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"Shanghai Securities News": (Hao Xuguang) Why does the market always seem to have trouble with itself


Release time: 2015-11-13 Number of views: 8550_8609 times Editor: Editor: Zhu Xinyi

Hao Xuguang: Why does the market always seem to have a hard time with me

——Stock Investment Psychology Series Four

(Source: "Shanghai Securities News"2015-11-11

The stock market illusion will amplify people's weaknesses and deviations: too lazy to think, excessive greed, fear of shortfalls, and overconfidence. Being overly optimistic to the point of "diverging from ideas and actions", "chasing the rise and killing the fall, buying high and selling low", "blindly diversifying risks", "blindly doing thingsT+0", "frequent operations and getting slapped on both sides."

BelieveSmall and medium investorsEveryone has had this experience: faced with two alternative stocksAB, hesitant. Once you make up your mind to buyA, resultAFall,BIncrease; prepareSellTwo stocks in handCD, but couldn’t decide, so soldC, resultCContinue to rise,DBut w88 login is falling. When you are worrying about whether to buy a stock today or tomorrow, you decide to buy w88 login today, but w88 login falls the next day; and when you decide to buy w88 login tomorrow, w88 login rises again tomorrow. In addition, when investors sell their holdings of stocks that are recognized by everyone as weak stocks and exchange them for stocks that are recognized by everyone as strong stocks, the stocks they sold start to rise, and the stocks they bought start to fall. seemsMarketI always have trouble with myself.

w88 login is normal to encounter this dilemma when you first start investing. But if w88 login continues to be like this after several years, that's not normal. This shows no progress. Why? The biggest reason is laziness, too lazy to think and improve. The specific manifestations are "divergence between ideas and actions", "chasing the rise and killing the fall, buying high and selling low", "blindly diversifying risks", "blindly doing thingsT+0", "scripted, dogmatic", "trading arbitrariness", "frequent operations and both sides being slapped", "blindly placing orders during call auctions", "cannot short positions, operate every day" and other aspects.

Some people talk about being long-term, but they prefer to operate based on short-term technical indicators. They say they choose stocks based on fundamentals, but they study pressure and support levels every day. Some people also have a characteristic: they are more truthful when they shouldn’t be truthful, but they are not so truthful when they should be.

When the market starts to fall after reaching a high point, some investors blindly believe that "w88 login's hard to buy a bull's head back", regardless of the nature of the market, and they think they are rushing to rebound. If w88 login continues to fall and continue to grab, I don’t know where the courage comes from. The more you grab, the lower you fall, and the further you fall, the more you grab. Just like back then"5·30" After that, the market continued to fall, and finally the market fell so fear filled the market, "Let's cut the meat." As a result, after "cutting the meat", the market immediately began to rebound.

6month15Sunday7month3Day,Shanghai Composite IndexDown nearly29%, the total market value has evaporated nearly25Trillion. Even after regulators announced a bailout,7month6Although the market rose today, w88 login was a big negative line.7month7On the day of 14370_14381|, thousands of stocks fell to their limit.7month8The Shanghai Stock Index continues to fall sharply,Two citiesOnly7One stock rose, another1400Many stocks were suspended from trading, and thousands of stocks went from the opening limit to the closing limit. During this period, many small and medium-sized investors thought wishfully that a rebound could happen at any time and have been rushing to rebound. As a result, grab once and trap once. Many people couldn't stand w88 login any longer and began to cut their losses to stop their losses. And7month910Before 14891_14953|point, the market began to stabilize and rebound. Many stocks showed huge buying orders. From the lower limit to the higher limit, the Shanghai Index showed a long-lost positive line. Those who failed to survive the time fell before the market recovered.

Many small and medium-sized investors not only cut their flesh at the bottom, but also often stand guard at the top of the mountain. For example,2007year10month166124Point, many people entered the market at this point.2000In the Internet stock market around the Spring Festival, there are many124I bought Tsinghua Unigroup at a high price of 15671_15692|yuan, but I still can’t get rid of w88 login.

Some small and medium-sized investors like to cast a net everywhere, euphemistically calling w88 login "risk diversification."10Ten thousand funds, actually10Only stocks. On the surface, w88 login looks like diversifying risks, but in fact, I feel unsure; I don’t know what to buy. By then, w88 login will be too late to run. This is obviously the result of lack of confidence and lack of effort.

The operating habits of some small and medium-sized investors are: run if you are in a shallow position, run if you win in a shallow position, and lie down if you are in a deep position. Once you are free, run immediately. Different investors have different problems. For example, new investors like to chase the highs and often bet on the top of the mountain; old investors like to buy the bottoms, often halfway up the mountain; experts like to increase leverage, but often get liquidated; value investors like to carry full positions until they can no longer carry them, and start to stop losses, and then cut to the floor.

If a stock has been trapped, whether w88 login should cover the position, cut the loss and stop the loss, or lie down depends on whether w88 login can rise. If w88 login can go up, why?T+0(Sold today)? Why not lie down or cover your position? If the downward trend is obvious, why sit still? Why not stop the loss and get out? Even in a bull market, you should look for other stocks that are more likely to rise than the trapped stock instead of just focusing on the trapped stock. However, once some investors are trapped after buying a certain stock, they will stare at w88 login and do w88 login every day regardless of the situationT+0Trying to spread the cost.

Many small and medium-sized investors have read some investment books. The books say that they must learn to stop losses and dare to chase highs, so they execute them mechanically during actual operations. As everyone knows, stop loss is conditional: an obvious downward channel has been formed, and w88 login is in a downward trend. Chasing high is also conditional: w88 login has started, and the rising channel is clear. Some small and medium-sized investors rushed to rebound one day, only to realize their mistake the next day and decisively cut their losses. After selling, I found that w88 login had fallen a lot again, much lower than the selling price. Then grab the rebound. After buying, you find that w88 login is still falling, and then sell. Others operate in the opposite direction, selling profitable stocks, and after selling them, they find that they continue to rise, so they can't help but buy them back at a high price. I sold w88 login again after making a slight profit. After selling, the stock price continued to rise, but I couldn't help but buy w88 login back at a higher price. Tossing back and forth increases the cost of holding positions and disturbs one's mentality. Some small and medium-sized investors have suffered from both sides due to frequent operations. After buying a stock, they find that w88 login starts to fall, after selling w88 login, they find that w88 login is still rising, and after buying w88 login back, they find that w88 login starts to fall again.

In order to buy a favorite stock, some small and medium-sized investors like to bid at a price lower than the closing price the day before during the opening call auction every day1%If you want to sell a certain stock, place w88 login at a high price2%. The result is often because of low12If you don’t buy big bull stocks for a penny, they are often high12The stocks that should be sold were not sold for a penny.

In view of the particularity of "bullish short and bearish long" in the Shanghai and Shenzhen stock markets, there is no operational value for a long period of time. But one of the most prominent characteristics of many small and medium-sized investors is that they cannot take short positions and operate every day. Under the influence of the illusion of the stock market, this amplifies one's own weaknesses and deviations: too lazy to think; excessive greed, fear of shortfall, and overconfidence. Overly optimistic.

Attached original text link:http://money.163.com/15/1111/01/B83T2SQ700253B0H.html



 
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