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Zhang bitford programmed trading has changed my life fate

chapter b cashback forexford: futures programmed trading master Jiangxi, early in Fujian, now living in Zhejiang screen name forexcashbackprofitcalculator am a legend, CCTV securities information channel "futures time" futures weapon spectrum live d cashback forex profit calculatorplay account leaning sword builder teenager because of family poverty, dropped out of school in the second semester of the first year, after more than a year of ceramic work to do hairdresser, after 12 years of time After 12 years of hard work, he started with nothing and grew from an ordinary barber to the owner of 38 directly operated chain hairdressers in 2003 and started to contact stock investment, and participated in futures trading at the end of 2009. The main reason I lost money: the first is full trading; the second is a single species; the third is manual trading; the fourth is no reliable historical data losing money is not a bad thing, as long as the correct face it can be summed up experience, it must be a good thing the main reason I make money: the first is money management; the second is homeopathic trading; the third is a combination of multi-species, multi-strategy, multi-period The fourth is the implementation of my trading inside I only look at two points, the first is the maximum retracement, the second is the total profit divided by the total loss, as two important indicators of consideration I usually use is the cycle breakthrough, the average crossover, volatility characteristics of these as a program of a major idea I think only the firm implementation of the strategy to run perfectly only you firmly implement, cashbackforexprofitcalculator we such a strategy, your I think cashbackforexpipcalculator is a very important point that I have done, I can let me survive a very important point, is that when there are profits, I take the market profits to bet (selection of commodity standards) to find the whole market inside the volume, that is, the most active amount of turnover, and volatility of the largest we are doing programmed biggest An enemy, I think many people will know is the slippage so we do programmed trading must draw a curve, the curve can explain the problem our personal perception, it is objective, it can not say we must be right or wrong, but the curve is drawn, it is the fact that in my money management is if the capital retracted 15%, I must take a conservative approach to do I very much follow a saying I think we should study the money curve carefully, because it is the most realistic program traders prerequisites: first, I think I must be proficient in writing the program; second, I think the program trader must have a detailed live data; third is to plan the transaction and execute the plan; fourth I think in the process of writing the program must be to simplify the complexity; fifth refinement control, detail, refinement of this (writing program) is necessary to be proficient in their own, otherwise, so that others can never write what you want, or find your own soul your capital curve represents all your trading behavior capital retraction my maximum tolerance range is 30%, if the loss of 30% I This master account must be stopped for six months without trading, this is my principle you only continue to absorb the things of others, then you can go to a step up your logic is simple, is streamlined, but you control the statement must be fine loss of their own think loss of money, earn their own money to understand the investment portfolio is one of the biggest advantage is that the winnings are additive, the losses are mutually offsetting I concluded I think that in the end, it may still be the most stable strategy to increase positions, how the market is cruel again, using a strategy to increase positions, it is not possible to lose too much chapter bit of the blessing: good afternoon to everyone, today to speak this lesson is very stressful, there are several people here used to be my teacher, our teacher Li Kai, today to see you really is more pressure and our teacher Zhang, are indispensable to me in the past to learn the programmed road above I feel that the help I have is really quite large I also do not have the words of the crepe, I may say relatively vulgar, that speaks not much truth, but I follow a is true, is to speak of my process, so that the words may be better first do a little self-introduction, I am from the largest village in China, called rural, 14 years old debut, because reading the first semester of junior high school, after reading a semester After the next semester on tuition fees do not know where, 14 years old came out 15 years old in the factory to work, to 17 years old began to choose to do hairdressing, do a shaver, then think anyway is no way out, only do hairdressing to 18 years old to learn a year time, I think or engage in a store, they spent 8,000 yuan to engage in a small store, after the end in their own do that I am a person relatively identified a direction After, will continue to plan the past, from 18 years old until this year, is also considered early 30, is 30 years old, 12 years, that hairdressing, from 8,000 yuan, from the first month 836 yuan performance, a month of performance to do 836, to this year, we have 38 branches probably this year, our budget, about the annual revenue will be in about 42 million, last year was More than 20 million, which is equivalent to our growth of 60 to 70 percent of the way this is one of my industry above, of course, I do not do investment is also not full-time in doing, is also part-time, so todays words, you speak bad, more bear with me do investment is this way, I was doing stocks, that do stocks is very amateur in doing, is to buy in not to see, bought a Ping An of China, from 116 Ive been buying from 116 yuan, buy to 60 several yuan still buying, the average price in 68 yuan, and finally all the way down to 19 yuan 8, is such a situation later contacted the programmed, is in 09 years when contacted the programmed   since the programmed, my life fate has changed next we speak from 09 years, this is a posting Im doing, this is the first account, the deposit of 50,000 yuan. Deposit 50,000 yuan, the first day of work to 35,000, the first day of data did not, so from 35,000 to start making records, a day of loss of 15,000 yuan, why? It is because of the Mandarin one, with the Mandarin I started full positions, because the Mandarin has a command called test, a test of any model into, are a curve, so straight ah, think is to find the holy grail, and began to fierce position dry, the first day of loss, after the loss began to reflect on the summary finally ran to the Mandarin company to learn, to take a training course, after learning a week began to do manually, at that time I still cant use the program, summed up to achieve the maximum loss is 22%, then I think it seems not ah, I summed up, this post should be in the Mandarin forum or looking for that time I am insisting on posting, because it is to find the problem, I summed up, lose money I think the main reason is what? At that time, I wrote on the forum that I had about two months to go before I wrote my goal, and I said my goal was to make a 30% gain before the Chinese New Year, so I was too blind. The second is the single variety, at that time only doing rebar; the third is manual trading, because at that time the program automation really cant write, then how to do? But in the extreme market process, it was too late to open and close the position after you saw the price, and then you went to hang a single, fill a single, and buy. The fourth is no reliable historical data, only do manual statistics, late to know the error is very large, at that time the passion is quite good, with manual in doing, a thick book, basically all statistics from the SSE 300 statistics, and then began to statistics futures, what is my deep impression at that time? The stock is such an idea, up 5% I bought it in, when it used the trailing stop, down 5% I sold it, this idea let me go to the programmed this road to, at that time is I find my nephew, I calculate his record, from the beginning of the calculation in 1992, has been calculated over, feel good earnings, that later learned that this is still inside I did not add the error, that is, the slippage did not add, the commission did not add, and one is the intra-day fluctuations of this block of high and low points did not add, the equivalent is the program inside the future function so I summed up these four points on my second trading account to help quite a lot, out of the previous kind of very blind optimism, full of psychological trading have this experience I think quite good, losing money is not a bad thing, as long as the correct face it can sum up the experience To, that must be a good thing This curve is not very beautiful, from May 2010 to yesterdays data can see that this section is very badly done, but I maintain a realistic, here today is not to bring much method to you, I think there is my summary of a failure of experience overall or profit, I summarized the main reason for making money, the first is I think if an account we want to account to make a profit, I think capital management should be in the first place; the second is to trade with the trend; the third is a combination of multi-species, multi-strategy, multi-period; the fourth is the implementation of the process from the beginning to I think the main factors to make money that what is capital management? That is, in my trading I only look at two points, the first is the maximum retracement, the second is the total win divided by the total loss, as two important indicators to consider the maximum retracement can be seen in this section of the maximum retracement is how much, from this position to this position, the maximum retracement is 22%, just reached in this position the second is the trend trading, that is now doing words is equivalent to the trend occurred I usually use the cycle breakout, average crossover, volatility characteristics of these as a program of a major idea of the third word is multi-species, multi-strategy, multi-cycle a combination, that its main role is to be able to smooth the capital curve, improve the use rate of a capital fourth is 100% of the implementation, I think only the firm implementation of the strategy to run perfectly many people is in the The implementation of the process is prone to a problem is not to implement today, tomorrow not to implement, this easy to appear a problem is what? It may be that a loss of money you feel fear, you may stop a day, when you stop a day later, you feel sure that the day did let you lose less but often this happens, prone to a what situation? The big market may not be able to catch although afterwards you see that the signal is issued, but it seems to have no relationship with your real account In the process of my implementation, I have an example from this side to here, it is equivalent to this position, the first about me only two to three times is not 100% implementation, the back are 100% implementation is the plate I never go to intervene in it, why Why? Because a very deep impression of this position in front of this, that time the stock index is still quite good to do after the opening in, began to fluctuate, fluctuate a lot, to rise, that I am doing more, see the money, that time staring at the profit and loss data heart will jump up after a while and down, where to hit it? Hit my cost price, quickly down again, hit where? I was thinking at that time, luckily, luckily did not hit the stop loss, up, up after earning a little bit, my cost price earned a little bit then I was very torn in my heart, I wanted to not flat, if I went down I now flat I earned at that time a ruthlessness on the flat, flat after the subsequent things happened what happened? It is the price fluctuation of two, okay, down, and then shoo all of a sudden a big rise, which is equivalent to the creation of a what? The program is a lot of money, in fact, that day I did not make money that gave me a major introspection is that I can no longer do such stupid things at that time I have a habit of posting pictures every day, posted in where? I swore on that forum post that from now on I would never do anything stupid like that again, because with that vow, I basically did not encounter manual intervention, but this is the first lesson the second time, there was also a manual intervention, about this position, of course, the manual intervention reason I think is very normal, is that I set a goal for myself, I said when my I said when my account has a profit, this big account has a profit of 4 million, give myself a small reward after the end of the day just after, reached 4 million profit, at that time I thought, should we level it? If I didnt, I lost the reward, and then I was torn for half a day, and I said, "Okay, lets level it today," and I asked my assistant to tell me to level it, and then I made a few hundred thousand less, and then I lost it. A little when the heart will jump, a little loss of the heart will jump, then I think to do programmed may not be a good thing, so we must eventually do a 100% implementation of the strategy only you firmly implement, that we such a strategy, your history of testing to count, that is to say, your signal can become your real account inside the money and one I think is the market with, I think from May 2010 to the present I think from May 2010 to the current profit, I think it is not that my strategy is much better, the most critical is probably my better luck, choose to do this species, in other words, this species it still has a certain market then this situation, we can only say that there is a market we will make money, no market that we admit loss chant, is such an understanding so I summed up we have five points first is the capital The second point is the trend strategy; the third point is the multi-species, multi-strategy, multi-cycle combination; and a 100% implementation; and finally the market situation with Although this curve from A to B is profitable, but the process is actually quite arduous, walking is a hurdle, step by step I focus on my analysis of the various stages of this curve which for me, I often take out to review, to review themselves. To review themselves, which do the right place and wrong place this is my first stage, there is a shadow from this side from this position, from A to B this position, is my first stage, this stage is a kind of characteristics? The single strategy single species, heavy trading, homeopathic trading from this position I was 200,000 to start doing, to earn 40,000, 50,000 yuan I added a capital, so step by step to do up, equivalent to 200,000 a hand, then the stock index is still relatively high, fluctuating a little more, but still follow a homeopathic trading concept at that time should be said that the stock index is still very good to do, may do the people on the I know that this stage gave me a major inspiration is what? Because I am doing the first stage, easy to have a problem is that you work hard to do a little profit, but touch a big shock process and your profits immediately knocked out and your defense is very bad, easy to big ups and downs that I do in the second stage of a thinking what is it? I added a multi-strategy, from a strategy I found a way to increase it to two strategies at that time or only do stock index but then because the amount of money a little larger, began to do profit plus code profit plus code I think this is a very important point I do, can let me survive a very important point, is that when there is profit, I take the profits of the market to bet equivalent to I buy a lot at point A, that point B if It price to rise, up more time to do a hand, and then to rise again, while adding side by side, can add up to 10 to 15 hands, if there is a big market, then I must be able to make a big profit, if it is in a shock, then I must be a small loss so at this stage let my curve smooth out a lot, although the 2011 market is not as good as 2010, but I The curve should be said to be a little better than in 2010, at that time it is concerned about a retracement of a relationship in this phase, I added a multi-species in this process, then I began to do commodities, commodities, then a simple trend strategy, while loading in ten commodities, what are the criteria for these ten commodities? Find the volume of the whole market, that is, the most active amount of turnover, and the most volatile that we rate the varieties of the whole market, the assessment out of about ten top, then only choose these ten, after the end or use the win plus code, the strategy of complementary classification, homeopathic trading, this is my third stage of the fourth stage, and an improvement, that is, multi-strategy, multi-species, win plus code improved win What is the concept of mark-up improvement? It is the previous profit markup, relatively simple, is equivalent to the interval markup, for example, up 5 points to add, up 10 points to add, relatively speaking the conditions of a single point at that time I was thinking, now the trend, it seems to be less and less, then I add positions faster, or slower to consider a lot of problems, after the combination of N conditions together, if the A conditions, I also add positions, B conditions also add positions, C conditions I can also add positions that later thought of adding so many positions down at once, add so fast, if it appears a reverse, then I will not lose a lot? Then I later added a winning position reduction, if the price towards my unfavorable direction, the process of going, if it reaches a certain feature or a certain magnitude, then I have to reduce the number of then this is what I am doing this stage, there is a market impact perfect, what is impact perfect it? Is our biggest enemy in doing programmatic, I think many people will know is the slippage slippage this piece, that I am looking for what, I am looking for how to improve the slippage, that may be to say who is fast, who will take advantage of this is a factor, then put our trading to Zhangjiang, there is another what is it? In fact, I summed up for so long, this year can be said that there is no gain, the only gain is the slippage harvest slippage is now our real trading is tested according to what, you do stock indexes should probably know, usually if the test, we think how much more reasonable? One ten thousandth of the commission, some people may not be able to block, right, that I now live words is in accordance with zero point five ten thousandths and one of the accounts have a positive slippage every day, which is equivalent to zero point five ten thousandths of the commission to measure, I also win or lose every day than the test report to earn a little more I think this is the biggest gain this year, the other gains nothing, of course, there are also failures to sum up the experience so the market Impact success or failure I think it is possible to achieve this stage is this year, the first is called actively increase account volatility, then why have such an idea, because once my brother and I went to Chongqing over there to learn a financial class, the learning process, we discussed, we said that our lifes trading life or our life to go? Later eventually came to a conclusion is to ensure a modest life under the premise of creating some legendary performance of course, we are in the process of doing, because there are industrial support, so for us relatively speaking to seek some volatility we said the front fluctuations are too smooth, 2012 my biggest day loss of only 1.9%, then to this position in 2013, the initiative increased after the usual See is two point a few, that now it seems this may not be right or wrong, I think we can only maintain a neutral view and in this stage or continue to do what? Multi-strategy, multi-species, and a refinement of the control of the entry and exit points called plus or minus code this is and around this market impact to improve further research and deepen there is a counter-trend strategy of hedging transactions, that now seems to be a very bad counter-trend strategy, because at that time my counter-trend strategy developed about two, two main counter-trend strategy, one of them on the earlier, before the curve is very beautiful, after the end, according to my principle is a small amount of real, one hand to do, do when very amazing, do the real inside is also very profitable, earned about 50,000 to 60,000, while the homeopathic trend and daily loss of money, and it is making money every day, I think this can, and then increase the position, it seems to be added to five hands plus five hands after the same, flat flat flat, not much to earn, just started to earn a little, began to slowly weaken The most time is from the high point to the low point, probably lost 80,000 to 90,000, recently made money again, but now I have no relationship with me from one hand to five hands, just one hand to make 50,000 to 60,000, 70,000 to 80,000 this way, and then from five hands to make a loss to 70,000 to 80,000, for me this lesson is quite big I think the process of real trading is to reflect on these issues another strategy is also The same, from one hand, three hands, five hands, eight hands, and then from eight hands, five hands, three hands, do not do, this section of the capital why the retraction so fast, the biggest one is that I added a high proportion of a counter-trend strategy, and is the daily retraction, is the daily retraction will be larger, so the retraction problem and in this process is no longer to follow the trend as the only one trading concept At that time, I thought I had found a way to make money without a trend, and I finally found it, and now you see the money curve. The retracement reached 15%, that is, the retracement of my main account reached 15%, then I can only do? I can only reduce the highest position of this account is 48 hands stock index to the original 20 hands, 20 hands at this stage, that can not be helped, because in my money management is if the capital retraced 15%, I must take a conservative approach to do the second I summarize a retracement of the reasons, that retracement of a major reason is to increase a counter-trend trading, and the position is gradually increasing the profitability of the time The third reason for the retracement is the use of a simple strategy, what is the main strategy? Is only two words, I am now doing only two words to do the main strategy after the fourth is to suspend the leaning sword strategy plus late improvement, which is I took some action or measures at this stage from our stage to the next step, this account reached 22.5%, the original 20-hand position all the way down, down to 11 hands that means I now only do 11 hands stock index, the daily fluctuations on will become a little smaller, now there is no way you if you use a large position in doing, what is a problem? That is certainly from our bankruptcy line faster I follow a saying, called profits are passive, is dependent on the market to give, but losses we can take the initiative, we can control the so here we must do this action, reduce the position of the second will be the original ten commodities to six, and in the 200 yuan change unit reduced to 100 yuan what is the concept, we may not be very clear, equivalent to reduce the position of how much? 10 varieties I now only do 6, on the reduction of 4, and the change of two hundred dollars, because I do positions I am not in accordance with how much margin, because the margin is not counted, I am in accordance with the change of price, what does it mean? For example, copper, it is a jump of 50 yuan, and 200 yuan? Then we should match 4 lots of copper if coke 200, then we only match two lots of coke, according to the price change, then if we add volatility characteristics, it may be a little more uniform, the purpose is to make this proportion, so that they average, so that there is a better hedging effect third is to increase the filtering mechanism, why increase the filtering mechanism? Because the current account is a loss of 22.5%, so we must reduce the time in the market, this is a move I am taking now so this curve just now is our curve looks the same, but to sum up it is a lot of steps or many stages to complete so make this curve, is a very difficult thing, it is definitely not from A to B, just use a method, on This is not possible, if I use the method of A from this step I do not perfect, that by now early bankruptcy so I think we should carefully study the money curve, because this is the most real, if the money curve this piece does not have, then you just by your brain think what is right and what is wrong, that such easy to appear subjective, more subjective next we will talk about my personal opinion of the program The first requirement for traders, I think they must be proficient in writing procedures Why do you say so? The reason is that many people who do not know how to do this, often have QQ users to say to me, you know how to program? Can you program? Can you sell me that program? What does he want? He wants a program to make money for him. What is the problem that tends to arise? The problem is that you dont know the principles, so how can you make it work on your account? In my concept, I lose money also want to lose money clearly, in what kind of situation I lose money, in what kind of situation I make money, that program it is nothing more than what, just for me to carry out my ideas only that why should they be proficient? Because for example, you have a friend next to you, he can be proficient, you give your ideas to him to write, that some people think you are the Holy Grail yourself, my logic that is not leakable, this is one of the reasons the second reason is what? In the process of your writing, it does not have a way to understand your logic 100%, understand your program, and your program is there, I write programs are like this, A program 1.0, A program 2.0, A program 3.0, is divided into generations, it is quite on that pyramid software like that is a few points zero system, is what version what version, because we need to go in this stage to perfect it to Update it, that we have to go according to the market changes, have to improve themselves so this is I think to do a program trader must do things that I write degree is how to write in the early stage, I am all with copy, copy paste copy paste, you let me now turn off the computer, write a line of code on the blackboard, I really can not write, you can say that the usual statements I can not write what is the key, the key is Logic, logic through, in fact, the statement is a function of the computer code, very simple, I now feel quite simple, the key is that you pass the line and write the most important one is to have an interest in the absence of interest, you feel the face of that boring code is unbearable, you have to feel in love with it, in the middle of the night still thinking about it, dreaming when you can still think about it, I think this is very I think this is very important, this is like me in the early stages of the same, often in the middle of the night with my wife to sleep, I get up, what? Computer open, write the program an idea came to mind, 5 oclock in the morning clothes also do not wear to the computer to write, a write, this method, test, no, sleep, so this is a process so this must be proficient in their own, otherwise, let others never write what you want, or not find your own soul Second, I think the program trader must have a detailed I think this is very important, even manual traders are also the same your money curve represents all your trading behavior loss also to face, earn also to face, loss is also very normal, I am this understanding of my money curve is public, I am not afraid of others to say, you this level how so poor, that poor, I have to face their own trading results if you do not do If you do not do this thing, it is easy to have a problem is always live in your current ideas, always think they are the best, do not look at the money curve so here I share with you a module of my money curve, this is doing, this record is May 25, 2010 began to do, the first day of trading days that to now, we first look at the above data, trading account number, date, trading days, the days commission The number of trading days, the commission of the day the first day is wrong, the net value of funds, deposits, withdrawals, real in and out of funds, then why there are deposits and withdrawals, there is a real in and out of funds it? At a later stage, there is a real net value, the days win-loss, cumulative win-loss, initial capital, and a days yield, total return, win rate, maximum retracement, and a total commission, and total profit, total loss, win-loss ratio, the number of days of loss, the number of days of profit, all to do it out after we fill out a number a day, a number a day, all the way to Like my 808th trading day here, the commission of the day 900 yuan, after the end of the daily deposit and withdrawal of 5.8 million, then the real deposit and withdrawal? No, then there is a withdrawal here, then why is the withdrawal of 5.8 million it? I think most people know, not to say these data can be a good reflection of the real situation of your account, not too complicated there is another what is it? We must draw the money curve out this is a month curve chart, I am doing a what? My goal is very simple, is to annualize 30% per year, the annualized 30% is equivalent to its compound interest is 2.2% per month that my goal is in 2019, my curve can be in this line above, that will be successful and a month plan, each month must be to write a month plan, I think the code of conduct is here, I will write it well, that I comply with a principle is what? Is the plate we can not move, only after the plate review, even if you make mistakes, mistakes you do not move in the plate, unless you are the wrong signal, or the wrong procedure, if you think the plate how ten hands today, the position is so heavy, I reduce five hands, OK? That is certainly not good why? Because you did not think last night why only when you lose more, when you produce fear you then cut it down in fact, the reason why do not do well, most of the money lost, the reason is a persons greed and fear caused by so this is necessary to do the plan, then here comes a capital retraction, capital retraction my maximum tolerance range is 30%, if the loss of 30% I must stop this master account This is my principle, so according to the plan to do, every month to write, every month to our ranking, the market monitoring of commodity ranking to it, it is best to write a review every month, that side of the insights, review and what we do every day? Every day my assistant will send me a text message, text message is very simple, on all the accounts are summarized, send me a text message here is ABCD, the other all hidden that next here is a slip, the day profit and loss, the current retracement have, my slip is calculated in accordance with 0.05%, that is, for example, actually run the best one is more than 800,000 of this account, what is the concept What is the concept? As you can see, it is 0.05%, the numbers here are positive, how did this number come about? For example, 106, this 106 is how to get? It is equivalent to my day, for example, my theoretical win-loss is earned 10,000 yuan, but I actually earned 11,000 yuan, then I earned the equivalent of 1,000 yuan this 1,000 yuan this day and traded several times, divided by the number of days of trading, that is equivalent to a position in the process of opening I earned 106 yuan, equivalent to this concept so the data for our trading is very important a real real data, as just said As I said earlier, we look at the curve to speak, look at the data to speak, dare to face their own mistakes or dare to face their own winnings and losses third is the plan to trade, the implementation of the plan I do not think in the plate, or I do not change, I will think after the plate what I want to do tomorrow or what I want to do next month, once done I will not move it, because in the plate easy to appear a human nature and the need for continuous I think this is particularly important for me to learn I think this is particularly important for me because what, because just now our Shen said the loser, now the so-called he gave me an evaluation called rich and handsome, although not high and not very rich, but at least a little better than the previous loser, the reason is that I am constantly absorbing things from the outside world like we came here today there are several of my teachers, and our fellow students have in my concept of what, you can only continuously absorb the things of others. I personally positioned myself and I often talk to my assistant, the main thing is that we have a method of learning the first, if we have no conditions, then we learn through what? Through the network, through the forum, through the group, through WeChat, through our futures China inside those master interviews, these things are actually very important most of me think its good to go to see, this is no cost, our cost is only the cost of time so this I think a lot of, what else can be done next? You can read some books, and go to some, such as free forums, free training these are not much cost, is the transportation costs behind if you then have the conditions also want to go deeper, that is to pay to learn, that I think this point is very important in the hairdressing industry, I attach great importance to, is any school around the country, as long as it is famous, I must go to report, to later words, to Japan, to Korea, I went to all, why? I think I can change my fate I go like an investment, many of us have seen, what is the reason, I went to more places, because their own culture is not much, their own not smart enough, can only go to learn once I spent 30,000 yuan with a private equity firms boss, two people one-on-one teaching, just two days, together with tea, just chat, 30,000 yuan, then I think it is worth why? Because I did not learn anything, then he also gave me to verify my thinking, right? He said it is not right, if I think it does not suit me, then I follow my original old method, if as long as there is a sentence to bring me new inspiration, it is definitely more than 30,000 yuan so I do industry is often follow such a principle to do, I think the summary is this four points and one is the programming points, then I would like to ask, everyone here, is doing programmed, do more than a year of automated trading Do you understand? Raise your hand and Ill see if you have? Really? The first thing I think is logic, that is, your logic, this is very important, that is, why I want to open, in what kind of situation I am flat, how I do, first you have to have this idea, in order to produce the so-called signal, if you say you twist a mess, you say there will be a holy grail, that this holy grail must be in the eyes So some of my friends called me and said, I have a very good strategy for research, do you want to try it, there are about 800,000 wins a year, do you want to try it? I said, forget it, do not try why? Because I do not know your thinking, I do not know how I die, or how to live, I lose money I have to lose the reason, because I know the reason will know how to improve it, if I do not know the reason, then I can only freeze loss second, whether the communication statement symmetry, before I also participated in some model swap, model exchange, model exchange is to put other peoples models, for example, 20 people. A person out of a model, I also out of a model, the 20 models shared, that this situation, I actually saw a curve is very beautiful, there is a future? No future signal scattered? It is not scattered then why it is so beautiful? The source code open a look, it is short conditions, very loose, very easy to reach; long conditions are very tight, filtering a lot, not easy to reach that some people ask, why the curve is good? It is because from 2010 to 2012 when it fell all the way, right? A way down so it short conditions more, then it must be a little less curve, that in case the beginning of the bull market in 2013? That must be a loss so I verify the model must be to use the pyramid of the K-line reversal, turn a little, it is the original open more conditions, it becomes open short, the original open short conditions become open more I so swap a look, reversed also have earnings, positive also have earnings, curve correlation is not large, that represents it is more symmetrical preparation, it is not the kind of asymmetric, or based on historical data to develop the The problem is that there is a parameter adaptation, parameter adaptation I personally think is to write as few parameters as possible, in my program I try to set the parameters in it, what does it mean? I do not write in the parameter table, why any programmed inside it has a parameter table, the parameter table is what it is to do optimization, I finally finished model I do not give it to write in the parameter table, because I think this thing I try to let it maintain its adaptability that what does this mean? Let me give you an example, if you want to talk about the adaptability of the parameters, for example, we use a trailing stop, trailing stop what is not easy to fit it, not very adaptable, for example, 10 points of stop loss, which is not very adaptable, why? Because the stock index is now 2050 points, if the future 6000 points, you want to use 10 points line, then you can change to 20 points, that represents the point of adaptation is not enough, then we can not use what it? Use a percentage, such as 1% or 0.5%, this kind of it 2000 points, it will automatically go to the calculation, it 1% is 20 points 6000 points it is 60 points, that this kind of is a no matter how it market changes, and eventually we get out of the parameters is an adaptive, there may be volatility, volatility can also be so I in the actual process, usually rarely use a fixed number of points, a point or I think in the process of writing the program must be simplified, that is, as simple as possible, can be expressed in a sentence, then we use a sentence, can use a condition less use a condition as simple as possible, can use the same indicator to do some filtering or optimization, then use an indicator, do not use a second indicator because the more conditions you use, then your statement will be more The more complex, the more complex it will be on behalf of the future adaptability of the market will be a little worse, relatively speaking, will be a little worse fifth refinement control, detailing, refinement, that the previous talk is to simplify, to simple application to fine, which is not a contradiction? In my understanding is no contradiction is that your logic is simple, is streamlined, but your control of the statement must be fine, at what point to go in, or how to go in, or take into account the current market a reflection of the state of these I think is very important, the reason I was able to do just said zero.5 percent of the slippage, there is also an account is still counted down it basically no The reason for this is here, fine control, to consider the current market so we are in the process of writing this code is relatively complex, but this complex is not a logical relationship, it does not matter, write a few more lines also does not matter but the overall a logical, a structure must be simple, as simple as possible, the first half of my talk to Here we talk about the following part, we first look at the advantages of programmed 2009 when I went to the Mandarin side to learn, the class is also 10 people, many people are holding a try attitude 2013 onwards, the popularity of the programmed very fast before like those in front of the programmed predecessors, zero years is a burst of earnings, 2000 to 2010, this stage are burst of earnings, these years It seems not good, a big factor is that we are aware of the advantages of doing programmatic, I am also because of this programmatic things, I dare to enter the futures because my own personality is very conservative type, because before is used to poor, poor afraid, when I was small in the family is the deepest impression of the food is not enough, at home to see the old mother took a rice bucket to borrow rice, when borrowing rice did not borrow, came back and dad quarrel, very deep impression. I was very impressed by this sense of security, which is very important to me, so why choose futures? For us in the countryside, that is not jumping off a building, choose suicide? Because it is easy to do futures is to hear that overnight bankruptcy, it is like this Then we look at, I think the first advantage of doing programmed what is it? Its objective advantage, its not the same as manual, its relatively objective, why say so, I stress myself what is it? I do not interfere with the plate, once I set the number of lots of ten, I absolutely can not say that today I will add to eleven, that is impossible but a lot of manual trading may not be the same, today the market is good, may add a hand, or add half, there are such cases but what is the market is good, may be you make money, your greed or your utilitarianism came, then you may add in, that add in may appear A problem, the market may be better, that you make money that think is right? But this is prone to an unstable, unrepeatable, prone to this situation to do the program has a benefit is ten hands it must be ten hands, it is impossible to eleven hands it can be in the process of implementation to avoid human greed and fear, I think these two points are really doing manual or program, are very important not to say that the loss of money on the fear, money on the joy or money think this futures market is really good, this life I must earn how much how much money, when the loss of money do not dare to do, stop, prone to this situation I have been cautioning themselves not to have greed and fear, I must maintain an objective mind to look at the market, losing money is also very normal, making money is also very normal loss of money they think loss of understanding, earn their own money to understand, that can be the second is the advantage of trading speed, what is called the advantage of trading speed? What is the advantage of trading speed? We from the signal to the transaction returns, are completed within a hundred milliseconds, that is to say, I want to a thousand points to buy in, the price really to a thousand points, this time the human eye is to see a thousand points, the hand to find the mouse to find the account to hang a single in this execution process, the fastest also to seconds, in the program it is clucking deal to get done is to do the millisecond level that is, in my program I allow Their own speed is in 50 milliseconds to 60 milliseconds, from the signal to deal, not commission to deal so this speed is very fast, that can solve the problem of the speed of the third is the advantage of the trading portfolio, what is the advantage of the trading portfolio? That is, a strategy can run in the whole market or not only in the futures market, I can run in the stock market, artificially prone to a problem, you can only do a maximum of two varieties, three varieties, five varieties, if you do intraday high-frequency, you can only do a variety, and after doing it is two eyes are blurry If the program is not, it can operate at the same time N varieties, millisecond computing, monitoring, trading this is what I think the benefits of programmed trading that why the combination? Because the combination is now recognized in our program is to achieve the final must be combined, to the back is a combination of multi-variety, multi-period, multi-strategy Why this way? Because we finally came to a what is it? One of the biggest advantage of the portfolio is that the winnings are additive, losses are offsetting each other is equivalent to, for example, I do a hundred of the portfolio, I earn a dollar per portfolio, then I am sure to earn 100, but if I 100 portfolio each portfolio loss of 1 dollar, then I am definitely not the maximum retracement is definitely not 100 I may be 60, why, because A make money in the process, B may be in the loss of money, so it will offset each other. So it will offset each other, that your retracement will be controlled down, this is our portfolio is now recognized as a logic, so we have been using a combination of another is the advantage of trading continuity, strategy always maintain millisecond level of computing, that is, no matter what your strategy is, now we are a thousand milliseconds, can also do 500 milliseconds to monitor whether it is the daily, for example, the daily is Once a month out of the signal or say half a month out of the signal then people to monitor, then I think it is absolutely impossible to perform 100%, why, because you can not keep an eye on it, a month on a month on the next single, it is impossible but if you say with the program to do, it is always so monitored, whether it is a minute or to the daily level or to trade ten times a day, or I think this artificial and this is not the same, of course, artificial also have artificial advantages of the fifth is the backtesting of trading strategies, can analyze the performance of the strategy in the history of the market, which I think doing the program an important one of the big reason artificial in doing is that I feel that this idea is good, then I started to use the real market, because you do not know This thing in the end is good? But do the program it is so, I feel that this thing is good, I can first write out, write out, I then use the history of the N years of data to test the process of testing, it is indeed profitable, then I think the possibility of projecting future money will be higher, if you say you feel better about this strategy, write out the curve is straight down, what does that mean? So I think the test report is also more important, for me I think the program is too good, because I do not do this piece of full-time I usually in the research, after the research, the strategy into the database inside, in a connection, connected to a pyramid inside a strategy server, throw this line of code to my assistant told him that today you can go online on the Im doing it, Im doing it when he passes the data to me every day, after the closing of the data to me performance so then Im very easy, just like Im doing industry now, I also think Im doing almost programmed for example, I went abroad to play a few days, some time ago to Thailand to play a week, nothing happened at home, its all automated operation, trading above with program, find an assistant to look at the signal, industrial above our distribution mechanism, our shopkeeper automatically run, out of the question to find what, I think this issue is very important to our people is very easy we spend more time to put live strategy writing steps this is not the standard answer, everyone here should be a master than I am more powerful, that I am in the process of writing a live strategy steps the first is to think The problem, first think, first ask yourself, I want to capture the market which market characteristics? That is, what do I want to do, what do I want? This is the first question I have to ask myself, that is, which section of the market I want, whether it is oscillating, or trending? If it is a trend, which section do I want to eat? Is it the starting position, or the middle part? The first is to ask yourself what market you want to capture and what are the conditions for opening and closing my position? I want to eat these quotes then I have to use what kind of a computer language to do it? If I use MACD can not, I use the average can not, I use volatility can not, I use the breakout can not, all can, that it does not say absolutely MACD good, average good, no, it is also a double-edged sword, there must be good third, is the original code of the strategy writing, we are in the process of implementation, we are in the process of writing the steps, the first step of what, the second step of what, the third step What, all to it one by one planning assumptions this step, we achieve, then what is the next? Must do one thing, is to check whether the signal is consistent with the idea, what do you mean? I am now the signal out, and I am not consistent with this idea? There is also a called no future, what do you mean no future, that is, there is no deception of their own things if you say with a future function that your curve will be very beautiful, but the kind is in the eyes not in the use of we must follow a real, because we are not to show, not to show off often in the group to see a lot of a year to earn a couple of million, that I think unless he really live really run out The person can be great, but if he only sent a test report for you to see, what is that? I fished a lot, this day earn 100,000 yuan no problem, with the future function well so to this process our signals and ideas to check, at least your signals and ideas of an accurate fourth, test template import, this should be my original, I do not use the pyramid test report, I write a lot of data is their own, I do not like that kind of test report, because the test report this thing is not Very real I will write a template, and then imported into any strategy to write a signal, after importing the test report, once inside all the data out, that much cool, and to find their own want a few key data, suitable for their own, such as what you are most interested in, that data to write it out, your personalized a template sixth is to add filtering conditions or optimization strategy, that is, the first we are this is an idea, the first is the first one. That is, the first we are this is a thought; second, what indicators we want to use to implement; third that is my writing process; fourth I check the signal and my ideas my indicators are consistent and ensure that it is a model without future functions; fifth I began to import the test template, after importing the test template appears a value called, this strategy in the future, in the history of Is it making money or losing money in the process? What does the curve look like? Okay, so then we start to reflect, what do we start to reflect on? This doesnt feel as good as we thought it would, so can I do some more filtering? Or optimize it? Can we, that later we can add some conditions seventh step, is the import of live templates and or simulation test or a small amount of live that I follow is, write a model, before I was to run simulation, now I am not running simulation, I directly on the live that on the process of live we rarely, first one hand, do do do do do, two hands, then do do do do, three hands, five hands this way, is Such a process that do so, why I now start on the real, because I know my own writing process, I write things, I know I this will not go wrong if people give you a beautiful signal, then you take you dare to use it? Do not dare to use it, because you do not know what he wrote in it, or is not in line with you, well, then this is our seven steps, next we start to achieve step by step next you can see here, I edited a user name, here a folder, folder inside the steps of the first, I want to eat what the market, then I need to first make it technical indicators, that I now say to do The first step, I want to eat what the market, then I need to first make it technical indicators, that I now say to do a trend of the market, then we see, in the preparation process, I omitted, because the time is a little long you can see what this is like MACD is not, a little like MACD that we think is MACD then I drew a line here below, this line is thicker, is green, a red line drawn on the top, this line, is the red line and green line, so look at it, you are not at all know how it is composed of, or how to write out, then we look at the source code, the source code is very simple, the first line of numbers is to set a parameter, in the process of writing, there must be parameters, in fact, this program only one line of code, is this multi-point line, I defined it as a multi-point line, what is the way it operates? The operation is 50 minus 100 multiplied by the maximum of the previous period, what is the maximum of the previous period? The 35-day maximum, minus its current closing price, divided by the highest price 35 days before the highest minus the lowest 35 days before, then it will come up with a long-short line, this long-short line I used the bar chart to draw it out, then it is out of this is this is very much like the MACD, then this idea is how to come? I was thinking about the MACD, if the MACD is prone to a problem, we all know that the MACD is composed of averages, then the averages are prone to a problem, MACD often divergence, like this market, up in the market, it is down, the reason is that it is a short-term averages on the long-term averages, so it will instead be so go that I think it is easy to appear A capture can not have the market, then we gave it a price to draw a similar MACD This is our first step next we did a polarization, the polarization is the line above and below this line, the long line and short line is always 45, because it is this line, it is always in the highest value is in 50, the lowest value is is negative 50 that I do the long line is 45 The short line is negative 45, we do not comment on this indicator is good or bad, and then we continue to the next we start to build open and close positions, build open and close positions is very simple, when our closing price after the close, the long line in the 45 above, we will open more, in the negative 45 below, it will close more, turn short, it is so simple that we look, now the signal out of the next in we do one more thing is to check, on Check the signal is not my imagination, do more that we look at, this just, you can see this is a short line, is open short, is not it, the bottom of this line is 48, negative 48 that is less than negative 45, then I should open short, after this side of the words greater than 45, then we will open more, if it is really in the process of writing the model we are to start from the effective data one by one to Check I usually start after writing, this way start pushing, keep pushing, push to where? Here, there seems to be a less than the extreme value, then there is no signal here, if not, then there is a problem Then we look at the whole process of implementing the source code here First of all, we still set the same parameters, why do we have to set parameters, because we have to have an optimization process in the end in the process of writing, that is, we have to let the computer to run through all the parameters to see what happens What happens, that I write the process, usually I will first add Chinese in front, this is the comment, the parameter module, this board next look at the middle of the variable, the middle of the variable is actually a statement, is a long-short line, and 45 words is an extreme value, on the most important of this long-short line, on this one, after we follow the computer computing method is to close the position first after The principle of opening a position after the first flat, start writing a statement to close the position, close more, if there is more than a single, will be more than the short line is less than the line, then I started if there is more than a single I will close it, I use what flat it? I use C flat, that represents no future function, that the same, the short is also the same, open more if the current short position, then I will reach this condition, then I will open a lot, short is also the same reason after writing, we carry out signal detection, no problem next and then enter the third panel, import test template import test template first give you a look at the test template in the end what was imported? The source code above is not changed, or exactly the same as the second step, and the above is exactly the same Next is the bottom is what I added extra, called the test report data analysis variable The bottom section of the code mainly presents a few numbers? It is shown here, the test report figures show that these are to achieve the following data an intermediate variable then the first I want it from my effective trading day, I traded a total of how many times, I want to know the number of transactions, the second I want to know the last opening price or closing price; third, I want to know my maximum retracement since the history of how much the fourth, I want to I want to know the total profit divided by the total loss is how much, and I want to know its average single profit is how much, because I divide it by the total number of transactions, and is subtracted 1 million, then the day win or loss should also be written in, net profit should also be written in, this is the test report next we can look at here, our test, because it is the closing price model, we use the test method of one ten thousandth, if I say that according to the template I now use The template that I am using now it is measured by 0.05 per 10,000, that we use one ten thousandth to test after we start, but also to apply up, apply up after its curve came out, this curve in general, red this is the capital curve, and red this very thin is our maximum retracement, the signal came out after you can see, the total number of transactions from this position to this position we are 535 times The most recent signal price is 2404 points, the maximum retracement is 160,000 9, win-loss ratio is only 1.17, the average profit of only 1,000 yuan, the day win-loss on Friday earned a thousand dollars Next, we began to increase the filter conditions, if this positive and negative hand model to write in, certainly prone to a problem is what? Because you are always in the implementation of the strategy, this kind of problem is inevitable, that is, this curve has been losing all the time loss of this kind of why, because any strategy has not adapted to the time, when you do not adapt to your loss is very fast, that we have to let it increase the filter conditions in order to solve this problem, that is, I do not let it always in the trial, I want to let it have a rest time principle or this way, that How do we do it? Suppose we add the filtering condition is what? Here write a parameter called filtering parameters, the above or no change, I made a in 10 cycles inside, the long-short line is less than the short line, is twice should make the filtering parameters is twice, then I will start to level, otherwise I do not level, is such a simple filtering mechanism of course we may add more in the real market, that the following test report or will continue to retain the next we enter The fourth step, the fourth step we apply you can see, and out of a different curve, because it was filtered, that is still the same, the problem is that there are peaks and valleys and will fall rapidly this rapid fall is what? Lets look again, from this position to do in, until here to level, some people say here theoretically also more reason is that I filtered out, here not open more, because it only happens once in 10 cycles, then here it why open it? Because in the 10 cycles occurred for the second time, so only open in the next, so the curve does not seem to work, the retracement is too large, from the original 160,000 into 260,000, next we add a stop loss, that is, in the original logic of this we add a stop loss to it this stop loss is a trailing stop, we trailing stop is calculated with a percentage, with a very simple number is 1%. Trailing stop loss of a 1% that we enter the fourth step, adding a trailing stop loss of 1%, the number that appears is the total number of transactions is 497, the signal price this is not important, the maximum retracement of 61,000, win-loss ratio increased from the original 1.1 to 1.5, the average profit of 1800, and you can see that this win-loss ratio has changed a lot, and the number of times has also been reduced, you can see the third step When we can see the third step is a naked idea, a very naked idea, non-multiple that is short, after the fourth step to increase this condition, from more than 500 times the number of transactions, reduced to more than 300 that is equivalent to the volume of transactions in the reduction, but its win-loss ratio is very little, a single profit increased a little bit that we look again, if we say increased it? This win-loss ratio, because we say that the win-loss ratio is the most important, there is a maximum retracement, from the largest loss just now, the maximum retracement is 260,000, now reduced to 60,000, win-loss ratio from the previous 1.1 increased to 1.5, the average profit increased from 1000 to 1800, the number of transactions than just filtered more, what is the reason? The reason is that we close positions more loosely, close more positions, so it is also easier to open more positions, but it is present in the time is reduced everyone think that such a curve how? Not bad, right? Just one sentence, then someone said that one sentence can really write the model? Practice up to draw 75 lines, these 75 lines are all nonsense or are the implementation or are you want to practice the process of this sentence with 75 lines and you can see that we are no future function, there can be no future function, I can directly live, why this way? You see this, I changed it, with O price, someone will say O price is not the future function? You see a ref in front of it, it can not be less, it is equivalent to the previous cycle to achieve my opening price in the next K line, why do I want to do this? Because I have a trailing stop, my trailing stop must be dynamic, scanning once every second, not after the K line, because after the K line is prone to a problem, that is, by the second, the light of the big event kind, if a minute it can rise 50 points, there are dozens of hands inside, then it is finished that we must use the command price mode, with the command price we must also use the command price below, then we have to With the O price, then the following is the test report, think this is good ah, then this failure probability how much? I dont know, right? But you let it do long-term, will be a big loss? I dont think it will be much of a big loss next we look at the test reversal, K-line reversal of this line, the red line, it is up, and then next, lets do another multi-cycle, because we use the current K-line of the first 35 weeks of the highest and lowest to do, so we should be able to see what kind of effect multi-cycle look at the 10-minute, the net profit should be 56, K-line reversal without looking at it. Anyway, it is symmetrically written, it must not be bad, 15 minutes, it is like this; 30 minutes, it is like this; 1 hour, it is like this; 5 minutes, there are 3 minutes that at least it is profitable, of course, many people are the pursuit of perfection, that this curve is too bad, for example, lets look at it, lets write a future function, write a future function directly on this side to add an O, it flashes to You can not open your eyes, so is not this beautiful, this curve is beautiful, perfect, right? How can we lose money? This futures market is not the day to become the richest? So this kind of thinking must not be shared, right? You can see its win-loss ratio is how much? 3.16, the total number of transactions 896, and the average profit of 3700, cool the most critical it from the beginning to now earn 3.38 million profits, and the maximum retracement is how much, only 50,000 2, is not bright to blind, but this is impossible, there is no such holy grail, so some people say that the win rate can reach sixty to seventy percent, I think the real trend strategy can reach, that is, you normal a little do not add some tips of the kind, you will put this between 35 to 45 bar, that some trend strategy it can reach fifty-six percent, I can also write out, tell you how to write out, profits did not increase, the win rate went up, how to write, is that we put a hard stop loss, for example, our hard stop loss is 10 points, we wrote in the process of going up ten points later, we will pull to the cost price near, that I do not pull the cost price, I will pull to a little higher than the cost price, a high jump or a high point, this way, then, in the long run, it must be greater than 50% of the win rate, but that does not make sense, the win rate is high, but meaningless, and the win rate of thirty-something percent is the same There is also a link, is a simulation test or a small amount of real trading here I also wrote A template is direct, in fact, now for me, I only do one, two, three, four, five, to five steps, in fact, the third step I skipped, because this template I already have, the second step I also skipped, this template I also have this out of the not signal, it is direct to a line this line is what? This line is what I want to trade, this line, when this line is 1, it represents my current position is a lot; when this line is 0, it represents the time is a short position; when this line is -1, it represents I have a short single hand this I follow the pyramid, share things is the background template, then add an improvement to it is that I have a single measurement function, this will not need to speak in detail For example, I think this strategy I now feel good performance, I want to do two lots, in this place just change, multiply by two, it can be, on two lots, the actual process, then this side is two lots if I say I have N strategy, then what do I do? On this side to start a new line, CC1, CC2, CC3 has been to CC10 to the back of CC all add from CC1 to CC10, the following do not have to move, the following measurement account to it to move a, after the price of the copy also do not have to move, this is the way, this is why I do the pyramid, because the pyramid this piece, for me is quite good, because I am only responsible for model writing, research to the late The actual plate of this piece already has very mature things, directly get on the line There is also a part is our leaning sword real strategy, leaning sword you have to watch CCTV should know, I am in it to show the longest one, is two years ago, in there to show with the strategy, on the three main strategy to share with you, the same, I use the three main strategy, I named it respectively called the legend Variable five that represents this strategy has been upgraded to the fifth generation, in the next word is estimated to be the legendary variable six, each generation I will leave the bottom, and then the momentum variable five, the average variable five that what does it mean? The legendary variable five you do not know, but the momentum you should know, it is a volatility, the average it is with the average line that look, we are doing in a minute, this is a command price model, I am using one ten thousand point five test data to do can see this data is a kind of concept? The total number of lots is ten, that is, I have a set of strategies, there are ten lots is the most will add up to ten lots, the total number of transactions, the maximum retracement, the maximum retracement is when a is a lot of retracement of 24,000, after the win-loss ratio is how much? 2.25, the average profit of 5900, 6000 pieces, net profit of 5 million, that we have found from this position to this position, are quite similar, to this position It is not like this because I am using this process, of course, the front is improved before the strategy is not so good this year, if I say this one strategy I am making money, but this year eventually fell to a loss of money, the reason is not this, not this also has the advantage of summing up experience, at least let me know what is the reason for the loss of money this I positioned as a neutral strategy, its offensive is not very strong; this is a defensive strategy of course I can do the real world is impossible, so many source code, this is certainly impossible, but relatively speaking we do the real world only add 300 K lines, or even 200 K lines this is a defensive strategy, the front is very beautiful, this place dug a big hole, and eventually went up, this time there is a retraction, some time ago there is a big market, also went up, that If we say up this year is not losing money here is this year, we look at our test data must be one in 10,000.5, not one in 10,000, if one in 10,000, so many years down, the curve will be a little better that this strategy, we have how much source code? There are 250 lines of code, the back is a part of the test report, the front is doing these things, the variables that the idea is simple? The idea is also simple, I have used these before, here is not add slippage, but you can see here a buy point optimization buy point optimization is what? Buy point optimization is my understanding of the market added a little something into it, and others have a little different, that we are different for each buy point optimization, there are 0.8, 0.4, 1.0 have and look at an average variable, this is the same one ten thousand point five data, the total number of lots are ten hands so now I concluded that ultimately may still be the most stable plus position strategy, how the market is cruel again The maximum retracement was 17,000 before, and now it is 31,000, the maximum retracement is 31,000, but its profit/loss ratio can still reach more than 2.0. Some level, today to share with you all these are I think there are not too many fancy things, is to the real side, the face of everyone, regardless of the good and bad, bad more criticism, good hope to have a role to play the role of reference or play a role of inspiration, there is not too much of the so-called magic indicators, thank you