Docstoc

Composite

Document Sample
Composite Powered By Docstoc
					Composite
The pain for you
From ancient times to today, from the Paleolithic to the Neolithic, from
Greece to Rome, from Asia to Europe and the United States, can see the
light of wisdom, invention, and of human progress and civilization are
built on top of the invention. There are countless great ancestors the
ancient wisdom of the invention, and now many people have created a
unique new invention.
If we use the philosophy of Lao Tzu to look at antiquity to the present
invention, if we use the I "the moral" in speaking of the
"Road" and "Learning" will antiquity to the present
invention to be classified, we can clearly will the ancient and all
inventions attributed to belong to a class of the invention, are
"learning" aspects of three-dimensional space that belong to
the invention of the visible matter, since the invention of the most
fundamental physical characteristics of matter is nothing but the whole
process of the invention is a class physical substance to the other
tangible material changes.
Therefore, we can say, from everlasting to today, human wisdom of all
human inventions and even restricted, without exception, I speak of
"learning" aspects of the invention that is not one case is
beyond "learning", reached the "Road "category. For
thousands of years of human activity confined to the invention is closely
related to survival and development of their physical substances, and for
the "Road" awareness and understanding always know the children
as a mask, it is unlikely that there is an invention beyond the
"learning" to achieve "Tao" of elevation.
However, this same pattern of the millennium has finally been broken in a
day.
Philosophy is the mother of all science.
What is the I's "Road?" "Road" is the tangible and
intangible material changes to the law of alternating materials. The
operating rules of the stock and futures are always visible in today and
tomorrow (future) changing the turn invisible, so you can say that
changes of the stock futures are "Drive" category.
I have understood the "Road" and "learning"
principles, we also have to "seek the Tao is." That is, when we
engage in scientific discovery, to research projects that we are the
"Tao" domain or part of "Learning" category, if the
are "Road" aspects of it, use it appropriate to study and grasp
the "Road "approach, if the are" learning "aspect, we
must use suitable for study and understanding of" learning
"approach.
First of all, because "learning" is to study all the visible
matter of general knowledge, so from a methodological perspective, we
have to grasp the "learning" the law, just consider the space
factor, focusing on the physical and material, you can use analytical
thinking, and with existing physical and material conditions.

Second, the "Road" is the study of all the visible matter and
invisible matter to change the law of alternating general. From the
methodological perspective, we must grasp the "Road," the law,
not only to consider spatial factors, but also the time factor, and
neither is dispensable. As the "Road" is based on the physical
and material to study and grasp the law of the future movement of
invisible matter, so we can not study and understanding of
"learning" is used when the laws of thinking.
Since the motion law of the invisible substance is unknown objective has
not yet occurred, is the scope of inaction. If we are wrong to use
analytical thinking to try to grasp the mystery that we call the law,
only 50% probability level, is tantamount to speculation.
?
?
Gann never open secret

You do not always spend too much time in the index, but must identify
each of these represent only the average stocks of the location and
status. Insurance industry to use the average rule, actuaries can
calculate the 1000 people of different ages, and can tell you how many of
them will die each year, but Jingsuan Shi impossible to project under the
average and tell you what each one When will death, because in fact
people who were born at different times with the same polymer with the
average birth rate. Stock index also by those 5, 10, 20, 30, 50, and 100
years of history composed of stocks of listed companies. Have a great
time on the establishment of different industrial localization in
different countries and territories, and Shou local impact of other
environmental conditions, some of them have to with the index trend Xing
Cheng Fan direction Yunxingjinjin yes Qi Zi Ran nature of reason.
Therefore, to obtain a reliable prediction, every company and its shares
have to be a separate analysis, separate judgments and projections rather
than from the overall up to do so. From those who walk the stock market
is far from eccentric, and firmly stick to live a good grasp of the stock
you can
Stock trading is suitable for those types of active and follow the rules
with a clear trend of the stocks. Those who take the stock market is
always very curious and those who do not follow the rules of equity, we
should let go of their own performances.
When you find a stock analysis did not like your run-time, please leave
it out of the transaction on it, but going to stick a good fit you can
take your stock. I can explain why, but it is not necessary, many of
which you may not believe this explanation.
Do you know why something happened or not happened is not much reason for
the difference. Just to let you experience the fact is that something you
are against you enough, you just need is out.

Know when to quit. When you change the trading trend is to know when you
have the means.
A person's life is like running in a loop, like stocks. He reached his
peak but he did not know. The end of his time to make money, and he lived
to save him more than he previously was more important to earn more.
A cyclical trend and seasonal cycle of mathematical science, a person can
determine the arrival time and scope, and so when it violates the law and
he expects the trend to the opposite direction of the reversal. For
everyone the most important thing is to know when to quit. Made money in
a person, he must know when is enough, when to stop and hold his own.

Seasonal trends of human change as the market just as good and bad
circulation. By your own records of transactions, you can determine when
your trend changes. I can 200 consecutive trades without a loss. If I did
not predict the market's way, how can I expect the trend has been to me a
reversal in the direction of the time and found some signs out and wait
for a decision? The most important is not the first transaction, to make
their own failures and loss ... ...

When the time trend away from you, hardcore meaningless, holding a little
with no luck. Recognition of losses and leave the market as soon as
possible. You will leave the market because of "make" to a sum
of money, and wait for you to market opportunities, so that the material
conditions of your good attitude is also good. Beat the market is an
intelligence war, your attitude should be positive, sharp, alert. You
have to learn to adjust quickly to change your mindset and behavior. When
your mind becomes sluggish, your quick and decisive actions will lose you
in the market will simply not survive.
?
?
Everything circles are learning ..
Is to make people stare disk, and then put up their own attention
Others to stare at every day disk, and then launched in the market time
to tell you. (More than 1% change in market price changes can be called)
So convenient for you to get attention.
If you stare disk, easy to receive the plate change, this is not
conducive to thinking and making decisions.
?
?
?
Financial management system thinking
Help investors build their own trading platform
Their own trading systems.
1: The transaction flow chart and notes.
2; financial management and response issues.
3: Index of top and bottom analysis.
4: top and bottom of the unit method.
5: compound interest trading system statistics. (To control the mentality
of short positions)
6: Signal distribution Trading System. (To control the waiting attitude
The overall process steps to establish a trading system: ¡º¡» clear basis
for the trading system;
A) Having the stock market nature, we should know the basis for the
establishment of trading systems;
B) the basis for the establishment of trading systems is: ¡ºoverall
uncertainty in the stock market's big game environment, to discover and
isolate the stock price movement uncertainty¡», that is, to establish
their own trading ¡ºscientific view and the right trading methodology¡» ;
The overall process of a trading system Step Two: Trading System ¡»¡º
structure;
A) To clear the purpose of trading systems: ¡ºovercome the weaknesses of
human nature, easy to apply what they learn¡»;
B) To clear the characteristics of trading systems: ¡º¡» integrity and
clarity;
C) and securities trading system with time the environment changes,
¡ºitself to be able to modify and adjust the parameters¡»;
D) Some basic subsystems trading system: ¡ºmarket judge, plate movements,
risk management, human Control Point;
The overall process of a trading system Step Three: Testing trading
systems ¡º¡»
A) test trading system include: ¡ºstatistical test, test and practical
test extrapolation¡»;
B) to consider the transaction costs;
C) to consider the size of the amount of funds caused Jiancang echo
effect;
D) to consider the small probability events (statistical fat tails) on
the trading system;
The overall process of a trading system Step Four: ¡º¡» execution trading
system;
A) to obey the daily operation of the subjective and objective,
¡ºtransaction based on the desire to eliminate¡»;
B) Simulation of action is indispensable, even if no deal is still that
she will carefully read the tape, carefully Replay, figured out long and
short main ideas, handling their brains more practice ¡»,¡º proper
knowledge and action to achieve the ultimate ¡»
System transaction, which according to a set of trading systems. System
time and energy traders mainly on the development of trading systems.
Securities market, for using trend-based strategy system trader, the
successful development of a trading system and the importance of the
weighting factor, may wish to design as follows: range, 10%; selling
points, 5%; selling point, 10%; stop-loss, 20%; fund management, 40%; on
system understanding, insight, strain and innovation, 15%. Shows that
fund management is the most important factor. Transactions in the system,
funds management in the following three levels:
(A) positions. That account, the stock market / (market value + stock
value + cash) * 100%. According to Dow Theory and the descendants of the
many statistics, approximately 75% of a market trend in stocks is a
highly positive correlation with the broader market. Thus, according to
broader market risk factors to determine the level positions, should be a
good healthy choice. For example, if the current tape is a 70% risk
factor, then the position should be 30%. Of course, the broader market
risk factor is very difficult to judge. Here are three recommended
methods, a form of Taiwan Mr. Zhang Songling scoring method, the various
factors affecting the broader market and gives weight to list, design a
form, the daily rate; one is a director of fund investment, "K Line
Gold Law "On the R28, Mr. Lok's law, that is, with the A share index
with the R28 control; The third is the simplest, is the current index of
a significant run in the recent cycle of location, application of the
principle is Zhouchao Guo Li Mr. Librarian I's extremes meet, the height
of anti-values can be based on historical statistics.
(B) of the combination. That is more than holding individual stocks only
when the occupation of how much money each individual stock. Here that
the combination with the CAPM, APT basically irrelevant. How much each
individual stock funds, depending on the trading system to determine
location of each individual stock. If both systems use several different
strategies are also on the objectives of each system is expected to
average annual rate of return. In addition, the same system is also given
the signal whether the new convertible stocks, but also the system should
take into account issues.
(C) above. That is the same only the trading of individual stocks
subparagraph. Based on the trend-based strategy system trader, generally
need to set up more than buying and selling point. For example, the
system set up with three possible buy point, each point of the bid should
be how much money, this is the content is money management. Of course,
the more the case, this issue also is selling points, selling point, stop
the scope of these elements.
Positions, combined, sub-three-level, in fact intertwined. For example,
when the broader market risk factors determine the increase to lower
positions, the combined and split often also affected. Ideally, the
system itself on all issues set clear rules, but because of restrictions
on the software platform is actually impossible. Funds for small
investors, about the use of manual methods of treatment daily, and
gradually establish their own set of methods, could also meet the basic
effect.
Of course, whether it is index formula, formula stock selection, trading
formula, or trading system, trading strategy from their lives. Stock
market trading strategy is based on the basic principles and operation of
non-random character and regularity of in-depth study of the formulation
of operational principles and the general idea. We often see a lot of big
money managers and Trader is not what formula to compile the reason they
succeed is because of the trading strategy of systematic and in-depth
grasp. Of course, if has good software, they have their own strategy into
the formula, and would save much time and effort (at this point, you have
to compile a number of indicators of actual combat operations, this is
excellent). But everything has pros and cons, too mechanical damage will
be insight, creativity and resilience
Trading System Ideas
----( 1), changes in market value from the historical Ushimata, price
changes, capital expansion, capital of interval analysis to find the main
force in the manufacture of what Ushimata.
----( 2), the speculators make money from the history of operating
frequency, asset change, what price to make money from stocks to hold
what price analysis; speculators lose money from the history of operating
frequency, asset change, lose money What price from holding stocks and to
what price, they lose money on stocks in the equity and performance
analysis of such a nature. In order to find the best operating frequency;
assets resistance; price resistance.
----( 3), through the large single analysis (this note in your trading
system for the full body surface); shareholders of data analysis;
turnover analysis; index of deviation from the center of gravity of the
broader market analysis. Find something for and selling points.
----( 4), the index deviate from the broader market focus and position
linear relationship between the degree of exploration, the creation of
index and position of the annual and quarterly equation equation.
----( 5), exclusive of individual stocks, especially stocks callback the
"timing, magnitude, volume" analysis of the characteristics of
air refueling, the establishment of the optimal number of stocks involved
in goal, the optimal commission Lots , and the optimal time interval
commission.
In short: the formation of a trading system in addition to the
characteristics of the market has a universal, but also everyone should
own character, for day trading (seconds - hours), short-term (hours and
days), middle (weeks and months) , long-term (months and years) of people
of different trading (which already includes the operation of personal
characteristics) should also be different for different markets
(equities, futures, options, spread trading, warrants, funds, bonds,
foreign exchange, etc.) in the trading system in the partial focus of all
children should be different, is the use of technical analysis system
parameters should be sufficient to do the adjustment. Trading strategy
should also be primary or secondary to clear the entire trading system.
Prior to the analysis of talk about trade policy, beginning from the
transaction, the transaction system is the ultimate must firmly grasp the
three points (one and two selling point selling points - only the
interests of the target point and the risk control points), resulting in
market uncertainty probability of winning by the way (truncated
Advantage) and obtain the total profit

Concerns (stock picking) - Trading signals (operation) - Financial
management and risk control (operations strategy) - hold cycle (operating
style)
Trading system is composed of various organic combination of the
independent transaction module, the basic module should include
investment selection of species, varieties with a transaction module,
signal module into the appearance, risk management module, position
adjustment module, rights tracking module. As the degree of mathematical
trading system and a high degree of automation, so the transaction
according to their objective and scientific are strong, it can
effectively avoid the transaction occurred in the course of human
weakness, but also through the management of funds and positions
adjustment, planning general trend of interest, to effectively control
trading risk and prevent the sharp-taking, so that traders could get a
more stable investment returns.

Development of trading systems course: Methods and trends of
consolidation of the organic combination of methods. Any tendency of the
method will not be used for correction of, otherwise the methods of
consolidation of the trend can not be used on. Any successful trading
system must integrate these two different periods of organic methods.

The ideal system:
1. Profit and loss probability: 40%: 60%. (That is, the number of wins /
total number of transactions: the number of losses / total transactions)
2. Each time the amount of profit and loss ratio: 3:1 (that is, the
aggregate amount of win divided by the number of wins: losses, the number
of losses divided by the total amount)
3. Expectations of bigger is better: 40% X3-60X1 = 1.2-0.6 = 0.6 (that
is, the money earned by the average time per transaction)
4. Sought in a variety of different trends in how much can earn some
money, do not use a large profit is not burned by the system.

5, the bid price after the monthly report, quarterly reports, annual
report
Technical evaluation conditions -
Quote Analysis: long, medium and short styles (time) using the tool index
Stock Status: long / short, the operation cycle, increasing to lighten up
strategy
Fund size, position management,
Evaluation of historical data - without regard to future market trends,
evaluation of historical data only the results - the success rate / yield
Analysis of the data evaluation - 10 days if the stock is rising
continuously evaluating the results.
1: the core mentality.
Not raised in the trading system of tradable shares each period, the
mentality of how to put right, and be OK with the heart one, is the
trading system can play a primary condition for the system transactions.
If you, a good trading system, but the mentality Jizao, short positions,
or as those who can not tolerate continued soaring, but do not know how
to control the risks it is reasonable and forced intervention, then, from
the trading system as a control, leading to the failure, the procedures
can not be attributed to trading system failure, failure is a state of
mind led to trading losses. Therefore, even that attitude is the most
important decisions of the trading system's success.
2: core gains and losses.
Funds from different, have different gains and losses. If 1 million and 3
million years to double its trading order is the same, but to master one
million individuals, it will reduce earnings target to 50% in its
earnings more than double the number of 30,000, the psychological demands
and technology requirements will be substantially reduced. Therefore,
different trading systems has led to the system.
System properties, 100 million is likely to value individual midline
trading system, 30 000 individuals is likely to value short-term trading
3: the core technology.
Profit model on three kinds of market, oversold bounce, throw buy low,
sell high, a strong recovery high.
1 "oversold bounce, super, super to what extent will the contrary?
Shells, bombs will fall to what extent?
2 "throw buy low, sell high, high, high high to what extent? Low,
low and to what extent the low? Smoking, smoking is one or many?
3 "strong recovery of high, strong, and what time to catch up, what
time can not recover? Chase, to what extent can high catch?
Oversold bounce
Oversold bounce
Different people have different analytical basis points, then the
definition of the super, you can use historical statistics to achieve.
For example, the high point down more than 60%, and in shape, volume of
distribution and other technologies, are an appropriate, then, the super,
that is certainly anti-definition. Historical Statistics of the very high
success rate should actually be if, or low, then this is not over.
Buy low, sell high throw,
Even that from the form, it should be the product of a channel to achieve
channel on track, throw, next to the access track, buy low, sell (in your
system has to use Bollinger Bands to operate, but must be analyzed What
are the trends in the state, if the trend in consolidation is among a
very viable technical indicators, but if a significant increase or
decrease in the trend of being, then using the trend line and channel
line is a wise choice - - of course, also applies in the order trend, so
avoid using Boolean lines swing index issued by the fuzzy or error
signal). Channel is always under the rail line in K under the small
probability of the above, the signal should be bargain-hunting system.
Channel is always on the rail line in K above, the small probability
under the roof system, the signal should be escaped. - And Bollinger
Bands with the same song different in essence.
Strong chase high
When the index when the formation of secondary market only chasing high,
this is relatively safe. You can also chase down the channel, but that
depends on the history of statistics, in fact, a strong high recovery
operation is not rational approach. Period of high stock selection in the
chase, certainly in the hands of funds, and the prices rising, these
funds Ta Kong, then, if the above two kinds of trading systems, does not
exist Ta Kong. There is only speed difference.
4: control center
Period in the trading system in the signal, because the inevitable
uncertainty, we need funds management to the uncertainty (even as risk)
reduced the maximum controllable level, this is not the content of
technical trading systems. Suppose, an 70% success rate of technical
trading systems, if the added money management, you can upgrade to 80%,
then the success rate of technical trading systems is 80%, not 70%.
5: Follow-
Signals in the trading system in the period, and transactions involved.
Whether the market outlook trend tracking system may change the city, if
it exists, that only win once. Therefore, a good trading system should
have a complementary positive trend tracking system to determine the end
of the trend, so, let your profits run.
6: core short positions
Period when the trading system did not signal whether the short position
needed to achieve the psychological quality, the success of this trading
system is a major issue.

Basic evaluation conditions -
Valuation, price-earnings ratio compared with the plate, the average
price-earnings ratio compared with the stock assessment.
(Plate average price - stock price) * speculative coefficient =
investment income / risk

Systems trading platform - the first trading model to determine the
trading principles, into the appearance of the signal determined the
proportion of funds, risk control principles
Transaction model parameters and the use of indicators variables,
investors operating cycle and Style
Transaction model optimization is divided into:
1. Transaction model parameter optimization: one is centered around the
original parameters of the fine-tuning is a wide range of jump search.
2. Trading model to adjust the trading rules: Trading Model changes in
trading rules and change the variables, the model aims to improve trade
performance, rather than re-design of the new trading model.
1, the basic requirements for optimizing trading model is a simulation
and optimization of period can not overlap, otherwise the transaction
model can not be adaptive and stability, reducing the transaction the
model.
2, simulation testing and optimization, the transaction model into the
actual testing phase. Simulation test and the significant difference
between the actual test the psychological pressure, which is the
difference between analysts and investors.
When profit is not generated profits of shaken confidence, this model can
not reflect the transaction consistency and objectivity, not the
transaction results to the stability and non-comparability.
Resulting in a loss model, when no doubt, check the transaction records
and transaction model for design,
Transaction model assessment project generally include: net profit, rate
of return, the total number of transactions, the number of profit and
loss ratio, standard deviation / standard from the slip, the callback
rate of return, risk indicators in seven areas - the overall financial
risk returns, single transaction risk return.
Concentration 10 times earnings is concentrated in the trading profits of
which 2 with a chance!
Have more than 30 times the number of transactions, transactions can be
shown that the model of stability.

Trading system on an important part in the trading system is built to
search parameters, so as to determine the actual transaction value of
system parameters used. System parameter values there are a variety of
search methods, but the commonly used two major categories, namely, the
purely data-based search methods and the pure market-based search.

The benefits of the introduction of risk indicators is not the proceeds
of the transaction distribution model make any assumptions, we can gain
on the transaction model and compare the tape! ! And the broader market
as the 100% 150% 80% weaker than the market is stronger than the market.
Loss is another standard! ! !
a, the longer the test covers, the higher the credibility test. Trend can
be defined using different test
b, test whether the commissions deducted from profits. Otherwise, you may
be working for the securities companies. This is a system for frequent
trading is particularly important.
c, test whether the price of the transaction slip (slippage) is deducted
from the profit, plans price and the actual purchase price.
The stability of a trading system metrics include: the success rate, net
profit, total losses, gains and losses forced liquidation, compulsory
liquidation amount in the total number of transactions, average number of
transactions, the number of profitable transactions, loss transactions,
single the maximum amount of profit, the biggest single loss, the average
profit per trade on profits, loss of the average transaction amount of
each loss, the average holding time of trading profits, loss of trading
average hold time, average yield per transaction, the largest floating
loss The average net income each other.

1, technical analysis trading model,
2, the basic analysis of trading models
3, mathematical model of measured transactions.
Asset management platform
Capital management is an important part of trading systems, essentially
the size of the system determine that part of your positions. It
confirmed that the system how many transactions you can get profits, how
much risk to bear. The role of financial management positions is through
the appropriate adjustment and capital management to enable effective
analysis of the system for their own services.
Capital management.
1, a fixed amount for each unit. This model only allows you to use a
certain amount of money to buy a position, it is basically on equal
treatment for all investments in and always allow you to hold a position.
2, such as cell model. The model portfolio of all investments are based
on the fundamental value of their giving the same weight.
3, the percentage of risk models: capital adjustment of its law is based
on a risk-based capital as a percentage basis. The same for all
transactions level of risk, and allow a stable portfolio growth. The
model suitable for long-term trend tracker is the best.
4, the percentage of volatility models: the risks and opportunities to
provide a reasonable balance between. This model is suitable for use
close stops trading.
The use of funds ratio is the process of trading positions and market
information according to an account the ratio of the decision position.
When establishing the initial position of 20% of the funds admission,
when earnings have reached the price range of 5% jiacang 10% of the
capital, when the earnings to price volatility 10% jiacang 5% of the
capital, when the volatility of earnings to price 15%, 50% closed
position, if the price taking 2% of all positions to leave.
Risk control principles, is the whole account and a single exchange that
would allow the rules to bear risk. For example, the single transaction
account deficit can not exceed the total interest rate of 4% of the
overall account of the cumulative risk of loss can not exceed the highest
point of interest in taking a 20% increase, then we must deal from a
position on the rules of procedure volume and range of the stop design.

Funds to thousands of parts breakdown, when the price movement of a
movement consistent with the rules, we give a money match this rule, many
opposing the direction of movement in the cumulative hedging rules, the
size of the final position can be synthesized. When the market increases,
the rise of multi-line rules, the matching funds will increase, thus
improving the fitness market with funds. The allocation of funds is no
longer subjective set, but after the results of numerous mathematical
model

Asset management program evaluation platform -
The concept of asset management evaluation system,

Evaluation rules

1. The distribution of funds: In theory, investment should generally be
limited to 50% of all funds (who is more conservative 30%).
2. Portfolio: such a popular practice that is not to put eggs in one
basket.
3. Stop: stop do not make money there is a more effective way of loss.
Profitability of sales of different models of the program,
Asset management program evaluation data, historical Quotes
Prior fund management rules, violation of the rules of operating software
to prompt the user to resolve emotional control! ! !

Quotes nature -
For example:
1, unilateral concept of positions up 100%
2, shock market philosophy positions
Defined criteria: the market index (market volume can) on top of position
indicator ¡Á ¡Á ¡Á (percentage)%
Market index (market volume of energy) ¡Á ¡Á ¡Á under the position
indicator (ratio)%
¡Á ¡Á ¡Á million fund size, sub-warehouse strategy: - the number of
shares
Positions - (the number of single-stock positions)
Jiacang conditions:
1, the percentage of jiacang profit, shares rose 5% jiacang 10%, 10%
jiacang shares rose 5%, shares rose 5%, 15% jiacang
2, profit% jiacang points (current prices, 5 day MA ,¡£¡£¡£)

Jiacang frequency (the number   of purchase) and the ratio of
Percentage of time the amount   of code the price gain or loss transaction
costs
1
2
3
4
Total:
Selling conditions -
Number sold:
Percentage of time the amount   of code the price gain or loss transaction
costs
1
2
3
4
Total:
Buying operations - Executive   - History evaluation
Selling operation - Executive   - History evaluation

Different operating under different market strategy - the classification
of large-cap stocks - when it is hot hot stocks (market speculation)
shocks are blue chip, (the value of investment) ratio in different
positions in different profitable results! ! !


Point to factors
Logical rules within the system is pre-determined
The rules of operating results under the same conditions are the same
only
Issued orders based on the condition that the objective and the
inevitable happened
Instructions issued based on current conditions, rather than after the
conditions
Instruction can not be changed after the issue of
Between the rules of strict rationality Article
The rules do not conflict and ultimately lead to uniform results
There is time to determine the completeness of the rules of the market
Have the opportunity to determine the rules of city
Have to determine the size of the rule position
Have to determine the rules change positions
A stop and only win of the rules
With the proportion of funds used to determine the rules
A combination of centralized trading or trading rules
There should change the rules of the market trading rules
Have rules to respond to emergencies
Account the overall risk of having control rules
Each transaction, determine the timing of transactions and financial
management rules used one correspondence
Exist in the market to meet the operational requirements of trading
products
Meet the trading market of the laws and regulations
Transmission and instructions on the market requirements in terms of
communication technology can be realized in
Clear and unambiguous orders
No transactions directly under the orders of judge again
Orders can be executed in the market
Instructions issued by the conditions under which an objective and
inevitable
The conditions under which instruction is given to quantify
At least to complete a full transaction cycle
Homogeneous universal fit different markets
Different varieties for the same market
Varieties suitable for different time periods with
?
?
Single-species model of the distribution of funds
Single-species model of the distribution of funds
First, AHP is used for target layer




This hierarchical structure is distributive AHP.
Second, trade measures in question, only the long and short sides to
participate in competition and set their strategies are limited by the
other party happens to be the loss of income.
We have established long and short under the following three elements -
characteristic factor, energy factor, the rate factor matrix game between
the long and short measures, analysis of different characteristics of
each factor, power factor, the acceleration of games under the long and
short decision-making situation, made the most of a mixed optimum
solutions.
Set: the state sets characteristic factor A = (,, ... ...,);
Energy factor of the state set is B = (,, ... ...,);
Rate factor of the state set is C = (,, ... ...,)
(Note: The characteristic factor, energy factor, the rate factors were
sample survey data)
When the characteristic factor for the (financial distribution
coefficient) is:
Multi-set of the corresponding capital allocation decisions for the D =
(,, ... ...,)
Air side of funding allocation decisions accordingly set as S = (,, ...
...,)
The situation is the set of pure F = (,)? (I = 1, ..., m; j = 1, ..., n)
Payment function = f (,)

Table 1 characteristic factor for the circumstances, the long and short
form Game Theory
(Example, do not represent real terms)




Power factor and speed factor method can do the same analogy.
In the matrix game, the payoff matrix lists the possible payment of the
situation, and now the price of each node on a hedging strategy at this
time to determine the optimal mixed strategy is called. Because the
number of larger strategy needed to solve the linear programming method.
General, if D = (,, ... ...,), S = (,, ... ...,), payoff matrix F =
known, then the countermeasures G = (D, S, F) of the linear programming
problem:




In determining the elements of the decision-making contribution to the
overall goal
The overall objective of decision-making element relative to the
importance of the weight information can be expressed as multi-objective
decision making problem is the uncertainty of information, and therefore
need to determine the weight vector, we can use features of the root
method.
Set W = (, ...,) is obtained by the n order to judge the weight vector
matrix. When the matrix A is consistent, A should be




The matrix of rank 1, to meet the AW = nW
N is the largest eigenvalue A, W is the characteristic value of n A's are
the eigenvectors, A values of the other features are zero. For the
comparison matrix A, is generally inconsistent, but it is a positive
matrix, we use the maximum eigenvalue A corresponding feature vectors,
that satisfy the AW = W of the feature vector W as the approximate weight
vector.
How the biggest vector of positive matrices, need to power method, can
eventually be sorted vector and the largest eigenvalue. As is the
distribution of AHP, when the introduction of new elements, the possible
reversal.
And fourth, the sensitivity analysis of parametric programming
?
?
?

				
DOCUMENT INFO