hi everyone welcome to webinar 4 大家好，欢迎收看网络研讨会 4
of the Oliver Kell Swing Traymaster class 奥利弗-凯尔摇摆式托盘大师课程的第4次网络研讨会
we're so excited to have you here 我们很高兴您能来到这里
and this is going to be definitely a good one 这将是一次精彩的课程
focus on cell criteria and wrist management 关注细胞标准和手腕管理
to start things off 首先
we've got a little bit of a disclaimer here 我们在这里有一点免责声明
Oliver if you 奥利弗
could go the next slide 请看下一张幻灯片
keep in mind the content presented is for 请记住，所展示的内容仅供
informational and educational purposes only 仅供参考和教育之用
and nothing contains this webinar 本网络研讨会的任何内容
should be construed as financial advice 不应被视为金融建议
please do your own dujillions and or 请自行决定，或
contact a license financial advisor 联系持牌金融顾问
as participating in the financial markets involves risk 参与金融市场涉及风险
additionally reproduction and distribution 此外，复制和分发
in any form of this presentation are recording 未经 trailerline 书面许可，不得以任何形式复制和传播本演示文稿。
without the written permission of trailerline 未经 trailerline
or Aviquel is especially prohibited 或 Aviquel 的书面许可，严禁以任何形式复制和传播本演示文稿
here's a brief overview of the webinar series 以下是系列网络研讨会的简要概述
we're on webinar for already 我们已经在网络研讨会上
it's amazing we've come this far 我们能走到今天这一步已经很了不起了
and as I said today 正如我今天所说
we're really focusing on 我们真正关注的是
self criteria and risk management 自我标准和风险管理
so please keep your questions focus on 所以请把问题集中在
this specific topic 这个特定主题
for this webinar 网络研讨会
and webinar 5 is building on a bunch of the 第 5 次网络研讨会将以我们讨论过的许多内容为基础
stuff we talked about 我们谈到的内容
ready champion mindset position sizing 准备就绪的冠军心态
a little bit of everything 所有内容
in webinar five 网络研讨会五
in terms of today's agenda we'll be talking about 就今天的议程而言，我们将讨论
a whole bunch of stuff 一大堆东西
that puts together forms risk management 风险管理的形式
stop losses initial stop loss placement 止损
and then sell rules as well 以及卖出规则
and at the end we'll go through a 最后我们将通过
ton of different examples in charts 大量不同的图表示例
to really kind of take everything 将一切
and put everything together 并将所有内容整合在一起
and yes 100 percent this will be recorded 是的，百分之百会录制下来
so if you have to walk away 所以如果你必须离开
or can't make the entire thing don't 或者不能全程参与，也不用
don't worry at all 完全不用担心
this will be recorded in archive 这将被录制成档案
for you to watch as many times as you want 供您随意观看
on the website 网站上观看
all right thanks Richard 好的，谢谢理查德
appreciate the intro 感谢您的介绍
let's just pop right into it 我们马上开始吧
so as Richard said today is gonna be 正如理查德所说，今天的主题是
you know about stop losses position management 止损和仓位管理
and selling 和卖出
this is in my opinion 在我看来
the most difficult part of trading 交易中最困难的部分
because oftentimes when you're selling 因为很多时候当你卖出时
you know you're kind of fading your own emotion 你知道你在淡化自己的情绪
you know 你知道
you're letting go of a good position that's done well 你在放弃一个表现不错的仓位
for you 你
or you're cutting a losing position which 或者你正在割掉一个亏损的头寸
you know people hate to lose money right 你知道人们讨厌亏损
but 但
it is also likely the most important part of trading 但这也可能是交易中最重要的部分
so I'm just going to start off by kind of explaining 所以我首先要解释一下
what I think the three 我认为三种
different types of stop losses are 不同类型的止损
but then the key is here at the top 但最关键的
is the highlight that stop losses allow you to control 止损可以让你控制
the risk reward equation 风险回报等式
so you know 所以你知道
there's a lot of people who are buying hold who 有很多人都在买入持有的股票。
trust me I get the messages all the time 相信我，我经常收到这样的信息
like don't use stops all 比如不要使用止损
all that stuff 之类的话
and that's fine 这很好
but it's just not my strategy 但这不是我的策略
so my strategy is you know I'm a traitor 所以我的策略就是 你知道我是个叛徒
and my 我的
goal is to control that rich reward relationship 我的目标是控制这种丰厚的回报关系
and it's what I mean by that 我的意思是
is really the only thing you can 在交易中
control in trading is 就是
literally how much you're risking 你的风险有多大
you don't have control over anything else 你无法控制其他任何事情
if you can control that 如果你能控制这一点
and then try to put yourselves in positions 然后尽量让自己处于
where there's a potential 潜在的
reward that's a multiple of your risk 回报是风险的倍数
and you can 你们可以
you know work that over and over and over again 你们知道，要不断地重复这样的工作
you know through time 随着时间的推移
hopefully you can kind of make yourself the house 希望你能让自己成为赌场的主人
like the casino 就像赌场一样
so the 3 different types of stop losses for me 对我来说，止损有三种不同类型
are the initial stop loss 是初始止损
it literally allows you to 它可以让你
understand how much principal risk 了解本金风险有多大
you're going to be taking 你将承担多少本金风险
it allows you to determine the position size 它能让你确定
that you're going to be taking on a specific position 你将在特定仓位上采取的措施
and then when you know the 当你知道
risk on that position in your position size 仓位规模的风险
it allows you to also manage your portfolio 它还能让你管理你的投资组合
in the sense that 在这个意义上
you can look at the risk you have on multiple positions 你可以查看多个仓位的风险
and understand your overall portfolio risk 并了解你的整体投资组合风险
secondly is the rising stop loss 其次是上升止损
so 因此
this is the stop loss that allows you to protect your 止损可以保护您的未结利润。
open profits it also allows you to understand 它还能让您了解
how much potential pressure your portfolio 您的投资组合
could be taking 会承受多大的潜在压力
if all your positions were to stop out 如果您的所有头寸都止损
so via your initial stop loss and your rising stop loss 因此，通过初始止损和上升止损
you should be able to calculate 您应该能够计算出
literally how much could I lose 如果我的所有仓位都止损了
if all my positions stop out 如果我的所有头寸都止损
then lastly is your final stop loss 最后是您的最终止损
and this allows you to exit positions 这可以让您退出
that may have run their course 这可以让您退出可能已经执行完毕的仓位
the reason this is important 这一点之所以重要
is because by going to cash when those positions have 因为当这些头寸已经
made their move 移动
we're 我们
able to reallocate that capital to new opportunities 我们就能把资金重新分配给新的机会
so 所以
the types of stop losses for me are your initial stop 对我来说，止损的类型是初始止损
loss your rising 止损
call it your position management stop loss if you will 如果你愿意，可以称之为仓位管理止损
and then your exit stop loss 然后是离场止损
and really they all help to 它们都有助于
either protect your principle 保护你的原则
they really 它们真的
all help to protect your principle at all times 都有助于随时保护你的原则
because once the positions move 因为一旦仓位移动
your principle is increasing and you want to 你的原则就会增加，你就想
protect those gains 保护这些收益
so next 所以接下来
would just feed a highlight that stop losses move up 就是要突出止损向上移动
but never down 但绝不会下降
so I think one of the mistakes that 所以我认为
beginners and even more advanced people 初学者甚至更高级的人
anybody can make is 任何人都可能犯的一个错误是
got a stop loss in there and 设置了止损
you know then the stock approaches it and 然后股票接近止损点
I really like this stock 我真的很喜欢这只股票
you know I 你知道我
I I'm gonna give it a little more room you know 我要给它多一点空间
and that's that's a mistake 这是个错误
you know if you've 如果你已经
analyze 分析
your charts and your positions and you've determined 如果你分析了图表和仓位，并确定
hey this is where my stop should be 这就是我的止损点
you know it should only move up 你知道它只能向上移动
it should never move down 不应该向下移动
so those are the 这些就是
most important things I want you to take away 我希望你能从这张幻灯片
from this slide 最重要的东西
and then just next you know some some 接下来
you know things that I try to do is 我想做的事情是
you know it is generally best if possible 一般来说，如果可能的话
to try to wait for the end of the day or week 尽量等到当天或一周结束时
you know to trigger your stop losses 触发止损
but that is with the caveat that 但前提是
you know if your stop does hit 如果你的止损触及
you know you gotta execute 你必须执行
so I know a lot of 所以我知道很多人
people if they think their stops gonna hit 如果他们认为他们的止损会被触发
you know myself included 包括我在内
you know you you may try to exit the position early 你可能会尝试提前离场
and you know just generally 一般来说
you know the goal would still be to 你知道目标仍然是
try it away for the end of the day or week 尝试在当天或一周结束前离场
if possible rather than exit early 而不是提前离场
you know now there's certainly cases where 你知道现在肯定有这样的情况
you know you just want to get out 你知道你只是想退出
because you feel your stop's gonna be hidden 因为你觉得你的止损点会被隐藏起来
that's fine but I urge you to 这很好，但我建议你
try to wait for the end of the day or the week 但我建议你尽量等到当天或本周结束
and then lastly 最后
I'm going to go over a couple different strategies 我将介绍几种不同的策略
into how to manage physicians 如何管理医生
and you know put your stops on your positions 并在仓位上设置止损点
and it's important to highlight that 重要的是要强调
different strategies work better in 不同的策略在
different types of markets 不同类型的市场
so in a trending market or it's a non trending market 在趋势市场或非趋势市场中
using different approaches to managing your positions 使用不同的方法管理仓位
are going to work differently 会有不同的效果
and you know 你知道
that is kind of the art of stop lost placement 这也是止损的艺术所在
so I'm going to run through that but just kind of 因此，我将对这一点进行阐述，但请注意
understand that 了解这一点
okay so to start off 好了，现在开始
let's just start at the beginning you know 让我们从头开始吧
I think most of you people 我想你们大多数人
who have been through the course so far 我想你们大多数人
I understand that 我明白
I'm mostly playing breakouts 我主要是玩突围
or you know pull back byes but 或回调，但
basically where do we put that initial stop 基本上，我们把最初的止损点放在哪里
so for me if you buy a breakout 所以对我来说，如果你买了一只突破性的股票
you know the fact that that stock is breaking out 你要知道，股票突破的事实
is literally the reason you're buying the stock 就是你买入这只股票的原因
so if the breakout fails 所以如果突破失败
the reason for buying the position in the first place 当初买入的理由
is no longer present 就不复存在了
and kind of one of my 我的
key caveats is if your 注意事项之一就是，如果你
reason for buying is no longer there 买入理由不再存在
you know you shouldn't be in the position anymore 你就不应该再买入了
so if you buy a breakout the breakout shouldn't fail 所以，如果你买了一个突破，突破就不应该失败
and you know that's that's the key thing there 这就是关键所在
so for me 所以对我来说
the initial stop 初始止损
you know when you're calculating kind of your max 你知道，当你计算你的最大
paint or your position size 或仓位大小时
you know generally when you're 一般来说，当你
when you're buying a position 买入头寸时
there's some sort of shelf 会出现某种搁置
or mini consolidation 或迷你盘整
and you want to 你想
use that as your kind of initial max paint stop 作为你的初始最大止损点
then from there once the breakout 一旦突破
you know gets moving and you feel like hey 你就会觉得
this is sound we've moved through the pivot 我们已经突破中枢了
the stop for me should be moved to the break out bay 对我来说，止损点应该移至突破湾
low 低点
and then from there we want to try to 然后从那里我们要尝试
get our stop to break even as quickly as we can 让我们的止损点尽快达到收支平衡
without also choking that position off 同时又不把仓位掐死
I mean the goal is to make money 我的目标是赚钱
so you do need to give your stocks a wiggle room 所以你需要给你的股票一个回旋余地
and you don't want to move your 你不希望移动你的
stop plus 止损
to break even too quickly 太快达到收支平衡
where you might lose your position 你可能会失去你的头寸
then I think is you get a little bit more advanced 然后，我认为你要变得更先进一点
you know have more conviction in your trading 对自己的交易更有信心
I use something that I call pivot manipulation 我使用一种叫做 "枢轴操纵 "的方法
I actually came up with this name from a guy who I'm 这个名字其实是我从一个人那里想出来的，我正在
kind of helping learning trade 帮助他学习交易
he named this 他起的名字
but it's managing your stop 但它管理你的止损点
around the actual pivot point you create for yourself 围绕你为自己创造的实际支点
which kind of comes you know back to 这就回到了
you know a break out working or failing 突破成功或失败
basically 基本上
you want to manage it around that actual pivot 你要围绕实际支点来管理它
and if it comes back down through the pivot 如果股价跌穿了中枢点
sometimes it's best to exit the stock 有时最好退出股票
now if you get in situations wear stock squats 现在，如果你遇到股票下蹲的情况
and then it goes a day or two later 然后一两天后
you know 你知道
my approach of kind of keeping slightly tighter stops 我的方法是保持稍紧的止损点
I would say 我会说
you know 你知道
it can cause you to sometimes miss out on those 它有时会让你错失良机
opportunities 机会
or maybe you have to buy it back 或者你不得不买回来
but in situations where that breakout flat out fails 但在突破失败的情况下
you know you're going to be out of the way 你要知道，你要摆脱困境
with kind of how I manage stops 我是这样管理止损的
so like anything else there's always trade offs 所以，就像其他任何事情一样，总会有取舍
but I'm just more comfortable using Tiger stops 但我更喜欢使用老虎止损器
and just because I'm sure people are wondering 因为我相信大家都想知道
what in general is kind of that 一般来说
what does a tight stop mean for you in terms of 严格止损对你来说意味着什么？
percent let's say 比方说
sure so 当然
I would say my stops are generally between 1 and 3% 我的止损一般在1%到3%之间
depending on my position size 取决于我的仓位大小
so 所以
you know I am 你知道我是
I'm a momentum trader 我是一个动量交易者
for sure 当然
and oftentimes that I'm buying a stock you know 很多时候我买入一只股票
I'm buying it cause I expected to work 我买它是因为我预期会成功
and I think most veteran traders guys I've Learned from 我认为大多数资深交易员，我从他们那里学到的
one of the things they always 他们总是
you know kind of drill down is 你知道那种钻研是
most of my winners 我的大多数赢家
work right from the start 从一开始就成功
you know if you're buying at a good 你知道，如果你在一个好的点位买入
spot and if you've analyzed the start correctly 如果你正确分析了起点
it's very common on a winning position 在获胜的仓位上
that you'll never be in the red 你永远不会亏损
so you know for me 所以对我来说
it's about 1% a lot of the time but 很多时候都是 1%左右，但
you know 你知道
there's certainly more volatile stocks where that 当然也有更不稳定的股票
that is like you know that might even be like a 这就像你知道的，甚至可能像一个
the spread on a stock 股票的价差
so it's unrealistic to have 因此，让
you know 1% stop on all positions for sure 所有仓位都有 1%的止损
I would say let's say I have very 我会说，比方说，我对某件事有非常
very high conviction on something 非常有把握的东西
and you know I just 你知道，我只是
want to make sure that I get it 你知道，在某些情况下，我可能会使用
you know there are situations where I may use like a 5 在某些情况下，我可能会使用 5
percent stop %的止损
but I'm likely taking a smaller position and then 但我可能会采取一个较小的位置，然后
and then you know trying to pyramid 然后你知道，尝试金字塔
or just to make sure I get it 或只是为了确保我得到它
so 所以
every situation is a little unique 每种情况都有点独特
but I would say that 1 to 3% range is 但我认为，1% 到 3% 的范围
probably fairly accurate for about 90 percent of my 可能对我 90% 的
trades 交易
and like you said 就像你说的
this can lead you to getting stopped out 这可能会导致你
a few times eventually before a 在一只
stock actually starts working for you 股票真正开始为你工作
but you're willing to let that happen 但你愿意让这种情况发生
and you're always willing to re enter stock 你总是愿意重新进入股票
if it sets back up again 如果它再次回升
yeah absolutely 当然
I mean it's not uncommon for me to 我的意思是，我经常
take a couple paper cuts and then get it right 我的意思是，我经常会被剪掉几张纸，然后把它弄好
and 而且
you know I'm comfortable with that 你知道，我对此很适应
I'm not the type of person who does well 我不是那种做得好的人
when I'm in the red 所以我宁愿被拦下来
so I'd rather just get stopped at and buy it back 所以我宁愿被人拦住，然后买回来
gotcha perfect yeah 好极了
so a couple of visuals on this 给你看几张图片
so 所以
there's something that I call my Max Payne stop loss 我称之为 "落寞止损
this is really a stop that I'm 这个止损点
I'm hopefully not planning on 我不打算
executing on 执行
but 但
I feel like you 我觉得你
you literally 你从字面上
no matter what like 无论如何
have to know where you're absolute out is 都必须知道你的绝对目标是什么
no questions asked 不问问题
like no waiting for the end of the day 就像没有等待一天结束
whatever like 无论如何
like it hits this level I'm gone for sure 如果股价跌到这个水平，我肯定会出局
because the stock is just flat out broken 因为股价已经跌破了底线
and for me 对我来说
let's say I'm buying a breakout out of a consolidation 比方说，我买的是盘整突破的股票
you know my max paying is below that consolidation 我的最大买入价就在盘整线下方
now whether it's like the day before the breakout 无论是突破前一天的
days low 当日低点
you know it's somewhere within that range 你知道是在这个范围内的某个地方
and that's an area you can use 你可以利用这个区域
to one you kind of take your conviction in the position 这是你可以利用的一个区域。
and then you measure you know the percent 然后衡量
to your stop loss 止损
and then you can 然后你就可以
work to calculate your position size based on how much 根据你想在每个仓位上承担的风险来计算你的仓位大小。
risk you want to take per position 你想承担的风险
so that's kind of 这就是
you know what I call the max paint stop 我称之为最大止损
you know if this thing just totally stinks 你知道，如果这件事只是完全臭
and doesn't work 不成功
I'm going to stop out there 我就会止损
but really once a breakout starts to work for me 但是一旦突破开始对我起作用
and we push through the pivot 我们突破中枢
and I feel like hey this breakout has happened 我就会觉得突破已经发生了
I want to get my stop to the lower the day 我想把止损点设在当天的低点
and sometimes that can work 有时这可能会起作用
can occur like literally very quickly 可以很快发生
I can tell you within 我可以告诉你
the last six months or so 过去六个月左右
there's been many times where 有很多次
I've gotten long a stock and it's you know ripped 我做多了一只股票，结果你知道的，我只赚了3%。
I've been like 3% of the money 我赚了 3% 的钱
and then it's reversed and stopped out 然后股价反转，止损出局
and it's happened all within you know 这一切都发生在
the first 10 minutes of the day 就在当天的前十分钟
and in those situations 在这种情况下
you know my stop is already to the lower the day 在这种情况下，我的止损点已经在当天的低点了
because the stock has pushed you know 因为股价已经
through the pivot very definitively 因为股价已经非常明确地突破了中枢
and then it does happen to reverse 然后股价发生反转
and you get stopped out 你就会被止损
so it's max paint stop is kind of a for me 所以对我来说，最大止损点是一个
but then too and hopefully as soon as possible 但之后也希望尽快
once that stock gets moving 一旦股价
out of the breakout definitively 明确突破
I want to get my stop to the low 我想把止损位设到低点
the breakout day 突破当天
and then from there 然后从那里
my goal is to try to get my stop to around break you 我的目标是将止损点设在突破日的低点附近
so unfortunately we don't always all execute 所以不幸的是，我们并不总是都能
you know right at the pivot 在中枢处
you know sometimes there's a little bit of 你知道有时会有一点
slippage and things like that 滑点之类的
so you know there's 所以你知道
you know potential 你知道
our price to be a little bit passed the breakout 我们的价格会稍稍超过突破点
so step 3 for me is I want to try to get my stop 所以我的第三步是，我想把我的止损点
to a round break even 止损点
but you don't want to move your stop to break even 但你不希望把止损点移到收支平衡的位置
so quickly that you risk losing a good position 太快，以至于有可能失去一个好仓位
so kind of how I think about it is 所以我的想法是
okay we had our breakout 好的，我们突破了
and our stop is at the days low now 现在我们的止损点在当日低点
now we get followed through 现在我们要跟进
and that may be the next day 可能是第二天
you know it may be the day after 可能是后天
so 所以
it may be you know a couple days later 可能是几天后
but once you get that follow through 但一旦有了后续行动
where you feel like hey 你就会觉得
you know this thing is gonna work 你知道这件事会成功
you want to move your stop to break it and and 你想移动你的停止来打破它，和
and I don't mean literally 我不是指字面上的意思
look at your price and like put it next to your price 看着你的价格，把它放在你的价格旁边
I mean like that that rough general area up in here 我的意思是，就像这里的大致区域一样
so let's say it goes up and it pulls back a day 比方说，它涨了，然后回调了一天
you know maybe your price was up here a little and 你知道，也许你的价格在这里上涨了一点，而
you're in the red a little bit 你就会亏损一点
I'm more you know you'd probably still be in it 我想你可能还在里面
but let's say that it falls through 但假设它跌穿了
down through this day's low now 跌穿今天的低点
you know now you want to exit the position to me 你知道现在你想退出这个位置给我
you know and 你知道
and that may just be a little bit above the breakout 可能只是比突破点高一点点
day low but it's 日低点，但这
it's more an area 这只是一个区域
so we break out we got our stop in the days low 所以，我们突破后，我们的止损点在当日低点
and then we want to use our discretion to 然后我们要酌情处理
to get it to you know round break even 使其达到收支平衡
to try to protect our principle 尽量保护我们的原则
you know as soon as we can within reason 在合理的范围内尽快
in that we don't want to you know 我们不想你知道
choke a position off for 无缘无故
no for no reason 没有理由
so those are kind of 这就是
the three steps in my initial stop loss 初始止损的三个步骤
so your max paint level 所以你的最大油漆水平
the break out day low and then a round break even 突破当日低点，然后一轮破位
when you start to get followed through in the position 当你开始跟进仓位时
a few questions Oliver 几个问题，奥利弗
first 第一个问题
would you mind turning on the laser pointer so people 你是否介意打开激光指示器，以便人们
again see your point 再次明白你的观点
yeah no problem and there's a really good question 没问题，还有一个非常好的问题
I think do you implement 我想你是否实施了
anything like a time stop where we have a breakout 我们有一个突破的时间止损点
then it just goes sideways in nowhere 然后它就横冲直撞，不知所踪
would that cause you to exit the position 这是否会导致您退出头寸
or how do you handle that situation 或者你如何处理这种情况
yeah I think that's a phenomenal question 是的，我认为这是一个很好的问题。
I do use time stops in this 我确实使用了时间止损
I don't have any you know 我没有任何
defined rules around the time stop 明确的时间止损规则
but you know 但你知道
let's say a stock breaks out 比方说，一只股票爆发了
and then it just goes nowhere for like a week or two 然后在一两周内毫无进展
and I just sort of feel like I don't have my money 我就会觉得我没有把钱
in you know a top piece of merchandise 在你知道的顶级商品中
I may just exit that position 我可能会退出这个仓位
and I'm going to show you an example of that 我将在本节课中向你展示一个例子
in this session 在这节课上
on a stock that ended up actually working really well 在这节课上，我将向你展示一个例子
and I bought back a little bit higher 我又买回了高一点的股票
but yeah I think if you are in a position 但是，我认为如果你在一个位置上
and you kind of expect it to run 你期望它运行
and it should stop moving 它应该停止移动
um and you know maybe other opportunities are 也许还有其他机会
and you decide hey I think my capitals you know 而你决定嘿，我觉得我的资金你知道
better at work somewhere else 在其他地方更好地工作
and I think it makes sense to to you know 我认为这是有意义的，你知道
exit that position 退出那个职位
but you're 但你
you're doing it because you think there's something 你这么做是因为你觉得
something else out there 别的什么
you know I would say a time stop should should 你知道，我会说一个时间停止应该应该
you know it shouldn't be like two or three days 不应该是两三天
you know maybe maybe it's a week or two 也许是一两个星期
because again a stock can go and then 因为一只股票可能会涨，然后
you know maybe it pulls back for three days 你知道，也许它会回调三天
and there's not necessarily anything wrong with that 这不一定有什么问题
so I don't have any define rules around time stops 所以我没有任何关于时间止损的明确规定
but I think it's more taking into account you know 但我认为这更多的是考虑到你知道的
what 什么
other opportunities are there that I might be missing 我可能会错过的其他机会
and you know yeah 是的
and there's also a question that 还有一个问题
I think a lot of people have on their minds 我想很多人都有这样的疑问
do you use market orders 你是否使用市场订单
stop loss orders 止损单
or are you more setting alerts and you've got 还是你更多地设置警报，你有
a mental stop or stopping down on paper 心理止损或纸面止损
that's kind of your stop loss level 这就是你的止损水平
yes I execute all my stops 是的，我执行所有的止损
I don't use hard stops I mean 我不使用硬止损，我是说
I may put a hard stop in on something 我可能会在某些事情上设置硬止损
here and there but you know generally speaking I am 但总的来说，我是
executing my stops 执行我的止损
and I always use market orders 我总是使用市场订单
I would say for 99.9 percent of my trades 我可以说我99.9%的交易
I'm using a market order 我使用市场订单
perfect I think that's most of the questions that 完美 我想这就是人们到现在为止提出的大多数问题
people have asked to this point 的大部分问题了
so I think we can move on 我想我们可以继续了
okay 好的
so kind of after your initial stop loss 在你的初始止损之后
something that I use is is price strength confirmation 我使用的是价格强度确认
all right call it you know reconfirming 好吧，就叫它 "再确认 "吧
reconfirming price strength confirmation 重新确认价格强度确认
and then 然后
next would be something that I call it ignite bars 然后是我称之为 "点火棒 "的东西
so you know price strength confirmation 价格强度确认
is just the idea that you know price moves up 就是指价格上涨
it pulls back or it does what I call it rests 回调或者我称之为休整
and then it reconfirms it moves back higher 然后重新确认，再走高
and makes a new price I 并形成新的价格
and when that happens 当这种情况发生时
you have a small consolidation that's been created 就会形成一个小的盘整走势
via that resting action 通过休整动作
and the goal is once you get that reconformation 目标是一旦重新形成
to raise your stops to below that new 将止损点提高到新的
consolidation so that your stops are being raised 这样你的止损点就会提高
price advances 价格前进
and this is to me 这对我来说
you know just a total play on Darvis 你知道，这完全是在玩达维斯
I think Darvis's you know boxes were probably much 我认为达维斯的箱子可能比我的大得多
bigger than mine 比我的大得多
and that he was likely trading more off weekly charts 他可能更多地从周线图上进行交易
but it's the same concept you know price moves up 但这是同样的概念，你知道价格上涨
it rests it consolidates and then it moves back higher 休息，巩固，然后再走高
and then it will rest again at some point consolidate 然后它又会在某一点上盘整休息
and then it'll reconfirm move back higher again 然后重新确认，再次走高
and you want to be trailing your stop 你要把止损点设在
below those resting periods those consolidations 在这些休整期和盘整期的下方
so that you can be protecting your open gains 这样你就能保护你的未平仓收益
but then also allowing the position to work 同时也让仓位发挥作用
so if you just kind of think about the 所以，如果你考虑一下
you know the psychology behind that 背后的心理
you know let's say we got a breakout they're here 比方说，我们获得了突破，他们就在这里
let's use this example here on Tesla 我们以特斯拉为例
so we get a breakout right 所以我们得到一个突破
it moves up you know two or three days 两三天后就会上涨
you know buyers are control they're 你知道买家在控制
they're pushing prices higher as they 他们把价格推高
as they step in and 因为他们介入了
you know pay the author if you will 你知道如果你愿意的话
more aggressively that sellers are are hitting the bid 卖家会更积极地出价
and then what happens 然后呢
they say oh man we've moved three days 他们会说，我们已经卖了三天了
let's take a break let's take a break 我们休息一下吧，休息一下吧
you know maybe you have your your 你知道，也许你有你的
really short term 短期
kind of three day type 那种三天型的
swing traders who takes some profits here 波段交易者在这里获利
and with this gap up 然后
and then you know you pull back another day 然后再回调一天
and this specific instance Tesla also had earnings 特斯拉也有收益
so maybe you have people here who took some games 所以可能有人在盈利前做了一些交易
before earnings 在盈利前
but then what happens 但后来发生了什么
we reconfirm and we take out this high 我们重新确认并走出高点
so we move up we pull back 所以我们上涨，我们回调
we reconfirm higher 我们再次确认高点
um then we continue higher 然后继续走高
and then you know what happens again 然后你知道又发生了什么
you know your your 你知道你的
your your three day 你的三天
four day type trailers 四天类型的拖车
that they probably took some profits here 他们可能会在这里获利
um cause that's you know their their strategy 因为这是他们的策略
and you know maybe the guys who were buying in here 也许那些在这里买车的人
they say oh man we 他们说
we've moved so far for three days let's 我们已经走了三天了，让我们
let's take a break 我们休息一下吧
and what happens you get a couple days of consolidation 然后就会出现几天的盘整
and then they say oh man 然后他们说
it's not gonna come back down 不会再下跌了
for us to buy more share as well 让我们买更多股票
I guess let's come back in and start buying again 我想我们还是回来再买吧
and we've reconfirmed 我们已经重新确认了
so as what you want to be doing there is 所以你要做的就是
you know you move up you base and reconfirm 你知道你要向上移动你的基础并重新确认
okay let's move our stop up to below 好吧，让我们把止损点移到下方
this little mini consolidation 这个小型盘整
we move up we base 我们向上移动，我们立足
we reconfirm higher 我们再次确认更高
okay let's move our stop up to below this 好吧，让我们把止损点移到这个
little mini consolidation 小型盘整
and you know that's 你知道
really what you're doing 你要做的
is you're letting the stock consolidate 就是让股价盘整
and then when buyers start to take control again 然后当买家开始再次控制局面时
you want to move your stock to 你想把股票移到
below that little consolidation 盘整下方
to protect your gates and it's really that simple 以保护你的大门，就这么简单
so the second step to this is 第二步是
you know concept that I call ignite bars 我称之为 "点火棒 "的概念
so ignite bars to me are wide range bars 对我来说，点火棒是宽范围的棒
that hold significance 具有重要意义
due to their positive price action 由于其积极的价格行动
so this isn't just any old you know bar on the chart 所以这不是图表上的普通柱形图
it's a noticeable bar 它是一个明显的
of wide range especially if there's volume 尤其是在有成交量的情况下
so for example 例如
on this bar right here which is an ignite bar 这里的这根柱子是一根点火柱子
look at the volume 看看成交量
this is buying power right 这就是购买力
like there's a reason this stock moved 就像这只股票之所以上涨
because there were a lot of people buying the stock 因为有很多人在买这只股票
so if we were to lose the low of this day 所以，如果我们失去了今天的低点
guess who would be 猜猜谁会
underwater on their position 他们的头寸会亏损
all the people who created this volume 所有创造这个成交量的人
the lows of these bars should not be lost 这些柱状图的低点不应丢失
and I say they hold more weight if they occur on volume 我认为，如果这些低点出现在成交量上，它们的重要性就会增加
so basically if you're managing a position 所以基本上，如果你在管理头寸
and you're raising your stops based on reconformation 如果你在管理一个仓位，你会根据重新形成的情况提高你的止损点
you know 你知道
and then you get a big big bar like this with volume 然后就会出现像这样有成交量的大阳线
I also want to be raising my stops to 我也想把止损点提高到
below the ignite bar 低于点火柱形图
day low 当日低点
strictly for that reason 完全是因为这个原因
that there's a reason that bar happened 点火柱的出现是有原因的
like people pushed it higher 比如人们把它推高了
so we shouldn't lose that day's low 所以我们不应该失去当天的低点
because that all the people that created that up are 因为所有推高的人都被
underwater 在水下
which has the potential to create cell pressure 这有可能造成细胞压力
so two things to take away from this slide 因此，从这张幻灯片中可以看出两点
price strength confirmation 价格强度确认
the idea that stocks move up they base move higher 股价上扬，股基走高
and then ignite bars 然后点燃柱状图
the idea that when we have a major bar significance 当我们有一个重要的柱状信号时
especially if it's on volume 尤其是在有成交量的情况下
it's a sign that you know buyers were aggressive 这表明买家很积极
and pushing the stock higher 并将股价推高
and so those points on the chart should hold 因此，图表上的这些点应该保持住
if the stock is healthy 如果股价健康
because if they break 因为如果它们被打破
you know there's a larger force 你就知道有一股更大的力量
who likely sold into that advance 他们很可能卖出了该股
and then one thing that I would say here as well 我还想说的一点是
is when you get a significant up bar 就是当你得到一个显著的上涨条形图
that's on extremely light volume 但成交量极小
so let's say 比方说
let's just imagine you know this bar had you know 让我们想象一下，你知道这根柱子有你知道的
one quarter of the volume 四分之一的成交量
it's not to say that that's going to roll 这并不是说它会马上翻转
over right away 立即翻转
but you want to be thinking huh 但你要想一想
who was actually pushing this stock higher here 到底是谁推高了这只股票
likely retail investors 可能是散户
because there's no volume 因为没有成交量
so that is why volume is important to 所以成交量很重要
take note of on these ignite bars 所以成交量很重要
but Richard any any questions on 但理查德对
on this slide 有什么问题吗？
I'm not let me check on this slide right here 没有，让我看看这张幻灯片
is there a minimum percentage 是否有最低百分比
move to define an ignite bar 移动来定义点火条
and yeah 是的
how do you determine 你如何确定
whether something is an ignite bar 点火条
so there's no 所以没有
I look at it just to be totally honest 我只是实话实说
different stocks are going to have different 不同的股票会有不同的
percentages right 百分比
you know if we're trading a 如果我们交易的是
low float small cap stock 小盘股
you know an ignite bar might be 12 to 15 percent 点火条可能是12%到15%
like the thing may really really move around 就像这东西可能会真的真的动来动去
whereas if we're trading a 而如果我们交易的是
you know larger cap 大盘股
liquid name maybe like a Microsoft or an apple 流动性好的股票，比如微软或苹果
you know an ignite bar might be 4 or 5% 点火条可能是 4%或 5%。
because it takes more dollars to move that stock 因为它需要更多的美元来移动股票
so it is dependent on the volatility of a stock 所以这取决于股票的波动性。
I don't personally use things like ATR 我个人不使用 ATR 等工具
but I'm sure somebody could run some sort of 但我相信有人可以进行某种
test and say like 测试，比如
in ignite bars 在点火条形图中
3 times the ATR or something like that 3 倍 ATR 或类似的东西
for me though 但对我来说
like if we just look at this stock like 如果我们只看这只股票
forget its Tesla just 忘掉特斯拉
just like look at the price bars 看看价格柱
we have very tight price bars all through here 我们这里的价格柱非常紧凑
we see you know in advance 我们可以提前看到
really this is like the the biggest 这是最大的
price bar here it's the breakout bar 这里的价格柱是突破柱
you would kind of expect that 你可以预料到
but then this is an outlier for sure 但这肯定是个离群点
like I don't even need to know what the percent move is 我甚至不需要知道移动的百分比是多少
I just kind of look at it 我只是看看而已
I mean this is 我的意思是
this is a bar of significance 这是一个显著性条形图
this right here to mean is a bar of significance 这里是一个重要的条形图
in the sense that by eyeballing it 从这个意义上说
you know it's a it's a 你知道这是一个
outlier as far as character 离群点
of the stock and how it moves day and day out 就股票的特性和日复一日的走势而言，它是一个离群点
so that's how I look at ignite bars 我就是这样看待点火棒的
so I know no you know 所以我不知道
percent or anything like that 百分比或类似的东西
because each stock is different 因为每只股票都不一样
way it versus the other price action 因为每只股票都不一样
of the daily bars of the stock 股票的日线
and here's a good question from Tanya 谭雅提出了一个很好的问题
would you move this stop if the ignite bar was retail 如果点火棒是散户的，你会移动这个止损点吗？
meaning it was on pretty low volume 也就是说，成交量很低
yeah so I would move the 是的，所以我会移动
the bar 条
and I would actually just 实际上我会
be aware like hey is this ignite bar likely to fail 注意这个点火杆是否会失败
like I can think of 我能想到的
and I really added this specifically 我还专门加了这个
last year I was trading Roku 去年我交易 Roku
and Roku had a huge up bar Roku出现了巨大的上涨
and I was you know I was pretty fired up right and 你知道，我当时非常兴奋。
and I was like 我当时想
man the volume on this is just like so light though 天啊，这东西的音量太小了
it's so weird that 太奇怪了
that it moved this much on my volume 它在我的音量上动了这么多
and sure enough 果然
it sort of chopped around for a few days 它就这样徘徊了几天
and there was no follow through 没有跟进
and it came down and failed 然后就跌了下来，失败了
and it really surprised me 这让我很吃惊
because I'd always felt like ignite bars 因为我一直觉得点火棒
you know move higher 走高
but then it's like 但后来就像
well like 就像
it was a bar created without much buying power 这是一个没有多少购买力的条形图
so I would just be more suspicious 所以我会更加怀疑
of low volume mignite bars 低产量的褐煤棒
I also think 我还认为
if you start to get really really really extended 如果你开始真的真的真的扩展
you know especially from the 你知道，尤其是从
the 10 week and the 10 day 10周和10天
I think you'll notice if you study enough charts 我想如果你研究足够多的图表，你会发现
and this certainly doesn't always hold true 这当然并不总是正确的
but near the end of moves 但在走势接近尾声时
you might get like three ignite bars in a row 你可能会连续看到三个点火柱状图
and if you see them you know 如果你看到它们
start to occur 开始出现
I mean they can also be on heavy volume so 我的意思是，它们也可能出现在大成交量上，所以
at the end of a run 运行结束时
but sometimes it'll just be kind of floating on air 但有时它们只是漂浮在空中
and those can be opportunities 这些都是机会
actually in those instances to take your position off 实际上，在这种情况下，你可以把仓位撤掉
so just be more suspicious of low volume ignite bars 所以对低成交量的点火柱要多加怀疑
perfect and there's a question specifically about the 完美，有一个问题特别是关于
the Tesla chart here 特斯拉图表
the bar after that huge ignite bar 那个巨大的点火柱之后的柱子
has a pretty poor clothes and it's also on high volume 这根巨大的点火柱之后的柱子衣服很脏，而且成交量很大
would would that type of bar 这种类型的柱形图
cause you to tighten up your stop 会导致你收紧止损点吗？
it's it's the one 就是这个
right 对
no right here right here 不，这里，这里
can you see that 你能看到吗
this one oh yeah yeah 这个
so 所以
this is something that I would say is 我想说的是
you want to take it in context right 你要结合实际情况
so this is day for 所以这是一天
post breakout 突破后
in reality we we had earnings here in this estate for 实际上，我们在这个庄园的收益为
so to me this is profit taking for people who 所以对我来说，这是获利了结的人
you know generally 你知道一般来说
you'll see a lot that after a breakout 你会看到很多突破后的情况
you'll get some profit taking on like day 3 第三天就会有一些获利了结
I think there's a lot of swing traders who they sell 我认为有很多波段交易者会在第三天卖出
into that that third day 在第三天卖出
right um 对吧
and one of the mistakes that I would make a lot 我经常犯的一个错误是
a couple of years ago 几年前
I would see a shooting star like this 我会看到这样的流星
near the beginning of a move 接近开始移动
and I would sell on this day 我就会在这一天卖出
and I'd say oh man 然后我会说
like this thing's gonna tank or whatever 就像这东西要完蛋了一样
but a lot of the times these shooting stars like this 但很多时候，这些流星就像这样
like 像这样
people forget that a shooting star needs confirmation 人们忘了流星需要确认
so it needs to take out this days low 所以它需要去掉这几天的低点
for this 这个
chart or this candle to actually confirm 图表或这根蜡烛才能真正确认
and a lot of the times you'll see 很多时候你会看到
you know because it's day 3 or day 4 因为这是第三天或第四天
you know this is really just a resting bar 你知道这其实只是一个休息柱
one of the things that I really Learned from 我真正从
from Trader Florida is 佛罗里达交易员那里学到的
I've actually all see bars like this a lot 我经常看到这样的条形图
where maybe it finishes up like 1% 也许它最终上涨了 1%，但也许它在下跌时上涨了 5%。
but maybe it was up like 5% at one point 但也许它曾一度上涨了5%
and it's like oh 然后
actually the stock advanced today 实际上今天股价上涨了
and then the next day it does something like this 然后第二天它就会像这样
you know consolidates 你知道盘整
and in reality this is just a consolidation bar 而实际上，这只是一个盘整条形图
you know you had your late buyers that maybe got 你知道你有你的后期买家，他们可能会被动摇
shaken out you had your people who bought here 在这里买入的人
who took some profits 他们获利了结
but the bigger institutional type players 但更大的机构投资者
you know they were likely just holding off 你知道，他们可能只是暂缓
on continuing to buy their position 继续买入头寸
and sure enough 果然
they you know step in 他们介入
support the stock in a continuous hire 支持该股的持续雇佣
so I would say take it in context as to wear the stock 所以我想说的是，如果这根蜡烛出现在这里
is if this candle occurred you know up here 如果这根蜡烛出现在这里
I would say oh yeah 我会说哦，是的
you want to be concerned about that candle 你要关注这根蜡烛
because we've moved you know 50 percent 因为我们已经移动了50
and you know now where 你知道现在
you know multiple weeks post breakout 你知道突破后的多个星期
you know we want to keep an eye on this thing 你知道我们要关注这件事
but because of where it occurs 但由于它出现的位置
I would be less concerned with it 我不会太在意
absolutely context context is so so important 当然，上下文非常重要
uh absolutely 当然
and there's a good question here from J J 提出了一个很好的问题
um and we covered this a little bit last 我们在上
last seminar 上次研讨会
when we talked about billing into positions 当我们谈及职位计费时
but if you for instance 比如说
buy on the breakout buy on the first wedge pop 在突破时买入，在第一个楔形弹出时买入
and then add as a reconfirms on an EMA crossback 然后在 EMA 横盘回调再次确认时加码
like basically the first two entry points here 基本上，这里的前两个进场点
are your stop losses 是你的止损点
do you treat your stop losses individually 你是单独处理止损
or do you treat the entire thing as one position sure 还是将整个交易视为一个仓位？
that's a really really good question thanks 这是个非常好的问题，谢谢
so let's say you bought down here 假设你在这里买入
you know you want to 你要
manage the stop loss in this position here 管理这个仓位的止损
and 和
for you know we'll call it position a as you move up 当你向上移动时，我们称之为仓位 a
and then reconfirm 然后重新确认
you know maybe I'm position a 也许我的仓位是a
you're keeping your stop you know down here a little 你要保持你的止损，你知道在这里向下一点
but let's say you start a second position here 但假设你在这里开始第二个仓位
you know your stop is the days low 你知道你的止损点是当天的低点
and then as it gets moving you want to move it 当它移动时，你要移动它
you know kind of to hear 因为你想控制本金风险
because you want to manage your principal risk on 因为你想管理
position B 仓位 B
but position a you may still keep it down here right 但头寸 A 你可能还是会把它放在下面，对吧
but then kind of as it gets moving 但随着它的移动
and it follows through 然后
and maybe you move your stop up to this area 也许你会把止损点移到这个区域
I would start to manage position a and B 我会开始管理 A 仓位和 B 仓位
together at this point 一起管理
and then as you get the ignite bar 然后当你到达点火柱时
I'd be adjusting my stop for position a and B together 我会同时调整 A 仓位和 B 仓位的止损点
but then let's say 但假设
we get here and we have a Wick play right 我们到了这里，我们有一个威克播放权
and you decide to start a third position position 你决定启动第三个位置
we'll call it position C 我们称之为位置 C
so position C let's say we bought here 那么位置 C，假设我们在这里买入
I would have my stop on position C here 我会在 C 仓位设置止损
whereas on a and B it might still be down here right 而 A 和 B 的止损点可能还在这里，对吧
because you know your cost is different 因为你知道你的成本是不同的
and then as it you know follows through 然后，你知道它会继续下跌
for me position a and B 对我来说，头寸 A 和 B
I'd probably move up to like right here 我可能会向上移动到这里
whereas position C I'd probably have here 而位置 C 我可能会在这里
and then as it follows through again 然后当它再次通过
and I get this ignite bar 我得到这个点火柱
you know now I'm trading AB and C together 现在我把AB和C放在一起交易
you know that's 你知道
that's kind of how I treated every new position I take 这就是我对待每一个新仓位的方式
I'm managing the risk 我管理风险
uniquely on that entry 独特的入场方式
so 所以
the answer is you're treating them differently 所以答案是你要区别对待
but as the stock starts to move 但当股票开始移动时
you know you can start managing those entries together 你知道你可以开始一起管理这些条目
I will say like a later by area 我想说的是稍后的区域
you know maybe you're treating an entry here more 你知道，也许你对这里的条目处理得更多一些
is like a swing right 就像一个波段
like a two to three day swing 就像两到三天的波动
so maybe on position C because you bought it later 所以，也许在仓位C上，因为你买得比较晚
you know you're taking it off more quickly 你知道你会更快地脱手
and it's more like cash flow for you 这对你来说更像是现金流
because 因为
you're cognizant of the fact you bought it later 因为你意识到你买得晚了。
and maybe that allows you to give physician a and B 也许这样你就能给医生 A 和 B
you know a little bit more room too 更多的空间
so to answer that question 所以回答这个问题
you treat each fire uniquely 你对每场火灾都要区别对待
because you have a unique principal risk on each entry 因为你每次进入都有独特的本金风险
but as the stock starts to move 但当股票开始变动时
and just managing the stock correctly 只要正确管理股票
it may bring the stock for all three positions 可能会使所有三个仓位的股票
into alignment 一致
that's perfect 这样就完美了
and there's also a question here from Scott 斯科特也提出了一个问题
that thought was really good 他的想法非常好
if basically 如果基本上
would you consider buying twice on the same day 你是否会考虑在同一天
on the breakout 在突破时
if you moved your stop to low the day 如果你把止损点移到当天的低点
and got stopped out 并被止损
but then the reversal looks promising 但随后的反转看起来很有希望
and moves back through 并重新穿过
that original pivot 原来的中枢
sure yeah 当然可以
I mean that's just 我的意思是这只是
part of the game you know sometimes you get shaken out 游戏的一部分 你知道 有时候你会被震出来
and you're wrong 你错了
and you buy it back 然后再买回来
I hate when that Athens 我讨厌雅典
but it has it's part of the game yeah 但这是游戏的一部分
okay and then 好吧
people are asking basically 人们会问
when you do decide to sell what shares are you selling 当你决定卖出时，你卖出的是什么股票？
of that total position say you bought three times 比如说你买了三次
are you selling 你是先卖出
the last batch first or the first batch first 先卖最后一批还是先卖第一批？
last and first out versus first and first out 最后一批先卖出还是第一批先卖出？
yeah so what I do is I have my 我的做法是
trading software set to last in 交易软件设置为先进先出
first out and 先出
for me it really doesn't matter 对我来说这并不重要
because most of my gains are 因为我的大部分收益都是
short term 短期的
but I do have 但我有
you know the idea in the back of my head that 你知道我脑子里的想法是
you know just maybe 也许
eventually I'll have a long term game 最终我会有一个长期的游戏
it hasn't really happened yet 现在还没实现
but I do last and first out 但我确实是后发先至
just in case you know maybe maybe a stock runs up the 以防万一，你知道，也许一只股票会在12个月内沿着移动平均线上涨
moving averages for like 12 months right 移动平均线12个月
you know 你知道的
I want to get long term games on my initial shares 我想在我的初始股份上获得长期游戏
which you know 你知道
rarely never had 很少，从来没有过
but 但
maybe eventually 也许最终
there you go perfect 这就完美了
I think we can move on to the next slide 我想我们可以进入下一张幻灯片了
okay so the 10 20 period movement average 好了，10-20 个周期的运动平均值
you know as you guys know having gone through the cycle 你们都知道，在经历了周期之后
you know these moving averages 你们知道这些移动平均线
and 以及
the price movements of the stock around these averages 股票价格围绕这些均线的走势
is really kind of the key to my whole strategy 是我整个策略的关键所在
so 所以
often you know 经常
price strength confirmation and things like that 价格强弱确认之类的东西
works like 就像
literally in alignment with the moving averages 与移动平均线保持一致
you know price will move up and it'll rest 你知道价格会上升，然后休息
and 并且
oftentimes it'll rest right into the moving averages 很多时候，它会停在移动平均线上
and then it'll move higher 然后继续走高
so the 10 and the 20 period moving average for me 因此，对我来说，10 期和 20 期移动平均线
are an excellent 是一个很好的
stop loss reference 止损参考
they are a reference guide 它们是一个参考指南
they are not the end Albia all 它们不是万能的
but they can 但它们可以
help you stay in positions in trending environments 帮助你在趋势环境中保持仓位
for sure so basically the way I use them 所以基本上我使用它们的方式
like I said it's a reference 就像我说的，这是一个参考
and you're not just going to 你不能只
use a specific moving average 使用特定的移动平均线
on day 1 or 2 of the breakout 在突破的第 1 天或第 2 天
you're going to use your initial stop loss rules 你要使用初始止损规则
but as you get into a move 但当你进入
and a stock 股票
starts to show respect for a specific moving average 开始显示出对特定移动平均线的尊重
you want to start to pay attention to that 你就要开始注意了
so for me 所以对我来说
the rough general rule of thumb is 2 to 3 touches 粗略的一般经验法则是触及 2 到 3 次
you know 你知道
because let's say it touches the 10 day one time 因为比方说，它有一次触及 10 日均线
and then 然后
you know it decides to consolidate a little bit more 你知道它决定再巩固一下
and it shows you that it really 然后它就会向你表明
it's a 20 day moving average type stock 它是 20 日移动平均线类型的股票
it's not a it's not a 10 day 它不是 10 日移动平均线类型的股票
stock it wants to move a little bit slower 它想走得慢一点
I don't want to just 我不想
lose that position because it loses the 10 day 因为它失去了 10 天移动平均线
you know I want to give it a shot to hold the 20 day 你知道，我想给它一个机会，守住 20 日均线。
now 现在
for me generally if a stock's not going to hold the 20 对我来说，如果一只股票不能在 20
day I am not going to be in it 我就不会参与
not because it's 不是因为它
you know broken per se 因为它本身就坏了
but just because I think 而是因为我觉得
I can probably find another stock 我也许能找到另一只股票
that will hold the 20 day 能守住 20 日均线的股票
so moving averages we want to start to notice 所以我们要开始注意移动平均线
and track which moving average a specific stock 并追踪特定股票的移动平均线
is going to respect 会遵守哪条移动平均线
and as we get further into the move 当我们进一步移动时
if we lose that moving average 如果我们失去了移动平均线
you know we want to exit the position 你知道，我们要离场
so you'll see 所以你会看到
I say the further into a train of stock gets 我说过，股票走得越远
or the more you know touches of moving average has 或移动平均线的触及次数越多
the more relevant it's going to be 相关性就越大
you know why is that 你知道为什么吗？
if a stock holds the 10 day you know four times 如果一只股票四次触及 10 日均线
you know 你知道
that's four times that everybody in the position has 那就是四次，这个位置上的每个人都注意到了
noticed that 注意到了
and they're more likely to sell if the 10 day is lost 如果10日线失守，他们更有可能卖出
right now if it holds the 20 day 现在，如果它在 20 天内
four times 四次
now those 现在
people have got to see the 20 days support their stop 人们必须看到20日支持他们的止损点
for a different times 不同的时间
and if it loses that moving average 如果跌破移动平均线
they're more likely to sell 他们更有可能卖出
so it's important to 因此，重要的是
1 follow your initial 1 遵循你最初的
rules to protect your principal capital 规则来保护你的本金
and get to the point where you can 并达到可以
see which moving average even matters 哪条移动平均线更重要
because like week 1 or 2 we don't even know 因为第 1 周或第 2 周我们甚至不知道
like the moving averages haven't even let us 移动平均线甚至没有让我们
know what's important 知道什么是重要的
but as you get to you know we 但当你走到
you know four to six or so 四到六周左右
you know now 现在
we should have an idea as to 我们就应该知道
which moving average is important 哪条移动平均线重要
um oftentimes you'll have a trend line 通常你会有一条趋势线
which I'm gonna go over next 我接下来要讲的
that actually sort of lines up with with 实际上与
with a moving average 移动平均线
um and then we can 然后我们可以
you know 你知道
track that moving average is something of relevance 追踪移动平均线的相关性
um so in the O'Neill Disciples book 在《奥尼尔门徒》一书中
which I've mentioned before 我之前提到过
um and I highly recommend buying reading and 我强烈建议大家购买阅读
referencing right I keep it on my desk 我强烈建议你买来读一读
it's literally right here 就在这里
it's yeah 是的
trade like an unnailed disciple 像未出徒的弟子一样交易
by filmeralis and Chris Catcher 作者：Filmeralis 和 Chris Catcher
they have something that they called a 7 week hold rule 他们有一个叫做 "7 周持有规则 "的东西
where once a stock has held the 10 day for 一旦一只股票连续 7 周保持在 10
7 straight weeks 连续 7 周
when it breaks the 10 当它突破 10
day and then breaks the low of that day 然后跌破当天低点时
you get stopped out 你就会被止损
up until that point 直到这一点
you know they use the 50 day moving average 你知道他们使用的是 50 日移动平均线
so my approach is you know not the same as theirs 所以我的方法和他们不一样
and that I don't have a specific you know 我没有一个具体的你知道的
seven week number 七周数字
but 但
I am aware that if something's been holding the seven 但我知道，如果有什么东西一直保持在七
or the 10 day for seven weeks 或10天的七周
having read their book and 读过他们的书
understanding that they've back tested this 了解到他们已经对此进行了回溯测试
that when it loses that 10 day 如果它失去了 10 天
I don't want to be in the stock anymore 我就不想再买这只股票了
so I would say that 所以我会说
this strategy is mostly going to come into play 这个策略大多会发挥作用
or it's really 或者说
only going to come into play 只有在
when you're buying a stock out of a sound 当你从一个良好的
non extended base 非扩展基础
so I'm talking like a 4 to 6 所以我说的是 4 到 6
maybe even longer term base 甚至更长期的基础
and the stock actually has an opportunity to trend 股票实际上有机会形成趋势
if you're buying you know like a bull flag 如果你买的是牛市旗帜
or for example 或例如
like let's say you're buying this Wick play in Tesla 比方说，你买了特斯拉的威克股票
like the the BI area was down here 就像 BI 区域在这里向下
you know as far as using the movement averages 就使用移动平均线而言
so this is you know more of a swing trade 所以这更像是波段交易
whereas this is you know 而这是
you know for me 对我来说
your quote unquote position trade 而这是你知道的，你知道的，对我来说
I get it a position trade for me a shorter term 我明白，头寸交易对我来说是短期的
but so you can't you know 但你不能
say hey we're we're we're 说嘿嘿，我们是我们是我们是
we're only a week into the move when really 我们只做了一周，而实际上
your four weeks into the move if you if you buy here 如果你在这里买入，你将在四周后才开始行动
so this is really to be applied 所以这真的要应用
you know from the initial 你知道从最初的
sound bass breakout area 声音低音突破区域
not more of a bowl flag later 而不是后来的碗旗
by area so I want to definitely 区域，所以我一定要
highlight that 突出这一点
but so this is great if you're 但如果你
you know in a trending market where 你知道在一个趋势市场中
stocks are gonna work up the moving averages I mean 股票会在移动平均线上运行，我的意思是
you'll see examples 你会看到这样的例子
where stocks trend up the moving averages 股票沿着移动平均线
for months at a time 连续数月
and with this strategy 有了这个策略
you can hold those positions through those pullbacks 你可以在回调时持有这些头寸
now in choppier markets 现在，在波动较大的市场中
you know the moving averages become less relevant 你知道移动平均线变得不那么重要了
because 因为
stocks just aren't trending 因为股票没有趋势
and that's just you know the 这就是
the downside to the strategies 策略的缺点
you know sometimes you're going to give back in those 你知道有时你会在那些
drop of your markets and then get stopped out 市场下跌，然后被止损
and that's just how it is 就是这样
you know no strategies perfect all the time 没有完美的策略
but if we look at this Navidia example 但如果我们看看 Navidia 的例子
this is literally the 这就是
you know 你知道
trend that we just had in Navidia 我们刚刚在 Navidia 的趋势
and I don't show the whole base here 我没有在这里展示整个基础
but I've showed it on previous sessions 但我在之前的会议上
where it broke out 它突破了
you know right in here around 208 to 2 13 你知道就在这里，大约208到2 13
or so 左右
and what happens we 然后我们
we trend up the moving averages 我们的趋势是上升移动平均线
you know 你知道
full disclosure I really exited this thing right 充分披露我真的退出了这件事的权利
right in here 就在这里
but if this was your strategy 但如果这是你的策略
you have your first extension 你有你的第一个扩展
which I'm going to talk about extensions 我会在这里谈谈扩展
you know here at a moment 你知道这里的时刻
and then we pull back and we test the 10 day 然后我们回撤并测试10日线
and then we move up 然后我们向上移动
and to me you have your second extension which 对我来说，你有你的第二个扩展
you know talk about that as well 你也知道这一点
but then we pull back and we 然后我们回撤
and we hold the 10 day again so that's the second time 我们再次守住 10 日线，所以这是第二次
we move up 我们向上移动
and you know we pull back and and bounce here 你知道，我们在这里回撤并反弹
to me that's like a third test right 对我来说，这就像是第三次测试，对吧
and then when we lose this 10 day 然后当我们失去这个10天
to me if you didn't sell one of these extensions 对我来说，如果你没有卖出其中的一个延长期
this is kind of 这是一种
your safety stop your exit safety stop 你的安全止损位 你的退出安全止损位
you're going to exit when we lose 当我们失去
the 10 day moving average here 这里的10日移动平均线
it's also noteworthy that to me 同样值得注意的是
you have a trend line here 这里有一条趋势线
so you have one two three touches of the trend line 所以你有一二三次触及趋势线的机会
and then if we were also to look at the weekly chart 如果我们再看看周线图
you'll notice that this second extension 你会注意到，相对于
relative to the 10 week 相对于 10 周
was you know 20 percent 是 20
actually I think it was about 30 percent 实际上，我认为大约是 30
above the 10 week 高于 10 周
so like 所以
every other thing that I talked about 我谈到的其他每件事
on the buying side 在购买方面
where you want to have multiple arguments 你要有多种论据
you also want to pay attention to the multiple 你也要注意
arguments on the cell side 电池方面的参数
in this instance 在这个例子中
we decided you know if you were using this strategy 我们决定，如果你使用这个策略
we decided to use the 10 day 我们决定使用 10 天
we got our three tests 我们进行了三次测试
we also see a trend line 我们还看到了一条趋势线
that's kind of argument 2 这是论据 2
we're also extended from the 10 week 我们还从 10 周开始延伸
we've got a second extension that 我们还有第二次延长
you know we want to be aware of 我们要注意
and then when we lose this moving average 当我们失去这条移动平均线时
like we can sell this thing with conviction 我们就可以坚定地卖出
in the sense that we're likely making a good decision 从这个意义上说，我们很可能做出了一个正确的决定
so this is an example where the 10 day is defined 这是一个定义了 10 日均线的例子
and notice how early in the trend 注意在趋势的早期
we're respecting the 5 day 我们尊重 5 日均线
I think the 5 days more use to just judge character 我认为 5 日线更多地只是用来判断特征
I wouldn't be using it 我不会用它
you know to as a stop because 因为
I just think it's too fast 因为我觉得太快了
but you know 但你知道
it's it's quick above the five day at the beginning 但你知道的，一开始它比5日线快
just showing you hey this this stocks you know it's 只是向你展示 嘿，这只股票
it's pretty strong 很强劲
like we might be in a good stock 就像我们可能在一只好股票里
but you're really kind of waiting 但你真的在等待
you know to see these tests 你知道，要看到这些测试
you know before you're going to define 在确定
which moving average you want to use 你要使用哪条移动平均线
so this is an example in Navidia 这是 Navidia 中的一个例子
which it remains to be seen 还有待观察
you know whether this was a good decision or not 你知道这是否是一个正确的决定
because Navidia hasn't really 因为 Navidia 还没有真正
you know falling apart yet 崩盘
but I would say that from a momentum standpoint 但我想说，从势头的角度来看
at this point 在这一点上
you know the trade is over in Navidia for 纳威迪亚的交易已经结束了
you know for somebody of my time frame 你知道对于我这个时间段的人来说
perfect let me see if there's 让我看看
any questions on this particular slide 有什么问题吗？
yeah this is a good one 是的，这是一个很好的问题
so when you're using the 10 and 21 当你使用 10 和 21
the 10 and 20 EMA as your stop loss 10和20 EMA作为止损点时
are you waiting until the end of the day 你是等到当天结束
to act on your stop loss or is it interday 止损，还是日间止损？
when it breaks that level that's when you exit 当它突破该水平时，你就退出
that's a really really really really good question 这真是一个非常非常非常好的问题
and I expected that question 这个问题在我意料之中
I use my discretion 我酌情处理
in the sense that I want to 我想
try to give it to the end of the day 试着把它放到一天结束的时候
but I also want to look at all the evidence right 但我也想看看所有的证据吧
so in this specific instance 所以在这个具体案例中
I almost think you could probably 我几乎认为你可以
have sold this on this day 在这一天把它卖掉
you know 你知道
actually before it lost the 10 day believe it or not 其实是在它失去 10 天之前，信不信由你
and the reason that I say that is 我这么说的原因是
there we've got the second extension 我们已经有了第二次延期
which I'm gonna go over why this is significant in 我稍后会详细说明这一点。
in a little bit so I'm not gonna harp on that too much 所以我就不多说了
um but 但是
then there's a couple other subtle details that I'm 还有其他一些微妙的细节，我稍后也会讲到。
also gonna go on later 我稍后也会讲到
when I get into the candles and stuff like that 我稍后还会讲到蜡烛之类的东西
um 嗯
we've got our second extension and then we kind of have 我们已经有了第二个延伸，然后我们有种
like a break out here that then 就像这里的突破，然后
you know fails 失败
I wouldn't call this like a failure 我不会说这是失败
but it doesn't follow through at least right 但至少没有跟进
showing that buyers don't want to further pay up 这表明买家不想进一步买进
but buyers do support it on the 10 day 但买家确实在10日线上支持它
but then is what happens 但接下来会发生什么
and you're going to notice this a ton 你会注意到这一点吨
and grow stocks 和成长股
near the end of the mood 情绪接近尾声
you're going to have kind of like really 你会有一种像真的
red flag No. 红旗No.
1 is right here where we have a gap in trap 1是就在这里，我们有一个缺口的陷阱
but then buyers support it 但随后有买方支撑
then red flag No. 2 you have a second outside reversal 2 号红旗是第二次外部反转
so this is an outside reversal 所以这是一个外部反转
this is an outside reversal 这是外部反转
then red flag No. 红旗 3
3 is when you don't get followed through here 第 3 个红旗信号是你在这里没有得到跟进
and then red flag No. 4 is notice what they do here 然后4号红旗就是注意他们在这里做了什么
they gap it up and they sell it 他们跳空卖出
and you're going to see that 你会看到
I'm going to go through 我会通过
so many examples where you have 很多例子
like two or three kind of 像两三种
hey I want to pay attention to what they did here 我要注意他们在这里做了什么
and then oftentimes that kind of forth 然后很多时候，我把它叫做 "匕首"。
I'll call it like dagger 我称之为匕首
and the hardest they'll gap it up and sell it 最难的是他们会把它缝起来卖掉
and another thing I Learned from Trader Florida 我从佛罗里达交易员那里学到的另一件事
usually a stock will give you 3 to 4 通常一只股票会给你3到4
you know 你知道
signs to get out 出局的迹象
and it's not 而不是
so much that you want to act on signs 1 and 2 迹象 1 和 2 时采取行动
but you want to notice them so again sign 1 但你要注意到它们，所以还是迹象 1
sign 2 kind of sign 3 信号 2 信号 3
and then you know usually sign 4 is going to be the the 然后你知道通常征兆 4 会是
you know 你知道
the one you want to act on 你想采取行动的那个
and so this gap up here 所以这个缺口在这里
I think when you start to see it go a red degree 我认为，当你开始看到它达到一个红色的程度时
you know you can exit the position 你就可以离场了
now alternatively you could wait 或者你可以等待
and say hey I'm going to sell when it loses 等它跌到今天的低点时卖出
this day's low right here 这一天的低点
you know that's kind of what they talk about 这就是他们所说的
or don't yield disciples with their seven week 或者不屈服于他们的七周纪律
hold rule for me though I I choose to exit earlier 对我来说，我选择提前退出
but 但
only when I see you know those three or four signs if 但只有当我看到这三四个迹象时
you know if we start to lose the 10 day 你知道，如果我们开始失去10天的时间
say like right in here like right here 比如就在这里 就在这里
when you've really only had kind of one 当你真的只有一种
you know 你知道
chink in the armor 你知道
you probably want to try to 你可能想尝试
weight it out 掂量掂量
but once you get those two to three signs you know 但一旦有了两到三个迹象
then I think you want to be 我想你就会
you know a little more trigger happy and someone 你知道更多的触发快乐和某人
absolutely and 绝对的
there's absolutely an interesting question earlier 刚才有个有趣的问题
it might not be completely relevant to Nvidia but 这可能与英伟达不完全相关，但
do you have kind of a name for an ignite bar 你有没有点火装置的名称？
to the downside 下行
like we saw 就像我们看到的
a pretty strong selling bar in Tesla earlier 特斯拉早些时候出现了一个相当强劲的抛售条形图
it seemed kind of like 似乎有点像
a changing character at that moment 在那一刻发生了变化
yeah so uh 是的，所以
I don't know if you're talking like in a downtrend 我不知道你说的是不是在下跌趋势中
I would consider it like literally a nignite bar 我会把它看成是一个火柱
but just to the downside 但只是下行趋势
um but another thing 还有一件事
which actually I didn't put in this presentation 其实我没有把它放在这个演示文稿里
but is something that you 但你
definitely want to pay attention to 一定要注意
and maybe at the end of the session 也许在会议结束时
I can go through and show you a couple examples 我可以给你们举几个例子
is something called a three bar brake 这就是所谓的三杆制动
it's something you know JT from Ticker Monkey taught me 这是 Ticker Monkey 的 JT 教我的
and it's really when you have a bar 它实际上是当你有一个条形图
that encapsulates the price action of 将三根柱子的价格走势
all three bars in one 三条柱状线
that to me is a major red flag character change 这对我来说是一个重要的红旗特征变化
I can show you a ton of the stocks that have been 我可以给你看一大堆最近被
smoked lately 的股票
that all had three bar breaks 它们都有三根柱子的突破
some of those three bar breaks 其中一些三根柱子断裂
weeks in advance of when they 提前了几个星期
like if you go look at a song 就像你去看一首歌
we'll look at a song at the end 我们会在最后看一首歌
yeah and I'll show you 我会给你看
it had a three bar break 它有三小节的间歇
and then it went a little higher but 然后又高了一点
it couldn't break out 但没能突破
and then it sold off but the 然后就卖掉了
the writing was on the wall 但是
about three 大约三
to four weeks earlier when it had that three bar break 三到四周前，当它突破三根柱子时
and 和
so a three 所以
bar break is something you want to pay attention to 因此，你要注意三根柱子的突破
and it doesn't always mean the stock is going to 它并不总是意味着股票会
sell off right then and there 当即抛售
but to me it means that you've had a huge 但在我看来，这意味着你的股票已经发生了巨大的
changing character in the stock 股价发生了巨大的变化
and the stock is unlikely to 而且该股不太可能
you know really continue to advance in a meaningful way 继续大幅上涨
you know maybe it takes 你知道，也许它会
at the top of the three bar brake by a couple percent 在三根柱子的顶端刹住几个百分点
but it's you're playing with fire 但这是在玩火
once you see that three bar brake 一旦你看到三条柱形制动器
in the stock 在股票上
perfect I'll make sure that we cover that at the end 完美，我保证我们会在最后介绍这一点
yeah so that's important thanks to 这很重要，谢谢
thanks for that question 谢谢你的问题
because I didn't include that here 因为我没把它写进去
but it's it's 但这是
it's something that's 这是
you know very important to pay attention to 你知道这一点非常重要
okay so then trend lines 趋势线
so I definitely use trend lines 我肯定会用到趋势线
there is an art to drawing trend lines for sure 画趋势线肯定是一门艺术
I think that this comes with practice with experience 我认为这需要实践和经验
like everything else 就像其他东西一样
but 但是
1 you know just general principles 1 一般原则
the trend line should have at least three touch points 趋势线至少要有三个触点
so you know a real trend line you know 所以，你知道一条真正的趋势线
again sort of like using the 1020 EMA strategy 就像使用 1020 EMA 策略一样
you know it doesn't 你知道它并不
come into play that often 经常发挥作用
because it takes time for the the 因为
the trend line to even develop 趋势线的发展
right 没错
but it can be a great tool 但它是一个很好的工具
to help get you out of multi weak trends 帮助你摆脱多头疲软趋势
that have had two to three pullbacks 有两到三次回调
which define a trend line 这就是趋势线的定义
so I don't know if any of you guys took you 所以我不知道你们中是否有人上过
know 7th 8th 9th grade math or so and they 我不知道你们中有没有人学过七年级八年级九年级数学之类的课程
I can't even remember what they call the line 我都不记得他们怎么称呼趋势线了
but when you have a data set 但当你有一个数据集
and they want you to draw a line 他们要你画一条线
through the majority of the data 通过大部分数据
a lot of best foot 很多最佳脚
yeah exactly 没错
so sometimes you 所以有时你
sort of have to do that with a trend line 所以有时你必须用趋势线来做这件事
so you'll notice here the way that I drew this on Roku 所以你会注意到我在 Roku 上画这条趋势线的方式
I sort of drew through this little area here 我画过这个小区域
which ideally I would like to connect the lows 理想情况下，我想把低点连起来
but if you look at this we 但如果你看看这个
we we touch you know really to me almost one two three 我们触及了你知道的对我来说几乎是一二三
four five kind of six areas and we and we 四五种六个区域，我们和我们
you know do our best to touch all the lows 你知道我们会尽力触及所有低点
but in reality this is the trend right here 但实际上这就是趋势
like I think that's probably clear to most 我想大多数人都清楚这一点
people on here 这里的人
but in this specific instance with Roku 但在 Roku 这个具体例子中
I would say around right here 我想说的是
when this you know continues higher like at this point 当这个你知道继续走高，就像在这一点上
you know so not 你知道，所以不是
not here but at this point right in here when we 不是在这里，而是在这里的这个点，当我们
you know come back up off this pullback 从回调中回升
to me we know we have a valid trend line 我就知道我们有一条有效的趋势线
and that we've got kind of one area of two 我们已经有了一个区域两个
area of three areas 三个区域
and we could easily come back here and kept going and 我们很容易回到这里，继续前进
and we keep right in this trend 我们继续保持这个趋势
but 但是
you'll notice multiple 你会注意到多个
you know kind of 你知道的那种
red flags here prior to breaking this trend line 在突破这条趋势线之前，这里有多个红色信号
1 being 1 是
some different candle combos here 一些不同的蜡烛组合
you know this 你知道这
just is not the best price action 这不是最好的价格走势
it's not bad price action 这不是糟糕的价格行为
it's just kind of like oh we didn't follow through 只是有点像哦，我们没有跟进
and then this almost looks like a flag 然后这个几乎看起来像一个旗子
sorter right here 就在这里
and they you know kind of sell into it 然后他们就会卖出
this is sort of a false breakout 这是一种假突破
it's not on volume though 虽然没有成交量
again so it's it's not a major red flag 所以这也不是什么重大信号
but it's just kind of something to pay attention to 但需要注意的是
another a gap down 另一个向下跳空缺口
again it's just kind of like 又是这样
well that's not great 这不是很好
but it finds supports it's no big deal 但它能找到支撑，没什么大不了的
but here you'll see they traded up 但在这里，你会看到他们向上交易了
and it kind of closes 然后收盘
like what I call it spinning top 就像我所说的陀螺
it's a candle 这是一根蜡烛
you know thing to pay attention to which will go over 你要注意的是它会翻转
but then after all this evidence 但在这些证据之后
you get this big outside reversal on volume 你就会得到这个大的外部反转
and to me 对我来说
and I actually did do this 我确实这么做了
I sold my position on this day 我在这一天卖出了我的仓位
and actually I had 实际上我
bought some more right in here 在这里又买了一些
and then sold the whole thing 然后全部卖出
but 但是
then we break this trend on a gap down 然后我们在一个向下跳空缺口打破了这一趋势
if you hadn't got out yet 如果你还没有出局
I think you know you want to get out on the gap down 我想你知道你想在向下跳空时出局
you know even though you might be selling it down here 即使你在这里卖出
you're losing the trend 你失去了趋势
and many times you'll see 很多时候你会看到
you know 你知道
this thing could have just blown all the way down 这东西可能会一路下跌
to the 200 day 到200日线
it did happen to 它确实发生了
to put in a crossback but this 但这是一个楔形下跌
is a wedge drop right here 这里是楔形下跌
and then it has a crossback 然后它有一个交叉回调
with another outside reversal 另一个外部反转
and moose lower 驼鹿走低
but the point is is that you define this trend 但重点是，你确定了这一趋势
and then when we break it 当我们打破它时
nobody knew how low Roku would go here it didn't matter 没人知道 Roku 会跌到多低，这并不重要
oftentimes they'll just rebase and go higher again 很多时候，它们会反弹并再次走高
but the trade is over 但交易结束了
when you lose this trend line 当你失去这条趋势线时
if you're using the trend line as a cell signal 如果你用趋势线作为单元信号
and oftentimes a trend line will marry up 通常趋势线会与移动平均线相吻合
with the moving average 与移动平均线
that you're using to sell 你用来卖出的移动平均线
in this case it would be the 20 day 在这种情况下，就是 20 日均线
and the reason being 原因是
is because the trend line is literally created 是因为趋势线是
off of price action 根据价格走势
just like you know the moving averages are created 就像你知道的移动平均线一样
an awesome price action 令人惊叹的价格走势
so in a tighter 所以在一个更紧密
more refined trend like we saw with Navidia 更精细的趋势中，就像我们在纳维迪亚公司看到的那样
you know the trend line is 趋势线
you know marries up with the 10 day 与 10 日均线相连
whereas in this instance where it's you know 而在这种情况下，你知道
a loser trend it marries up with the 20 day 而在这种情况下，你知道它是一个失败的趋势，它与20日线相吻合
so often 所以
the trend line is just like sort of another argument 趋势线就像是另一种说法
you know when it comes to executing 在执行
on the moving average strategy 移动平均线策略
but it's important 但重要的是
to utilize it just to kind of have more 利用它只是为了有更多的
reasons as to why you're making the correct decision 你做出正确决定的理由
and do you draw these trend lines on 你是主要在日线图上绘制这些趋势线
a daily chart primarily or will you also draw them on 这些趋势线是主要画在日线图上，还是也会画在
on a weekly chart 周线图上
yeah I'll draw them on a weekly for sure absolutely 是的，我当然会在周线图上画这些趋势线。
cool 酷
I may I may on the weekly you know maybe on the weekly 我可能会画在周线图上，你知道的，可能会画在周线图上
I've taken 我已经
you know two to three different daily chart trades 两到三个不同的日线图交易
but I'm drying the trend line on the weekly 但我正在晾晒周线上的趋势线
so that I can see 这样我就能看到
like hey you know this stock 这只股票
on this higher weekly time frame is healthy 在这个较高的周线时间框架上是健康的
you know I can still look for 你知道我仍然可以寻找
daily area you know bases to trade on 日线区域进行交易
but yeah trend lines like anything else they're 但是，趋势线就像其他任何东西一样，它们是
all this stuff is valid on all time frames 所有这些东西在所有时间框架上都是有效的
just as you 就像你
work down in the time frame 在时间框架内往下走
understand you're going to have more signals 你就会有更多的信号
which means 这意味着
more areas to execute and also more whip sauce 更多的执行区域和更多的鞭子酱
and that's uniform for anything I talk about 我所说的任何事情都是统一的
perfect and 完美
could you talk a little bit about whether 你能不能谈谈
you use log scale or arithmetic 使用对数刻度还是算术刻度
and also kind of 以及
why you've chosen that 你为什么选择对数
so I use arithmetic charts 我使用算术图表
I don't use log scale charts at all 我完全不使用对数刻度图表
and the reason being is because I think 原因是我认为
that's what most other people use 那是大多数其他人使用的
and in reality 而实际上
I'm trading against other people 我是在和别人对着干
because I'm trading against 因为我在与
all the other buyers and sellers in the market 市场上所有其他的买家和卖家
and I think I can analyze 我认为我能分析
you know the action better than them 你比他们更了解行情
or whatever you want to call it 不管你怎么说
I want to analyze with most other people are looking at 我想分析大多数人在看什么
and I think most people are looking at 我认为大多数人都在看
arithmetic charts 算术图表
perfect I don't see any more questions 很好，我没看到其他问题了
oh here's one good one 哦，这里有一个很好的问题
do you use do you draw like 你是否使用
kind of parallel trend lines at any point 平行趋势线
obviously you do draw your kind of channel 很明显，你会画你的那种通道
which you talked about 你上周谈到过
last week but yeah can you talk about that 但你能谈谈吗？
yeah so I do I do think drawn channel lines 是的，我确实画了通道线
so like here you know 比如这里
you'd probably have a line drawn up here in some way 你可能会以某种方式在这里画一条线
and that can also be a good area 这也可以是一个很好的区域
you know for example we 比如我们
as you get later in the trend you know 在趋势的后期
these extensions will often kind of Peter out at the 这些延伸线通常会在
at the you know channel resistance line 通道阻力线
so you know if you 所以，如果你
think we're having a second extension 如果你认为我们正在进行第二次延伸
and you started to see a red flag 并开始出现红旗
type action into that 类型的行动
channel resistance line 通道阻力线
you know maybe you can be more proactive 也许你可以更积极主动
and taking some off the table 在看到刹车之前
before you even see the brake 在你看到刹车之前
you know kind of selling it to strength 你知道，这是一种卖出力量
so channel resistance lines are definitely something 所以通道阻力线绝对是
that I use 我使用
I would say it's you know more of an advanced technique 我认为这是一种高级技术
something you can definitely read about 你可以阅读
and how to make money in stocks 以及如何在股票中赚钱
I think he generally uses the 我认为他一般使用
I want to say it's the 我想说的是
the fourth breach of that channel line 第四次突破通道线
and actually there's a really good example 实际上有一个很好的例子
that I think is going to play out 我认为会出现
of a fourth breach 第四次突破
to me the strongest stock in the market right now 对我来说，目前市场上最强劲的股票
being apple 苹果
that's taken place you know literally right now 这已经发生了 你知道字面上的现在
perfect 完美
yeah I don't see any more questions on trend line 是的，我没看到任何关于趋势线的问题了
so I think we can move on 我想我们可以继续了
all right 好的
so extensions 所以扩展
so 所以
everything I've gone over so far 到目前为止我所做的一切
as far as selling with the 1020 EMA 至于卖出 1020 EMA
and the rising trend line 和上升趋势线
you know to me those are really 对我来说，这些都是
protecting you from losing your position 保护你不丢失仓位
or from losing your profits before the stock 或在股票
really falls apart 损失利润
but none of those are really 但这些都不是真正的
selling into strength right 卖出强势股
so selling an extension is selling into strength 因此，卖出延期股就是卖出强势股
and I think it's definitely something that's important 我认为这绝对是很重要的事情
to incorporate 纳入
into your approach 到你的方法中
because oftentimes with grow stocks 因为很多时候
if you're not selling into strength 如果你没有卖出强势股
I mean you could be given back 我是说
1/3 to half of your profits by the time your 1/3到一半的利润。
Protection exit stop losses hit 保护退出止损
so what is an extension 那么什么是延期
I'll tell you what it is to me 我来告诉你对我来说它是什么
when a stock stretches to an extreme 当一只股票从 10 EMA
from the 10 EMA 从 10 EMA
they're likely to snap back 它们很可能会折返
so it doesn't mean that a stock is you know 所以这并不意味着一只股票你知道
topped or anything like that 见顶或类似的情况
it's just the idea that when a stock gets a 这只是一种观点，当一只股票
little bit ahead of itself 有点超前
it's likely to pull back 就有可能回调
now there are 现在有
some extensions that should be more aggressively 现在有一些扩展应该更加积极
quote and quote 报价和报价
sold into 卖出
in some extensions that maybe just 在一些延伸市场，也许只是
you know hey 你知道吗？
I want to temper my expectations 我想降低我的期望值
that this thing's just going to rip higher 这件事只是要撕裂更高
it's likely to you know consolidate a little bit first 它可能会先巩固一下
so that being the 所以
you know if the stock is very extended from the 10 week 如果股价从10周均线开始延伸
moving average and it's also extended from the 10 移动平均线和 10
day moving average 日移动平均线
you know you want to 你想
more likely be 更有可能
proactive and 主动出击
at least taking some profits off the table 至少从中获利
whereas you know if it's just extended from the 10 day 而如果只是从 10 日均线开始延伸
so for example if we look this is 举例来说
this is that same chart in the video 视频中的图表
but I put the weekly here in the daily here 但我把周线放在了日线这里
you know right here on the daily 你知道就在日线图上
you know maybe this far it at the time 你知道，当时也许就这么远
it doesn't now 现在没有
but at the time 但当时
it might look a little extended from the 10 day right 它可能看起来比10日线延长了一点，对吧
but on the weekly it's like just breaking out 但在周线上，它就像刚刚突破一样
so it's not really extended 所以它并没有真正延长
whereas right here 而这里
which is about here you know 就是这里
hey we're a little extended 嘿，我们比
from the 10 week 从 10 周开始
but it's really 但这真的
like the first time we get extended on the 10 week 就像我们第一次延长了10周的时间
but then right here 但在这里
we're up here we're about 30 percent from the 10 week 在这里，我们比 10 周延长了 30%左右
you know that's that's pretty significant 你知道，这是非常重要的
in the sense that we're extended from the 10 week 从这个意义上说，我们从 10 周延长到了 10 周
and we're having our second real extension from the 10 我们正在进行第二次真正意义上的10周延期
day you know 天
you probably want to be taking sub off the table 你可能想从桌子上拿点东西下来
I'm not saying sell your whole position here 我不是说在这里卖掉你的全部仓位
I would say if you're using barge in 我想说的是，如果你正在使用 "闯入 "的方法
which I'll talk about later 我稍后会讲到
you should definitely be taking some off the table here 你肯定应该在这里抛掉一些仓位
but maybe you take some off and then you utilize 但也许你可以先抛掉一些，然后再利用
your exit stop loss to take you out of the position 您的离场止损让您脱离头寸
and you know what this isn't perfect 你知道这并不完美
sometimes in trending environments 有时在趋势环境中
you may reduce into strength 您可能会在强势中减仓
only to see the stock move higher 结果却看到股价走高
I can tell you myself in Navidia 我可以告诉你我在 Navidia
I basically took my position off here 我基本上把仓位从这里撤掉了
I've traded it since 我从
you know 你知道
it continued to go higher and that's just how it goes 它继续走高，就是这么回事
but I will say the second extension 但我要说的是，第二次延长
often leads to a basing period 往往会导致一个筑基期
and the third extension if you get there 如果你到了第三次延长期
I can show you 我可以给你看
some examples 一些例子
from last year where we even got a fourth extension 去年，我们甚至获得了第四次延期
Twilia comes to mind 我想到了 Twilia
where we got a third and fourth extension 我们得到了第三次和第四次延期
but generally speaking 但一般来说
the second extension will often lead to a basin period 第二次续约通常会导致一个盆地期
and definitely the third extension for me 对我来说，第三次延期也是如此
the third extension 第三次延期
I think you can sell your old position 我认为你可以卖出旧仓位
for me at least 至少对我来说
but that's very likely to lead to a basic period 但这很可能导致基本期
when I say a basic period I mean 我说的基本期是指
somewhere in the range of 我说的基本期是指
40 weeks or something like that 40 周左右
which for me 对我来说
I just don't like to hold through that stuff 我不喜欢在这种情况下持股
so I want to exit my position 所以我想退出我的头寸
but the percent extension 但延长百分比
because I know this question is going to come up 因为我知道这个问题会出现
is at your discretion 由您决定
and 而且
again it comes back to the personality of that stock 这又回到了股票的个性上
you know if we're trading a 如果我们交易的是
you know low float high flyer 低浮高飞的股票
it's likely going to get further from the 10 它很可能会远离 10
week and the 10 day 周和 10 天
than it for trading 而不是交易
you know something like apple 比如苹果
or you know something like Proctor and gamble 或者像宝洁这样的公司
so you got to take that into account and actually 所以你必须考虑到这一点，实际上
at the end again Richard remind me 最后理查德再次提醒我
I was given kind of a study that's been done on this 我得到了一份研究报告
looking at different types of stocks 研究不同类型的股票
you know large caps mid caps small caps 大盘股 中盘股 小盘股
and roughly 大致
about how far they get from the 50 day and the 200 day 它们离 50 日线和 200 日线的距离有多远？
so it's you know not the 10 day 所以这不是 10 天的数据
but the numbers 但这些数字
are about what I would expect 和我预期的差不多
generally speaking 一般来说
on like a more liquid large capstock like a Navidia 像纳威迪亚这样流动性较强的大盘股
or something like that 之类的股票
when you get like 30 percent above the 50 day 当你在50日线上方获得30%的收益时
you know which is about equivalent to the 10 week 你知道，这大约相当于 10 周
the stocks likely to Peter out 这些股票就有可能被抛出
you know the best case scenarios will be about 你知道最好的情况大约是
40 to 41 percent above 40%到41%以上
and I think the worst case scenarios will be like 25 我认为最坏的情况是25%
I'll show you guys the numbers at the end 我最后会给你们看数字
but those are kind of rough levels to pay attention to 但这些都是需要注意的粗略水平
whereas like a small cap high flyer 而像小盘高飞股
I can't remember the number off the top of my head 我不记得数字了
but we'll look at it 但我们可以看看
you know that number is going to be much 你知道这个数字会
much higher because the personality that stock is 因为这只股票的个性
the thing can just absolutely explode 它绝对会爆发
so the percent extension from the 10 因此，10 天内的延期百分比
days at your discretion 天，由你决定
and you have to take that stock personality to account 你必须考虑到股票的个性
perfect let me see if there are any questions here 很好，让我看看这里是否有任何问题
do you try to correlate the extensions with 你是否尝试将扩展与
the overall in X's at the same time 同时与 X 的整体相关联吗？
yes yes so for example if I think that the 是的，是的，例如，如果我认为
you know stock is is 你知道股票是
is going to be 将是
or if I think the index is 或者如果我认为指数
is going to 会
you know top out I'm going to be more likely to 我就更有可能
you know if I see the index breaking down and topping 如果我看到指数下跌并见顶
you know I'm going to be more likely to 我就更有可能
you know take gains 获得收益
on an extension in a stock that maybe 我更有可能
I think it's been one of the strongest stocks 我认为它是最强势的股票之一
but 但
you know I think the index is breaking down 但我认为指数正在下跌
so maybe maybe that second extension 所以也许第二次延长
is literally going to be the top for that stock 是该股的顶部
you know 你知道
so yeah you got to take the index into it kind of 所以是的，你得把指数考虑进去
the index is breaking down 指数下跌
and your stock is putting in a second extension 而你的股票正在进行第二次延伸
you know that second extension will 你知道，第二次扩展
likely prove to kind of be the top for that stock 可能会成为该股的顶部
you know so you definitely want to be 所以你一定要
paying attention to the index 关注指数
to a degree perfect 在一定程度上完美
and I thought 我想
this is a really good question from Stephen 斯蒂芬提出的这个问题非常好
any differences in handling extensions 在处理扩展
with an earnings gap up case 有盈利缺口的情况下
he struggles with handling trades that start extended 他在处理开始延长的交易时很吃力
from the 10 week 从 10 周开始
because you do have that initial gap up 因为你确实有最初的跳空缺口
yeah so I struggle with this to a degree too 是的，所以我在某种程度上也很难处理这个问题
you know the best earnings gaps aren't 你知道最好的盈利缺口并不是
actually going to be coming 实际上会出现
like out of sound basing patterns right 就像从良好的基础形态中走出来一样，对吧
sometimes a stock can gap up so much 有时一只股票会跳空大涨
that it is you know pretty extended already 你知道它的涨幅已经相当大了
now the kept 22 is 现在保持的 22 是
some of the best earnings gaps to play are 最好的盈利缺口是
the big gap UPS 大缺口 UPS
so 所以
it's tough to have hard rules on that I would say that 所以很难有硬性规定，我想说的是
you know generally 一般来说
if you get a massive gap away from the 10 week 如果你从 10 周线上获得一个巨大的跳空缺口
it's often 通常
going to consolidate a little bit to at least allow 会稍作整理，至少让
you know the daily moving average to catch up 让日移动平均线跟上
before it starts to move higher 然后再开始走高
so I don't have any hard rules on that 因此，我没有任何硬性规定
on that I would say 我想说的是
generally though 一般来说
the stock is going to base some until 股价会有一定的基础，直到
least the daily moving 至少在每日移动
I would just catch up 我只是赶上
just just because exactly what you say it's extended 因为正如你所说的，股价已经上涨了
and actually I got these 实际上，我得到的这些
numbers 数字
this is the thing that I'm kind of looking at right now 这就是我现在正在看的东西
I'm not positive where exactly this came from 我不知道这到底是怎么来的
but you know a member of Ticker Monkey 但你知道 "滴答猴 "的一个成员
posted it and I'm kind of reviewing this 发布的，我正在查看这个
so just kind of incorporate into what I already do 所以我把它融入到我已经在做的事情中
you know it uses the 50 day and the 200 day 你知道它使用 50 天和 200 天
and I'm not positive exactly what they 我不确定它们到底是什么
you know 你知道
what the rules are 规则是什么
they qualifies a small cap press a large cap leader 它们将小盘股压制大盘股领导者
but you know these are 但你知道这些都是
these are good rough general rules that thumb 这些都是很好的一般经验法则
I generally trade more liquid type stocks 我一般交易流动性较强的股票
so I'm probably a little more interested 所以我可能对
in these numbers 这些数字
but you know let's say I'm trading a name 但比方说，我交易的股票
that has a smaller market cap 市值较小
that's more of a high flyer 但如果我交易的股票市值较小
you know I I pay attention to these numbers 我就会关注这些数字
I'd say these numbers are much more uh 我觉得这些数字更有价值
you know like you get one 46 就像你得到一个46
verse 79 versus 41 verse 29 79比41比29
I mean there's they're much more variable 我的意思是，它们的变化要大得多
which sort of makes sense 这是有道理的
and that the 而且
overall movements of these types of stocks is 这类股票的整体走势
much more variable 更加多变
as well 也是如此
so this is just some numbers that I'm kind of 所以，这只是一些数字，我是通过不同的名称
going through different names and in studying myself to 通过不同的名称和研究自己
just 只是
get an ideas to you know how valid I think they are 你知道我认为它们有多有效
but based on what I'm seeing so far 但根据我目前所看到的
I think they're pretty valid 我认为它们非常有效
and I think if you were to go back and look at 我认为，如果你回头看看
some things like Navidia 像纳威迪亚
Tesla etc 特斯拉等
from just even this recent run which I've been doing 甚至最近我一直在做的事情
they they pretty much you know confirm 它们几乎证实了
what I'm seeing here so far 我目前所看到的
but I'm actively doing this review right now 但我现在正在积极做这项审查
but these are some some numbers to you know 但这些数字
consider for yourself when you're 当你
when you're looking at these extensions 当你看到这些扩展时
perfect 完美
and again I don't know 我也不知道
everything that went 一切
into what they defined as a smaller large cap 他们把什么定义为小盘股
but you know there's just a rough 但你知道这只是一个粗略的
guide for you I guess 指南
all right 好的
okay so next would be 好了，接下来是
you know something I call a mini channel 我称之为迷你渠道
where I Learned this from Dan Zanger 这是我从丹-赞格那里学来的
he calls it a frozen rope 他称之为冰冻绳索
and I don't know how he defines it but 我不知道他是怎么定义的，但是
you know the way I define it at least is 至少我的定义是
it's a multi week move with very low volatibility 它是一个多周的走势，波动性很低
that to me just becomes obvious to all participates 对我来说，这对所有参与者都是显而易见的
though it's extremely kind of tight 虽然它非常紧
quote unquote frozen rope 冷冻绳索
and 而且
to me when these do break 对我来说
you know you can get very very quick profitation 你就能很快获利
so I think you know 所以我认为
this is more of an example 这是一个例子
where the whole move is with very low volatility 整个波动率非常低
but I'll show you some examples 但我会给你看一些例子
when we go through the examples where 当我们通过例子
at the ends of moves 在走势的末端
you'll often see stocks kind of accelerate 你经常会看到股票在走势末期加速上涨
near the end of their move 接近尾声
or they'll just show accumulation every day 或者它们每天都在累积
they'll almost start riding the 5 day like this 它们几乎开始像这样在 5 日线上运行
and when they break you can see like very very 当它们突破时，你会看到非常非常
very quick unwinds 快速平仓
so 所以
this is just sort of like a tool to be aware of 这只是一种需要注意的工具
I don't think you see frozen ropes all that often 我不认为你会经常看到冰冻的绳子
but when you do see them you want to be aware 但是当你看到它们的时候，你就要注意了
because when they break 因为当它们断裂时
you know you can get very very quick profit taking 你会很快获利了结
and that's kind of what we see here in Amba 这就是我们在安巴看到的情况。
so I went over this example in Amba 所以我举了安巴的这个例子
where we got in in this range 我们进入了这个区间
and it started working higher 然后开始走高
and then this frozen rope was defined 然后这个冻结的绳索被定义
you know this very very very tight channel 你知道这个非常非常紧凑的通道
where you have 你有
this becomes obvious right 这变得很明显
it's not like this isn't an obvious pattern 这并不是一个不明显的模式
you know they can go on for quite a while 你知道它们可以持续很长时间
but when they do break 但当它们被打破时
I mean literally amble loses 10 percent 我是说从字面上看，安布尔损失了10%
in one day 在一天之内
and they usually do break 它们通常会
with like a gap down like this or something 像这样的缺口
where maybe you have a big frozen rope 在那里，也许你有一个大的冻结绳
you get a downgrade 你会被降级
or you know something that's really insignificant 或者一些无关紧要的事情
but for whatever reason the stock traits down big 但不管什么原因，股价都会大跌
for me 对我来说
you want to be quick taking your profits when these 你要在这些情况发生时迅速获利
frozen ropes break 冻绳断裂
like literally 比如说
maybe like premarket or right on the open 也许像盘前或开盘时
just get out of the position 立即离场
so not something 所以
that I think you're going to see all that often 我认为你会经常看到这种情况
or something that I think 或者我认为
you know you should be 你知道你应该
the main thing you take away from today definitely not 你今天的主要收获绝对不是
but when you do see them 但当你看到它们时
be aware that when they break 要知道，当他们打破
you know it can lead to some significant profit taking 你知道这可能会导致一些重大的获利回吐
I even think you can see situations where 我甚至认为你可以看到这样的情况
the whole thing completely unwinds 整个市场完全解套
when that frozen broke breaks 当冰点破裂时
so 所以
you know I have spent too much time on this because I 你知道我在这上面花了太多时间，因为我
I don't think you see them that often 我不认为你会经常看到这种情况
but just be aware 但要注意
perfect I think this would be a good time for 我觉得现在是个好时机
to take a break Oliver if that works for you 休息一下，奥利弗，如果这对你有用的话
yeah does it work yeah 是啊，有用吗？
yeah absolutely 当然
cool so it's it's 酷，所以它是它是
12 17 right now we'll come back in 现在是12点17分，我们再回来
let's say let's come back at 12 25 比方说，我们12点25分回来
all right 好的
so next I would say you know risk reward selling 接下来我会说风险投资
and then another thing that I just call sell some 然后另一件事，我只是所谓的卖出一些
hold some 持有一些
and so I'm going to go over kind of the three areas 我将从这三个方面进行分析
you know where you should be considering 你应该考虑
risk reward zone 风险回报区
so one would be 一个是
you know selling like an initial quarter or third 卖出最初的四分之一或三分之一
you know I read half here 你知道我在这里读到了一半
but really like a quarter to a third 但实际上是四分之一到三分之一
in my opinion 在我看来
of your position 的仓位
within the first three to five days after a breakout 在突破后的三到五天内
you know 你知道
probably at like three to five times your initial risk 可能是你初始风险的三到五倍
so if you're risking like 1 to 3% 所以如果你冒着1%到3%的风险
you know 你知道
this is kind of selling in that 5 to 10 percent range 这是在 5%到 10%的范围内卖出
I don't always do this as much 我并不经常这样做
personally 我个人
I kind of take it on a 我把它放在
on a you know more of like a swing trade a later 你知道，这更像是一种波段交易，一种后期交易
term trade if you will 如果你愿意的话
more likely to be doing this where it's like 更有可能这样做，就像
from an initial base breakout 从最初的基础突破
where I think there's a chance for a real move 我认为有机会出现真正的波动
you know I like to try to hold my position 你知道，我喜欢持有仓位
but I do think it's something very valid to do 但我认为这是非常有效的做法
I think it can help pay 我认为这有助于
for your initial risk 你的初始风险
if that breakout does end up failing and not working 如果突破最终失败，没有成功
and I think it's a very very very valid concept 我认为这是一个非常非常非常有效的概念
that many people should consider 很多人都应该考虑
but then two is as the trend progresses 其次，随着趋势的发展
you know if you start to see red flags or 你知道，如果你开始看到红旗或
you know early signs of distribution 你知道分配的早期迹象
you know it may make sense to further reduce 进一步减少
a third to a quarter of a position 三分之一到四分之一的仓位
so for me you know 所以对我来说
this is when I probably start to take off like a third 这时候我可能会开始减仓三分之一
or so a position 左右的仓位
and you know it's really just to assure that you 你知道这只是为了保证你
you bank some money pretty much 你把钱存入银行
on the trade 交易
and then lastly 最后
you know you can sell your final piece 你知道你可以卖出最后一块
or the core if you will of your position 或核心头寸
into an extreme extension 进入极端扩展
so for me this would be the second extension 所以对我来说，这将是第二个延伸
or gets stopped out on weakness 或因疲软而止损
on the loss of a rising trend line 失去上升趋势线
or the 1020 EMA 或 1020 EMA
depending on what strategy or implementing 这取决于执行何种策略
so kind of the same way for me 对我来说也是如此
with that initial 最初的
or the three types of stops you've got 或三种止损方式
you know kind of 你知道
your max paint then your break out day 你的最大涨幅，然后你的突破日
then kind of your brake even 然后是刹车
and then you're trailing it up 然后你就可以跟踪它了
on the cell side of things 在电池方面
you know you can have kind of your initial just 你知道你可以有一种你的初始只是
you know call it 你知道称之为
your risk covering cell 你的风险覆盖单元
and then two you would kind of have your 其次是你的
let me take a piece off and into strength 让我摘下一块，加入力量
you know sort of just because 因为
and then three would be 第三种是
I'm exiting my position 我要退出我的仓位
so those are the kind of things that I would say there 这些就是我要说的内容
and then 然后
two other things to touch on here 还有两件事要谈
is you know I know some people use margin 我知道有些人使用保证金
I certainly wouldn't you know tell people to use margin 我当然不会告诉人们使用保证金
definitely not 绝对不会
but if you do 但如果你这样做
if you're trading with margin 如果你使用保证金交易
you have to sell some of your position into strength 你必须卖出一些仓位来增强实力
like definitely 比如说
from in my opinion 在我看来
I sort of view margin as like the cherry on top 我认为保证金就像樱桃一样
that allows you to reduce your returns 让你减少回报
but it's a double edged sword right 但这是把双刃剑，对吧
it can cut both ways so 它可以双刃剑，所以
you know kind of the general rule of thumb is 你知道一般的经验法则是
so margin in the strength and equity into weakness 在强势中保证金，在弱势中股票
so be 所以要
proactive in taking the leverage part of your position 积极主动地利用你的杠杆作用
off um 关闭
so you can you know 这样你就可以
sort of let that 让
non leverage portion of the position 非杠杆部分的仓位
have more room and 有更大的空间
and work for you 为你工作
um but the last thing you want to do is you know 但你最不想做的事情就是
have a bunch of margin on and add another position 有一堆保证金，再加一个仓位
and then like they all stop out and and you're you know 然后就像它们都停止了一样，你就知道
given back a lot of your games 你就会失去很多游戏
so 所以
you know definitely if you're going to be using margin 如果你要使用保证金的话
which again I'm 我
I'm not advocating anybody do that but if 我不主张任何人这么做，但如果
but if you do 但如果你这样做
you know I recommend 我建议
definitely selling a portion of your position 卖出部分仓位
into strength 力量
now for 现在
everybody else 其他人
you know this kind of third concept on this page is 本页的第三个概念是
you know what if the stock gets 如果股价
so far from my stop loss that my open exposure 离我的止损点太远，以至于我的敞口敞口
is too high 过高
and it's what I mean by this is 我的意思是
you know 你知道
let's say a stock gets real extended from your stop 比方说，一只股票离你的止损点太远了
and you know you're gonna give back like 你知道你会回吐像
30 percent of your gains or 20 percent of your gains 30%的收益或20%的收益
you know 你知道
before your stocked out 在你的股票出局之前
one 一
I would say this often aligns with an excess extension 我想说的是，这通常与超额延期一致
so just take that into account and is that oftentimes 所以只要考虑到这一点，而且很多时候
it's an area to be reducing your position 这是一个减少仓位的领域
you know strictly just by working the strategy 你知道，严格来说，只是通过工作策略
but you know then 但你知道
two is if you have a stock that is you know 二是如果你有一只股票，你知道
20 percent above like the 10 day 高于10日线20
and it's you know we're six weeks into the move 而且你知道我们已经走了六周了
and you know you think realistically you know 你知道你认为现实的你知道
if everything works out perfectly like 如果一切顺利的话
maybe I can make another 20 percent 也许我还能再赚 20
or so 左右
you know that that whole rest reward equation 你知道，整个休息奖励等式
is not in your favor at that point anymore and that 已经不再对你有利了 而且
you know you have the potential to take as much heat 你知道你有可能在你的止损点承受同样多的热量
to your stop as you do 的热度
for even future games if things work out perfectly 甚至在未来的比赛中，如果一切顺利的话
so to me you want to take some of your position off 所以对我来说，你想在这种情况下减仓
in those situations 在这种情况下
you know strictly to kind of 你知道严格来说
keep that risk reward relationship in balance 保持风险收益关系的平衡
so for me I say you know sell some hold some 所以对我来说，卖出一些，持有一些
and what I write here is 我在这里写的是
if you determine that you're going to give back 如果你确定要回吐
an excess amount of gains 超额收益
relative to what you think your potential upside 相对于你认为的潜在上涨
profit might be 利润
that it makes sense to reduce some of the position 减少部分仓位是合理的
to continue to keep 继续保持
the rich reward relationship in your favor 对你有利的丰厚回报关系
so 因此
this generally always lines up with an extension 这通常与延期一致
but I would say 但我会说
you know let's say that you have a lot of heat 你知道，比方说，你有很多热量
that you could take on your position 你的立场
and you have yet to reduce 而你还没有减少
any of the position 任何头寸
it probably makes sense to take some of that off 现在就去掉一些吧
now 现在
if you've already taken off and reduced your position 如果你已经脱手并减少了仓位
into strength 实力
you know maybe you're in a position where you decide 你知道，也许你已经决定
you know hey because I booked some profits 因为我已经获利了
I'm willing 我愿意
to you know give the stock that much room 你知道给股票那么大的空间
you know that's fine 你知道这很好
but I guess is what I'm saying is 但我想我要说的是
if you have a full position 如果你满仓
and the distance steer stop is so large 如果你满仓了
that it doesn't justify holding that full position 那就没有理由保持全位置了
put that cell some 将该单元
hold some 持有一些
approach into work and book some of those profits 方法，并将部分利润入账
let's see if there's any questions real quick 让我们看看是否有任何问题，真正的快
I don't think 我不认为
I don't see anything specifically with this 我不觉得这有什么特别的
oh here's here's one 这里有一个
um 嗯
the problem with most 大多数
traders is that the stocks all go down together 大多数交易员的问题是股票都一起下跌
how does do you handle 你如何处理
if you have 5 positions and 3 of them 如果你有 5 个仓位，其中 3 个
have already hit stops 已经触及止损点
do you readjust the stops on the remaining ones 你是否要重新调整剩余的挡块
I guess the question 我想问题是
if you have five 如果你有五个
positions and three have hit their stops 三个仓位触及止损点
so I mean I try to treat each position on its own merit 我的意思是，我会根据每个仓位的具体情况来处理
in the sense that I think if I'm 我认为如果我
trading each position correctly it's gonna be okay 每个仓位的交易都是正确的，就不会有问题
the thing you want to be careful of 你要注意的是
is let's say that you have you know 比如说你有
three or four positions on 三四个仓位
and they're and they're and they're getting extended 它们都在不断扩大
and then you add a fifth position right 然后再加第五个仓位
but you know 但你知道
you've got open heat on those three or four positions 你在这三四个位置上有开放的热量
let's say that those three or four now pull back 假设这三四个位置现在回撤了
and you get stopped out on those 而你被止损了
and you get back those open gains 你就能拿回那些未平仓的收益
but then that fifth position you also get back 但第五个仓位你也会拿回来
principle because it just never works for you 原则，因为它从来都不适合你
you know that's what you want to be careful for 这就是你要小心的地方
so you want to be aware of what you're kind of overall 所以你要注意你的总体情况
open 开
risk is and take that 风险，并将其
into account 考虑在内
when it comes to kind of started new positions 在开始建立新头寸时
so you know let's say that you have a lot of exposure 比方说，你有很多风险敞口
maybe you decide 也许你决定
hey I'm not going to start any new positions 嘿，我不打算开始任何新的头寸
until I get the opportunity 直到我有机会
to raise my stops on what I already have 提高我已有仓位的止损点
because you don't want to put yourself in the position 因为你不想把自己置于
where you start getting aggressive later in the cycle 因为你不想把自己置于
and then you give back a bunch of your gains 然后，你又会因
by taking 因为
late positions and then getting stopped out of 晚期仓位，然后被止损
everything at once 一次全部止损
perfect 完美
okay 好吧
so 所以
candle combos as clues so I 蜡烛组合作为线索，所以我
do not like strictly trade off candle stick patterns 我不喜欢严格意义上的蜡烛形态交易
but I use them 但我用它们
to help me just kind of analyze the stock 来帮助我分析股票
but I always use them within context of where we are 但我总是在我们所处的背景下使用它们
in the overall price cycle 在整个价格周期中
because to me 因为对我来说
you know 你知道
depending where we're on the price cycle 因为对我来说
the movements may not matter as much 走势可能并不那么重要
um and then secondly 其次
I always use volume for confirmation when I'm an 当我在
analyzing candlestick patterns 分析蜡烛图形态时
you know if you have a shooting star that's like 你知道，如果你有一个流星，就像
got like literally no volume on it 没有成交量
it's not gonna matter as much to me 对我来说就没那么重要了
as if it's like a heavy volume reversal 如果它是一个大成交量的反转
so 所以
secondly here and this isn't really candles per se 其次，这本身并不是蜡烛图
but heavy volume with little movement 但成交量大而波动小
is generally stalling action 通常是停滞动作
and then wide range bars 然后是宽幅横盘
I say ignite bars but just wide range bars on 我说的是点火柱形，但只是成交量小的宽幅柱形
little volume 小成交量
is usually retail by 通常是由
and then I say here again 然后我再说一遍
but I want to emphasize that all 但我想强调的是，所有
candlesticks need to be taken within 烛台都需要在
context of the bigger picture 大背景下
you know where have we come from 你知道我们从哪里来
where are we in the trend 我们的趋势在哪里
how far are we from the 10 我们离 10
week or the 10 day moving average 周或 10 日移动平均线
because 因为
all that stuff is going to 所有这些都会
tell you whether a candle matters or not 告诉你一根蜡烛是否重要
sometimes a stock just 有时一只股票
you know isn't doing anything 什么都没做
it has a spinning top 它有一个旋转的顶部
but it's at an insignificant area 但只是在一个微不足道的区域
whereas if you're crazy 而如果你疯了
extended from the 10 week and the 10 day 从10周和10天
you know maybe it's a sign that 也许这是一个迹象
there's some stalling taking place 出现了一些停滞
or buyers are unwilling to step up 或买家不愿出手
and it is more significant 这是很重要的
so always pay attention to 所以要时刻注意
different candle patterns based on 不同的蜡烛形态
you know kind of where we are in the move 你知道我们现在所处的位置
and then secondly would be 其次是
you know 你知道
do we have multiple concerning candles in a row 在过去的几天或几周里，我们是否连续出现了多根相关蜡烛线
you know over the last few days or weeks 在过去几天或几周里
because 因为
you'll assume we go through examples 你会认为我们通过例子
you know 你知道
oftentimes you'll have three or four kind of like 很多时候，你会有三四个类似于
you know hey take note of this type candles versus 你知道嘿嘿注意这种类型的蜡烛与
you know just one candle that like 只有一根蜡烛
reverses the whole stock and everything falls apart 反转整个股票，一切分崩离析
it's usually like 通常是
over the course of a couple days or weeks 在几天或几周的时间里
that you start to see 你会发现
you know more and more little bits of evidence 越来越多的小证据
you know that a trend may be weakening 趋势正在减弱
or institutions may be taken some off the table 或机构可能会采取一些行动
so pay attention to multiple candles 因此，关注多根蜡烛
is going to be more important than just one candle 比一根蜡烛更重要
okay so the different candles that I use 我使用的不同蜡烛图
and again 再次强调
I highly recommend buying and reading the book 我强烈推荐您购买并阅读这本书
Japanese Candles to 日本蜡烛图
Charting Techniques by Steve Nissan 图表技术》一书。
because there's far more candles 因为蜡烛
combinations than this and he goes much deeper in it 组合，而且他在书中讲得更深
but generally speaking 但总的来说
the doji for me is a very important 对我来说，十字星是一个非常重要的
candlestick pattern 烛台形态
really is what it is 它的本质
is the open and close are just about the same 开盘价和收盘价大致相同
so the stock may go up it may go down 因此股价可能上涨，也可能下跌
but it closes right around where it opens 但收盘价与开盘价差不多
and it's an indecision candle 这是一根犹豫不决的蜡烛
it just means you know the 它只是意味着
neither party really took control of the stock 双方都没有真正控制股票
neither of the buyers nor the cellars really took 买方和卖方都没有真正控制股票
control 控制权
so it could mean nothing but it could mean something 所以它可能毫无意义，但也可能意味着什么
depending on what happens next 取决于接下来会发生什么
it's just a kind of a 这只是一种
let me take note of this 让我注意到这一点
a spinning top to me 对我来说，陀螺
is sort of the same as a doji 和 "十字星 "差不多
it's just less significant you know maybe 只是不那么重要，也许
the open and close are a little bit further apart 开盘价和收盘价相差有点远
but it's just kind of like an indecision candle 但它就像一根犹豫不决的蜡烛
you know 你知道
maybe it means nothing maybe it means something 也许毫无意义，也许意味着什么
but 但
you know let's see what happens the next few sessions 让我们看看接下来几个交易日会发生什么吧
and then the hanging man to me 对我来说
is almost the same 几乎是一样的
in that the open and the clothes are 在开放和衣服
close to each other 很接近
you know 你知道
a hanging man is when you have a move in advance 挂单是当你提前有了动作
and then you see profit taking 然后你看到获利了结
but they close 但他们收盘
the stock back up 股价回升
you know roughly around where it opens 你知道大致在开盘时的位置
it can be you know 这可能是
a reversal candle depending on what happens next 一根反转蜡烛，取决于接下来会发生什么
I think that these become especially important 我认为，当你看到
when you see like 当你看到
huge volume 巨大的成交量
on the downside in the morning when they sell it off 时，这些就变得尤为重要。
and then maybe it floats up on lighter volume 然后可能会以较小的成交量上扬
in the afternoon 下午
you know it could be a sign that there is 你知道，这可能预示着
like a little bit of distribution taken place 在引擎盖下
under the hood 在引擎盖下
but these are all just indecision candles 但这些都是犹豫不决的蜡烛
you start to see a couple of him in a row 如果你开始连续看到几根蜡烛
you want to pay a little bit more attention to it 你就要多加注意了
in and of their own 他们自己
you know just on their own 你知道就他们自己
you know 你知道
sometimes they can matter depending on where we are 有时它们的重要性取决于我们在哪里
you know if we're really 你知道如果我们真的
really accepted from the 10 day and the 10 week 真的接受了10日和10周
and we get a doji 而我们得到一个十字星
you know maybe it's a sign that 也许这是一个信号
that that stock is kind of petering out 这只股票正在逐步走弱
but you know if it's just kind of taken place 但你知道，如果它只是发生在
at any old random spot 在任何旧的随机位置
it may not mean much 那就没什么意义了
then next to be reversal candles 接下来是反转蜡烛
I'll put you go back to the hanging man example 我让你回到上吊者的例子
somebody want to 有人想
understand the kind of psychology behind that pattern 了解这种形态背后的心理
so to me the psychology is you had 对我来说，这种心理就是
you know profit taking in the morning 早上获利了结
and then 然后
you know it came back higher in the afternoon 下午又涨回来了
and kind of like I said you know 就像我说的
if you go look a little closer 如果你仔细观察
and you saw a huge volume on the down move 你会看到下跌时的巨大成交量
and then maybe light volume 然后可能成交量很小
on the up move 上涨时
you know maybe institution sold the morning 也许机构在早上卖出
and retail you know 散户
came in and bought it back up in the afternoon 下午再买回来
and you know that to me is kind of how it builds 对我来说，这就是它的形成过程
and it's what happens next that matters 重要的是接下来会发生什么
so you know 所以你知道
the thing with the hanging man to me 对我来说
where it where it can start to unwind 它可以开始松动
if you kind of get a little bit of a gap down 如果你有了一点空隙
that next session 下一个环节
and you get like a down 就会出现下跌
downside Wick 下行威克
you know then then it can lead to kind of 那么就会导致
you know selling coming into that stock 卖盘进入该股
so in and of itself it's just an indecision candle 因此，它本身只是一根犹豫不决的蜡烛线
it's you know for all of these 对于所有这些
it's kind of what happens next that matters 重要的是接下来会发生什么
but that's kind of how I think about the Hanging Man 这就是我对 "吊人 "的看法
perfect 完美
and then next is you know the shooting star is 接下来就是流星了
is just you know the market moves up very strongly 就是你知道市场在早上非常强劲地上涨
in the morning and it reverses back down 然后反转下跌
you know often it closes you know 通常收盘时
roughly around where it 开盘价附近
opened but it's just a sign 但这只是一个迹象
that buyers tried to push the market higher 买方试图推高市场
and then by the clothes sellers kind of took control 然后卖家控制了市场
and took that stock back down lower 将股价拉低
so it's potentially assigned a distribution 因此，它有可能被指定为派发
especially if it's on volume 尤其是在有成交量的情况下
this is a type of candle when you get very extended 这种类型的蜡烛线会非常长
maybe it can Mark the reversal on an extension 也许它可以标志着延伸中的反转
but again you want to wait for follow through 但你还是要等待后续走势
and you always want to take it in context 而且你总是要结合实际情况
I think I said earlier that 我想我之前说过
I used to get shaken out of positions 我曾经被震出仓位
where maybe three to four days into a breakout 在突破健全基础后的三四天内
out of a sound base 在一个良好的基础上
they'd have a shooting star 他们会有一颗流星
but it didn't really mean anything 但这并不意味着什么
it was just some short term profit taking 只是短期获利了结
so the key thing is you know time frames right 所以关键是你要知道时间框架的正确性
you know maybe that three to four day 你知道也许三到四天
swing trader this pattern significant at that point 在这一点上，波段交易者的这种形态很重要
but that three to four week or 但三到四周或
three to four months type trader 三到四个月类型的交易者
you know maybe it's just a sign 也许这只是一个信号
hey we may get a couple days of rest 嘿，我们可以休息几天
time frames with anything are always important 任何事情的时间框架都很重要
but that's the Shooting Star 但这是射击之星
and then the Barrish Counter Attack bar 然后是巴里什反击吧
um you know and the outside reversal 还有外部反转
you know the outside reversal is 外部反转
is actually you know 实际上是
a western technical analysis term the oops reversal 是西方技术分析术语 "哎呀反转
but it's it's really just a bearish engulfing bar 但它其实只是一个看跌吞没条形图
but if you go through 但如果你通过
steveness and book you know 史蒂文斯的书
he'll talk about the bearish counter attack 他会讲到看跌反攻
the barrish engulfing bar 看跌吞没柱
the dark cloud cover 乌云密布
the barrish piercing 巴里什刺穿
all of them are the same in some way 所有这些在某种程度上都是一样的
and that you know the stock opens higher 你知道股票高开
maybe be a gap 也许是一个缺口
or maybe it's you know around the same opening price 或者是在相同的开盘价附近
and they either pierce the 它们要么刺穿
previous candle or 前一根蜡烛或
in the case of a bearish engulfing 在看跌吞没的情况下
you know 你知道
they encompass the previous candle which is obviously 它们包围了前一根蜡烛，这显然是
you know more bearish 更看跌
I hate to use that term bearish but 我不喜欢用 "看跌 "这个词，但
sellers are more aggressive than 卖方比
selling the market down 卖出市场下跌
you know these are just potential reversal candles 你知道这些只是潜在的反转烛光
again depending on what happens next 同样取决于接下来会发生什么
but 但
you should take note of them 你应该注意到它们
kind of depending on where we are in the cycle 取决于我们所处的周期
and the overall trend 和整体趋势
because they're just you know signs 因为它们只是
that something could be happening 可能会发生什么
so these are sort of the 所以这些是
you know reversal candles that I use 我使用的反转蜡烛
but again again I want to emphasize 但我想再次强调
you know I'm using these within 我是在
context of the overall price cycle 整体价格周期的背景下使用
and everything else we've talked about 以及我们所谈到的其他一切
they can just sort of provide clues 它们只是提供线索
and I'll go through 我会通过
and I'll show some examples on the price action 我将展示一些价格行为的例子
we'll start hopping into the example section 我们将开始进入示例部分
great 很好
alright so signs of a weakening trend 趋势减弱的迹象
you're not obviously going to see all these things 你显然不会看到所有这些东西
when you 当你
see a weakening trend 趋势减弱的迹象
these are just like little tips and tricks 这些只是一些小提示和小窍门
clues to look out for 需要注意的线索
but the first thing is 但第一件事是
you know when a stock 当一只股票
starts to show 开始出现
relative weakness for multiple days in a row 连续多日相对疲软
you know this can sometimes be a major red flag 你知道这有时是一个重要的信号
and should definitely be respected if it persists 如果持续出现这种情况，一定要引起重视
so giving example from 2013 举个 2013 年的例子
I was pretty loaded in this stock 我在这只股票上投入了大量资金
NQ Mobile you know Chinese telecom stock 中国电信股票网秦移动
it was like the strongest Chinese stock in the market 它是市场上最强大的中国股票
I think it went from like 8 我想它从 8
bucks to like 22 bucks or something like that 涨到了 22 美元左右
and then you know 然后你知道
the market and other stocks were doing fine 市场和其他股票都表现不错
and this thing kind of started to 而这只股票却开始
show weakness 疲软
which was very uncharacteristic of it 这很不正常
based on the previous couple weeks 在前几周的基础上
and then sure enough 然后果然
Muddy Waters came 浑水公司
out with the reports saying they were a fraud 报道说他们是骗子
and the stock bike tanked 然后自行车的股价暴跌
and you know it didn't actually go to zero 你知道它实际上并没有归零
but it might as well have as far as I was concerned 但在我看来，可能已经归零了
but it was all kind of tipped off 但这一切
on the relative weakness that had shown 在此之前的三四天里
for the three to four days prior 在此之前的三四天里
so 所以
when you start to see a change of character in a stock 当你开始看到一只股票的特征发生变化时
and it starts to show weakness 并开始表现出疲软
something might be up 可能有什么东西在上升
and you want to respect that 你要尊重这一点
2 and three 2和3
are just you know when you start to see a stock 就是当你开始看到一只股票
you know lose momentum 失去动力时
relative to a trend line or a moving average 相对于趋势线或移动平均线
that maybe it's respected 也许它受到了尊重
it may not mean anything but it may mean something 这可能并不意味着什么，但也可能意味着什么
you just want to take note of it 你要注意这一点
it's just kind of like a change of character 它就像一种性格的改变
in the stock 在股票中
and that hey we respected the 10 weeks for like 我们尊重了10周，大概6周
6 weeks or sorry the 10 day for like 6 weeks 6周，或者对不起，10天6周
and like now 而现在
like we're not necessarily selling off through it 我们不一定要卖掉它
but we're kind of 但我们有点
trading sideways through it 横盘
in my head I'd be saying okay 在我的脑海里，我会说
like maybe we're just going to consolidate 也许我们只是在盘整
but you know 但你知道
what if we lose the lows of that consolidation 如果我们失去了盘整的低点怎么办？
you know I probably want to 我可能想
to check out 去看看
because this is a change of character in the stock 因为这是股价特征的变化
then next would just be multiple candles which 那么接下来就是多根蜡烛
are negative which 是阴线
that'll make more sense when I start 当我开始
kind of running through some examples 一些例子
but just you know 3 4 or 5 6 kind of 但只要你知道 3 4 或 5 6 种
you know 你知道
different types of candles 不同类型的蜡烛
relative to the previous couple weeks 相对于前几周
you want to just 你要
take that and keep it in the back of your mind 并将其牢记于心
then top tales bar after bar 然后一个接一个的顶部故事
showing that buyers aren't strong into the clothes 表明买方并没有强势买入衣服
or you know the price takes out the previous days high 或者你知道价格连续多日突破前几天的高点
multiple days in a row but is unable to push higher 连续多日，但却无法推高
you know I think one of the concepts I talked about 你知道，我认为我谈到的一个概念是
on the buying side of things 在买入方面
is something that I call 我称之为
you know like no sellers to the downside or 你知道，就像没有卖家下行或
there you know no sellers down low 低位没有卖家
where you're taking out the previous days low and 你把前几天的低点拿出来，然后
they buy it up 他们买进
just kind of 只是一种
showing there's no momentum to the downside 显示没有下行动力
this is the same concept with the opposite way around 这与反向操作的概念相同
and then the stock takes out the previous stays high 然后股价突破前几天的高点
but they can't hold it and it comes back down 但他们无法守住，股价就会回落
now 现在
it's just a sign that buyers aren't stepping up 这只是一个迹象，表明买家没有出手
it doesn't mean there's anything wrong with the stock 这并不意味着股票有什么问题
but it does mean that 但确实意味着
we're potentially losing some momentum 我们可能会失去一些动力
and we need to be aware for the fact that 我们需要注意的是
you know sellers 卖家
eventually may 最终可能
start to take control and push the stock down lower 开始控制局面，将股价推低
so it's just something to be aware of 所以这一点需要注意
and you'll see number 7 你会看到第 7 项
I say the overall rate of change 我说的整体变化率
of the move has begun to slow down 已经开始放缓
a lot of that is created by things like 5 and 6 where 这很大程度上是由第 5 和第 6 项造成的。
the buying pressure just becomes less aggressive 购买压力变得不那么激进了
so you know I say 所以我说
take these signals in context of where we are 所以你知道，我说的是，要根据我们现在的情况来看待这些信号
like always you know 就像往常一样
are these red flags showing up 这些红旗是否出现
as the stock is 随着股价
extended from the 10 week in the 10 day yes 从 10 周延长到 10 天，是的
okay then like that's more relevant 好吧，那就更相关了
but you know are we 但你知道我们
I say this example a lot and 我经常说这个例子
sorry for the spelling area here but 对不起，这里有拼写错误，但是
are we seeing you know a shooting star and Day 4 我们是否看到了流星和第4天
after a strong breakout 强势突破后
again you know 你知道
maybe some short term trader 也许是一些短线交易者
or taking some money off the table 或者从桌子上拿走一些钱
and it's okay 没关系
so context context context with all of these things 所以，所有这些事情的来龙去脉
but those are just kind of some little 但这些只是
things to be aware of as you analyze the price action 在分析价格走势时需要注意的事情
doesn't mean they should be acted on 但这并不意味着要对它们采取行动
but if we see a bunch of these things in a row 但如果我们连续看到这些情况
and our strategy is to sell when we lose the 10 day 我们的策略是在失去 10 日线时卖出。
you know maybe when you start to lose the 10 day 你知道，也许当你开始失去10天的时候
you know you're more quick to hit out 你会更快出手
because the weight of the near term relative evidence 因为近期的相对证据
speaks to you and says 告诉你说
we're really going to blow through that moving average 我们真的要击穿移动平均线了
so kind of the rough overall 所以一种粗略的整体
you know steps if you will of each trade 你知道每笔交易的步骤
you know as we're working through a trade 你知道，当我们进行交易时
you know kind of what's happening 你知道发生了什么
right so one 所以一
you know 你知道
we've got our max pane stop loss below the shelf 我们在架子下面设置了最大止损位
you know helps us to determine our position size 帮助我们确定仓位大小
two as the breakup really starts to work 二，当突破开始起作用时
you know we can adjust our stop to the breakout day low 我们可以将止损调整到突破当日的低点
3 as we get follow through 三、当我们获得跟进时
you know that rough stop area moves to about break even 粗略的止损区域移动到收支平衡的位置
then four 四
I want to ask myself you know 我想问问自己
where are we in the cycle 我们在周期中处于什么位置
you know how do I want to play this 我想怎么做
and really you should kind of be 其实你应该
knowing this before you take the trade 在交易之前就应该知道
but you know is this a quick or swing 但你知道这是快速交易还是波段交易
you know call it like a cash flow trade 现金流交易
or maybe we're buying 或者我们买入
you know a bull flag on like a basin brake when 你知道在像盆地刹车的牛旗上，当
when there's already been like two buyers 已经有两个买家了
or is this like a top dog with a great entry 或者这是在48周的基础上
out of a 48 week base 在48周的基础上
that should help you 这应该有助于你
manage the position correctly 正确管理仓位
okay it's like a swing 好吧，这就像一个摇摆
okay maybe 好吧，也许
we'd want to be that guy selling on day three or 4 我们想在第三天或第四天卖出
into that you know kind of near term extension 进入那种你知道的近期延伸
because of where we bought it 因为我们在哪里买的
you know let's let's book some games 你知道，让我们预订一些游戏
um whereas 而
if we're buying out of that sound basing pattern and 如果我们买的是那种稳健的模式，并且
and it's been longer term 而且是长期的
which is really what we wanna 这才是我们真正想要的
be you know using for the majority of our buyers 你知道我们的大多数买家都是这样做的
you know maybe we wanna be a little more 你知道，也许我们应该更耐心一点
patient with that stock 对这只股票更有耐心
so like what are our objectives for this trick um 那么，我们的目标是什么呢？