trading as a business

《trading as a business》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。

1、Prologue:WheretoBeginLet’sbeginwiththemarketsthemselves,andwithfearandgreed.Wehaveallheardtheclichesaboutfearandgreed.Theyrulethemarkets.Infact,that’sallthemarketsare—areflectionoftheseemotions.Inordertomakemoneytrading,youmustlearntocontrolyourfearandgreed.OvercomingFe

2、arandGreedWeallhavetodealwithourrunawayemotionsatvarioustimesinlife,andtheseemotionsreallybegintorunawaywhenwetrade.BillWilliams1usedtosayinhisseminarsthattradingwastheclearestwindowintoyourownpersonalpsychology,clearerthananyotherendeavor.Ithinkhewasright.UNDERSTANDING

3、THEMARKETSWegiveintoourfearwhenwedon’ttakethenexttradebecausewe’vejustbeenthroughastringoflosersandfearlosingagain.Wegiveintoourfearwhenweputourstoplosstoocloseandgetstoppedoutofatradewithoutgivingthetradeenoughroomtodevelop.Wegiveintoourfearwhenwefreezeasatradestartsto

4、losemoney,andwedon’ttaketheexitsignalbecausewe’reafraidoflosingmoney.Wegiveintoourgreedwhenwetakeaprofitearly,beforetheregularsignal,becausewedon’twanttogivebackanyoftheprofits.Wegiveintoourgreedwhenwetrademorecontractsorsharesthanwenormallywouldbecausewefeelgoodaboutth

5、istrade.8Prologue:WheretoBeginSowestartwiththequestion,“Howcanweunderstandthemarkets?”Ifweunderstandhowtheywork,wecangetabetterunderstandingofourselves,andinturnbebettertraders.Controllinggreedtakesdiscipline.Asfarasfear,PeterSteidlmayer2explainedinhisworkwithMarketProf

6、ilethatmarketsexistforonepurposeandonepurposeonly—theyexisttofacilitatetrade.Facilitatingtrademeansthatthemarketswilldoanythingtheycantogetindividualstoparticipateinthemarket.Howtheydothisisthroughmovement.Marketsmoveupanddownsearchingforbuyersandsellers.Thecrucialpoint

7、hereisthatmarketsmustmovefortheirsurvival.UnderstandingthisliterallychangedthewayIthoughtaboutthemarkets.Thinkaboutit.Marketshavetomove!Thisconceptismajorforanyonewhohashadtositthroughatrend-followingstrategytradinginasidewaysmarket.Theknowledgethatthemarkethastomoveeve

8、ntuallychangesthewayyoulookattrading.Itgivesyouconfidencethatthestringoflossescan’tcontinueindefinitely.Itelim