交易箴言
   It is a safe bet that the money lost by (short term) speculation is small compared with the gigantic sums lost by those who let their investments ride. Long term investors are the biggest gamblers as after they make a trade they often times stay with it and end up losing it all. The intelligent trader will . By acting promptly—hold losses to a minimum.
  可以这么说，比起那些让他们的投资随波逐流的人所损失的巨额款项来，（短线）的投机所损失的还是小数目。长线投资者在进入交易之后，常常待着不走而最终全都输掉。在这种意义上，他们是最大的赌博者。智慧的交易者，通过及时采取行动，把损失限制在最小的范围内。

交易箴言
   The clearest and easiest way to determine a trend is from previous highs and lows. Higher highs and higher lows mark an uptrend, lower highs and lower lows mark a downtrend.
  确定市场动向的最清楚和最容易的方法是根据旧高和旧低。高于旧高和旧低标志着向上的走向，低于旧高和旧低标志着朝下的走向。

交易箴言
   Stops are the key to success for many traders——limit your losses!
  设定止损是很多交易者成功的关键——限制你的亏损！

交易箴言
   Successful traders buy into bad news ＆ sell into good news.
  成功的交易者在坏消息时买，在好消息时卖。

　 交易箴言
   Do not collect the opinions of others before entering trades——facts are priceless——opinions are worthless. In short successful traders isolate themselves from the opinions of others.
&nbs;不要在还没进入交易以前就到处征求意见——事实价值无穷、意见一文不值。简单地说，成功的交易者不为别人的意见所左右。

交易箴言
   Continually strive for patience, perseverance, determination, and rational action.
&nbs;不断地为耐心、毅力、决断和理性的行为作努力。

交易箴言
   Never get out of the market just because you have lost patience or get into the market because you are anxious from waiting.
决不要因为失去耐心而退出市场，也决不要因为迫不及待而进入市场。

交易箴言
   Never change your position in the market without a good reason. When you make a trade, let it be for some good reason or according to a definite plan; then do not get out without a definite indication of a change in trend.
&nbs;
除非有充分的理由，不要改变你在市场里的头寸。每做一手交易时，你都要有可以依据的理由或者明确的计划；此后，除非有明确的趋势改变的迹象，不要退出。

交易箴言
   Losses make the speculator studious——not profits. Take advantage of every loss to improve your knowledge of market action.
&nbs;赔钱不能赢利，但能使投机者细心钻研。抓住每一次赔钱的机会，改进你对市场行为的了解。

　 交易箴言
   The most difficult task in speculation is not prediction but self－control. Successful trading is difficult and frustrating. You are the most important element in the success equation.
&nbs;
      在投机里最难的任务不是预测，而是自我控制。成功的交易是艰难和令人烦恼的交易。在成功的等式里，你是最重要的因素。

交易箴言
   Remember that a bear market will give up in one month what a bull market has taken 3 months to build.
&nbs;记住，一个月的熊市能让你失去在三个月的牛市中所得到的。

交易箴言
   Expand your sources for market info but limit your sources for market opinion.
&nbs;
扩充你的市场信息来源；限制你的市场意见来源。

It is never possible to know everything about anything. A commodity trader is in constant danger.
&nbs;没有人能够做到万事皆知。从事期货交易总要面临危险。

交易箴言
   Split your profits right down the middle and never risk more than 50％ of them again in the market.
&nbs;
把你的盈利一分为二，决不拿其中的百分之五十以上再到市场上去冒险。

交易箴言
  Common trading errors include: A) trading without good reasons. B) trading on hope rather than facts. C) overloading without regard for capital.
&nbs常见的交易错误包括：A、理由不充分的交易；B、基于希望多于事实的交易；C、与资本不相称的超量交易。

交易箴言
   Trade only when you have a good reason on an appraisal of fundamentals and using chart action for confirmation and timing of entry and exit.
&nbs只有当你根据基本面的分析作出估价，运用图表行为加以证实，并策划好入市和出市的时间，只有当这些加在一起为你提供了充足的理由时，再做交易