86. In the long run, commodity prices are governed but by one law ， the economic law of dem******supply.
从长远来看，决定商品价格的只有一条法则，供与求的经济法则。
87. A loss never bothers me after I take it. I forget it overnight. But being wrong ***not taking the loss ， that is what does the damage to the pocket book ***to the soul.
当我接受了一手输了的交易，我就不再为它烦恼。隔了一夜我就忘了。但是，如果我做得不对，不肯接受我输了的事实，这才会既对记账本也对心灵造成损害。
88. It is profitable to study your mistakes.
研究你的错误会给你带来利润。
89. Of all speculative blunders, there are few greater than selling what shows a profit ***keeping what shows a loss.
在所有为投机而犯的愚蠢的错误里，很少有比卖掉会赚钱、买进要赔钱的更愚蠢的了。
90. Nothing is new in commodities! The game does not change ***neither does human nature.
期货交易里没有什么新东西！游戏没有变；人性也没有变。
91. In a bear market, it is always wise to cover if complete demoralization suddenly develops.
在熊市里，一旦突然全场士气低落，你最好赶快平仓。
92. The principles of successful commodity speculation is based on the supposition that people will continue in the future to make the mistakes that they have made in the past.
成功的期货投机，其原理建立在这样的假设上：人们在未来会重犯他们在过去犯过的错误。
93. In a bull market ***particularly in booms, the public at first makes money, which it later looses simply by overstaying the bull market.
在牛市里，特别是在高峰的时候，公众最初赢钱，然后就因为在牛市里停留太长，而全输了回去。
94. A bull market needs to be fed every day ， a bear market only once a week.
牛市需要每天为它提供给养；熊市只需要一个星期为它提供一次给养。
95. Never underestimate how much time is necessary to wash out a market that is long.
不要过低估量需要多少时间清洗一个看多的市场。
96. Never buy the first rally ***never sell the first break.
不要在第一次回升时买进，也不要在第一次下跌时卖出。
97. Be advised that it is better to be more interested in the market's reaction to new information than in the piece of news itself.
最好是记住，与其对一则新闻本身感兴趣，不如对市场对该则新消息的反应感兴趣。
98. Don't diversify ， concentrate on a few commodities. More diversity reduces amount you can speculate with. Also too much to watch.
不要撒芝麻在几种商品上。分布过散会减少你能用以投机的数量。况且要看管的太多。
99. Don't pioneer highs ***lows. Let the market tell you a high ***low has been made.
