《股票作手回忆录·第三章·初到纽约·对赌行的赢法为何失灵》第12节
Whenever I did try to limit the prices in order to minimize the disadvantages of trading at the market when the ticker lagged, I simply found that the market got away from me. This happened so often that I stopped trying. I can’t tell you how it came to take me so many years to learn that instead of placing piking bets on what the next few quotations were going to be, my game was to anticipate what was going to happen in a big way. After my May ninth mishap I plugged along, using a modified but still defective method. If I hadn’t made money some of the time I might have acquired market wisdom quicker. But I was making enough to enable me to live well. I liked friends and a good time. I was living down the Jersey Coast that summer, like hundreds of prosperous Wall Street men. My winnings were not quite enough to offset both my losses and my living expenses. I didn’t keep on trading the way I did through stubbornness. I simply wasn’t able to state my own problem to myself, and, of course, it was utterly hopeless to try to solve it. I harp on this topic so much to show what I had to go through before I got to where I could really make money. My old shotgun and BB shot could not do the work of a high-power repeating rifle against big game.
注释摘要
我们得先理解1900年代初纽约证券交易所里行情传递的技术限制，才能明白利弗莫尔在这段话里究竟在说什么。当时的交易信息全靠行情纸带机——也就是那个不停吐出窄纸条、上面印着一串串股票代码和价格的机器——来传递。交易所大厅里的每一笔成交都由人工记录，再通过电报线路发送到全国各地的经纪行，这个过程本身就有延迟。平日里延迟可能只是几秒钟，但在1901年5月9日那种恐…