Recently re-read the "Turtle Trading Rules" and found this is really a god book, read last year when there are too many places do not understand, feel this is the time to read two words: sobering. Today to talk about the first four rules of turtle trade.
Grasp the advantages of
If you master an advantage in the market, a trader can have positive expectations of the long term is certainly profitable. In the currency circle, this advantage many types, faster transaction speed, more news channels, better risk control and so on. I would say here is unknown, and also to explore myself. I would like to use way of thinking under Charlie Munger: the other way round. Which approach is no advantage? Long-term is certainly a loss.
- No logic, the feel of the transaction;
- According to the analysis the god of dance player deal. Microblogging, I believe there are hundreds of people daily market analysis, if you look at these people analyzes on meal operation, the long term is certainly a loss;
- The multi-hand transaction message. The most typical fire coins and ok, each propagation path of the message is: CEO circle of friends -> internal group -> large customer base -> Other group -> announcement ordinary chives as we know when the price has already been reaction, and then set the probability of buying that is very large.
Risk Management
Without risk management, even grasp the advantages, it also is likely to go bankrupt when no advantage to play a role. Prior wrote an article on how to prevent currency speculation bankruptcy . Currency speculation bankrupt too simple. We also want to turn with the idea of how to go bankrupt.
- Each transaction positions too, whenever they Stud;
- Earned time, exponentially increasing positions in order to earn more;
- Loss of time, increase the position to be doubled;
- Do not leave cash, currency speculation and even borrow money;
- All coins are placed in an exchange.
Unswerving
See this one, I am thinking, "ah, what a pain comprehend." Last year we had ran a policy of continuous loss of more than two months, then we believe that this strategy has a problem, then stopped. If you stop, after less than a month we can go back to this and profitability. Think of it this River of Sorrow.
To do firmly, we must have good risk management, or when the magnitude of retracement to a certain extent, most people can not stand. And most people overestimate their risk tolerance. Yes, it turns out, I like that.
simple and clear
Like in the ecosystem, the most simple biological structure to adapt to the environment is the most, compared to the complexity of life, the simple organisms can survive longer. Similarly, the trading strategy is simple, the longer survival time. I think the reason this is particularly hedge funds have strict confidentiality agreements it.
Today Operation:
coins vote on the MX MARS. As the nature of the welfare activities, I select each item full cast 10,000 votes, waiting for hair like candy.
Today's position:
