The third chapter of "Memoirs of a Great Composer" is a very enjoyable chapter for Zhang Yuan to read.

Because in this chapter, Livermore has already begun to make big deals: the North Pacific Railroad, the Morgan Group, etc., these terms make Zhang Yuanyi seem to be able to travel back to the era of the American stock market boom more than 100 years ago.

In class, Lin Danqing still had the same old question: "What did you see in Chapter 3?" ”

"Master, I think there are a lot of dry goods in Chapter 3!"

"Dad, I think so too" Lin Shuang'er nodded again and again.

"Let's talk about it" Lin Danqing looked at Zhang Yuanyi and encouraged with a smile.

"The first sentence made me think about it for a long time. Livermore said: There are two sides to everything, but there is only one side to the stock market, not the bulls, not the bears, but the right side. ”

"Huh?" Lin Danqing glanced at Zhang Yuanyi deeply, and he had also paid attention to this sentence when he watched the big deal in the past.

I thought it was a simple sentence, but how did it take Livermore so much time to stick to his mind? And because he said that he spent more time on this sentence than most of the technical level problems in other stock speculation games, I thought it was not that simple. ”

Although Lin Danqing had paid attention to this sentence before, he didn't think too much about it, and now when he heard Zhang Yuanyi say this, he couldn't help but think about it.

"Yes, there are two sides to everything, there are right and wrong, and people's judgment is the same, but in the stock market, this market, is always correct!" Lin Danqing pondered.

Zhang Yuanyi continued: "I used to hear people say that Mr. Market, who is always right, has not yet understood deeply, but this time I read the book, I think it is a little more transparent, precisely because the market is not wrong, so it is only us participants who are wrong, so any complaints are useless." All we can do is adapt to the market! All we can do is to be aware of the market and then decide what we do! Decide our buying and selling according to the changes in the market, rather than preconceived ideas of buying and selling to expect the market to change accordingly! ”

"But the market is always changing, and the reason why it changes is because the market always finds that we are spying on it, and the market has formed its own character in the market, and its autonomous movement will make our once correct perception wrong, so our strategy, our understanding should change with the market!"

Zhang Yuanyi finished speaking in one breath, looking forward to Lin Danqing's comments, because his understanding was different from the notes in Lin Danqing's book.

But he didn't expect Li Wenzhong to fall into deep thought, and then look at Shuang'er, he was also thinking there.

Well? What's going on? Did I say it wrong? Zhang Yuanyi looked confused.

After a while, Lin Danqing finally smiled and said, "Yuan Yi, your understanding has deepened my understanding of this sentence, and you said it very well." ”

"It is true that any prediction made about the market can be wrong, and changes in the market are the norm. Yes, it's right, it's us who are wrong. ”

"It is precisely because it is the only right gentleman that it is normal for us to make mistakes in front of the market, in order to avoid making mistakes, we must always pay attention to the market, and only by following the market will we not be abandoned by the market! There are many participants in this market who want to beat the market, but those ideas to beat the market are all foolish dreams! ”

Obviously, Lin Danqing thought that Zhang Yuanyi could have such an understanding, and further elaborated on Zhang Yuanyi's understanding.

"What else impressed you?" Lin Danqing continued to ask.

"Don't simulate stock trading, if you want to make stocks, you need to invest real money in it." After Lin Shuang'er finished speaking, she blinked her big beautiful eyes.

Zhang Yuanyi glanced at Shuang'er's pretty face, and said with a smile: "What Shuang'er said is what I want to say, now I think about it before I opened an account I also conducted a mock stock speculation for half a year, now I think about it is really a waste of time!" It's not like Shuang'er is real at the beginning. ”

"That's, hum" Shuang'er came with a naughty and cute expression, looking smug, and Lin Danqing and Zhang Yuanyi couldn't help but laugh when they saw it.

"Why don't you simulate stock trading?" Lin Danqing asked with a smile.

"Because the impact of simulated stock trading on our psychology is too small, if we lose money in simulated stock trading, we will not be much frustrated, and we will not be particularly happy when we make a profit, so the effect on psychological tempering is basically equivalent to zero. It was only later that the actual combat began to let me really understand the stock market, and only when I lost money did I realize the mistakes I made. Zhang Yuanyi thought about it and said.

"Well, big brother is right, it's only because of my loss recently that I agree more with Livermore's opinion."

Lin Danqing recently began to let Shuang'er realize, completely operated by herself, and she did not guide her real, a number of hands, must go through the wind and rain of the market to grow up.

After listening to Shuang'er's speech, Lin Danqing nodded and said, "When Dad, I didn't go through the simulation stage when I entered the market, and I just started to hit my head and bleed." ”

"Dad, really?" Lin Shuang'er felt a little embarrassed to say that he had lost just now, and when he heard his father say this, he couldn't help but smile, his father used to be the same, so I ...... now And that's nothing.

Lin Danqing glanced at her daughter, and then said: "Now that the technical conditions are good, there are many people who conduct simulated trading, as you just said, it is really useless." Whether the stock trading is successful or not depends largely on a person's psychological quality. And the psychological quality is improved from actual combat, and it is indeed not possible to rely on simulation. ”

Lin Danqing paused, took a sip of tea, and continued to ask: "Yuan Yi, do you like to hear the news when you lost money before?" ”

Zhang Yuanyi was embarrassed and said, "Master, I used to be a news fan!" Ay. ”

As he spoke, he sighed, with an expression of "it shouldn't have been like this back then", and then continued:

"In Chapter 3, Livermore again stresses that you should not listen to inside information, or even any information, and that it is good to trade only at your own judgment."

"But it's another thing to know and do, master, I'm still going to be affected by some news, although I know that I should try to avoid being affected by news, but it's hard to do."

Lin Danqing smiled and said: "News, sometimes you can't listen to it, even if you don't deliberately inquire about the news, some people will take the initiative to pass on some news to you, for example, if you go to any financial website, you will see all kinds of financial information, and there are many long-term news." Reading it will have some impact on your perception. To be like Levermore, it does take a lot more experience, not only to overcome the impact of the message in practice, but also to take time to dilute the impact of the message. ”

"You see, it takes more than five years for a genius like Livermore to learn how to overcome the effects of the news, let alone us?"

When Zhang Yuan heard this, he also said:

"Master, I also agree with Livermore's point of view, listen to other people's news, put hope on others, and in the end disappointment will definitely be greater than hope."

"Even if someone tells me the right point to buy, do they remember to tell me to sell? Not necessarily. ”

"When I first started trading stocks, I liked to listen to all kinds of news, but there was very little news to really make me money, all kinds of news flew all over the sky every day, I don't know which news is true, which news is false, even if the news is true, but when I know that it is true, and then take measures, the opportunity has been missed."

Lin Danqing took another sip of tea, looked at Zhang Yuanyi and Lin Shuang'er, and said:

"So, it's better to hear less news! And according to my personal experience, there are ulterior motives behind a lot of news, so be even more careful. It's not that there are no insiders, yes, there are a very small number of well-informed people who can indeed make a fortune using insider trading, but for ordinary retail investors, the insider you get is rarely an insider, just a bait, then you are still fooled in addition to being fooled. ”

Zhang Yuanyi nodded depressedly and said: "Therefore, many retail investors are very pitiful, the information is asymmetric, and the technology is not good, so it is strange if they don't lose." ”

"So it's not easy to make money in the stock market." Lin Danqing sighed.

"However, master, I think that the news given to us by others does not mean that we should never listen to it, but we must have our own discernment, and I think that some good financial websites should still look at financial information and related news every day, not in what the information itself is, but I think it is necessary to learn to distinguish useful information from a large number of information, master, what do you say?"

"Well, Yuan Yi, you said very well, you can't beat the information to death with a stick, but the premise is to have the ability to analyze the information! You have to have discernment, but the cultivation of this discernment is not something that can be done in a day or two, you have to understand this, you have to work hard! ”

"Hmm," Zhang Yuanyi and Lin Shuang'er nodded repeatedly.

"How can you do it without hard work, without hard work? I just want to eat ready-made, how can there be such a good thing! You see, a big speculator like Livermore goes through multiple bankruptcies, and they are all constantly reflecting on their mistakes before they can sublimate. ”

"But in reality, there are indeed many market participants who want to do nothing and just want to listen to other people's news and make money in the stock market, is it possible? Of course it is impossible, when you enter the stock market, how can you not pay tuition, and everyone expects to use the stock market as their own ATM, which is so easy! ”

Zhang Yuan nodded again and again, he very much agreed with Lin Danqing's point of view.

Speculation or investment is a difficult business, making money in the stock market is very draining, and it is difficult to imagine that you want to make money in the stock market without working hard and being diligent.

Think about the past life, the reason why you can make some money on the road to investment is that one night is not to review until late at night.

Even if you are speculating, you must treat speculation as a serious business, and only by working hard and suffering can you become a master! If you don't care, you can't endure hardship, and the final outcome will only be failure.