you fix because you may be trading on hope or fear and not following the trend of the market and applying rules which will determine when the trend is changing. 決不因?yàn)閮r(jià)格上升多高或者下跌多低都而固執(zhí)已見。當(dāng)市場趨勢改變時(shí)，你要應(yīng)用所有的規(guī)則順應(yīng)市場，決不在你期望和恐懼的價(jià)位進(jìn)行買賣交易。 TOO LATE OR TOO SOON 不要錯(cuò)過機(jī)會(huì) You can lose money or miss opportunity by getting into the market too soon or getting out too late. That is not waiting until a definite change in trend is indicated, or failing to act in time when you see a definite change in trend. Wait until you have a well defined indication that the trend is changed, then buy or sell. Follow all the rules in my book “How to Make Profits on Commodities”. There are many rules in my book “How to Make Profits Trading in Commodities”which are not in this course of instruction and by using all the rules you will make a greater success. 進(jìn)場太快或出場太慢將導(dǎo)致你虧損或者錯(cuò)過不少機(jī)會(huì)。當(dāng)你看到市場發(fā)出了明確的信號(hào)或在一定時(shí)間內(nèi)趨勢如果未發(fā)生明顯變化時(shí)不要再錯(cuò)過。一直等到有明確的信號(hào)出現(xiàn)時(shí)才進(jìn)行買賣。遵循我的《如何在商品市場中獲利》一書中的所有規(guī)則，其中的有不少規(guī)則是我的另外一本《如何在商品期貨交易中獲利》這本教程所沒有的，結(jié)合所有的規(guī)則你將會(huì)賺取更多的利潤。 HOPE AND FEAR 期望和恐懼 I repeat this because I have seen so many people go broke trading on hope or fear. You will never succeed buying or selling when you hope the market is going up or down. You will never succeed by making a trade because you fear the market is going up or down. Hope will ruin you, because it is nothing more than wishful thinking and provides no basis for action. Fear will often save you if you act quickly when you see that you are wrong. “The fear of the market is the beginning of wisdom”. Knowledge which you can only obtain by deep study will help you make a success. The more you study past records the surer you are to be able to detect the trend of the future. 我之所以反復(fù)聲明這些規(guī)則是因?yàn)槲铱吹讲簧偃嗽谄谕c恐懼交易而破產(chǎn)。當(dāng)你期望市場按你的意愿上漲或者下跌時(shí)決不會(huì)成功的。同時(shí)當(dāng)你對(duì)市場懷有恐懼心理而去交易時(shí)也不會(huì)成功。對(duì)市場異想天開和毫無依據(jù)的期望，最終將會(huì)毀滅你。 “對(duì)市場的敬畏是智慧起點(diǎn) ”， 經(jīng)常對(duì)市場經(jīng)常懷有敬畏之心那么你在犯錯(cuò)時(shí)卻能及時(shí)挽救你。通過深入研究市場之道將幫 助你獲得成功。不斷研究市場過去的走勢能幫你確定市場未來的趨勢。 MAKE THE MARKET MOVE YOUR WAY 永遠(yuǎn)不要一勞永逸 You must learn to realize that you cannot make the market go your way, you must go the market’s way and must follow the trend. Many successful business men who are accustomed to giving orders to others and have them carried out will often when they get into the market, especially for the first time, expect the market to follow their orders or move their way. They must learn that they cannot make the market trend go their way. They must follow the market trend as is indicated by fixed rules and protect their capital and profits by the use of STOP LOSS orders. There is no harm in making a few mistakes and a few small losses because small losses are the expense of a successful speculator. If you intend to make speculation a profitable profession you must learn all the rules and apply all of them to determine the trend. Professional men, such as lawyers, doctors, accountants and engineers spend years in training and a large amount of money to learn how to succeed in their chosen profession. You must spend time and money to learn the profession and bee a successful speculator or investor. 你要明白你不能左右市場，所以你必須不斷學(xué)習(xí)來順應(yīng)市場，跟隨趨勢。當(dāng)那些在傳統(tǒng)行業(yè)習(xí)慣于發(fā)號(hào)施令并讓別人執(zhí)行其指令的成功人士進(jìn)入市場時(shí)，尤其是初次進(jìn)入市場時(shí)經(jīng)常希望市場遵循他們的指令或按照他們的意愿變化。他們必須認(rèn)識(shí)到市場是不可能按照他們的意圖運(yùn)行的。他們必須遵從既定規(guī)則所顯示的市場趨勢并且通過設(shè)置 “止損單 ”來保護(hù)資金和利潤。犯一點(diǎn)錯(cuò)誤以及蒙受一點(diǎn)損失是沒有害處的，因?yàn)樯倭康膿p失是一個(gè)成功投機(jī)者的學(xué)費(fèi)。如果你打算進(jìn)入投機(jī)這門有利可圖的事業(yè)中你就要必須學(xué)會(huì)所有的規(guī)則并且應(yīng)用這些規(guī)則去確定趨勢。像律師、醫(yī)生、 會(huì)計(jì)以及工程師這樣的專業(yè)人員都要花費(fèi)多年時(shí)間和大量金錢去學(xué)習(xí)怎樣在自己選擇的職業(yè)中獲得成功。所以你也必須花費(fèi)時(shí)間和金錢去學(xué)此專業(yè)從而變成一個(gè)成功的投機(jī)者或投資人。 2020723 13:25 完成 HOWTO MAKE THE MOST MONEY IN THE SHORTEST PERIOD OF TIME 如何在最短的時(shí)間賺到大錢？ Most people want to get rich too quick, that is why they lose their money. They start speculating or investing without first preparing themselves or getting a Commodity education. They do not have the knowledge to start with and the result is they make serious mistakes which cost them money. When you do have knowledge and are prepared you can make the most money in the shortest period of time. You must learn to follow the rules which I have laid down and proved to you by examples that you can make a large amount of money in a short period of time when the market is at the right stage for fast advances and fast declines occur. 多數(shù)人希望快速致富，這就是他們虧損的原因。他們?cè)跊]有做好初步準(zhǔn)備或者沒有經(jīng)過交易培訓(xùn)的情況下開始投機(jī)或投資。他們沒有進(jìn)行交易所需要的知識(shí)，其結(jié)果就是造成嚴(yán)重的虧損，如果你擁有了知識(shí)并且做好了準(zhǔn)備，你可以在最短的時(shí)間內(nèi)賺到大錢。你必須學(xué)會(huì)遵從我制定并且已經(jīng)被很多事實(shí)證明過的規(guī)則，這樣你身處當(dāng)前快速上升或快速下降的市場中，短時(shí)間內(nèi)便能賺到大錢。 Do not try to lead the market or make the market. Follow the trend which is made by big men who make big money and you will make money. Buy when the big market makers are ready for prices to move up fast, sell when they are ready for prices to move down fast and you will make large profits in a short period of time. Trade only when the market shows a definite trend and trade according to definite