Jesse Livermore's Trading Rules

陈江挺

• Stock Trading RulesJesse Livermore's Trading RulesHere are the stock trading rules that made Jesse Livermore's one of the world's greatest fortunes. Many successful stock and commodity traders still base their methods on these rules.
  Livermore constructed his rules over several years, while learning by trial and error what worked on the markets. He was guided by one of his favorite principles:
  "There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again."
  
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• Buy rising stocks and sell falling stocks.
• Do not trade every day of every year. Trade only when the market is clearly bullish or bearish. Trade in the direction of the general market. If it's rising you should be long, if it's falling you should be short.
• Co-ordinate your trading activity with pivot points.
• Only enter a trade after the action of the market confirms your opinion and then enter promptly.
• Continue with trades that show you a profit, end trades that show a loss.
• End trades when it is clear that the trend you are profiting from is over.
• In any sector, trade the leading stock - the one showing the strongest trend.
• Never average losses by, for example, buying more of a stock that has fallen.
• Never meet a margin call - get out of the trade.
• Go long when stocks reach a new high. Sell short when they reach a new low.
  

Other Useful Stock Trading Guidance

• Don't become an involuntary investor by holding onto stocks whose price has fallen.
• A stock is never too high to buy and never too low to short.
• Markets are never wrong - opinions often are.
• The highest profits are made in trades that show a profit right from the start.
• No trading rules will deliver a profit 100 percent of the time.
  

nvsdy

在炒股的智慧上陈先生都说过的。这次见到了原版的了，呵呵。

去天存然

•Stock Trading RulesJesse Livermore's Trading Rules
Here are the stock trading rules that made Jesse Livermore's one of the world's greatest fortunes. Many successful stock and commodity traders still base their methods on these rules.
Livermore constructed his rules over several years, while learning by trial and error what worked on the markets. He was guided by one of his favorite principles:
"There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again."

杰西•利物莫尔的股票交易规则
以下这些股票交易规则使得杰西•利物莫尔成为世界上最富有的人之一。许多成功的股票和商品交易者仍旧把它们的（交易）方法建立在这些规则之上。
利物莫尔花了多年时间，在市场摸爬滚打，从磨难和错误中，建立了他的这些规则。他用这些原则中最喜欢的一条做总纲：“华尔街没有新鲜事。投机乃人类天性，就像山丘那样古老，华尔街不可能有什么新鲜的。不论今天在股票市场上发生了何等匪夷所思的事情，都必定前有古人、后有来者。（本句取自丁圣元先生的翻译）”

去天存然

•买上涨中的股票，卖下跌中的股票。
•不要天天交易。只有行情明显看涨或看跌的时候才交易。交易方向与总体市场保持一致。总体市场上涨，做多；总体市场下跌，做空。
•交易步调必须与时间价格关键点相协调。
•等市场变化证明你的观点后再交易；交易则兵贵神速。
•如果交易有利润，继续持有；如果交易有亏损，从速了结。
•当事态明朗原来从中获利的趋势已经终结时，了结交易。
•做股票就做领头羊——走势最强的那一个。
•绝不平摊亏损的头寸，比如说某个股票已经被套还继续买进。
•绝不追加保证金，干脆平仓认赔。
•股价创新高，买进做多；股价创新低，卖出做空。
•股票下跌就放手，别炒股炒成股东。
•绝不因股价太高而不可买进；绝不因股价太低而不可卖出。
•看法千错万错，市场永远没错。
•盈利最多的交易往往一开头就有账面利润。
•没有百发百中的交易规则。
——丁圣元译《股票大作手回忆录》

flydog2013

这本书，我找了好久，找到一本电子版的原版，有要的朋友可以给留言。
丁圣元的翻译很一般，要研究的朋友最好看原版，顺便也学一点英语，把Livermore的话翻译成自己的话最好。

elep_elep

自问英文水平太差，丁圣元翻译的已经很贴切了，似是而非的翻译可能造成的误解更多，不是科班出身的同学慎重！