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原文链接: https://www.brookstradingcourse.com/ask-al/skunk-stops/ 生成时间: 2026-09-04 14:17
Skunk stops—taking the middle road BPA trading room Q&A: April 13 & June 9, 2016
臭鼬止损——走中间路线 BPA 交易室问答：2016 年 4 月 13 日和 6 月 9 日
Question 1: I sold the 14 close, okay, and scaled in, closed out above 13. [That makes perfect sense. I think that’s reasonable.] I bought the 26 close and scaled in, closed out below 24. [Okay.] Can you comment on these decisions? Is this representative of how many tradings tend to play out? Really trying to follow along. Video duration: 6min 14sec
问题 1：我在 14 号 K 线的收盘价卖出，然后加仓，在 13 号 K 线上方平仓。[这很有道理，我认为这是合理的。] 我在 26 号 K 线的收盘价买入，然后加仓，在 24 号 K 线下方平仓。[好的。] 你能对这些决定发表评论吗？这是否代表了大多数交易的常见走势？我真的在努力跟上。视频时长：6 分 14 秒
You can also view this video on Al’s YouTube Channel if needed.
如有需要，您也可以在 Al 的 YouTube 频道上观看此视频。
Skunk stop trading
臭鼬止损交易法
Yeah, I think what you’re doing is, you’re using skunk stops. Stops that stink or dead skunk stops, right? This comes up all the time. So I think selling the 14 close, you’re taking a chance that you’re going to get the breakout below the moving average and that you get follow through selling below 1. I think that is okay. I think most traders who did that would exit above 13. So I think selling the 14 close, getting out above 13 is reasonable. Other traders will say, “Nah, it’s a trap; it’s a trading range. It will go above 13 and stay below the 5 high,” and 5 high is not much above the 13 high, so if you’re going to sell 14 close, put your stop above 5. And I don’t have a problem with that either. You know, you just never know in hindsight.
是的，我认为你在使用臭鼬止损法。这种止损法很臭，或者说是死臭鼬止损法，对吧？这种情况经常发生。所以我认为在 14 号 K 线的收盘价卖出，你是在冒险，希望价格能突破均线下方并出现后续跟进卖盘，跌破 1 号 K 线。我认为这是可以的。我认为大多数这样做的交易者会在 13 号 K 线上方离场。所以我认为在 14 号 K 线的收盘价卖出，在 13 号 K 线上方离场是合理的。其他交易者会说：“不，这是一个陷阱，是一个交易区间。价格会涨到 13 号 K 线上方，但会保持在 5 号 K 线高点下方。”而 5 号 K 线高点与 13 号 K 线高点相差不大，所以如果你要在 14 号 K 线的收盘价卖出，就把止损放在 5 号 K 线上方。我对此也没有意见。你知道，事后你永远不知道会发生什么。
Choose your stop
选择你的止损位
If I sold the 14 close, I would be concerned about 15 and 16. And I probably would get out above 16, and that’s why 17 looks that way. A lot of the bears did that; they were not happy with 15, not happy with 16, and they decided if it was up one more bar, “I’m out of here.” So a lot of the bears exited above that.
如果我在 14 号 K 线的收盘价卖出，我会担心 15 号和 16 号 K 线。我可能会在 16 号 K 线上方离场，这就是为什么 17 号 K 线看起来那样。许多空头都这样做了；他们对 15 号 K 线不满意，对 16 号 K 线也不满意，他们决定如果再涨一根 K 线，“我就出局了。”所以许多空头在 16 号 K 线上方离场。
As far as buying the 26 close, I talk about that at the time. I said, “If you’re buying up here, you really need a wide stop because this has the potential to be followed by a deep pullback and a trading range.” So if you’re buying above 26, either you get out below 27 or on the 29 close, the early exits. Or you have to use a really wide stop, like below 14. And that 24 was a magnet at the bottom of the most recent buy climax — 24, 25, 26 — and if we start going down, it’s probably going to go below the 24 close. So that’s the one place where you do not want to put your stop. Either you get out before then or you use a stop at the bottom of the bull leg, 14.
关于在 26 号 K 线的收盘价买入，我当时就谈到了这个问题。我说：“如果你在这里买入，你真的需要一个宽止损，因为这有可能被一个深度的回撤和交易区间所跟随。”所以如果你在 26 号 K 线上方买入，你要么在 27 号 K 线下方或 29 号 K 线的收盘价提前离场，要么你必须使用一个非常宽的止损，比如在 14 号 K 线下方。而 24 号 K 线是最近买入高潮的底部磁铁——24、25、26——如果我们开始下跌，价格很可能会跌破 24 号 K 线的收盘价。所以这是你不想放止损的一个地方。你要么在之前离场，要么在多头腿的底部，即 14 号 K 线处设置止损。
Focusing on risk only
只关注风险
So that’s my thought there. I understand when traders start out they only think one thing: Risk . “I don’t want to lose — I cannot lose much money,” and therefore, beginners tend to use tight stops. But they also are kind of torn. “Okay, Al keeps saying swing. I got to use a swing stop, but I want to use the smallest possible swing stop so that I’m not risking too much.” And the result is they end up using a skunk-type stop. An in-between stop. They don’t want to take the early exit, below 27. They want to give their trade time, but they don’t want to really risk all the way down here [below 14] because it’s just too much. And they end up getting out somewhere in the middle, which is around a 50 percent pullback. And that’s where strong bulls are starting to buy. And I said at the time, “Strong bulls will buy the 24 low and bears will take profits at the 24 low, so we’ll probably get at least a little bit of a bounce.”
所以这就是我的想法。我明白新手交易者一上脑子就只想着一件事：风险。‘我不想亏损——我不能亏太多钱。’因此，新手往往使用紧密止损。但他们又有点左右为难。‘好吧，Al一直在说波段。我得用波段止损，但我想用尽可能小的波段止损，这样我就不会冒太大的风险。’结果他们使用了一种臭鼬型止损——一种介于两者之间的止损。他们不想在27点下方就提前离场；他们想给交易一点时间，但又不想真的把风险一直放到14点下方，因为那太大了。于是他们最终在中间离场，大约在50%的回撤位置。而这时候，强势多头开始买入。我当时说，‘强势多头会在24低点买入，空头会在24低点获利了结，所以我们很可能至少会看到一点反弹。’
Out early or wide stop
提前离场或宽止损
I hope that’s clear. So you either have to decide that “I’m going to get out early and then if it keeps going up, I’ll buy again.” Or “I’m going to use that swing stop — which is really far away and I don’t want to use it, but that’s my choice. I’m either going to trade small enough so that I can use the swing stop and scale in lower. Or I’m going to get out early, like below 27 or on the 29 close.” And anything in between those two choices is, I think, a losing strategy.
我希望这很清楚。所以你要么决定“我要早点出场，如果价格继续上涨，我再买入。” 要么“我要使用那个波段止损——它离得很远，我不想用它，但这是我的选择。我要么交易得足够小，这样我就可以使用波段止损并在更低的位置加仓。要么我要早点出场，比如在27下方或29号K线收盘时。” 我认为，在这两种选择之间的任何做法都是一个失败的策略。
Question 2: I bought the close of 46 [that’s okay] stop below 45. [Okay.] I scaled in once more and I got stopped out on my stop loss. Should I have exited earlier? [Okay.]
问题2：我在46号K线的收盘价买入（这样可以），止损设在45号K线下方。（好的。）我又加仓了一次，但触发了我的止损被扫出。我应该更早离场吗？（好的。）
Another day, another skunk stop
又是一天，又是一个臭鼬型止损
Every now and then, I talk about a skunk exit, and that’s an example of a skunk exit, okay? You have a buy climax, okay, and there are going to be a whole bunch of stops below 46, below 45, right? So you know that if it starts going down, it’s going to get at least a tick below 46. However, you also know that there’ll be buyers down there as well. And then because we might be getting a test at the open of the day, there probably will be buyers at the open of the day. I bought at the open of the day. I bought a couple ticks above the open of the day for a scalp.
我经常提到臭鼬退出（skunk exit），这就是一个臭鼬退出的例子，明白吗？你遇到一个买方高潮，好吧，在46以下、45以下会有一大堆止损单，对吧？所以你知道，如果价格开始下跌，它至少会跌破46一跳。然而，你也知道，那里也会有买家。然后，因为我们可能会在开盘时进行测试，所以开盘时可能会有买家。我在开盘时买入了。我在开盘价上方几跳买入，进行短线交易。
Middle of two good choices
两种好选择之间的中间
So when I say a “skunk exit,” I’m talking about one in the middle of two good choices, and usually you get killed if you’re in the middle. So to me, the choices are — you can see what happened: 46 close; bulls did not like 47, they hated 48, and then look what happened 49, right? It went back above the 46 close and came back down. So that tells you that a lot of the Buy the Close bulls’ 46 were disappointed 48 and they got out on 49. And more and more bulls started to get out here. So to me, I’m either getting out below 48 or I’m getting out below 50 or 49, or I’m going to use a really wide stop down here [below 33].
所以当我说“臭鼬出场”时，我指的是介于两个好选择中间的一个，而你通常会在中间被套牢。所以对我来说，选择是——你可以看到发生了什么：46号K线收盘；多头不喜欢47号K线，他们讨厌48号K线，然后看看49号K线发生了什么，对吧？它回到了46号收盘价之上，然后又回落。这说明，许多在46号K线收盘时买入的多头在48号K线时感到失望，并在49号K线时离场。越来越多的多头开始在这里离场。所以对我来说，我要么在48号K线下方离场，要么在50号或49号K线下方离场，要么我会在这里（33号K线下方）使用一个非常宽的止损。
And what bulls do is they either get out here [B48] or they get out down here [below 33], and as it’s selling off they can be buying one, two, three points down. A lot of bulls don’t do that. Instead, they wait for a bull bar — 54 — and then they buy above the bull bar. And then they try to get out breakeven around their original entry. That’s what caused this big tail here [B60]. Or they just hold part or all to see if we get a swing up.
多头要么在这里离场 ［48号K线］，要么在这里离场 ［低于33点］。随着价格回落，他们可以在下方买入一两三点。很多多头并不会这么做。相反，他们会等待一根阳线 — — 54号K线 — — 然后在阳线上方买入。接着他们试图在原始入口附近持平离场。这就是这里出现大尾巴的原因 ［60号K线］。或者他们只是持有部分或全部仓位，看看是否能出现波段上行。
Understand what is going on
明白市场在发生什么
So back to your question, you buy that close [46] stop down here [below 45]. That’s the one place I would not put my stop. I would either get out below 48 or below 49, below 50. Or I would just use a wide stop down here [below 33] and wait for a bull bar and buy more above the bull bar. Hard to do, especially when you see a collapse like 53. But if you understand what’s going on, then it’s simply a test of the open in a trading range day, it’s easier to rely on the wide stop, okay?
回到你的问题，你在收盘价 [46] 买入，止损设在下方 [低于 45]。这是我唯一不会设置止损的位置。我要么在 48 以下、49 以下或 50 以下出场。要么我就在下方 [低于 33] 设置一个宽止损，等待阳线出现，然后在阳线上方加仓买入。这很难做到，尤其是当你看到像 53 这样的崩盘时。但如果你理解发生了什么，这只不过是交易区间日内对开盘价的测试，那么更容易依赖宽止损，明白吗？
Al Brooks
Al Brooks
Information on Al’s Online day trading room
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