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題名 交易實務企劃:法則與心理
作者 Wang,Edmond
貢獻者 周行一
Wang,Edmond
關鍵詞 交易實務企劃
日期 2007
上傳時間 17-九月-2009 18:54:00 (UTC+8)
摘要 交易實務企劃:法則與心理
Abstract

Trading Business Plan : Method and Psychology

By
Edmond Wang

More and more people participate in the ever more volatile financial markets of today with the goal of ensuring a more secure financial future. Sadly most people who participate fail to make money in the markets as the system is set up for the majority of the beginner’s to fail. Most people fail because they either do not have a game plan or they succumb to making emotional, non logical decisions.

To have a fighting chance in trading the financial markets, traders need a business plan which lay out specific rules for entries and exits, the plan will address market situation whether it goes up, down or sideways. Success of the trader depends on how disciplined he can be executing the plan faithfully every time. Failure is usually the result of the trader deviating from his plan.

Deviation from the plan or impulse trading is the result of a trader’s emotionality interfering with calm logical trading decision and system execution. Market volatility is caused by the emotions of traders participating. To win in the markets the trader not only need to understand market psychology, he also need to guard against his natural human instinct to join the crowd mentality. As winning traders are the ones who can control their emotion and ego and practice discipline

It is the goal of this thesis to lay out the general components of a trading business plan which any trader can build upon and construct a trading method which best suits his personality. There will be discussion on market psychology which is what causes markets to move, and finally there will be tips and what to watch out for in the trader psychology section, which will aide the trader achieve the goal of practicing discipline in adhering to his trading methodology.
參考文獻 References
1. Abrams, Colin. 2004. Oil a slick bet. Finance Week, p30-30, 1p;
2. Appel, Gerard. 2003. Become Your Own Technical Analyst: How to Identify Significant Market Turning Points Using the Moving Average Convergence-Divergence Indicator or MACD. Journal of Wealth Management, Vol. 6 Issue 1, p27, 10p;
3. Blume,L., Easley,D. and O’Hara,M. 1994. Market statistics and technical analysis: The role of volume. Journal of Finance, 49, 153-81
4. Brock, Wiliam; Lakonishok, Josef; LeBaron, Blake. Dec. 1992. Simple Technical Trading Rules and the Stochastic Properties of Stock Returns. Journal of Finance, Vol. 47 Issue 5, p1731-1764, 34p;
5. Carter F. John. 2006. Mastering the Trade. Mcgraw-Hill
6. Douglas, Mark. 2000. Trading In the Zone New York Institute of Finance.
7. Edwards, D. Robert, Magee, John. 2001. Technical Analysis of Stock Trends. CRC Press.
8. Elder, Alexander. 1993. Trading for a Living. John Wiley & Sons, Inc.
9. Elder, Alexander. 2002. Come Into My Trading Room John Wiley & Sons, Inc.
10. http://news.bbc.co.uk/2/hi/business/7250554.stm
11. http://www.personalitytype.com.
12. Hudson, Robert; Dempsey, Michael; Keasey, Kevin. July 1996. A note on the weak from efficiency of capital markets: The application of simple technical trading rules to UK stock prices — 1935 to 1994. Journal of Banking & Finance, Jul96, Vol. 20 Issue 6, p1121-1132, 12p;
13. Leung, Joseph Man-Joe; Chong, Terence Tai-Leung. 2003. An empirical comparison of moving average envelopes and Bollinger Bands. Applied Economics Letters, Vol. 10 Issue 6, p339, 3p;
14. Lo, Andrew; MacKinlay, Craig. 1999. A Non-Random Walk Down Wall Street. Princeton University Press.
15. Murphy, John. 1999. Technical Analysis of the Financial Markets. Prentice Hall Press.
16. Salcedo, Yesenia. July 2007. Trade Signals Building Blocks. Futures News, Analysis & Strategies for Futures, Options & Derivatives Traders, Vol. 36 Issue 9, p52-54, 3p;
17. Schwager, D. Jack. 2005. The New Market Wizards First Collins Business.
18. Schwager. 1997. Schwager on Futures: Technical Analysis. John Wiley & Sons, Inc.
19. Tharp, K Van. 2006. Trade Your Way to Financial Freedom McGraw-Hill.
20. Turner, Toni. 2007. A Beginner’s Guide to Day Trading Online. Adams Media.
21. Wyckoff, Jim. March 2005. Tech Talk: MACD makes the difference. Futures: News, Analysis & Strategies for Futures, Options & Derivatives Traders, Vol. 34 Issue 4, p28-29, 2p;
描述 碩士
國立政治大學
國際經營管理碩士班(IMBA)
94933039
96
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0094933039
資料類型 thesis
dc.contributor.advisor 周行一zh_TW
dc.contributor.author (作者) Wang,Edmonden_US
dc.creator (作者) Wang,Edmonden_US
dc.date (日期) 2007en_US
dc.date.accessioned 17-九月-2009 18:54:00 (UTC+8)-
dc.date.available 17-九月-2009 18:54:00 (UTC+8)-
dc.date.issued (上傳時間) 17-九月-2009 18:54:00 (UTC+8)-
dc.identifier (其他 識別碼) G0094933039en_US
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/33952-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 國際經營管理碩士班(IMBA)zh_TW
dc.description (描述) 94933039zh_TW
dc.description (描述) 96zh_TW
dc.description.abstract (摘要) 交易實務企劃:法則與心理zh_TW
dc.description.abstract (摘要) Abstract

Trading Business Plan : Method and Psychology

By
Edmond Wang

More and more people participate in the ever more volatile financial markets of today with the goal of ensuring a more secure financial future. Sadly most people who participate fail to make money in the markets as the system is set up for the majority of the beginner’s to fail. Most people fail because they either do not have a game plan or they succumb to making emotional, non logical decisions.

To have a fighting chance in trading the financial markets, traders need a business plan which lay out specific rules for entries and exits, the plan will address market situation whether it goes up, down or sideways. Success of the trader depends on how disciplined he can be executing the plan faithfully every time. Failure is usually the result of the trader deviating from his plan.

Deviation from the plan or impulse trading is the result of a trader’s emotionality interfering with calm logical trading decision and system execution. Market volatility is caused by the emotions of traders participating. To win in the markets the trader not only need to understand market psychology, he also need to guard against his natural human instinct to join the crowd mentality. As winning traders are the ones who can control their emotion and ego and practice discipline

It is the goal of this thesis to lay out the general components of a trading business plan which any trader can build upon and construct a trading method which best suits his personality. There will be discussion on market psychology which is what causes markets to move, and finally there will be tips and what to watch out for in the trader psychology section, which will aide the trader achieve the goal of practicing discipline in adhering to his trading methodology.		en_US
dc.description.tableofcontents Table of Contents

Chapter 1
Basic primer on the business of trading

Introduction

1.1 Trading as a Business
1.2 Trading VS Investing
1.3 An Unique Challenge in Trading; Psychology
1.4 Contributions of this Paper to participants of the market.
1.5 Contributions of Trading to Society
1.6 Defining Successful Trading Business.
1.7 The Market is a Battlefield
1.8 Trading : Nature or Nurture?
1.9 Trading System at a Glance
1.10 Discretionary Trading Versus Mechanical Trading
1.11 Trading System Suitability
1.12 Recommendations for Different Personality Types
1.13 Trading business plan for the novice trader

Chapter 2
Basic technical analysis and market psychology

2.1 Price, Technical analysis, and market emotion
2.2 Efficient Market Theory
2.3 Market Psychology
2.4 Random Walk Theory
2.5 Classical Chart Analysis
2.6 Psychology of Trend.
2.7 Psychology of Support and Resistance
2.8 False Breakouts
2.9 Tails
2.10 Volume, another perspective.



v
Chapter 3
Trading strategy implementation

3.1 Time Frames
3.2 Introduction to Indicators
3.3 Moving averages
3.4 Channels (Envelopes)
3.5 MACD
3.6 Force Index
3.7 Stochastic
3.8 Putting it all together: Practical Trading System Application.
3.9 Indicators: Trend Following VS Oscillator
3.10 Choose your battle ground: Time frame and Market Selection
3.11 Exiting Trades
3.12 Stop Loss
3.13 Profit Taking
3.14 Money Management

Chapter 4
Trader psychology

4.1 The 3 most common Emotional Obstacles to Trading Success
(Fear, Euphoria, Self Sabotage)
4.2 Biases (Representative-ness bias and Ego Bias)
4.3 The nature of market and a roundup of the Positive Winning Attitude
4.4 Market Neutrality
4.5 Discipline
4.6 Responsibility
4.7 Risk Acceptance
4.8 Five Truths about the Market
4.9 Positive Winning Attitude

Conclusion

References		zh_TW
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dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0094933039en_US
dc.subject (關鍵詞) 交易實務企劃zh_TW
dc.title (題名) 交易實務企劃:法則與心理zh_TW
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) Referenceszh_TW
dc.relation.reference (參考文獻) 1. Abrams, Colin. 2004. Oil a slick bet. Finance Week, p30-30, 1p;zh_TW
dc.relation.reference (參考文獻) 2. Appel, Gerard. 2003. Become Your Own Technical Analyst: How to Identify Significant Market Turning Points Using the Moving Average Convergence-Divergence Indicator or MACD. Journal of Wealth Management, Vol. 6 Issue 1, p27, 10p;zh_TW
dc.relation.reference (參考文獻) 3. Blume,L., Easley,D. and O’Hara,M. 1994. Market statistics and technical analysis: The role of volume. Journal of Finance, 49, 153-81zh_TW
dc.relation.reference (參考文獻) 4. Brock, Wiliam; Lakonishok, Josef; LeBaron, Blake. Dec. 1992. Simple Technical Trading Rules and the Stochastic Properties of Stock Returns. Journal of Finance, Vol. 47 Issue 5, p1731-1764, 34p;zh_TW
dc.relation.reference (參考文獻) 5. Carter F. John. 2006. Mastering the Trade. Mcgraw-Hillzh_TW
dc.relation.reference (參考文獻) 6. Douglas, Mark. 2000. Trading In the Zone New York Institute of Finance.zh_TW
dc.relation.reference (參考文獻) 7. Edwards, D. Robert, Magee, John. 2001. Technical Analysis of Stock Trends. CRC Press.zh_TW
dc.relation.reference (參考文獻) 8. Elder, Alexander. 1993. Trading for a Living. John Wiley & Sons, Inc.zh_TW
dc.relation.reference (參考文獻) 9. Elder, Alexander. 2002. Come Into My Trading Room John Wiley & Sons, Inc.zh_TW
dc.relation.reference (參考文獻) 10. http://news.bbc.co.uk/2/hi/business/7250554.stmzh_TW
dc.relation.reference (參考文獻) 11. http://www.personalitytype.com.zh_TW
dc.relation.reference (參考文獻) 12. Hudson, Robert; Dempsey, Michael; Keasey, Kevin. July 1996. A note on the weak from efficiency of capital markets: The application of simple technical trading rules to UK stock prices — 1935 to 1994. Journal of Banking & Finance, Jul96, Vol. 20 Issue 6, p1121-1132, 12p;zh_TW
dc.relation.reference (參考文獻) 13. Leung, Joseph Man-Joe; Chong, Terence Tai-Leung. 2003. An empirical comparison of moving average envelopes and Bollinger Bands. Applied Economics Letters, Vol. 10 Issue 6, p339, 3p;zh_TW
dc.relation.reference (參考文獻) 14. Lo, Andrew; MacKinlay, Craig. 1999. A Non-Random Walk Down Wall Street. Princeton University Press.zh_TW
dc.relation.reference (參考文獻) 15. Murphy, John. 1999. Technical Analysis of the Financial Markets. Prentice Hall Press.zh_TW
dc.relation.reference (參考文獻) 16. Salcedo, Yesenia. July 2007. Trade Signals Building Blocks. Futures News, Analysis & Strategies for Futures, Options & Derivatives Traders, Vol. 36 Issue 9, p52-54, 3p;zh_TW
dc.relation.reference (參考文獻) 17. Schwager, D. Jack. 2005. The New Market Wizards First Collins Business.zh_TW
dc.relation.reference (參考文獻) 18. Schwager. 1997. Schwager on Futures: Technical Analysis. John Wiley & Sons, Inc.zh_TW
dc.relation.reference (參考文獻) 19. Tharp, K Van. 2006. Trade Your Way to Financial Freedom McGraw-Hill.zh_TW
dc.relation.reference (參考文獻) 20. Turner, Toni. 2007. A Beginner’s Guide to Day Trading Online. Adams Media.zh_TW
dc.relation.reference (參考文獻) 21. Wyckoff, Jim. March 2005. Tech Talk: MACD makes the difference. Futures: News, Analysis & Strategies for Futures, Options & Derivatives Traders, Vol. 34 Issue 4, p28-29, 2p;zh_TW