Английский язык. Практический курс для решения бизнес-задач

This may be the most important commandment of all. Although the «highs» you can achieve when you are successfully trading commodities can be spectacular, you must always keep in mind that this is a serious business. And like many things in life, if you haven’t done it before you need someone to help show you the way. You need a guide. If you don’t understand how to read a chart or the proper terminology to use when placing trades, or what supply and demand factors may affect the currency or commodity being considered, then you should open an account with an experienced commodity broker. Although it will cost more, in the long run I believe you will save money. That’s because it takes time to learn how to trade. Most professional traders spend a fair amount of time in the school of hard knocks before succeeding. They need to live through both bull and bear markets to gain the proper perspective. Don’t kid yourself – experience counts. A good broker can help you greatly in your pursuit of profits. And if you get the right one, you can even «earn while you learn.»

What I’ve tried to do in this handbook is focus on the psychology and discipline of successful trading. Remember, if it was as simple as having a degree in economics, or knowing the implication of every known chart formation, there would be substantially more millionaire traders out there. Obviously, it takes more. I hope I’ve been able to help you to become a more successful commodity trader.

Source: Don Varden, www.tradeamerican.com

Essential Vocabulary

1. future n – зд. фьючерсный контракт

2. place stops – отдавать приказ «стоп»

3. stop loss order (SLO)

– приказ «остановить убытки»

4. position trade – позиционная торговля на срочных рынках

5. option premium – опционная премия (сумма, уплачиваемая покупателем за опционный контракт)

6. whipsaw n – «продольная пила»; возможность понести двойной убыток при покупке по наивысшей цене перед снижением и продаже по самой низкой цене перед повышением

whipsaw v – понести двойные убытки

7. trailing stop system – система скользящих приказов «стоп»

8. lock-in v – зафиксировать, законтрактовать

9. chart point – точки на графике

10. money management

– управление деньгами

11. contingent order – условный приказ

12. stop-limit order – приказ «стоп-лимит»

13. overtrade v – чрезмерная торговля (расширение продаж компании сверх имеющегося у нее оборотного капитала; чрезмерные покупки и продажи брокером для увеличения своих комиссионных доходов)

14. out-of-the-money option – опцион «без денег»

15. round-turn basis – комиссия за две стороны сделки; разовая комиссия брокеру при ликвидации срочной позиции; завершенная фьючерская операция

16. rally n – значительное повышение курса ценных бумаг или товарных цен после снижения, восстановление уровня экономической активности после спада

rally v – повышаться, восстанавливаться после спада или снижения

17. call option

– опцион «колл»

18. in-the-money option – опцион «в деньгах»

19.buy long – «длинная» покупка

20. stochastic a – стохастический (переменная величина, которая определяется случаем)

21. ADX (Average Directional Movement Index) line – линия ADX

22. contrary opinion – мнение, противоположное всеобщему

23. bear market – «рынок медведей»

Exercise 1. Answer the following questions.

1. Is there a foolproof system in commodity trading? 2. Why is it important to use stop loss orders? 3. What is the most common scenario for turning profits into losses? 4. Why is it necessary to be cool, calm and clearheaded in commodity trading? 5. How much do professional traders risk on a trade? 6. Why is it important not to place all your eggs in one basket? 7. Why is it risky to buy deep out of the money options? 8. How do pros regard trends? 9. How do pros identify the best trades? 10. What is the essence of contrary opinion? 11. Why is it better for amateurs to get an experienced commodity broker?

Exercise 2*. Find terms in the text that match definitions given below and make sentences of your own with each term.

1. a market distinguished by declining prices

2. a market distinguished by rising prices

3. an obligation to exchange a good or instrument at a set price on a future date

4. the purchase of a stock, commodity, or currency for investment or speculation.

5. the selling of a currency or instrument not owned by the seller

6. an order with restrictions on the maximum price to be paid or the minimum price to be received