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Visualization of fund management

Author: Huang Su circle of private equity funds

Fund management test is patience

Futures traders have a large group of characteristics: lack of patience. Some traders and I said that we want to make futures, we hope to be small, why choose to be small to make money quickly. I told him that you really can choose a foreign exchange platform with a leverage of 2,000. You can also choose to add a ten-fold futures fund-raising; you can even choose tens of thousands of leveraged index futures. We come to the market to make trades in order to make money. What can you earn without moving your arms? It relies on strength, perseverance and patience. None of the patience traders are not swept out. To be financially invested, you need patience, whether it be stocks, futures, foreign exchange, or bonds. One of my friends is doing foreign exchange margin trading, with a leverage of 400 times. The list of European and American currency pairs has been more than two years, and the profits are extremely rich. That is the 06, 07 years of the dollar’s ​​rise, and it’s patience for two and a half years. .

In this market, there is no patience to say that making money, making big money, even survival is impossible. You have heard many myths about the future of riches. If you have the heart, you can check it out. You will find that the source of the rumors are futures companies and wild-handers. They are intentionally fabricated. In order to encourage high-frequency and heavy-selling transactions, you can earn more. Commission and handling fee. Even if there is a real component, you can see that the final result of the rumor protagonist is definitely poor.

The core of risk control in trading is fund management, and there is no way to manage fund management without patience.

It is only possible to make a trend if fund management is in place.

It is recognized that regardless of stocks, futures, foreign exchange, bonds, trend trading is a master level transaction. Why ordinary traders can't make a trend because their money management is not in place. You 80% of the positions to go to the bottom of the trend, as long as a turbulence is shocked out. Perhaps in order to make this round of trends, catching a big bottom will completely break the position.

Doing the trend requires patience and more capital management. 2% of positions are opened, futures are called bills, and stocks are called sucking. Slowly, step by step, and gradually increase the code. This process is described by Du Fu, the greatest poet of the Tang Dynasty, who sneaked into the night with the wind and moistened the object. In the transaction, if you get this idea, you will make a lot of money and you will become everyone.

Many people want to grasp the trend of the bottom, the market is judged right, this is only a technical analysis; the timing of entering the market is no problem, this is the trading strategy is also the opposite; that is, the risk control is not understood, the fund management is not in place, the earthquake is broken Dismounting, sitting on the ground and watching the market as if you are dislocated, you can only helplessly miss it.

Regardless of the market, the fate of the light warehouse and the heavy warehouse are completely different.

In the transaction, the market judgment is never the first. Those who are heavy, no matter what the market is, the final outcome is a short position. The light warehouse, even if it is a single direction, will easily greet the opportunity to solve the problem; or the injury-free stop loss, turn to the trend.

One of the questions that traders often ask is that someone has been arbitrarily ordered, and why they get the last one and make a lot of money. This is because: First, the fund management is in place, the risk control is done well, the list can be taken, usually the light warehouse; Second, the overall trend is no problem, the direction can be fixed.

Many traders have no problem with the market, because the positions are too heavy to go out. I met a trader, he was planning to do the PTA trend from the beginning, and told me to make a full position. There is no problem in the direction of his research. He asked for my opinion. I told him that the development of this market pattern is like the hanging needle of the Chinese calligraphy book "中中". How can you say this? He was full of confidence, rushed into the warehouse, quickly broke out, and then watched the trend of 80, 90 points every day, he could only sigh at the side.

I am here to ask the reader an old topic: the full position of the market in the market entry point, is the market research question, or trading strategy issues, or fund management issues?

Better technical traders are more difficult to make money

Traders with poor technology are more humble, gentle, not rushing, not aggressive, and more stable, but more likely to make money. If the level of technical analysis is high, there are often fears, fears, ignoring risks, and neglecting the management of funds. It is not only difficult to make money, but it is easy to break the position.

The technical analysis is neutral and does not have a position. Therefore, both the long and short sides use it. He is not enough and is not worthy of high trust because his natural defects are there. The technical analysis of a good trader is nothing more than the accuracy of his judgment. But he never understands that this accuracy is not the basis for his heavy and full positions, because your high accuracy does not mean that there is no risk, but that you may be less likely to be beaten, full warehouse, heavy warehouse, even if you are squatting, there is a little risk. Destined to be out of the game. The market has always been a wave of twists and turns, a deep foot and a shock, forward. Even if your market is judged to be 100% accurate, it is obviously impossible to make the trend of the market ideally smooth like a cable car or an elevator.

In trading, humble, gentle, patient, and cautious traders, even if the technology is poor, are much more likely than the seemingly technically superior, neglecting risk control, contempt for money management, and earning the principal. Through long-term observation, Huang Su decides whether to succeed or fail, whether to break the position is the implementation of risk control and fund management, rather than the so-called technical analysis.

Humble, gentle, patient, and cautious traders are also better at making technological advances and breakthroughs, and the level is much faster. It seems that the decision to make money and lose money is a state of mind, not something else.

More than 90% of the risk comes from leverage

In the world of trading, 90% of the risk comes from leverage. I have repeatedly talked to the traders about the issue of deleveraging. There is a poorly-performing player who whispers: If you deleverage, it is better to make stocks. I told him that although your performance is not good, I believe that you have been brilliant, but it was only a short period of one or two days. If other people are popular, you are a fireworks. The reason why I want to deleverage is to make you look good for a long time when you are brilliant again. This way your life will not be too turbulent.

He does not understand the essential difference between commodity futures and stocks. China's stock market is one of the policy markets, 5.30, and the leveraged cows are weaned, all of which fully demonstrate the deep non-market economy. The second is man-made manipulation, which is not clean with the words of the shareholders. The commodities are different. He is in the world economic circle. In the world market, the price is transparent and there is a little government intervention and manipulation. In the trade, it is controllable, that is to say there is no uncontrollable policy risk and black box operation of muddy water. In addition, commodities are two-way transactions. Of course, there are many opportunities for trading, and the risk will be great.

If you are not Soros, nor a large state-owned enterprise consortium, or a simple deleveraging, consider 10 times leverage, capital utilization, two-way trading and other factors. Position control between 2% and 5% is objective.

Just deleveraging is not enough

Leverage is full of temptations and a very magical discovery. The temptation is to pay a painful and heavy price. China's commercial housing market is unconventional and violates the general market rules and has soared for ten years. I sell in 2004 680 000 000 931 set of Zhongguancun, buying three small two-bedroom 80 square meters opposite, actually now worth 16 million. In the second half of 2014, the stock market also learned how to play real estate. Real estate is 5 times leveraged, stock leverage is also 5 times of capital allocation, margin financing and securities lending. Soon the index is pushed to more than 5,000 points, just in the management and stock market. When we were 10,000 points, the dream finally broke. They finally realized that the stock market will affect and spread to the property market. If the stock market violently oscillates at 8000-10000, it will be a disaster, because of the resonance effect. Will definitely be in the property market. This has also resulted in an emergency call to stop financing and securities lending, to stop stock allotment, and hastily deleveraging led to a stock market crash with thousands of stocks falling, but the property market has been saved.

When the developed countries of the world are deleveraging, we can't wait to pick up what people have discarded. You must understand that you are doing things far beyond your ability. This is the unbearable weight of life, and the leverage is magnified. One person, one industry, and one country will be crushed, collapsed, and exploded when the risk comes. At that time, each of us will be saddened by the lack of patience and desire.

The wild-hander is 80%-100% of positions, and the futures company encourages and advocates 50%-80&positions for the benefit of oneself. I have always advocated deleveraging to 8% (many of the accounts with large funds are enjoying the low margin ratio). So simple deleveraging is not enough. 10% of the following positions are not acceptable.

Fund management, risk control, just as Huang Su said that its role is unusual, but they are also double-edged swords, you have to pay more patience, tenacity, strength, patience. For you to keep the principal, you will not explode, so that you can survive, you must restrain, press, suppress, and give up your desire to gain a big profit. Only in this way can you change space with time and gradually accumulate over long roads. . This is the smooth path of wealth accumulation recognized by the world and the true essence of our transactions. Only when you are calm, willing, happy, close to enjoy, and grateful to accept this method will you feel fun and coziness in the transaction. It will be the final, one of the few winners; it will perceive the real winner's trading mentality; it will reach the master's trading realm.

Give up your original, innate trading rhythm, frequency and holding habits, and control the greed and jealousy of human nature. Be a professional, well-trained, peace of mind, trader with a strong belief. Risk control and fund management are our code of instruction. It is the decree that God has given us. It is our unswerving faith. For us, he is as important as diet, love, and sexual intercourse, making the management of money management part of our desire to survive.

Fund management is the lifeblood of trading. Losing her life of trading is over; in the process of seeking capital management, as long as we are persevering, the door of wealth will gradually open.

I have a good job. He gave me a trading system with an accuracy rate of 98%. He told me: "This is the key to opening Jinshan. We can only dig a small shovel and a small shovel. Because the number of hands is enlarged. Become a loss"

Visualization of fund management

In order to visualize the explanation, I have divided the position of fund management by 100%; for the reader to better understand, and to make a visualized corresponding classification; the author made a evaluation of the type of position, and the probability of survival, Group and star rating (percentage) used. Risk control, risk perception, and risk awareness are different concepts, and the dynamic use of fund management will be discussed one by one in the future.

Each subtitle written here will have two or three thousand words in a detailed description. Considering the limitation of space, it can only be summarized and programmatic. I hope that I have the opportunity to explain it to everyone more fully.

Trader's fund management execution ratio comparison survival probability table