Time Tested Classic Trading Rules; By Linda b. Raschke

陈江挺

This is a list of classic trading rules that was given to me while on the trading floor in 1984. A senior trader collected these rules from classic trading literature throughout the twentieth century. They obviously withstand the age-old test of time.
I’m sure most everybody knows these truisms in their hearts, but this list is nicely edited and makes a good read.

• Plan your trades. Trade your plan.
• Keep records of your trading results.
• Keep a positive attitude, no matter how much you lose.
• Don’t take the market home.
• Continually set higher trading goals.
• Successful traders buy into bad news and sell into good news.
• Successful traders are not afraid to buy high and sell low.
• Successful traders have a well-scheduled planned time for studying the markets.
• Successful traders isolate themselves from the opinions of others.
• Continually strive for patience, perseverance, determination, and rational action.
• Limit your losses – use stops!
• Never cancel a stop loss order after you have placed it!
• Place the stop at the time you make your trade.
• Never get into the market because you are anxious because of waiting.
• Avoid getting in or out of the market too often.
• Losses make the trader studious – not profits. Take advantage of every loss to improve your knowledge of market action.
• The most difficult task in speculation is not prediction but self-control. Successful trading is difficult and frustrating. You are the most important element in the equation for success.
• Always discipline yourself by following a pre-determined set of rules.
• Remember that a bear market will give back in one month what a bull market has taken three months to build.
• Don’t ever allow a big winning trade to turn into a loser. Stop yourself out if the market moves against you 20% from your peak profit point.
• You must have a program, you must know your program, and you must follow your program.
• Expect and accept losses gracefully. Those who brood over losses always miss the next opportunity, which more than likely will be profitable.
• Split your profits right down the middle and never risk more than 50% of them again in the market.
• The key to successful trading is knowing yourself and your stress point.
• The difference between winners and losers isn’t so much native ability as it is discipline exercised in avoiding mistakes.
• In trading as in fencing there are the quick and the dead.
• Speech may be silver but silence is golden. Traders with the golden touch do not talk about their success.
• Dream big dreams and think tall. Very few people set goals too high. A man becomes what he thinks about all day long.
• Accept failure as a step towards victory.
• Have you taken a loss? Forget it quickly. Have you taken a profit? Forget it even quicker! Don’t let ego and greed inhibit clear thinking and hard work.
• One cannot do anything about yesterday. When one door closes, another door opens. The greater opportunity always lies through the open door.
• The deepest secret for the trader is to subordinate his will to the will of the market. The market is truth as it reflects all forces that bear upon it. As long as he recognizes this he is safe. When he ignores this, he is lost and doomed.
• It’s much easier to put on a trade than to take it off.
• If a market doesn’t do what you think it should do, get out.
• Beware of large positions that can control your emotions. Don’t be overly aggressive with the market. Treat it gently by allowing your equity to grow steadily rather than in bursts.
• Never add to a losing position.
• Beware of trying to pick tops or bottoms.
• You must believe in yourself and your judgement if you expect to make a living at this game.
• In a narrow market there is no sense in trying to anticipate what the next big movement is going to be – up or down.
• A loss never bothers me after I take it. I forget it overnight. But being wrong and not taking the loss – that is what does the damage to the pocket book and to the soul.
• Never volunteer advice and never brag of your winnings.
• Of all speculative blunders, there are few greater than selling what shows a profit and keeping what shows a loss.
• Standing aside is a position.
• It is better to be more interested in the market’s reaction to new information than in the piece of news itself.
• If you don’t know who you are, the markets are an expensive place to find out.
• 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 does not base moves on what supposedly will happen but reacts instead to what does happen.
• Except in unusual circumstances, get in the habit of taking your profit too soon. Don’t torment yourself if a trade continues winning without you. Chances are it won’t continue long. If it does, console yourself by thinking of all the times when liquidating early reserved gains that you would have otherwise lost.
• When the ship starts to sink, don’t pray – jump!
• Lose your opinion – not your money.
• Assimilate into your very bones a set of trading rules that works for you.
  

佳佳

英语都这么棒啊，套用天然的常用语，跪了。

☜王道☞

除非你犯了错，事后对号入座。一条一条都跑不了。

☜王道☞

太多了，没有意义。在做的时候我们是考虑不了这么多的。

如虞

谢谢存然的翻译

YAOJINBO

17
投机最难的是对自身的控制而不是去预测市场。成功的交易往往充满艰辛与挫折，因为实现成功交易最重要的影响因素是你自己。

这句不大好翻译，天然翻译的比较饶舌。

这句是新人  小雨学股   友情赞助

Andy

大家都来翻译吧，既然可提高英语，更可以加深自己的印象！
21.You must have a program, you must know your program, and you must follow your program.
你必须有个计划，必须清楚你的计划，而且必须遵守你的计划。
22.Expect and accept losses gracefully. Those who brood over losses always miss the next opportunity, which more than likely will be profitable.
心平气和的预期并且接受亏损。那些忧虑计较损失的人经常错失下一个机会，而这个机会更有可能获利丰厚。
23.Split your profits right down the middle and never risk more than 50% of them again in the market.
把你的利润一分为二，而且永远不要再拿其中一份的50%以上去市场冒险。
24.The key to successful trading is knowing yourself and your stress point.
成功交易的关键是了解你自己和你的压力承受临界点。
25.The difference between winners and losers isn’t so much native ability as it is discipline exercised in avoiding mistakes.
赢家和输家的区别不在于与生俱来的能力，而是对于避免犯错的纪律的训练。
26.In trading as in fencing there are the quick and the dead.
交易同击剑决斗一样，要么快速制敌，要么死亡。
27.Speech may be silver but silence is golden. Traders with the golden touch do not talk about their success.
演讲可能是白银，但沉默是金。触摸到真金的交易者很少谈论他们的成功。（是不是闷声发大财啊，呵呵。）
28.Dream big dreams and think tall. Very few people set goals too high. A man becomes what he thinks about all day long.
要有大的梦想和想的高远。很少有人设置过高的目标。一个人会成为他每天日思夜想成为的那个人。（是这样吗？不知道自己是否翻译出了原意。这是成功心理学吧，呵呵。）
29.Accept failure as a step towards victory.
接受失败是通向胜利的一步。
30.Have you taken a loss? Forget it quickly. Have you taken a profit? Forget it even quicker! Don’t let ego and greed inhibit clear thinking and hard work.
你曾亏损过吗，迅速的忘记它吧，你曾获利过吗？更迅速的忘记吧。不要让自负和贪婪阻止了清晰的思考和努力奋斗。

徐小侠

继续翻译，谢谢！

YAOJINBO

存然让翻译的，竟然把我的翻译T掉。。。。

YAOJINBO

19.
记住这句话吧，我的孩子“空头市场往往来的疾风暴雨，而多头市场的建立则常常循序渐进。”

去天存然

41.Never volunteer advice and never brag of your winnings.
绝不推荐（某某操作）以及炫耀自己的盈利。
42.Of all speculative blunders, there are few greater than selling what shows a profit and keeping what shows a loss.
在所有投机的错误当中，没有比卖掉盈利的头寸而持有亏损的头寸更严重的了。
43.Standing aside is a position.
空仓也是一种操作。
44.It is better to be more interested in the market’s reaction to new information than in the piece of news itself.
关注市场对新闻是如何反应的，比新闻本身更重要。
45.If you don’t know who you are, the markets are an expensive place to find out.
如果你不了解自己，市场可以帮你了解。
46.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 does not base moves on what supposedly will happen but reacts instead to what does happen.
金钱的世界里，人的行为构造了走势，没有人有能力知道未来会发生什么。记住——没有人！因此成功的交易者的行为并非基于猜测未来走势，而是对当下已经发生（的行情）的反应。
47.Except in unusual circumstances, get in the habit of taking your profit too soon. Don’t torment yourself if a trade continues winning without you. Chances are it won’t continue long. If it does, console yourself by thinking of all the times when liquidating early reserved gains that you would have otherwise lost.
除非特殊情况，尽快获利了结。如果一笔交易能持续获利而没抓到也别丧气。机会很可能不会持久，如果持久了，想想你所有时间已经到手的盈利，如果不过早止盈，他们就要变成亏损了。
48.When the ship starts to sink, don’t pray – jump!
当船开始下沉的时候，别祈祷——跳水！
49.Lose your opinion – not your money.
放弃你的观点——而不是你的钱。
50.Assimilate into your very bones a set of trading rules that works for you.
把一些对你有用的交易规则消化吸收融入血液。