100% chance you fail if you are trading with scared money. If you are attempting to trade full time without other streams of income then you should have at least one year of living expenses in a separate account that is just for your monthly nut and not touchable for trading.
Scared money is dead money
I know it sounds simplistic but it is the honest truth.
是流傳於華爾街趨勢投資者中的一句名言,據說被傳奇投資人Paul Tudor Jones(保羅.都鐸.瓊斯,見配圖)奉為信條。網上曾流傳一張Jones的辦公室照片(請見附圖),在其座位的上方,就張貼著這句話“Losers average losers”,用來警示自己。那麼Losers average losers,到底是什麼意思呢?它表示:輸家才向下攤平。這句話裡的第一個losers,指的是失敗的(投機)交易者;average,是動詞,表示“攤平、平均化”;最後一個losers,則表示“表現不佳的投資品種”。也就是說,當一隻股票(或其他投資品種)的價格掉頭向下時,不要在下跌期間加碼,試圖攤平買入成本。因為價格有可能一去不回。對於使用槓桿的趨勢投機者而言,這種向下加碼攤平的策略尤其危險,可能會導致徹底爆倉,血本無歸。當然,Will也看到有截然不同的觀點認為:Winners average losers,會向下攤平的才是贏家。其實Will覺得這兩種觀點都有道理,不可機械理解,具體還是取決於你的投資風格,以及投資品種本身的質地。
“The financial markets generally are unpredictable. So that one has to have different scenarios… The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.”