(1) Position adjustment: one beat fast - half a beat fast - on time - half a beat slow - one beat slow

This is the "four three two" in Barrow's happy investment mantra 1. The downward application of position management rules.

Keep in mind: You can never sell at the highest point, as long as you make money, you can sell it right;

If you shoot quickly, you won’t get a lot of money, if you shoot slowly, you will lose a lot of money, so try your best Achieve half-shot and on-time;

Half-shot is to reduce the position to 90% when the warning chart appears in a sensitive position;

To shoot on time is to fall below the 10-day line When the market falls, continue to reduce the position to 70%;

The slow half-beat means when it falls below the 30-day line, continue to reduce the position to 40%; (There is currently no stopping of the decline, and the position will continue to be reduced until the bottom position is 40%. )

A slow beat is to determine when the bull market is over and clear the position.

For individual stocks, unless it has a clear stock price catalyst that can occur soon, positions will be adjusted without exception, even if you make a mistake.

(2) Derivative hedging: short stock index futures, short selling securities

I judge that the market risk is approaching, and I have great expectations for individual stocks, and I am really unwilling to reduce my position. Derivatives should be used to hedge systemic risks.

If you start hedging the CSI 500 at the closing price of 8347 points on May 4, you can make a profit of 5.22% by the closing price of 7911 points on May 7. If you buy one lot, you will make a profit of 436 points or 87,200 yuan. It can effectively reduce and hedge spot risks.

Securities lending and hedging: If it is a security that can be sold short, you only need to sell the same number of stocks through securities lending. If it is not the underlying security, just sell short-selling stocks that are highly correlated with it.