【正文】 rarely achieved.　　伍德儒威爾遜說過：一個政府的首要任務(wù)是把共有的利益組織起來以對抗特殊的利益。在現(xiàn)實(shí)中，這一政府的首要任務(wù)難得真正實(shí)現(xiàn)。成功的交易者尋求的市場機(jī)會就是建立在這樣的現(xiàn)實(shí)上的?！　?04. People who buy headlines eventually end up selling newspapers.　　那些相信報紙頭條的人最終的命運(yùn)就是賣報紙?！　?05. If you do not know who you are, the market is an expensive place to find out.　　如果你對自己缺乏了解，市場是一個昂貴的地方來發(fā)現(xiàn)你自己?！　?06. Never give advice—the smart don39。t need it and the stupid don39。t heed it.　　不要給別人出主意——聰明人不需要，傻瓜不會聽你的?！　?07. Disregard all prognostications. In the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future. Mark that word—nobody! Thus the successful trader bases no moves on what supposedly will happen but reacts instead to what does happen.　　無視所有的預(yù)言。金錢的世界是一個以人的行為勾畫出的世界。在金錢世界里，沒有一個人對將來會有絲毫的概念。記住這個詞的沒有一個人。所以，成功的交易者不是把自己的行動建筑在什么是應(yīng)該發(fā)生的上，而是對所發(fā)生的事而作出反應(yīng)?！　?08. Worry is not a sickness but a sign of health. If you are not worried, you are not risking enough.　　擔(dān)心不是病狀，而是健康的標(biāo)志。如果你不擔(dān)心，那就說明你承擔(dān)的風(fēng)險還不夠?！　?09. Except in unusual circumstances, get in the habit of taking your profit too soon. Don39。t torment yourself if a trade continues winning without you. Chances are it won39。t continue long. If it does console yourself by thinking of all the times when liquidating early preserved gains you would otherwise have lost.　　除了在不同尋常的情況里，養(yǎng)成早些兌現(xiàn)你的盈利的習(xí)慣。不要折磨你自己即使你出來之后那筆交易還在贏錢。非?？赡艿氖沁@不會延續(xù)很長。即使這種情況繼續(xù)下去，想一想所有由于你提前平倉而避免了失去既得盈利的場合。　　110. When the ship starts to sink, don39。t pray—jump!　　一旦船開始下沉，不要祈禱——跳船！　　111. Life never happens in a straight line. Any adult knows this. But we can too easily be hypnotized into forgetting it when contemplating a chart. Beware of the chartist39。s illusion.　　生活從來就不是一條直線。每一個成年人都知道這一點(diǎn)?？墒牵?dāng)我們在觀看圖表時太容易被引導(dǎo)得忘掉這一點(diǎn)。警惕圖表制作者創(chuàng)造的幻覺?！　?12. Optimism means expecting the best, but confidence means knowing how you will handle the worst. Never make a move if you are merely optimistic.　　樂觀主義意味著期望最好的情況發(fā)生。自信心意味著知道一旦最壞的情況發(fā)生你會怎樣處理。如果你只是樂觀而已，千萬不要輕舉妄動?！　?13. Whatever you do, whether you bet with the herd or against, think it through independently first.　　不管你做什么，不管你是隨流而下還是逆流而上，首先對你要做的事作一獨(dú)立的思考。　　114. Repeatedly reevaluate your open positions. Keep asking yourself: would I put my money into this if it were presented to me for the first time today? Is this trade progressing toward the ending position I envisioned?　　反復(fù)地重新衡量你的持倉頭寸。不斷地問自己：如果這是我今天第一次才看到的，我會投錢進(jìn)去嗎？這手交易是不是在向我想象的方向發(fā)展？　　115. It is a safe bet that the money lost by (short term) speculation is small pared with the gigantic sums lost by those who let their investments ride. Long term investors are the biggest gamblers as after they make a trade they often times stay with it and end up losing it all. The intelligent trader will . By acting promptly—hold losses to a minimum.　　可以這么說，比起那些讓他們的投資隨波逐流的人所損失的巨額款項(xiàng)來，（短線）的投機(jī)所損失的還是小數(shù)目。長線投資者在進(jìn)入交易之后，常常待著不走而最終全都輸?shù)?。在這種意義上，他們是最大的賭博者。智慧的交易者，通過及時采取行動，把損失限制在最小的范圍內(nèi)?！　?16. As a rule of thumb good trend lines should touch at least three previous highs or lows. The more points the line catches, the better the line.　　實(shí)際經(jīng)驗(yàn)證明，一條可信的市場動向曲線應(yīng)當(dāng)至少三次碰到先前的高峰點(diǎn)或低谷點(diǎn)。一條曲線能抓住的接觸點(diǎn)越多，這條曲線就越可信?！　?17. Volume and open interest are as important to the technician as price.　　對技術(shù)分析來說，交易量和持倉量同價格一樣重要?！　?18. The clearest and easiest way to determine a trend is from previous highs and lows. Higher highs and higher lows mark an uptrend, lower highs and lower lows mark a downtrend.　　確定市場動向的最清楚和最容易的方法是根據(jù)舊高和舊低。高于舊高和舊低標(biāo)志著向上的走向，低于舊高和舊低標(biāo)志著朝下的走向?！　?19. Don39。t sell a quiet market after a fall because a low volume sell－off is actually a very bullish situation.　　不要在一個剛經(jīng)過跌落的安靜的市場里賣。因?yàn)榈土髁康牡袑?shí)際上是一個非?？炊嗟奶幘?。　　120. Prices are made in the minds of men, not in the soybean field: fear and greed can temporarily drive prices far beyond their so called real value.　　價格是在人的頭腦里訂出來的，而不是在大豆田里訂出來的?？謶趾拓澙房梢园褍r格暫時推到遠(yuǎn)離所謂的實(shí)際價格之外?！　?21. When the market breaks through a weekly or monthly high, it is a buy signal. When it breaks through the previous weekly or monthly low, it is a sell signal.　　當(dāng)市場穿過一個星期或一個月的高位時，這是買的信號。當(dāng)它穿過前一星期或前一月低位時，這是賣的信號?！　?22. Every sunken ship has a chart.　　沒有一艘沉船是不備有圖表的?！　?23. Take a trading break. A break will give you a detached view of the market and a fresh look at yourself and the way you want to trade for the next several weeks.　　在交易之中不妨找個時間休息一下。休息一下可以讓你站在另一個角度上來看一看市場，讓你重新看一看你自己以及你在以后幾個星期內(nèi)想用的交易方法?！　?24. Assimilate into your very bones a set of trading rules that works for you.　　讓你每根骨頭的骨髓里都滲透一套對你有用的交易規(guī)則?！　?25. The final phase in a bull move is an accelerated runaway near the top. In this phase, the market always makes you believe that you have underestimated the potential bull market. The temptation to continue pyramiding your position is strong as profits have now swelled to the point that you believe your account can stand any setback. It is imperative at this juncture to take profits on your pyramids and reduce the position back to base levels. The base position is then liquidated when it bees apparent that the move has ended.　　一個牛市運(yùn)動的最后階段是一場接近頂部的加速賽跑。在這一階段，市場總是讓你相信你低估了潛在的牛市。隨著盈利膨脹到讓你相信你的賬戶可以對付任何挫折，繼續(xù)堆砌你的頭寸金字塔的誘惑強(qiáng)大。在這關(guān)鍵的時候，要緊的是從你的金字塔上拿走你的盈利，把你的頭寸減少到基本水平。隨后，當(dāng)這一運(yùn)動變得顯然結(jié)束了時，將這基本頭寸也平倉。20 / 2