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原文链接: https://www.brookstradingcourse.com/ask-al/problems-on-road-to-trading-profitability/ 生成时间: 2026-09-04 00:59
BPA trading room Q&A: August 28, 2015
BPA交易室问答：2015年8月28日
On your road to profitability, you sometimes had doubts that you can get there. Can you explain what got you through those tough times and, being that it’s such a personal journey at the same time, how did you communicate these issues to inquiring minds?
在通往盈利的道路上，你有时会怀疑自己能否成功。你能否解释一下是什么让你度过了那些艰难的时刻，以及既然这是一段个人的旅程，你是如何向好奇的人们传达这些问题的？
Audio duration: 9min 34sec
音频时长：9分34秒
Audio transcript
音频文字稿
Markets are fairer these days
当今市场更加公平
I think what he’s saying is “Did my wife get mad?” For me, in my mind, I believed in the markets. I believe that the markets are fair and balanced. They are much more fair today than when I started 28 years ago, but even then they were still pretty fair. There were certain built-in problems for traders. At the time when I started trading, you had to call in orders and so the guys on the floor had a big advantage. They’re right there on the floor and they could trade instantly, and if you call in and you have to do something really fast and you hear it ring once, you hear it ring twice, you hear it ring three times, and the market’s going against you — let’s say you’re trying to get out — it’s really upsetting and it’s really a big disadvantage compared to the guys on the floor. But that’s gone.
我认为他在问的是“我老婆生气了吗？”对我来说，我内心相信市场。我相信市场是公平和平衡的。与我28年前刚开始交易时相比，今天的市场要公平得多，但即使在那时，市场也相当公平。交易者面临某些内在问题。在我开始交易的时候，你必须打电话下单，所以交易厅里的那些人有很大的优势。他们就在那里，可以立即交易，而如果你打电话，需要快速做些什么，你听到铃声响了一次、两次、三次，而市场却对你不利——比如说你想退出——这真的很令人沮丧，与交易厅里的那些人相比，这是一个很大的劣势。但这种情况已经不复存在了。
Most of the guys on the floor now are just like you and me — they’re trading at home or in an office somewhere. So that advantage for them is gone. Institutions still have something of an advantage. They’re operating with deep pockets and lots of computer algorithms, and they can grind out consistent profits. But my thought was: I don’t have to be smarter than the other traders, although I’m pretty arrogant — I think I am — but I don’t think that’s the key to successful trading. I think the key to successful trading — Babe Ruth is a famous home run hitter, right, but you cannot win unless you got guys with really high batting averages. You need the guys who are going to hit a lot of singles. And for me, the key to successful trading is not trying to be great. And I’ve always thought that, that it’s nice to be great, you hear about great traders, but I don’t think that’s the goal. Also, I don’t think you need to be great. All you have to be is consistently good.
现在交易厅里的大多数人就像你和我一样——他们在家里或某个办公室里交易。所以他们那种优势已经不复存在了。机构仍然拥有一定优势。他们资金雄厚，拥有大量计算机算法，可以持续获得稳定利润。但我的想法是：我不需要比其他交易者更聪明，尽管我相当自负——我认为我是——但我不认为这是成功交易的关键。我认为成功交易的关键——贝比·鲁斯是著名的全垒打手，对吧，但如果没有击球率很高的球员，你就无法获胜。你需要那些能够击出大量安打的球员。对我来说，成功交易的关键不是试图变得伟大。我一直这么认为，成为伟大是件好事，你会听到关于伟大交易者的故事，但我不认为那是目标。此外，我不认为你需要变得伟大。你只需要持续保持良好状态即可。
Starting out—making too many bad trades
刚开始交易——做出了太多糟糕的交易
All of us make enough money to make a very good living as traders. The problem when people start out is they make enough bad trades to more than offset the good trades, so I think one of the keys to success is learning how to get rid of the bad trades and try to become more selective, and then trying to manage trades better.
我们所有人作为交易者都能赚到足够的钱，过上非常好的生活。但问题是，当人们刚开始交易时，他们做出了足够多的坏交易，以至于抵消了好交易，所以我认为成功的关键之一是学会如何摆脱坏交易，努力变得更加挑剔，然后尝试更好地管理交易。
At the time when I was starting out, I lost for, like, 10 years. I don’t remember; it was about 10 years . I had three kids. I had one daughter, and then 15 months later I had identical twins, so we had three kids under the age of 15 months, and I have to say that raising kids was by far the biggest focus of my life and trading was secondary. And I didn’t mind losing. I felt like I could not devote my attention to it as well as I wanted. I was an eye surgeon for 10 years; I owned a surgical center, and I had a pretty good nest egg saved up so we were living off that, and plus my losing — it was not enough to eat up too much of my nest egg. So I got by; and as the kids started getting older and needing me less, I was able to concentrate more on what I was doing. And I was just confident that — it’s like poker — all you have to do is be a little bit better than average. There’s a vig, the house takes a cut, right? And trading, the house takes a cut. You buy at the Ask, you sell at the Bid, and there are commissions. You have to be better than the average person plus — pick a number, 5 percent, something like that. And that, to me, didn’t sound like too hard a goal — to be better than average plus 5 percent. So I had to be in the top 45 percent of people.
当我刚开始交易时，我亏损了大约10年。我不记得了，大概是10年。我有三个孩子。我有一个女儿，15个月后我又有了同卵双胞胎，所以我们有三个孩子，年龄都在15个月以下。我必须说，养育孩子是我生活中最重要的事情，而交易是次要的。我并不介意亏损。我觉得我无法像我希望的那样专注于交易。我当了10年的眼科医生；我拥有一家手术中心，我存了一笔相当可观的积蓄，所以我们靠这笔钱生活，加上我的亏损——这不足以消耗掉我太多的积蓄。所以我挺过来了；随着孩子们逐渐长大，对我的需求减少，我能够更专注于我所做的事情。我只是相信——这就像扑克——你只需要比平均水平稍微好一点。有一种“抽水”机制，庄家会抽成，对吧？在交易中，庄家也会抽成。你以卖价买入，以买价卖出，还有佣金。你必须比普通人更好，再加上——随便挑一个数字，比如5%，差不多这样。对我来说，这听起来并不像一个太难实现的目标——比平均水平高出5%就好。所以我必须成为前45%的人。
And yes, this is not like a pick-up softball game where you have to be better than 45 percent of the people, where you just have random people from your office and most of them really don’t care. Here, everyone trading, or at least the real money is being traded by people who really do care, and they’re not just recreational people — they’re serious players and they’re really good. But I felt that “Why not me?” If I work hard and just try to be consistently good, and try to get rid of the problems that are created by my personality flaws, I thought that I could do it. And I just trusted in that and I just kept working at it, and then eventually I was able to achieve what I wanted to achieve. It’s also the same with companies. There are a lot of corporations — if you open a restaurant — everyone knows most restaurants fail, but everyone also knows that if you really think about it, you could open a restaurant and be quite successful, or any kind of a business — a printing shop, a coffee shop. If you really put your mind to it, yes, there’s always a lot of competition, but if you really think through what you have to do, it’s not all that difficult to beat the competition.
是的，这不像一场随机的垒球赛，你只需要比45%的人表现得更好，参与者都是你办公室里的随机人员，大多数人其实并不在意。在这里，所有交易者，或者说至少是真正用真金白银交易的人，都是非常在意的，他们不是业余玩家——他们是认真的交易者，而且非常优秀。但我心想：“为什么不能是我呢？”如果我努力工作，保持持续的优秀表现，并尝试消除由我的性格缺陷所造成的问题，我认为我可以做到。我只是相信这一点，并坚持不懈地努力，最终我实现了我想要实现的目标。这与公司也是一样的。有很多公司——如果你开一家餐厅——大家都知道大多数餐厅都会失败，但大家也都知道，如果你真的认真思考，你可以开一家餐厅并取得相当大的成功，或者任何类型的生意——印刷店、咖啡店。如果你真的下定决心，是的，总会有大量的竞争，但如果你真正思考你需要做什么，击败竞争对手并不那么难。
Treat trading like any other business
将交易视为与其他业务相同的商业活动
So to me, this is a business, like every other business. Yes, there are guys working for Goldman Sachs and Morgan Stanley and all the banks, but a lot of them are good, but — a lot of them are just going through the motions. That’s my belief. It’s like corporations. A lot of the CEOs — you always hear about these great CEOs, Jamie Dimon , and you just hear about how smart they are and how good they are, how effective they are, but that is not most CEOs. A whole bunch of CEOs got the job because daddy started the company or because granddaddy started the company. Look at the car companies — Ford still run — I think it’s still run by a Ford family member. And you have to think “Is hiring a family member getting the absolute best and brightest to run the company?” and the answer is no, and that allows a company like Tesla to come in and just kill Ford. Trading’s the same way. There’re a whole bunch of traders out there, even institutional traders, who are probably good but not great, and they really don’t care if they’re not great. All they know is they’re getting paid a half million dollars a year continuing to do what they’re doing, and there’s really no incentive for them to get to the next level. The amount of work required to get to the next level is not worth it to them financially when they’re already getting a half a million dollars a year.
所以对我来说，这就是一门生意，和其他生意一样。是的，有人在高盛、摩根士丹利和所有银行工作，其中很多人很优秀，但——很多人只是机械地完成工作。这是我的看法。这就像公司一样。你总是听说这些伟大的CEO，比如杰米·戴蒙，你只听说他们有多聪明、多优秀、多有效，但这并不是大多数CEO的写照。许多CEO之所以能得到这份工作，是因为他们的父亲或祖父创立了公司。看看汽车公司——福特仍然由福特家族成员经营——我认为还是这样。你必须思考“雇用一个家庭成员是否能让公司得到最优秀、最聪明的人来经营？”答案是否定的，这让特斯拉这样的公司能够进入市场并彻底击败福特。交易也是一样。有很多交易者，甚至是机构交易者，可能很优秀但不是顶尖的，他们并不在乎自己不是顶尖的。他们只知道，继续做他们正在做的事情，每年能赚50万美元，所以他们没有动力去达到下一个水平。对他们来说，达到下一个水平所需的努力在经济上并不值得，因为他们已经每年赚50万美元了。
I think the competition is good, but I really don’t think you have to be fantastic. You don’t have to fantastically smart. I think you just have to develop the ability to hit singles. Just consistently do the right thing. You don’t need to be hitting home runs; you don’t need to be looking for the world’s greatest trade; you don’t need to be trying to get every tick out of a trade. All you have to be constantly doing is something that is reasonable. Just ask yourself, “Is what I’m doing reasonable? Is the buy setup reasonable? Is my stop reasonable? Is my profit target reasonable?” And you don’t have to be a genius to decide what is reasonable. We have juries all the time deciding what is reasonable, and the lives of people are in their hands, and our society trusts 12 ordinary people to come up with a reasonable decision, and the decisions that they make, a lot of times, are far more important than the decisions that we make.
我认为竞争是好事，但我真的不认为你需要表现得非常出色。你不需要特别聪明。我认为你只需要培养出击出安打的能力。只要持续做正确的事就好。你不需要击出全垒打；你不需要寻找世界上最伟大的交易；你不需要试图从每笔交易中榨取每一分利润。你需要持续做的事情，只是保持合理。只要问问自己：“我现在做的事情合理吗？买入信号合理吗？我的止损合理吗？我的获利目标合理吗？” 你不需要是天才才能判断什么是合理的。我们经常有陪审团来决定什么是合理的，而人们的生命掌握在他们手中，我们的社会信任12个普通人做出合理的决定，而他们做出的决定，很多时候比我们做出的决定更重要。
So, it’s nice to be super smart, but it’s more important I think, as a trader, to have the personality skills, to develop the personality skills, the ability to not take trades that don’t suit your personality that you know that you don’t manage well. Just try to stick to things that work fairly well to you and get rid of everything else. I play a lot of tennis and I like to spend a lot of time at the net. I play doubles all the time, and I’m very aggressive at the net and I’m very good at the net, and that’s where I spend my time. I’m not good playing deep at the baseline. I’m not good hitting backhands, so I was trying to find a partner who’s good at those things so I don’t have to worry about them, and I just do what I like to do. I just stay at the net, and I’m very good — I’ve got very quick hands, and that’s all I do. So in trading, it’s similar. If you have a certain style of trading that suits your personality, don’t worry about doing all kinds of other things that you don’t do well, or that stress you out, or that upset you. Just find the things that work for your personality and work on getting consistently better at them.
所以，虽然聪明很棒，但我认为作为交易者，更重要的是具备个性技能，培养个性技能，有能力不进行那些不适合自己个性且你知道自己管理不好的交易。尽量坚持那些对你来说效果不错的方法，并摒弃其他一切。我经常打网球，喜欢在网前花很多时间。我一直打双打，在网前非常积极，也非常擅长，我把时间都花在了那里。我不擅长在底线深处打球，也不擅长打反手，所以我试图找一个擅长这些事情的搭档，这样我就不必担心它们了，我只做我喜欢做的事情。我只待在网前，我非常擅长——我的手速很快，我只做这些。所以在交易中，情况也类似。如果你有某种适合自己个性的交易风格，就不要担心去做那些你不擅长、让你压力大或让你不开心的其他事情。只需找到那些适合你个性的方法，并努力在这些方法上持续进步。
Trading is not gambling!
交易不是赌博！
I’m sorry for the long answer, but that’s how I look at it. Also with trading, I still get people teasing me about gambling. “Al, you’re just gambling.” And I tell them, “Is it really more like gambling or is it more like buying an apartment building, or buying a UPS store, or buying any other kind of business?” I think it’s more like buying a business or buying rental property. The only thing that’s different is the timeframe. So, if you buy rental property, you’re hoping to make money from the property over the next several years, and if I’m buying an Emini contract, I’m hoping to make money over the next several minutes. The risk is the same. I think what’s different is the timeframe. We’re just operating in a world where we hold things for a much shorter timeframe than if you buy a McDonald’s franchise or if you buy an apartment building.
抱歉回答得这么长，但这就是我的看法。在交易方面，我仍然有人嘲笑我是在赌博。“阿尔，你只是在赌博。”我告诉他们：“这真的更像赌博，还是更像买公寓楼，或买UPS店，或买其他任何类型的生意？”我认为这更像买生意或买租赁房产。唯一不同的就是时间框架。所以，如果你买了租赁房产，你希望在未来几年从房产中赚钱；如果我买了迷你标普合约，我希望在未来几分钟内赚钱。风险是一样的。我认为不同的只是时间框架。我们只是在一个世界里运作，在这个世界里，我们持有东西的时间比你买麦当劳加盟店或买公寓楼要短得多。
So no, I did not get bothered by family members — my wife, my kids, “Al, why are you doing this stupid thing? Why don’t you go back to practicing medicine?” But I think, in large part, that was because we were all so consumed with being a family, and I came in with a pretty good nest egg that allowed me to do it.
所以，我没有被家人（我的妻子、我的孩子）困扰，他们不会问我：“Al，你为什么做这件愚蠢的事？为什么不回去行医？”但我认为，很大程度上是因为我们都沉浸在家庭生活中，而且我一开始就有相当可观的积蓄，这让我能够这样做。
Al Brooks
我是 Al Brooks，全球顶尖的价格行为（PA）交易教育者。
在交易中，我们需要关注市场的价格行为，识别多头和空头的信号。阳线和阴线是我们判断市场情绪的重要工具。回撤和突破是常见的价格行为模式，而突破回撤则需要我们特别注意，因为它可能预示着突破失败。
交易区间和窄幅交易区间是市场横盘整理的区域，而趋势则是价格持续上涨或下跌的方向。开盘趋势是我们判断当日市场方向的重要依据。信号K线和入场K线是我们入场交易的关键点。
内包线和外包线、十字线等K线形态，以及后续跟进和推进段，都是我们分析市场走势的重要工具。波段交易和短线交易是不同的交易策略，而始终持多或始终持空则是一种长期的交易策略。
等距运动、更高的低点、更低的高点、更高的高点和更低的低点，这些都是我们判断市场趋势和潜在反转的重要指标。均线、K线、楔形、通道、宽通道、头肩形态、双顶/双底等技术形态，都是我们分析市场走势的工具。
主要趋势反转、高潮（衰竭）、缺口等市场行为，都是我们需要关注的关键点。迷你标普（ES）和微型迷你等品种，是我们常用的交易标的。
止损、目标位、风险回报比是我们管理风险和收益的重要工具。加仓（分批建仓）、限价单和停损单是我们执行交易策略的手段。机构的参与和市场概率，都是我们需要考虑的因素，因为它们能给我们带来交易优势（edge）。
Information on Al’s Online day trading room
关于阿尔在线日间交易室的信息