走进我的交易室 中英对照版-第16章
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It is easy to feel cool； calm； and collected reading a book or looking at your charts on a weekend。 It’s easy to be rational when the markets are closed … but what happens after 30 minutes in front of a live screen？ Does your pulse begin to race？ Do upticks and downticks hypnotize you？ Traders get an adrenaline rush from the market； and the excitement clouds their judgment。 Calm resolutions made on a weekend fly out the window during rallies or declines。 “This time is different 。 。 。 It’s an exception 。 。 。 I won’t put in a stop now； the market is too volatile” are the giveaway phrases of emotional traders。
在周末，轻松下来，酷一下，看看书，看看波动，都是很容易做到的。收盘的时候是很容易做到理性——但是如果盯着即时波动30分钟以后会如何？你的脉搏会不会加快？上涨和下跌会不会让你着迷？市场让交易者疯狂，但是这种激动影响判断力。在周末做的冷静决定，遇到市场反弹和下跌时还是前功尽弃。“这次不同……这是特殊情况……这次我不设止损，市场波动太大了”这些都是情绪交易者的想法。
Many intelligent people sleepwalk through the markets。 Their eyes are open； but their minds are shut。 They are driven by emotions and keep repeating their mistakes。 It is OK to make mistakes but not OK to repeat them。 When you make a mistake for the first time； it shows that you are alive； searching； experimenting。 Repeating a mistake is a neurotic symptom。
很多聪明人在市场做梦。他们的眼睛是睁开的，但是他们的思想却关闭了。他们被情绪控制，还重复犯错。犯错可以，但不可以重复犯错。当你第一次犯错时，这说明你还活着，你还在研究，做测试。重复犯同样的错就是神经质。
Losers e in all genders； ages； and colors； but several stock phrases give them away。 Let us review some of the mon excuses。 If you recognize yourself； use that as a sign to start learning a new approach to the markets。
输家不同性别，年龄，肤色的都有，几次波动还不能赶走他们。让我们复习一下常见的借口。如果你发现了你自己也用类似的借口开始学习市场的话，请小心。
Blame the Broker
责怪经纪人
A trader hears his broker’s voice at the most important and tense moments … when placing buy or sell orders or requesting information that may lead to an order。 The broker is close to the market； and many of us assume that he knows more than we do。 We try to read our broker’s voice and figure out whether he approves or disapproves of our actions。
交易者在下单的时候，或者是下单前询问信息时，在这些关键的时候都会听到经纪人的观点。经纪人和市场很近，我们中间的很多人就以为他比我们懂的多。我们尽力听经纪人的话中之话，想搞清楚他是不是支持我们的操盘行动。
Is listening to your broker’s voice a part of your trading system？ Does it say to buy when the weekly moving average is up； daily Force Index is down； and the broker sounds enthused？ Or does it simply say to buy when such and such indicators reach such and such parameters？
是不是听经纪人的话算你交易系统的一部分？是不是他说买，均线就上很脏，力量指数就下跌，经纪人也很激动？又或者是他说因为某某指标达到了某某参数，所以要买？
Trying to read your broker’s voice is a sign of insecurity； a mon state for beginners。 Markets are huge and volatile； and their rallies and declines can feel overpowering。 Frightened people look for someone strong and wise to lead them out of the wilderness。 Can your broker lead you？ Probably not； but if you lose money； you’ll have a great excuse … it was your broker who put you into that stupid trade。
听经纪人的话说明你感觉不安全，这是新手的普遍特征。市场很大，市场在波动，他们的上涨和下跌确实让人觉的它的强大。担惊受怕的人需要一个强大和聪明的人带他走出迷茫。你的经纪人会带你吗？也许不会，但是如果你亏钱了，能找到好借口——就是你的经纪人让你进行那个糟糕的交易的。
A lawyer who was shopping for an expert witness recently called me。 His client； a university professor； had shorted Dell at 20 several years ago； before the splits； after his broker told him it “could not go any higher。” That stock became the darling of the bull market； went through the roof； and a year later the professor covered at 80； wiping out his million…dollar account； which represented his life savings。 That man was smart enough to earn a Ph。D。 and save a million dollars but emotional enough to follow his broker while his life savings were doing a slow burn。 Few people sue their brokers； but almost all beginners blame them。
最近有个律师，他要找鉴定证人，他给我打了电话。他的客户是一个大学教授，教授几年前在20元做空戴尔电脑股票，后来戴尔电脑股票除权了，做空的原因是他的经纪人告诉他“戴尔再也不会涨了。”后来，这只股票成为牛市的明星股，冲破了天花板，1年后，教授只好在80元回补平仓，账户的100万亏光了，这100万是他一辈子的储蓄。这个教授很聪明，有博士学历，存了100万，但是却情绪化地听取经纪人的意见而毁了100万。很少有人控告经纪人，但大部分新手都喜欢骂经纪人。
Traders’ feelings towards brokers are similar to patients’ feelings towards psychoanalysts。 A patient lies on the couch； and the analyst’s voice； emerging at important moments； seems to carry deeper psychological truths than the patient could have possibly discovered himself。 In reality； a good broker is a craftsman who can sometimes help you get better fills and dig up information you requested。 He is your helper … not your advisor。 Looking to a broker for guidance is a sign of insecurity； which is not conducive to trading success。
交易者对经纪人的感觉和病人对心理医生的感觉类似。病人躺在沙发上，医生的话，在关键时刻会出现，似乎可以比病人更能挖掘病人的内心深处。事实上，好的经纪人是一个艺术师，他帮你过滤信息，挖掘信息。他会帮助你——但不是你的顾问。找经纪人是因为自己觉的不放心，这种心态无助于成功的交易。
Most people start trading more actively after switching to electronic brokers。 Low missions are a factor； but the psychological change is more important。 People are less self…conscious when they don’t have to deal with a live person。 All of us occasionally make stupid trades； and electronic brokers allow us to make them in private。 We are less ashamed hitting a key than calling a broker。
大部分人开始交易时很活跃，然后转向电子经纪人。佣金低是主要的原因，但是心理的变化更重要。如果不和真人打交道，人们就会变的没有自知。我们偶尔都会进行愚蠢的交易，电子经纪人让我们可以私下犯错。敲键盘肯定比打电话给经纪人要不怕丑。
Some traders manage to transfer their anxieties and fears onto electronic brokers。 They plain that electronic brokers do not do what they want； such as accept certain types of orders。 Why don’t you transfer your account； I ask … and see fear in their faces。 It is the fear of change； of upsetting the cart。
一些交易者喜欢把焦急和恐惧转给电子经纪人。他们抱怨说电子经纪人不会按他们的意思做，比如不接受某些类型的订单。为什么你不转户，我问他们——我看见他们满脸恐惧。他们害怕变化，害怕计划被扰乱。
To be a successful trader； you must accept total responsibility for your decisions and actions。
要想成为成功的交易者，你必须为自己的决定和行为全部负责。
Blame the Guru
谴责老师
A beginner entering the markets soon finds himself surrounded by a colorful crowd of gurus … experts who sell trading advice。 Most charge fees； but some give advice for free to drum up business for their brokerage firms。 Gurus publish newsletters； are quoted in the media； and many would kill to get on TV。 Masses are hungry for clarity； and gurus are there to feed that hunger。 Most are failed traders； but being a guru is not that easy。 Their mortality rate is high； and few stay around for more than two years。 The novelty wears off； customers do not renew subscriptions； and a guru finds it easier to earn a living selling aluminum siding than drawing trendlines。 My chapter on the guru business in Trading for a Living drew more howls and threats than any other in that book。
刚进入市场的新手会发现自己被各种各样的老师包围了——他们是销售投资建议的专业人士。大部分人都收费，但是一些人不收费，因为要为他的经纪公司做宣传。老师们会发行投资报告，媒体也会引用，很多老师想尽一且办法上电视。大众渴望真知，而老师们正好是来满足这些渴望的。老师的死亡率很高的，很少人能熬过2年。当事物失去了新鲜劲之后，客户就不会再看投资报告了，此时老师会发现卖铝线都比画趋势线要容易谋生。我在《以交易为生》里面有一章说了老师是如何做生意的，引起了很多人的怒火和威胁，他们对这一部分的火气是最大的。
Traders go through three stages in their attitudes towards gurus。 In the beginning； they drink in their advice； expecting to make money from it。 At the second stage； traders start avoiding gurus like the plague； viewing them as distractions from their own decision…making process。 Finally； some successful traders start paying attention to a few gurus who alert them to new opportunities。
交易者对老师的态度会经历3个阶段。一开始，他们信老师的建议，期待建议能赚钱。第2阶段，交易者觉的老师像瘟疫，避免见到老师，觉的见到老师就会影响自己的决策过程。最后，一些成功的交易者开始关注少数老师，这些老师会提示新的机会。
Some losing traders go looking for a trainer； a teacher； or a therapist。 Very few people are experts in both psychology and trading。 I’ve met several gurus who couldn’t trade their way out of a paper bag but claimed that their alleged expertise in psychology qualified them to train traders。 Stop for a moment and pare this to sex therapy。 If I had a sexual problem； I might see a psychiatrist； a psychologist； a sex therapist； or even a pastoral counselor； but I would never go to a Catholic priest； even if I were Catholic。 That priest has no practical knowledge of the problem … and if he does； you want to run； not walk away。 A teacher who does not trade is highly suspect。
一些失败的交易者会去找训练师，教师或医生。很少的人既懂心理学，又懂交易。我遇到了一些老师，他们自己不会赚钱，却说他们的心理学经验适合培训交易者。先停下来谈谈性方面的治疗吧。如果我在性方面有问题，我应该去看心理医生，精神病专家，性学医生，或者是牧师，但是，即使我是天主教徒，也不能去找天主教的牧师。天主教的牧师没有这方面的知识——如果他有，你要赶快跑开。一个没有交易经验的老师很值得怀疑。
Traders go through several stages in their attitudes towards tips。 Beginners love them； those who are more serious insist on doing their own homework； while advanced traders may listen to tips but always drop them into their own trading systems to see whether that advice will hold up。 Whenever I hear a trading tip； I run it through my own puterized screens。 The decision to buy； go short； or stand aside is mine alone； with an average yield of one tip accepted out of every 20 heard。 Tips draw my attention to opportunities I might have overlooked； but there are no shortcuts to sweating your own trades。
交易者对待消息的态度要经历3个阶段。新手爱消息，那些喜欢自己做功课的人，是比较优秀的交易者，他们也许会听消息，但总会把消息放进他们自己的交易系统验证消息是否有用。不管什么时候，只要听到消息，我会用电脑去验证。是买，是做空，或者是观望，这些决定我来做。平均来说，20个消息里面有1个是有用的。消息会引起我关注过去忽略的东西，但是你自己的交易并没有捷径可走。
A greenhorn who has gotten burned may ask for a guru’s track record。 Years ago I used to publish a newsletter and noticed how frighteningly easy it was for gurus to massage and slant their records； even if they were tracked by independent rating services。
一个新手，如果受了伤害，他会找老师要交易记录。几年前，我也发行投资报告，我发现对于老师来说，即使有评级机构的监管，他们还是能令人吃惊地轻松修改他们记录。
I’ve never met a trader who took all the remendations of his guru； even if he paid him a lot of money。 If a guru has 200 subscribers； they’ll choose different remendations； trade them differently； and most w
