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他们很容易成为卖交易软件老师的猎物。
Survivors realize that psychological factors； such as optimism or doubt； greed or the fear of pulling the trigger are much more important than any technical indicator。 They start developing a feel for the importance of risk control。 I keep running into folks at conferences who have a good grip on technical analysis and some understanding of psychology； but who know that something is missing because they cannot win consistently and must keep their day jobs。 What should they do next？
幸存者心里明白，心理因素，包括乐观和怀疑的较量，贪婪和恐惧的较量，都比技术指标要重要。他们开始研究控制风险。我在一次会议上遇到几个人，他们的技术分析不错，也懂心理学，但是他们觉得因为白天要上班，无法做到持续赢利，好像缺了什么似的。他们该怎么办？
Once you have a decent understanding of technical analysis； follow money management rules； and know the value of trading psychology； you need to develop new organizational skills。 You already possess the building blocks of success … now is the time to erect the structure of successful trading。
一旦你对技术分析有了深入了解，遵守资金管理的原则，并知道交易心理学，你还要发展新的组织技巧。成功的砖块你已经准备好了——现在要建立成功的交易。
There is no magic trick for converting a serious amateur into a professional trader。 What I offer you here is a recipe for intense and focused work which will enable you to move up to the ultimate stage of professional trading。
没有任何魔术可以把业余选手变成专业交易者。现在我提供的是让你成为专业交易者的工作方法。
CHAPTER EIGHT THE ORGANIZED TRADER
第8章 有条理的交易者
What is the single most important trait of a successful trader？ High intelligence？ Not really； even though some basic level of performance is required。 Good education？ Not quite； since many of the best traders haven’t gone past high school。 The trait that all winners have in mon is a very high level of discipline。 How can you measure your level and then increase it？ You do it by maintaining and learning from several sets of trading records。
成功交易者最重要的特点是什么？高智商？不是，虽然确实需要高水准的表现。良好的教育？也不是，很多优秀的交易者中学都没毕业。所有赢家的共同特点是高水准的纪律。你如何能计算你的水平并提高它呢？你可以从交易记录的几个方面来维持并从中学习。
Keeping good records is the single most important contribution to your success。 If you maintain scrupulous records； review them； and learn from them； your performance will improve。 If your money management is in place to ensure survival during the learning process； you’re sure to bee a success。
优秀的交易记录是成功的重要方面。如果你能认真做记录，认真复习并从中学习，你的成绩会提高。如果随后你的资金管理也没问题，你肯定会成功。
These are strong words； but my experience confirms them。 In the years of teaching Traders’ Camps； whenever I saw a person with good records； he was either a successful trader or soon became one。 I have found that women tend to keep better records than men； which is one of the reasons the percentage of winners among them is higher。 Records are more important to your success than any indicator； system； or technical tool。 Even the best system is bound to have some holes； but good records will allow you to find them and plug them up。
我的语气很肯定，我的经验也可以证明我的观点。我在交易者训练营讲课时发现，凡是认真做交易记录的都是成功的交易者，或者是将成为成功的交易者。我发现女生比男生要做的好，所以女赢家的比率比男生高。对你的成功来说，交易记录比任何指标，系统或技术工具都重要。再好的交易系统都有漏洞，但是好的交易记录能让你找到它们并修补漏洞。
A person who keeps detailed records makes a huge leap in his development as a trader。 Show me a trader with good records； and I’ll show you a good trader。 Bad traders keep bad records。 People who do not learn from the past are doomed to repeat it。 “I’ve been hit； insulted； spat upon； and abused … the only reason I stick around is to see what happens next。”
能详细做交易记录的人在交易中会有巨大进步。认真做交易记录的交易者就是优秀的交易者。表现不佳的交易者，他的交易记录也差。不从过去学习就意味着要重复错误。“我曾经被打倒过，被侮辱过，被吐过口水，被虐待过——我还不走的原因就是我想知道下一步如何。”
Good records let you learn from the past instead of struggling from day to day。 When the market hits you； good records show from where that blow came。 The next time； you’ll take a different path and avoid trouble。 You may run into a different sort of trouble the next time around； but keep at it long enough and you’ll run out of mistakes。 Just be sure your money management is in place； so that your money doesn’t run out while you are learning。 When you start making profits； your records will show how they came about； helping you repeat that experience。 Good records reduce guesswork and make trading a much more professional exercise。
好的交易记录能让你从过去学习，而不是日复一日地挣扎。当市场打击你的时候，交易记录会告诉你市场是如何打击你的。下次，你就会走不同的路并避免麻烦。也许你会遇到其它麻烦，但只要你坚持下去，你就不会再犯错。要确保你的资金管理没问题，这样你就不会在市场中学习的时候把钱亏光了。当你开始赢利的时候，你的交易记录会告诉你是如何赢利的，并指导你重复这个经验。好的交易记录会减少猜测并使交易更专业。
Remember the extensive notes you kept in college？ Educators agree that keeping notes is an essential part of the learning process。 If you are struggling； you must start keeping notes。 Once you bee a winner； you’ll continue to keep them； because they will have bee a key part of your trading process。 Keeping records is time…consuming。
还记得你大学做的笔记吗？教育者认为做笔记是学习的关键过程。如果你在挣扎中，你必须做笔记。以后你成为赢家了，你也要坚持下去。因为这会是你交易成功的关键因素。做交易记录是很花时间的。
If you get tired or bored and give them up； take that as a sure sign that you are gambling rather than trading。 Your records are a litmus test of your seriousness as a trader。
如果你累了，厌倦了，想放弃，你就想你是在赌博，不是在交易。交易记录是你严肃交易生涯的测试。
A trader needs four types of records。 Three of them look back； and one forward。 The trader’s spreadsheet； his equity curve； and his trading diary help review past performance。 The spreadsheet rates each individual trade； the equity curve tracks your account as a whole； and the diary reflects your decision…making process。 The fourth record is a trading plan for the day ahead。 Maintaining these four records puts you on the road toward responsible； professional； successful trading。
交易者需要4个交易记录。3个回顾过去，1个展望未来。前3个分别是交易者的电子表格，资金曲线，交易日记。电子表格记录每笔交易，资金曲线记录整体表现，日记记录你的决策过程。第4个记录是头一天做的交易计划。保持这4个交易记录能让你走向负责任，专业，成功的交易生涯。
TRADER’S SPREADSHEET
交易者的电子表格
The first step of proper record keeping is setting up a spreadsheet that lists all your trades。 Each horizontal line describes a new trade。 Each vertical column contains a certain detail of each trade or rates an aspect of your performance。 These columns belong in any workable trader’s spreadsheet：
交易记录的第1步是建立一个电子表格记录你的所有交易。每一行记录一个新的交易。每一列记录交易的详细情况，或者是成绩。
Trade number （list all trades in the order of entry）
交易次数（按照进场顺序写）
Entry date
进场日期
Long or short
做多还是做空
Ticker （stock symbol）
市场（股票代码）
Size （how many shares）
仓位（多少股）
Entry price
进场价
mission
佣金
Fee
费用
Total （Entry price×size＋mission＋fee）
合计（进场价×仓位＋佣金＋费用）
Channel （record the height of the channel on the daily chart or whatever chart you use for your intermediate timeframe； you’ll use it to rate your trade after exiting）
通道高度（每天记录通道的高度，当你出场以后用它来计算你的交易）
Exit date
出场日期
Exit price
出场价格
mission
佣金
Fee
费用
Total （Exit price×size＋mission＋fee）
合计（出场价×仓位＋佣金＋费用）
P/L （profit or loss—column 15 minus column 9 for longs or the opposite for shorts）
利润或亏损（做多时用第15列减去第9列，做空时相反）
Entry grade （see below）
进场分数（见下面）
Exit grade （see below）
出场分数（见下面）
Trade grade （see below）
交易总分（见下面）
You may include several additional columns。 For example； you may want to record the name of the system that prompted that trade； the initial stop； and slippage； if any。 You can make your spreadsheet reflect multiple exits as well as record the reasons for exits； such as hitting price targets or stops； or impatience。 You can make your spreadsheet give you quick summaries of profit and loss or the number of winning and losing trades per market and per system。 You can make it show the average； the smallest； and the greatest profit or loss per trade in each market and each system。
你可能要多加几列。比如说，也许你要记下交易系统的名字，最初的止损点和滑点。如果可能，你还可以显示更多的出场点和出场原因，比如到达利润目标，止损，没有耐心。你也可以利用电子表格自动计算每笔或者每个交易系统的利润或亏损综合，也可以显示平均的，最小的和最大的利润。
The entry grade （17） rates the quality of your entry by expressing it as a percentage of that day’s range。 For example； if the high of the day was 80； the low 76； and you bought at 77； then your entry grade is 25； meaning you bought within the lower 25％ of the day’s range。 Had you bought at 78； your grade would ha