Rob Booker 2015年11月12日 星期四
外汇市场是一个可怕的对手，其日间交易量可达5万亿美元，这是世界上流动性最大的市场。
资金不足、杠杆过大的交易员试图战胜全球央行、投资银行、对冲基金、做市商及其他交易员就像圣经中的大卫挑战巨人歌利亚，他们的相似之处在于挑战难以战胜的对手。
克敌制胜的几率小之又小，却有许多人前赴后继，试图战胜这头怪兽。大多数交易员都有过这样的经历，不断投入资金将市场推向顶峰，却因为自己的贪婪落得血本无归。市场不断摧残着我们的心灵，并把我们打回原地，这既是感情上、经济上的伤害，也是难得的礼物。有的人就此放弃，有的人屡败屡战。
投资者和交易员们对此是又爱又恨，又不理解。“赶快平仓止损，让收益飞起来”这样的俗语听了不知凡几，也许这是交易界最常听到的话，也许你对这陈词滥调不以为然，却有无数的人经历了无比惨痛的打击之后才能理解这句话的真意。
交易需要极大的毅力和耐心来克服统计学上的逆境和个人财务状况的障碍。也许某个交易产品能让你一夜暴富，但它也会暴露你的策略上的不足和性格上的缺陷。但仍有无数的交易员前赴后继地杀入外汇的战场。所以，在交易中果断的平仓止损和止盈都是容易的事吗？问问那些赚到钱的交易员，他们的答案会让你大吃一惊。
俗语的前一半是正确的——赶快止损。而后半句——让收益飞起来，真是说着容易做起来难，因为这取决于交易员的利润管理能力。在我看来，后半句是极难做出准确决策的。交易界的各种学说争论不休，交易员中有的赚到了钱，有的却血本无归。
能够准确定位的交易员都拥有管理收益的能力，而在大风大浪中浮浮沉沉的交易员，既没赚到大钱，也没收到追加保证金的通知。所以，在交易不顺时，迅速平仓止损绝对是保住小命的法宝。而在收益飞涨时要遵循的标准则因人而异，这需要交易员来判断何时平仓。
外汇市场是一个纯粹的技术市场，世界各地的交易都在不停地进行。市场的结构带来了一个难题，这个难题与支持、阻力、趋势、区间、通道、模型、高位和低位有关，而他们之间都是彼此关联的。
在外汇市场中，如果有人为为什么，那么一定会有一条新闻、一个公告或是一个技术原因，能够解释出价格变动的原因，但这都是马后炮，因为在交易进行中，市场是波动频繁、毫无头绪的。不是说所有的交易员都无法成功，而是告诉大家，风险管理和交易规模的重要性，它们可以降低外界的干扰，从而利用未来的走势。
The Key to Trading Success: Limiting the Downside
Robbooker.co
The forex market can be a formidable opponent. Daily transactions churn out approximately $5 trillion and the forex market is regarded as the most liquid market in the world.
It appears to be a David vs. Goliath scene with under-capitalized and over-leveraged retail traders attempting to compete with the likes of global central banks, investment banks, hedge funds, market makers, and everyone in between, all of which seem to have a sizable competitive advantage.
The statistics and odds to overcome losses and become a profitable trader are remarkably slim yet so many strive for the ability to tame this beast. Most traders experience Sisyphean-like activity where we endlessly push our equity boulder up the market summit armed with bouts of absolute determination only to watch our mental mistakes, greed, and market conditional outliers sabotage our psyche and send us back to square one with emotional and financial scars as a parting gift. Some give up, some live to fight another day.
Investors and traders love it, hate it, don’t understand it, or fall somewhere in between. How many times have we heard the saying cut your losses quickly and let your profits run? In fact, this may be the most widely used and abused cliche in the trading world, yet it rings true for so many painful experiences in this kill or be killed financial market.
Trading requires a considerable amount of perseverance and grit to overcome the statistical adversity and the obstacles to improve one’s life and financial well-being. This, of course, with a financial instrument that handsomely rewards winners yet ruthlessly exposes strategy and psychological flaws and weaknesses. However, somehow, traders keep coming in and trying their hand in the forex battleground. So is trading really as easy as cut your losses off quickly and let your profits run? Ask any profitable trader and the answer may surprise you.
A portion of the proverb may hold true – cut your losses off quickly. The other half, let your profits run may be easier said than done as it is dependent on the trader’s ability to manage profitable moves. In my opinion, the right side of the chart may be the hardest section to predict with absolute precision. The fundamental and technical pundits battle for supremacy on what school of thought will win the trade as actual traders are in the trenches grasping at profits or getting slaughtered as the next wave unfolds – the market doesn’t care.
Traders who are positioned accordingly have the ability to manage profits, while traders who are fighting the flow are either pressing their eject buttons or experiencing margin calls. So yes, cutting your losses quickly is undoubtedly a way to survive when trades go wrong. However, letting your profits run requires a disciplined and somewhat indifference to P/L fluctuation and that is certainly an adjustment for the traders who are identifying opportunities to manage winning trades.
The forex market is a rather technically pure market with global transactions occurring around the clock. The market’s structure generates an intricate puzzle of support, resistance, trends, ranges, channels, patterns, highs and lows, and they are all interconnected and explanatory in real-time and certainly in hindsight.
If a trader ever asks WHY in the forex market, there is most likely a headline, news announcement, or technical reason for the movement – making it great for after the fact explanations, but sometimes live trading perplexes and fakes out traders with wicks and nasty unanticipated volatility. This does not mean it is unfair or impossible to the trader, it simply means managing risk and trade size is incredibly important to reduce the noise and capitalize on the actual movement or direction the market is after.
本文翻译由兄弟财经提供
文章来源：http://www.financemagnates.com/executives/insights/the-key-to-trading-success-limiting-the-downside/