sychological flaws and fears； whatever your inner demons； whatever your hidden weaknesses and obsessions； the market will seek them out； find them； and use them against you； like a skilled wrestler uses his opponent’s own weight to toss him to the ground。
市场吸引贪婪的交易者重仓买入，然后利用回调摧毁他们，因为重仓是无法忍受亏损的。他们利用快速的回调动摇已经赢利的交易者，吓的他们发抖，出场，然后快速拉升。偷懒的交易者是最好的受害者，他们就喜欢欺负没准备的人。你的心理缺点，恐惧，内心的恶魔，脆弱，困扰，市场会找到这些心理，利用它们对付你，就像高水平的摔跤手利用对手的体重把对手摔倒在地。
Successful traders have outgrown or overe their inner demons。 Instead of being tossed by the markets； they maintain their own balance and scan for chinks in the crowd’s armor； so that they can toss the market for a change。 They may appear eccentric； but when it es to trading they are much healthier than the crowd。
成功的交易者已经成熟了，或者是克服了心魔。不但不会被市场欺负，他们会自己保持平衡，寻找市场的漏洞，所以他们会欺负市场。他们看起来很古怪，但是在交易的时候，他们比大众健康多了。
Being a trader is a journey of self…discovery。 Trade long enough； and you will face all your psychological handicaps … anxiety； greed； fear； anger； and sloth。 Remember； you’re not in the markets for psychotherapy； self…discovery is a byproduct； not the goal of trading。 The primary goal of a successful trader is to accumulate equity。 Healthy trading boils down to two questions you need to ask in every trade： “What is my profit target？” and “How will I protect my capital？”
作为交易者的过程就是自我发现的旅程。交易的时间越长，你就会发现自己的心理缺陷——焦急，贪婪，恐惧，愤怒，懒惰。记住，你不是在接受治疗，自我发现只是副产品，不是交易的目标。成功的交易者的目标就是赚钱。成功的交易会回答你每笔交易时的2个问题：“我的利润目标是多少？”和“我如何保护我的资金？”
A good trader accepts full responsibility for the oute of every trade。 You cannot blame others for taking your money。 You have to improve your trading plans and methods of money management。 It will take time； and it will take discipline。
优秀的交易者自己为自己的每笔交易负责。你不能怪别人抢了你的钱。你必须提高自己的交易计划，方法和资金管理。这是需要时间的，还需要纪律。
Discipline
纪律
A friend of mine used to have a dog…training business。 Occasionally a prospective client would call her and say； “I want to train my dog to e when called； but I do not want to train it to sit or lie down。” And she’d answer； “Training a dog to e off…leash is one of the hardest things to teach； you must do a lot of obedience training first。 What you’re saying sounds like； ‘I want my dog be a neurosurgeon； but I do not want it to go to high school。’ ”
我有个朋友，过去做训狗生意。偶尔，满怀希望的客户会打电话说：“我想训练我的狗，叫它来就来，但是我不想训练它坐或躺下来。”她回答说：“训练狗不戴狗带是最难的事，首先要从很多听话的动作开始。你说的话就等于：“我希望我的狗能做神经外科医生，但我不想它去上学。””
Many new traders expect to sit in front of their screens and make easy money day…trading。 They skip high school and head straight for neurosurgery。
很多新交易者希望坐在屏幕前，做日内交易，赚轻松钱。他们等于是想不上学就能做神经外科医生。
Discipline is necessary for success in most endeavors； but especially in the markets because they have no external controls。 You have to watch yourself because no one else will； except for the margin clerk。 You may put on the stupidest and self…destructive trades； but as long as you have enough money in your account； no one will stop you。 No one will say hold on； wait； think what you’re doing！ Your broker will repeat your order to confirm he got it right。 Once your order hits the market； other traders will scramble for the privilege of taking your money。
对于任何冒险来说，纪律是必须的，尤其是在市场中，因为你没有外部控制。由于没人照顾你，你就要自己照顾自己，管保证金的职员例外。你可以一直进行最蠢最自毁的交易，只要你的账户还有足够的钱，是没有人阻止你的。没有人说打住，等等，想想你在做什么！你的经纪人会重复说一次你的订单，以便确认。一旦你的订单进入市场，其他交易者就要想尽一切办法赚你的钱。
Most fields of human endeavor have rules； yardsticks； and professional bodies to enforce discipline。 No matter how independent you feel； there is always some agency looking over your shoulder。 If a doctor in private practice starts writing too many prescriptions for painkillers； he’ll soon hear from the health department。 Markets impose no restrictions； as long as you have enough equity。 Adding to losing positions is similar to overprescribing narcotics； but nobody will stop you。 As a matter of fact； other market participants want you to be undisciplined and impulsive。 That makes it easier for them to get your money。 Your defense against self…destructiveness is discipline。 You have to set up your own rules and follow them in order to prevent self…sabotage。
大部分的人类冒险都有原则，标准，以及专业人士保证纪律。无论你感觉多么独立，总是有专家在保护你。如果一个私人医生给病人开了很多止痛药，健康部门一定会找他了解情况。市场里没有限制，只要你有足够的资金。摊平成本等于使用过量的麻醉药，但没有人阻止你。事实上，其它市场参与者希望你没有纪律，希望你冲动。这样他们就很容易赚你的钱。防止自毁的就是纪律。你必须建立自己的原则并使用这些原则，以防止自毁。
Discipline means designing； testing； and following your trading system。 It means learning to enter and exit in response to predefined signals rather than jumping in and out on a whim。 It means doing the right thing； not the easy thing。 And the first challenge on the road to disciplined trading involves setting up a record…keeping system。
纪律意味着设计，测试，并使用你的交易系统。就是根据提前设置好的信号进场，出场，而不是冲动地进进出出。要做正确的事，不要做简单的事。进行有纪律的交易遇到的第一个挑战就是建立一个交易记录系统。
Record…Keeping
做交易记录
Good traders keep good records。 They keep them not just for their accountants but as tools of learning and discipline。 If you do not have good records； how can you measure your performance； rate your progress； and learn from your mistakes？ Those who do not learn from the past are doomed to repeat it。
优秀的交易者做优秀的交易记录。他们保持交易记录不仅仅是为了他们的账户，而是为了学习和纪律性。如果你没有好的交易记录，你如何计算你的成绩，给你的进步打分，从错误中学习？如果不从错误中学习，必然会重复错误。
When you decide to bee a trader； you sign up for an expensive course。 By the time you figure out the game； its cost may equal that of a college education； only most students never graduate … they drop out and get nothing for their money except for memories of a few wild rides。
当你决定要做个交易者，你等于报名上了昂贵的课程。当你搞清楚这个游戏的时候，花费差不多可以读个大学了，而且大部分学生无法毕业——他们退学了，交了不少学费，除了一点狂野的记忆，什么都没得到。
Whenever you decide to improve your performance in any area of life； record keeping helps。 If you want to bee a better runner； keeping records of your speeds is essential for designing better workouts。 If money is a problem； keeping and reviewing records of all expenditures is certain to uncover wasteful tendencies。 Keeping scrupulous records turns a spotlight on a problem and allows you to improve。
无论何时，当你决定提高自己的水平时，做记录都会帮助你。如果你想成为优秀的赛跑手，做好记录才能想到更好的办法。如果钱是问题，保持做记录，并不断回顾，一定会找到亏钱的原因。认真地做记录，就会聚焦到问题上，你就会改进问题。
Being a good trader means taking several courses … psychology； technical analysis； and money management。 Each course requires its own set of records。 You’ll have to score high on all three in order to graduate。
做一个优秀的交易者意味着学习多个课程——心理，技术分析，资金管理。每个课程都需要自己做交易记录。你必须在3门课上都取得高分才能毕业。
Your first essential record is a spreadsheet of all your trades。 You have to keep track of entries and exits； slippage and missions； as well as profits and losses。 Chapter 5； “Method … Technical Analysis” on trading channels will teach you to rate the quality of every trade； allowing you to pare performance across different markets and conditions。
你的第一个关键交易记录是记录所有交易的电子表格。你必须记录进场，出场，滑点和佣金，包括利润和亏损。在第05章，方法——技术分析，会谈到通道，会告诉你如何记录每笔交易，教你在不同市场情况下做成绩对比。
Another essential record shows the balance in your account at the end of each month。 Plot it on a chart； creating an equity curve whose angle will tell you whether you are in gear with the market。 The goal is a steady uptrend； punctuated by shallow declines。 If your curve slopes down； it shows you’re not in tune with the markets and must reduce the size of your trades。 A jagged equity curve tends to be a sign of impulsive trading。
另外一个关键的交易记录可以显示你每月底的账户情况。它是图形，资金曲线的角度可以告诉你你是否和市场同步。目标是要实现稳定上涨，中间有小的下跌。如果你的曲线是下跌的，说明你和市场不同步，你必须减少你的仓位。上下起伏的资金曲线就说明你是冲动交易。
Your trading diary is the third essential record。 Whenever you enter a trade； print out the charts that prompted you to buy or sell。 Paste them on the left page of a large notebook and write a few words explaining why you bought or sold； stating your profit objective and a stop。 When you close out that trade； print out the charts again； paste them on the right page and write what you’ve learned from the pleted trade。
你的交易日记是第三个关键交易记录。不管你何时进行交易，把提示买卖喜好的图打印出来。把它们贴在笔记本的左边，并写几个词解释你为什么买卖，写上你的利润目标和止损点。当你出场时，再把图打印出来，贴在笔记本的右边，写上你从这次交易中学到了什么。
These records are essential for all traders； and we will return to them later in Chapter 8； “The Organized Trader。” A shoebox crammed with confirmation slips does not qualify as a record…keeping system。 Too many records？ Not enough time？ Want to skip high school and dive into neurosurgery？ Traders fail because of impatience and lack of discipline。 Good records set you apart from the market crowd and put you on the road to success。
这些交易记录对交易者很关键，我们会在“第08章，有条理的交易者”一章继续谈。塞满鞋盒的交易确认单不能算做交易记录系统。要做的记录太多了？没有时间？你想跳过中学直接读神经外科医生？交易者失败就是因为没有耐心，没有纪律。优秀的交易记录把你和大众分开