投资组合管理技术 Portfolio Management Technique.pptVIP

Investment Process : Trading System Rules For Trading In stocks Determining the Trend Buy at Single, Double and Triple Bottoms Buy and Sell on Percentages Buy and Sell on 3 Weeks’ Advance or Decline Market Moves in Sections Buy or Sell on 5 to 7 Point Moves Volume of Sales Time Periods Buy on Higher Tops and Bottoms Change in Trend in Bull Market Safest Buying and Selling Points Price Gains in Fast Moves 45 Years In Wall Street William D. Gann Investment Process : Trading System Twenty-four never-failing rules Amount of capital to use : Divide your capital into IO equal parts and never risk more than one-tenth of your capital on any one trade. Use stop loss orders. Always protect a trade when you make it with a stop loss order 3 to 5 points away. Never overtrade. This would be violating your capital rule. Never let a profit run into a loss. After you once have a profit of 3 points or more, raise your stop loss order so that you will have no loss of capital. Do not buck the trend. Never buy or sell if you are not sure of the trend according to your charts. Investment Process : Trading System When in doubt, get out, and don’t get in when in doubt. Trade only in active stocks. Keep out of slow, dead ones. Equal distribution of risk. Trade in 4 or 5 stocks, if possible. Avoid tying up all your capital in any one stock. Never limit your orders or fix a buying or selling price. Trade at the market. Don’t close your trades without a good reason. Follow up with a stop loss order to protect your profits. Accumulate a surplus. After you have made a series of successful trades, put some money into surplus account to be used only in emergency or in times of panic. Never buy just to get a dividend. Never average a loss. This is one of the worst mistakes a trader can make. Never get out of the market just because you have lost patience or get into the market because you are anxious from waiting. Investment Process : Trading System Avoid taking small profits