江恩老先生,曾經(jīng)強調(diào)不要在指數(shù)上畫過多的時間,你只需要明白指數(shù)代表著每一只個股的位置和狀態(tài),舉個例子,保險業(yè)的平均數(shù)的使用法則,保險的計算師可以計算10000個不同年齡的人,并告訴你他們之中每年將會有多少人死去,但是計算師他不可能推算出每個人什么時候?qū)廊?,事實上不同時間出生的人聚集在一起可以根據(jù)平均計算得出平均出生率,那么股票也一樣,他們的上市日期不一樣,產(chǎn)業(yè)定位也不同,環(huán)境條件也不同,所以他們之中畢將會有一些與指數(shù)形成相反方向運行的,這也是自然本性的因素。
Therefore, in order to get a reliable Forecast, each company and its stock must be analyzed separately, judged and forecast individually and not collectively."?
因此,要想獲得一個可靠的預(yù)測,每一個公司和它的股票都必須單獨分析,單獨判斷和預(yù)測而不是從總體上去這樣做。
1.Leave queer-acting stocks alone. Stick to the ones that favor you.?
離那些走市古怪的股票遠遠的,牢牢沾住一個你能很好把握的股票?
"The kind of stocks to trade in are those that are active and those that follow the rules and a definite trend. There are always queer acting stocks and some stocks that don^t follow the rules. These stocks should be left alone." W. D. Gann, New Stock Trend Detector, p. 34?
適合交易的股票種類是那些活躍的并且跟隨法則具有明確趨勢的那些股票。那些走市總是很古怪的股票和那些不跟隨法則的股票,我們應(yīng)該讓它們自己去表演。?
" When you find that a stock does not seem to work well for you, leave it alone. Quit trading in it, and stick to the ones that favor you. I could explain to you the cause for this, but it is not necessary, and many of you would not believe it.?
當你發(fā)現(xiàn)一個股票并不象你分析的那樣運行時,就請離開它,退出在它上面的交易,而要去粘住一個適合你的你能很好把握的股票。我可以解釋這其中的原因,但不是必須的,你們其中的很多人也未必相信這個解釋。?
It makes no difference whether you know or do not know the reason why a thing works or does not work; just as soon as experience teaches you that there is something that works against you, the only thing to do is quit." W. D. Gann, Truth of the Stock Tape, p. 75?
你是否知道為什么一件事情發(fā)生或不發(fā)生的理由是沒有太大差別的。你只需要讓經(jīng)驗事實告訴你有些東西正在和你對著干就足夠了,你僅僅需要的是退出。?
2.Know when to quit. Determine when your trend is changing one way or the other.?
知道什么時候退出。當你的交易趨勢正在變化時你有辦法知道。?
"A man^s life runs in cycles just the same as stocks. He reaches his apex and does not know it. His time for money making ends, and he should keep what he has already made, rather than try to make more.?
一個人的生命在一個循環(huán)中運行就象股票一樣。他到達他的頂點但他自己并不知道。他賺錢的時間結(jié)束了,他要保存住他先前所獲得的要比他努力賺更多更重要。?
There is a seasonal trend and a mathematical scientific cycle which determines the time and limits to which a man can go and when he bucks the law and the tide turns against him. The most important thing for every man to know is when to quit. After a man has made money, he must know when he has enough, stop and keep what he has. …?
一個周期性季節(jié)性的趨勢和數(shù)學(xué)的科學(xué)循環(huán)確定了一個人可以到達的時間和范圍,以及什么時候它違反法則使得趨勢向與他預(yù)期的相反方向的逆轉(zhuǎn)。對每個人來說最重要的事情是知道什么時候退出。在一個人賺到錢后,他必須知道什么時候就足夠了,什么時候停止并保持他所擁有的。?
"Man^s seasonal trend changes just as the market and he has his good and bad cycles. By keeping a record of your own trades, you can determine when your trend is changing one way or the other. I have been able to make as many as 200 consecutive trades without a loss. If I had no way to forecast it, what sign should I watch to tell when the tide had turned against me and I should get out and wait? The first indication that something was wrong would be the first trade on which I made a loss. …?
人類的季節(jié)性趨勢變化正象這個市場一樣有好的和壞的循環(huán)。通過對你自己的交易記錄,你可以測定什么時候你的個人趨勢的變化。我可以連續(xù)200次交易不會有一點損失。假如我沒有預(yù)測市場的方法,我怎么能在趨勢已經(jīng)向我預(yù)期的方向發(fā)生逆轉(zhuǎn)的時候發(fā)現(xiàn)一些跡象并作出賣出或觀望的決策呢?首要的是在第一次交易時就不要使自己失敗和損失……?
"There is no use staying in, holding on and hoping, when things go against you. Take your loss quickly and get out. You will make money by staying out of the market and waiting for an opportunity when the market is right, your physical condition good and your mind at its best. To beat the stock market is a battle of wits. Your mind must be active, keen and alert. You must be able to change your mind and act quickly. When you find that your mind gets sluggish and you cannot act quickly, you are in no position to be in the market." W. D. Gann, Wall Street Stock Selector, pp. 34, 35?
當趨勢離你而去的時候,死撐毫無意義,抱著僥幸沒有一點用。盡快承認損失并離開市場。你將因為離開市場來“賺”到一筆錢,并等待適合你的市場機會,這樣你的物質(zhì)條件良好,心態(tài)也不錯。打敗市場是一個智力的戰(zhàn)爭,你的心態(tài)要積極,敏銳,警覺。你要學(xué)會快速的調(diào)整改變你的心態(tài)和行為。當你的心態(tài)變的遲緩,你的行動就會失去果斷快速,你在市場里就根本無法立足。