按键盘上方向键 ← 或 → 可快速上下翻页，按键盘上的 Enter 键可回到本书目录页，按键盘上方向键 ↑ 可回到本页顶部！
————未阅读完？加入书签已便下次继续阅读！
The Impulse System encourages you to enter cautiously but exit fast。 This is the professional approach to trading； the total opposite of the amateurs’ style。 Beginners jump into trades without thinking too much and take forever to get out； hoping and waiting for the market to turn their way。 The Impulse System； like Triple Screen； is a method of trading rather than a mechanical system。 It identifies islands of order in the ocean of market chaos by showing when the crowd； usually so aimless and disorganized； bees emotional and starts to run。 You get in when its pattern emerges and hop off when it starts to sink back into chaos。
动力系统叫你进场时要谨慎，出场时要快。这是专业的交易方法，和业余选手的风格相反。新手想都不想就跳进交易，长期等待，期望市场能朝有利他的方向走。动力系统像三重滤网，是交易方法，不是机械系统。当市场混乱时，通常没有目标，没有组织，当市场开始形成情绪，要动作时，动力系统就发现了市场的顺序。当模式形成时，你去交易；当市场回到混乱时，你出场。
Test the Impulse System on your own market data to answer several important questions。 Should you enter and exit at the open； after seeing the signal in the evening； or should you try to anticipate those signals？ What if you do your homework 15 minutes before the close and buy or sell without waiting for tomorrow？ Experiment with several different parameters of the EMA and MACD…Histogram。
用你的市场数据来测试动力系统，以回答几个重要问题。如果晚上看见了信号，开盘时要进出场吗，或者是等待信号？如果你在收盘前15分钟做功课，不等明天就买卖了，会如何？用不同的参数测试均线和MACD柱。
You must be very disciplined to trade this system because it is hard to place an order when the market is already flying； but even harder to quit while you’re ahead without waiting for a reversal。 You are not allowed to kick yourself if the trend continues after you get out。 Do not touch this system if you have the slightest problem with discipline。
你必须非常有纪律地交易这个系统，因为在市场狂飙的时候很难下单，市场还没反转就出场，这也是很难的。如果你出场后，市场还在继续，你不要踢自己。只要纪律方面有一点点问题，就不要碰这个系统。
The Impulse System can help you trade other systems。 Check its message when Triple Screen gives you a signal to buy。 If the Impulse System flashes a sell signal； hold off buying； do not trade against it。 You want to buy a dip； not a waterfall decline。 Reverse the procedure in downtrends。 Hold off shorting if the Impulse System flashes a buy signal。 Such “negative rules；” designed to keep you out of trouble； are among the most useful for serious traders。
动力系统能帮助你交易其它系统。当三重滤网给你买入信号时，检查它的信号。如果动力系统给出卖出信号，不要买入，不要反向交易。你要买的是低处，不是瀑布式的下跌。下跌时则反之。如果动力系统给出买入信号，就不要做空。这些“不要的原则”，是为了防止你出问题，也是认真交易者最有用的原则。
MARKET THERMOMETER
市场温度
A beginner needs to learn a battery of standard technical indicators and start tweaking their parameters。 Some traders create their own indicators to gauge different aspects of crowd behavior and identify market moves。 Let us walk through the process of creating a new technical indicator and see how to go about building your own private indicators。
新手在开始调参数前最好先学习一些标准的技术指标。一些交易者自己发明了指标，可以分析大众行为，确认市场波动。让我们来看看是如何自己发明指标，以及如何发明自己的指标。
All good indicators reflect some aspect of market reality。 Market Thermometer helps differentiate between sleepy； quiet periods and hot episodes when market crowds bee excited。 It can help you adapt your trading to the current environment。
优秀的指标反映了市场的真实面。市场温度可以帮助区分沉静的和激烈的市场波动。它能帮助你根据市场环境变化改变交易。
Quiet markets typically have narrow bars that tend to overlap one another。 Hot； boiling markets tend to have wide bars whose highs and lows extend far outside the previous day’s range。 Beginners jump into trades during those wide bars； afraid to miss a runaway move。 If you enter when the markets are quiet； your slippage is likely to be lower。 Hot markets are good for taking profits because then slippage may work in your favor。
平静的市场一般竹线比较短，互相重叠在一起。火爆的，激烈的市场，竹线比较长，最高点和最低点也比之前的日内波动要大。新手跳进这样的交易，害怕自己错过了波动。如果你在市场平静时进场，你的滑点亏损很低。
When gold recently ran up 40 in one week； a journalist asked a famous investor whether it was a good buy。 Gold was good； he said； but the time to get on this bus was when it stood in front of the station； and not rolling down the highway at 40 miles an hour。 Market Thermometer helps you recognize when the bus slows down in front of the station； picks up speed； or roars down the highway。
黄金最近一周涨了40元，一个记者问一个著名的投资者是否是好的买入机会。黄金不错，他说，但是最好的上车地点是车站，而不是在以40里/小时下高速公路的地方。市场温度会帮你认识公交车何时在车站减速，何时加速，或何时飙下高速公路。
Market Thermometer measures how far the most extreme point of today； either high or low； protrudes outside of yesterday’s range。 The greater the extension of today’s bar outside of yesterday’s； the higher the market temperature。 Here’s the formula of Market Thermometer：
市场温度计算今天的极限位置在哪里，最高点或最低点，是否会突破前一天的范围。今天的竹线比昨天的越长，市场温度越高。下面是市场温度的公式：
Temperature = the greater of either （Hightoday … Highyesterday） or （Lowyesterday … Lowtoday）
温度=2者取1（今天的最高价…昨天的最高价）或者（昨天的最低点…今天的最低点）
To program Market Thermometer into Windows on WallStreet software； use the following formula：
如果要把市场温度编入“华尔街”软件的窗口，用下面的公式：
if （hiref（lo；…1）； 0； if （（hi … ref（hi；…1）） 》 （ref（lo；…1） … lo）； hi … ref（hi；…1）； ref（lo；…1） … lo））。
It is easy to adapt this formula to other software packages。
把这个公式套入其它软件是很容易的。
Market temperature is always a positive number； reflecting the absolute value of either the upward or the downward extension of yesterday’s range； whichever is greater。 Plot temperature as a histogram above zero。 Calculate a moving average of market temperature； and plot it as a line on the same chart。 I use a 22…day EMA because there are 22 trading days in a month； but feel free to experiment with shorter EMA values if you want to make this indicator more sensitive to short…term swings。
市场温度永远是正数，反映了上涨或下跌幅度跟前一天相比的绝对值，看看哪个大。可以把温度画成0轴上的柱状图。计算市场温度的平均值，然后用同样的图画成线。我用22日均线，因为一个月有22个交易日。如果你想做短线，你也可以自己测试数据，用更小的参数。
When markets are quiet； the adjacent bars tend to overlap。 The consensus of value is well established； and the crowd does little buying or selling outside of yesterday’s range。 When highs and lows exceed their previous day’s values； they do so only by small margins。 Market Thermometer falls and its EMA slants down； indicating a sleepy market。
当市场平静时，相邻的竹线都重叠了。对价值的一致认同被确定了，市场的买卖很少，没有超过昨天的波动范围。当最高点和最低点超过了前一天的数值，他们只是轻仓交易。市场温度下跌，均线下跌，表明市场平静。
When a market begins to run； either up or down； its daily bars start pushing outside of the previous ranges。 The histogram of Market Thermometer grows taller and crosses above its EMA； which soon turns up； confirming the new trend。
当市场开始波动，上涨或下跌，日线图竹线开始突破前一天的范围。市场温度涨的比均线高，很快上涨，确认了新趋势。
Market Thermometer gives four trading signals； based on the relationship between its histogram and its moving average：
市场温度根据柱状图和均线的关系给出4个交易信号：
The best time to enter new positions is when Market Thermometer falls below its moving average。 When Market Thermometer falls below its EMA； it indicates that the market is quiet。 If your system flashes an entry signal； try to enter when the market is cooler than usual。 When Market Thermometer rises above its moving average； it warns that the market is hot and slippage more likely。
当市场温度下跌到均线以下时是最好的建仓点。当市场温度跌到均线以下，它表明市场很平静。如果你的系统发出进场信号，可以在市场比平时还平静的时候进场。当市场温度涨的比均线高，它警告说市场很火了，容易导致滑点亏损。
Exit positions when Market Thermometer rises to triple the height of its moving average。 A spike of Market Thermometer indicates a runaway move。 When the crowd feels jarred by a sudden piece of news and surges； it is a good time to take profits。 Panics tend to be short…lived； offering a brief opportunity to cash in。 If the EMA of Market Thermometer stands at 5 cents； but the Thermometer itself shoots up to 15 cents； take profits。 Test these values for the market you are trading。
当市场温度涨到均线的3倍时，平仓。市场温度指针表明要逃跑了。当市场突然受到新闻和波动的冲击，此时最好兑现利润。恐慌一般是短期的，提供了兑现利润的机会。如果市场温度的均线站在5分，但市场温度涨到了15分，兑现利润。你要在你的市场测试数值。
Figure 6。7 Market Thermometer
图6。7 市场温度
Nvidia Corp （NVDA） is one of the current favorites among active traders。 Just look at its many tradable features … a powerful rally to 100； its triple top； a MACD bearish divergence； and a subsequent downtrend。 Markets oscillate between qui