{"id":173,"date":"2023-04-06T18:09:14","date_gmt":"2023-04-06T10:09:14","guid":{"rendered":"http:\/\/www.mingyun.org\/?p=173"},"modified":"2023-04-06T18:09:14","modified_gmt":"2023-04-06T10:09:14","slug":"brian-shannon-%e4%bd%bf%e7%94%a8-avwap-%e5%88%86%e6%9e%90%e8%bf%9b%e8%a1%8c%e6%9b%b4%e6%9c%89%e5%88%a9%e5%8f%af%e5%9b%be%e7%9a%84%e4%ba%a4%e6%98%93%e8%ae%be%e7%bd%ae%ef%bc%88%e6%96%87","status":"publish","type":"post","link":"http:\/\/www.mingyun.org\/?p=173","title":{"rendered":"Brian Shannon \u2013 \u4f7f\u7528 AVWAP \u5206\u6790\u8fdb\u884c\u66f4\u6709\u5229\u53ef\u56fe\u7684\u4ea4\u6613\u8bbe\u7f6e\uff08\u6587\u5b57\u7248\uff09"},"content":{"rendered":"<p><span><span class=\"\">\u4ea4\u6613\u4e66\u7c4d\u7684\u95ee\u9898\u662f\uff0c\u6211\u89c9\u5f97\u5b83\u4eec\u662f\u5df2\u7ecf\u8bf4\u8fc7\u7684\u8bdd\u548c\u67d0\u4eba\u7684\u89c2\u70b9\u6216\u7406\u89e3\u7684\u7ed3\u5408\u3002<\/span>\u6211\u5199\u4e86\u4e00\u672c\u4e66\uff0c\u5bf9\u5427\uff1f\u505a\u8d77\u6765\u96be\uff0c\u5199\u8d77\u6765\u5bb9\u6613\u3002\u5199\u597d\u662f\u975e\u5e38\u975e\u5e38\u96be\u7684\u3002\u6211\u8981\u8ba9\u516c\u4f17\u77e5\u9053\u6211\u7684\u4e66\u5199\u5f97\u597d\u4e0d\u597d\u3002<span class=\"\">\u6211\u4e0d\u662f\u8bf4\u6211\u5199\u4e86\u6211\u60f3\u5199\u7684\u4e66\uff0c\u4f46\u8bdd\u8bf4\u56de\u6765\uff0c\u6709\u4e00\u4e9b\u65b0\u4f5c\u54c1\uff0c\u6211\u60f3\u8ba9\u4f5c\u8005\u2014\u2014\u5e03\u8d56\u6069\u00b7\u9999\u519c\u3002<\/span>\u4f46\u5728\u6211\u5230\u8fbe\u90a3\u91cc\u4e4b\u524d\uff0c\u6211\u60f3\u771f\u6b63\u5feb\u901f\u5730\u575a\u6301\u8fd9\u4e00\u70b9\uff0c\u4eca\u5929\u7684\u5f88\u591a\u4ea4\u6613\u4e66\u7c4d\u90fd\u91c7\u7528\u4e86\u5df2\u7ecf\u5b58\u5728\u7684\u4e1c\u897f\uff0c\u5e76\u4e14\u4ed6\u4eec\u5bf9\u5df2\u7ecf\u5b58\u5728\u7684\u4e1c\u897f\u8fdb\u884c\u4e86\u91cd\u65b0\u63aa\u8f9e\u3002\u6240\u4ee5\u6ca1\u6709\u592a\u591a\u65b0\u4e1c\u897f\uff0c\u6240\u4ee5\u65e0\u8bba\u5982\u4f55\u5b83\u8ba9\u6211\u9605\u8bfb\u4ea4\u6613\u4e66\u7c4d\uff0c\u5e76\u4e0d\u662f\u90a3\u4e48\u597d\u3002<span class=\"\">\u6211\u5f97\u5230\u4e86 Trader Vic \u7684\u4e66\u201c\u534e\u5c14\u8857\u5927\u5e08\u7684\u65b9\u6cd5\u201d\u3002<\/span>\u7ef4\u514b\u591a\u662f\u6211\u7684\u597d\u670b\u53cb\u548c\u4f19\u4f34\u3002\u6211\u6709\u5207\u65af\u7279\u00b7\u51ef\u5c14\u7279\u7eb3 (Chester Keltner) \u7684\u4e66\uff0c\u201c\u5982\u4f55\u5728\u5546\u54c1\u4e2d\u8d5a\u94b1\u201d\uff0c\u5c3d\u7ba1\u4e66\u540d\u5f88\u4fd7\u6c14\u3002<\/span><\/p>\n<p><span>\u6709\u4e00\u672c\u5173\u4e8e Keltner \u6e20\u9053\u6f14\u53d8\u7684\u597d\u4e66\u7b49\u7b49\u3002\u6211\u6709 Edwards &amp; Magee\uff0c\u6240\u4ee5\u6211\u6709\u5f88\u591a\u597d\u4e66\uff0c\u6211\u8ba4\u4e3a\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\u53ef\u80fd\u8bf4\u8d77\u6765\u592a\u5bb9\u6613\u4e86\uff0c\u4f46\u6211\u7684\u597d\u670b\u53cb Brian Shannon \u521a\u521a\u5199\u4e86\u4e00\u672c\u5173\u4e8e Anchored VWAP \u7684\u4e66\uff0c\u6211\u8ba4\u4e3a\u5b83\u5f88\u68d2\u3002\u8fd9\u662f\u4e00\u672c\u5f88\u68d2\u7684\u4e66\u3002\u60a8\u53ef\u4ee5\u5c06\u8fd9\u672c\u4e66\u4f5c\u4e3a\u53c2\u8003\u4e66\u6765\u4e86\u89e3\u951a\u5b9a VWAP \u662f\u4ec0\u4e48\uff0c\u4f46\u5b83\u4e5f\u662f\u4e00\u672c\u5267\u672c\uff0c\u5176\u4e2d\u81f3\u5c11\u6709\u4e5d\u79cd\u7b56\u7565\u53ef\u4ee5\u544a\u8bc9\u60a8\u5982\u4f55\u91c7\u7528 VWAP \u5e76\u5c06\u5176\u7528\u4e8e\u60a8\u81ea\u5df1\u7684\u4ea4\u6613\u3002\u73b0\u5728\u53ef\u80fd\u6709\u4e00\u767e\u79cd\u65b9\u6cd5\u53ef\u4ee5\u4f7f\u7528\u5b83\u3002\u4ed6\u8ba8\u8bba\u4e86\u4e5d\u4e2a\u3002\u6211\u4eec\u4eca\u5929\u8981\u8c08\u8c08\u8fd9\u4e9b\u3002\u656c\u8bf7\u5173\u6ce8\u3002\u8fd9\u662f\u5e03\u8d56\u6069\u00b7\u9999\u519c\u3002<\/span><\/p>\n<p><span>\u5927\u5bb6\u597d\uff0c\u6b22\u8fce\u6536\u770b\u672c\u671f\u8282\u76ee\u3002\u6211\u4eec\u6709\u6211\u7684\u597d\u670b\u53cb Brian Shannon\uff0c\u6211\u4e00\u76f4\u5728\u60f3\uff0c\u6211\u4e00\u5b9a\u8ba4\u8bc6 Brian \u5927\u7ea6 20 \u5e74\u4e86\u3002\u6211\u77e5\u9053\u6211\u4eec\u5728\u76ae\u5c14\u65af\u5e03\u9c81\u65af\u5357\u9644\u8fd1\u7684\u9a6c\u91cc\u5e03\u89c1\u8fc7\u9762\uff0c\u662f\u7684\uff0c\u7ecf\u8fc7\u7956\u9a6c\u6d77\u6ee9\uff0c\u5f88\u4e45\u4ee5\u524d\u3002\u7136\u540e\u6211\u77e5\u9053\u6211\u770b\u5230\u4e86\u4f60\uff0c\u56e0\u4e3a\u6211\u4e0d\u5f97\u4e0d\u4f69\u670d\u4f60\u7684\u5de5\u4f5c\u3002\u6211\u60f3\u6211\u662f\u5728\u4e00\u6b21\u6d3b\u52a8\u4e2d\u9047\u5230\u4f60\u7684\uff0c\u5f53\u65f6\u4f60\u6b63\u5728\u8bb2\u8bdd\uff0c\u6216\u8005\u6211\u4eec\u90fd\u5728\u8bb2\u8bdd\uff0c\u6216\u8005\u6211\u4eec\u6b63\u5728\u8bb2\u8bdd\uff0c\u4f46\u5728\u4e0d\u540c\u7684\u65e5\u5b50\u3002\u6211\u8fd8\u8bb0\u5f97\u4e0a\u53bb\u8ddf\u4f60\u6253\u62db\u547c\u3002\u00a0<\/span><\/p>\n<p><span>\u4f19\u8ba1\u4eec\uff0c\u4eca\u5929\u6211\u4eec\u8981\u5e86\u795d\u5e03\u8d56\u6069\u7684\u65b0\u4e66\u3002\u6211\u7684\u610f\u601d\u662f\u5e86\u795d\uff0c\u56e0\u4e3a\u8fd9\u4ef6\u4e8b\uff0c\u6b63\u5982\u6211\u5728\u4ecb\u7ecd\u4e2d\u63d0\u5230\u7684\uff0c\u662f\u8e22\u5c41\u80a1\u7684\u3002\u6211\u8ba4\u4e3a\uff0c\u6b63\u5982\u6211\u63d0\u5230\u7684\uff0c\u5982\u679c\u4f60\u662f\u4e00\u4e2a\u65b0\u4eba\uff0c\u5e76\u4e14\u4f60\u60f3\u5f04\u6e05\u695a\u4f60\u7684\u4f18\u52bf\u5728\u54ea\u91cc\uff0cVWAP \u662f\u4e00\u4e2a\u5f88\u597d\u7684\u8d77\u70b9\uff0c\u56e0\u4e3a\u5b83\u771f\u7684\u544a\u8bc9\u4f60\u8c01\u5728\u4e4e\uff0c\u4ef7\u683c\u662f\u591a\u5c11\u3002\u5e03\u8d56\u6069\uff0c\u795d\u8d3a\u4f60\u5199\u4e86\u8fd9\u672c\u597d\u4e66\u3002\u8fd9\u662f\u4f60\u7684\u7b2c\u4e8c\u672c\u4e66\u3002\u6211\u5728\u67d0\u4e2a\u5730\u65b9\u4e5f\u6709\u53e6\u4e00\u4e2a\u3002\u5b83\u5728\u6211\u7684\u4e66\u67b6\u4e0a\u3002<\/span><\/p>\n<p><span>\u662f\u7684\uff0c\u8c22\u8c22\u3002<\/span><\/p>\n<p><span>\u8bf7\u53bb\u4e70\u8fd9\u672c\u4e66\u3002\u8fd9\u662f\u60a8\u53ef\u4ee5\u82b1\u7684\u6700\u597d\u7684 60 \u7f8e\u5143\u3002\u6211\u4eec\u4eca\u5929\u8981\u8c08\u8c08\u5b83\u3002\u91cc\u9762\u6709\u5f88\u591a\u3002\u8fd9\u5f88\u7cbe\u8f9f\uff0c\u4f46\u662f\u4f19\u8ba1\uff0c\u606d\u559c\u4f60\u3002\u6211\u77e5\u9053\u4f60\u5f97\u5230\u4e86\u5f88\u591a\u597d\u7684\u62a5\u9053\uff0c\u800c\u4e14\u6765\u81ea\u77e5\u9053\u7684\u4eba\uff0c\u4e5f\u77e5\u9053\u5176\u4e2d\u7684\u533a\u522b\u3002\u4e0d\u4ec5\u4ec5\u662f\u8fd9\u4e9b\u5173\u4e8e\u6280\u672f\u5206\u6790\u7684\u4e66\uff0c\u4eba\u4eec\u7ed9\u6211\u5bc4\u6765\u8bc4\u8bba\u526f\u672c\uff0c\u5c31\u50cf\uff0c\u597d\u5427\uff0c\u6211\u5728 Edwards Magee \u770b\u5230\u4e86\u8fd9\u4e2a\u3002\u6211\u5728 Chester Keltner \u7684\u539f\u8457\u4e2d\u770b\u5230\u4e86\u8fd9\u4e00\u70b9\u3002\u6211\u5728\u5a01\u5c14\u65af\u6000\u5c14\u5fb7\u7684\u539f\u8457\u4e2d\u770b\u5230\u8fc7\u8fd9\u4e2a\uff0c\u6216\u8005\u6211\u5728\u8d1d\u62c9\u7684\u4e66 The Playbook \u4e2d\u770b\u5230\u8fc7\u3002\u6240\u4ee5\u8fd9\u90fd\u662f\u6700\u521d\u7684\u60f3\u6cd5\uff0c\u4f19\u8ba1\u3002\u6240\u4ee5\u8fd9\u5bf9\u4f60\u6765\u8bf4\u662f\u4e00\u79cd\u8363\u8a89\uff0c\u56e0\u4e3a\u8fd9\u771f\u7684\u5f88\u96be\u505a\u5230\u3002\u5199\u5f97\u5f88\u597d\u3002<\/span><\/p>\n<p><span>\u8c22\u8c22\u4f60\uff0c\u8fc8\u514b\u5c14\u3002\u8fd9\u610f\u5473\u7740\u5f88\u591a\u6765\u81ea\u4f60\uff0c\u7279\u522b\u662f\uff0c\u6211\u7684\u610f\u601d\u662f\u4f60\u7684\u4e1c\u897f\u3002\u6211\u77e5\u9053\u5f53\u6211\u4eca\u5929\u548c\u4f60\u5750\u4e0b\u6765\u7684\u65f6\u5019\uff0c\u6211\u4eec\u5c06\u8981\uff0c\u6211\u8fd8\u4e0d\u77e5\u9053\u6211\u4eec\u8981\u8c08\u4ec0\u4e48\uff0c\u56e0\u4e3a\u6211\u4eec\u8fd8\u6ca1\u6709\u8ba8\u8bba\u8fc7\uff0c\u4f46\u6211\u77e5\u9053\u8fd9\u4f1a\u53d1\u4eba\u6df1\u7701\uff0c\u56e0\u4e3a\u5f53\u4f60\u6df1\u5165\u7814\u7a76\u5b83\uff0c\u4f60\u6df1\u5165\u7814\u7a76\u5b83\uff0c\u6211\u77e5\u9053\u4f60\u5df2\u7ecf\u8bfb\u8fc7\u5b83\uff0c\u8fd9\u610f\u5473\u7740\u5f88\u591a\u3002<\/span><\/p>\n<p><span>\u662f\u7684\uff0c\u8fd9\u4e1c\u897f\u662f\u6298\u89d2\u5230\u6700\u5927\u3002\u6211\u660e\u767d\u4e86\uff0c\u6211\u5fc5\u987b\u518d\u62ff\u4e00\u4efd\u526f\u672c\u624d\u80fd\u771f\u6b63\u4fdd\u7559\uff0c\u56e0\u4e3a\u8fd9\u4e1c\u897f\u5df2\u7ecf\u88ab\u6253\u8d25\u4e86\u3002\u4f19\u8ba1\u4eec\uff0c\u8fd9\u91cc\u6709\u5f88\u591a\u4e1c\u897f\u3002\u8fd9\u51e0\u4e4e\u5c31\u50cf\u4f60\u4ece\u54ea\u91cc\u5f00\u59cb\uff1f\u4f46\u91cd\u70b9\u662f\uff0c\u6211\u5728\u5ba3\u4f20\u4e2d\u63d0\u5230\u4e86\u8fd9\u4e00\u70b9\uff0c\u8fd9\u662f\u5173\u4e8e\u8fd9\u672c\u4e66\u7684\u53e6\u4e00\u4ef6\u4e8b\u3002\u5c31\u603b\u9875\u6570\u800c\u8a00\uff0c\u5199\u8fc7\u5e7f\u544a\u7684\u4eba\u6bd4\u7d22\u5f15\u8fd8\u591a\u3002\u4e3a\u4e86\u8ba9\u60a8\u4e86\u89e3\u4eba\u4eec\u5bf9 Brian \u548c\u4ed6\u7684\u5de5\u4f5c\u7684\u9ad8\u5ea6\u8bc4\u4ef7\uff0c\u6211\u4ec0\u81f3\u6ca1\u6709\u5938\u5927\u8c01\uff0c\u6709\u4e00\u4e2a\uff0c\u8c01\u77e5\u9053\u4ed6\u4eec\u7684\u5e9f\u8bdd\u5e76\u4e14\u5df2\u7ecf\u52a0\u5f3a\u4e86\u3002\u6240\u4ee5\u5728\u6211\u7684\u8bc4\u8bba\u4e2d\uff0c\u6211\u8bf4\uff0c\u201c\u673a\u6784\u7559\u4e0b\u8db3\u8ff9\u201d\uff0c\u5bf9\u5427\uff1f\u8fd9\u662f\u6211\u4eec\u5171\u540c\u7684\u670b\u53cb\u65af\u79d1\u7279\u00b7\u5361\u660e\u65af\u57fa (Scott Kaminski) \u5728 Tudor \u65f6\u6559\u6211\u7684\u4e00\u4ef6\u4e8b\uff0c\u4ed6\u5c31\u50cf\u662f\u5c0f\u6295\u673a\u8005\uff0c\u5f53\u7136\u4ed6\u4eec\u5f88\u91cd\u8981\u3002<\/span><\/p>\n<p><span>\u4ed6\u4eec\u662f\u91cd\u8981\u4eba\u7269\uff0c\u4f46\u771f\u6b63\u80fd\u63a8\u52a8\u4e8b\u60c5\u53d1\u5c55\u7684\u662f\u673a\u6784\u3002\u7279\u522b\u662f\u5728\u80a1\u6743\u9886\u57df\u3002\u5728\u671f\u8d27\u4e2d\uff0c\u5b83\u6709\u70b9\u4e0d\u540c\uff0c\u56e0\u4e3a\u73b0\u8d27\u5e02\u573a\u9a71\u52a8\u671f\u8d27\u3002\u4f46\u5728\u80a1\u7968\u9886\u57df\uff0c\u7279\u65af\u62c9\u53ea\u6709\u4e00\u79cd\u5de5\u5177\u3002\u5b83\u4e0d\u50cf\u5929\u7136\u6c14\uff0c\u60a8\u5728\u65e5\u5386\u4e0a\u6709 20 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4 \u7f8e\u5143\u7684\u4fc3\u9500\u4ef7\u3002\u6211\u4e0d\u3002\u00a0<\/span><\/p>\n<p><span>\u6240\u4ee5\u8fd9\u91cc\u7b2c\u4e00\u4e2a\u975e\u5e38\u7b80\u5355\u7684\u4f8b\u5b50\u5c31\u662f\u963f\u91cc\u5df4\u5df4\u3002\u7531\u4e8e\u67d0\u79cd\u539f\u56e0\uff0c\u5b83\u5728\u4efb\u4f55\u7ed9\u5b9a\u65f6\u95f4\u51fa\u73b0\u5728\u65b0\u95fb\u4e2d\u3002\u4ece\u6839\u672c\u4e0a\u8bf4\uff0c\u6211\u4eec\u5728\u8fd9\u91cc\u770b\u5230\u7684\u662f 52 \u5468\u9ad8\u70b9\uff0c\u6211\u628a\u8fd9\u4e2a\u951a\u5b9a\u5728\u5927\u7f3a\u53e3\u548c\u7a81\u7834\u4e0a\uff0c\u4f60\u4e5f\u53ef\u4ee5\u5411\u4e0b\u8ffd\u8e2a\uff0c\u770b\u5230\u6210\u4ea4\u91cf\u662f\u85b0\u8863\u8349\u7ebf\u7684\u500d\u6570\uff0c\u8fd9\u53c8\u662f\u4e00\u4e2a\u811a\u6ce8\u6216\u8005\u53ef\u4ee5\u8bf4\u662f\u4e00\u4e2a\u5173\u952e\uff0c\u662f\u6536\u76d8\u91cf\u7684 20 \u5929\u7b80\u5355\u79fb\u52a8\u5e73\u5747\u7ebf\u3002<\/span><\/p>\n<p><span>\u6240\u4ee5\u7eff\u8272\u6761\u5411\u4e0a\u6216\u5411\u4e0b\u3002\u8fd9\u662f\u6765\u81ea Barchart\uff0c\u6211\u53ea\u662f\u4f7f\u7528\u5b83\uff0c\u56e0\u4e3a\u5b83\u662f\u5c11\u6570\u51e0\u4e2a\u53ef\u4ee5\u8986\u76d6\u7684\u951a\u5b9a VWAP \u7684\u5730\u65b9\u4e4b\u4e00\u3002\u6240\u4ee5\u6211\u505a\u4e86\u53e0\u52a0\u53ea\u662f\u4e3a\u4e86\u521b\u9020\u4e00\u4e9b\u652f\u6491\u548c\u963b\u529b\u3002\u6211\u77e5\u9053\u4f60\u4eec\u4e2d\u7684\u4e00\u4e9b\u4eba\u53ef\u80fd\u6b63\u5728\u4f7f\u7528 20 \u6216 50 \u5468\u671f\u6307\u6570\u6216\u7b80\u5355\u79fb\u52a8\u5e73\u5747\u7ebf\u3002\u4f46\u662f\u5e03\u8d56\u6069\uff0c\u5f53\u4f60\u4ec5\u4ec5\u901a\u8fc7\u8fd9\u4e2a\u5728\u4ea4\u6613\u91cf\u5927\u7684\u65f6\u5019\u951a\u5b9a\u8fd9\u4e2a\u5927\u7a81\u7834\u7684\u7b80\u5355\u4f8b\u5b50\u6765\u770b\u5f85\u8fd9\u4e2a\u95ee\u9898\u65f6\uff0c\u4f60\u5bf9\u65b0\u4ea4\u6613\u8005\u6709\u4f55\u89e3\u91ca\uff1f\u4ed6\u4eec\u600e\u4e48\u80fd\u7528\u8fd9\u4e2a\uff1f<\/span><\/p>\n<p><span>\u597d\u5427\uff0c\u6240\u4ee5\u5f53\u6211\u770b\u5230\u5b83\u65f6\uff0c\u8fc8\u514b\u5c14\uff0c\u5982\u679c\u6211\u770b\u5f97\u6b63\u786e\u7684\u8bdd\uff0c\u56db\u5929\u524d\u8fd8\u6709\u53e6\u4e00\u4e2a\u5dee\u8ddd\u3002<\/span><\/p>\n<p><span>\u5bf9\u5bf9\u5bf9<\/span><\/p>\n<p><span>\u8fd9\u91cc\u3002\u81f3\u5c11\u4e24\u4efd\u6536\u76ca\u62a5\u544a\u3002<\/span><\/p>\n<p><span>\u662f\u7684<\/span><\/p>\n<p><span>\u4ed6\u4eec\u662f\u3002\u4ed6\u4eec\u770b\u8d77\u6765\u76f8\u9694\u5927\u7ea6\u4e09\u4e2a\u6708\u3002\u7136\u540e\u6211\u4f1a\u8bf4\u4f4e\u70b9\u53ef\u80fd\u662f\u4e00\u4efd\u6536\u76ca\u62a5\u544a\u3002\u5982\u679c\u4f60\u56de\u5230\u90a3\u4e2a\u7ea2\u8272\u7684\u5927\u97f3\u91cf\u6761\uff0c\u662f\u7684\uff0c\u90a3\u53ef\u80fd\u662f\u4e09\u4e2a\u6708\u524d\u7684\u53e6\u4e00\u4e2a\u4e8b\u4ef6\u3002\u56e0\u6b64\uff0c\u5f53\u5b83\u56de\u5230\u8be5\u6210\u4ea4\u91cf\u52a0\u6743\u5e73\u5747\u4ef7\u683c\u4e0b\u65b9\u65f6\uff0c\u5b83\u770b\u8d77\u6765\u50cf\u662f\u5728\u60a8\u951a\u5b9a\u7684\u4f4d\u7f6e\u4e0a\u51fa\u73b0\u8df3\u7a7a\uff0c\u5e76\u4e14\u5728\u8fd9\u91cc\u6709\u56db\u4e94\u5929\u7684\u65f6\u95f4\u6709\u70b9\u50cf\u6218\u573a\uff0c\u7136\u540e\u8dcc\u7834\u4e86\uff0c\u7136\u540e\u8dcc\u7834\u4e86\u4e94\u5929\u51e0\u5929\u540e\uff0c\u5b83\u5411 AVWAP \u53cd\u5f39\u5e76\u88ab\u5927\u91cf\u629b\u552e\u5b9e\u9645\u4e0a\u6211\u4f1a\u4ece\u90a3\u4e2a\u7f3a\u53e3\u5411\u4e0b\u951a\u5b9a\u53e6\u4e00\u4e2a\uff0c\u56e0\u4e3a\u8fd9\u4f1a\u544a\u8bc9\u6211\u8fd9\u4e00\u70b9\u3002<\/span><\/p>\n<p><span>\u4ece\u90a3\u4e2a\u7f3a\u53e3\u8d70\u4f4e\uff0c\u8fd9\u662f\u53e6\u4e00\u4e2a\u91cd\u5927\u4e8b\u4ef6\uff0c\u5356\u5bb6\u63a7\u5236\u7684\u5e02\u573a\u5fc3\u7406\u53d1\u751f\u4e86\u53d8\u5316\u3002\u800c\u4e14\u6211\u53ef\u80fd\u4f1a\u5728\u5927\u7ea6\u56db\u4e94\u5929\u540e\u6216\u5728\u5b83\u8dcc\u7834\u5f53\u5929\u76d8\u6574\u4e4b\u540e\u951a\u5b9a\u5b83\uff0c\u6211\u4f1a\u8bf4\u8fd9\u662f\u4e00\u4e2a\u91cd\u8981\u4e8b\u4ef6\u3002\u6240\u4ee5\u5f88\u591a\u4eba\u8bf4\u4ec0\u4e48\u65f6\u5019\u4e3b\u64ad\uff1f\u5728\u51fa\u73b0\u7f3a\u53e3\u7684\u90a3\u4e00\u5929\uff0c\u4f60\u628a\u5b83\u951a\u5b9a\u5728\u54ea\u91cc\uff1f\u6211\u559c\u6b22\uff0c\u4f46\u6211\u4e5f\u60f3\u770b\u770b\u5b83\u662f\u5982\u4f55\u56f4\u7ed5\u8be5\u6c34\u5e73\u8fdb\u884c\u4ea4\u6613\u7684\u3002\u6240\u4ee5\u8f89\u714c\uff0c\u73b0\u5728\u662f\u56db\u5929\u524d\u7684\u65b0\u5dee\u8ddd\uff0c\u8fd9\u6210\u4e3a\u6211\u60f3\u8981\u8861\u91cf\u7684\u4e00\u4e2a\u91cd\u8981\u6c34\u5e73\u3002\u7b2c\u4e00\uff0c\u6211\u5e0c\u671b\u770b\u5230\u8fd9\u91cc\u51fa\u73b0\u81ea\u7136\u56de\u8c03\u3002\u5982\u679c\u5b83\u80fd\u4fdd\u6301\u5728\u60a8\u5728\u90a3\u91cc\u7ed8\u5236\u7684 VWAP \u4e4b\u4e0a\uff0c\u90a3\u5c31\u592a\u597d\u4e86\u3002\u7136\u540e\u6211\u60f3\u770b\u770b\u5b83\u662f\u5426\u4ece\u56db\u5929\u524d\u5f00\u59cb\u8dcc\u7834\u951a\u70b9\uff0c\u7136\u540e\u5f00\u59cb\u5de9\u56fa\u4e00\u70b9\uff0c\u7136\u540e\u5f00\u59cb\u65b0\u7684\u8d70\u52bf\u3002\u6240\u4ee5\u8fd9\u662f\u4e00\u4e2a\u65b0\u7684\u52bf\u5934\u8fd0\u52a8\u3002\u5b83\u5728\u90a3\u4e2a\u7f3a\u53e3\u4e0a\u51fa\u73b0\u4e86\u90a3\u4e48\u5927\u7684\u4f53\u79ef\u3002\u6240\u4ee5\u8fd9\u663e\u7136\u662f\u4e00\u4e2a\u65b0\u7684\u951a\u5b9a\u6c34\u5e73\u3002<\/span><\/p>\n<p><span>\u6240\u4ee5\u8fd9\u5c31\u662f\u6211\u4eec\u8fdb\u5165\u591a\u4e2a\u65f6\u95f4\u6846\u67b6\u7684\u5730\u65b9\u3002\u5982\u679c\u60a8\u6b63\u5728\u67e5\u770b\u60a8\u60f3\u8981\u5171\u8f6d\u4ee5\u786e\u4fdd\u5982\u679c\u60a8\u6b63\u5728\u67e5\u770b\u65e5\u5185\u30015 \u5206\u949f\u67f1\u7ebf\u300165 \u5206\u949f\u67f1\u7ebf\uff0c\u60a8\u60f3\u8981\u786e\u4fdd\u6709\u5076\u6570\u4e2a\u67f1\u7ebf\uff0c\u8fd9\u4e5f\u5728 Brian \u7684\u4e66\u4e2d\u3002\u7136\u540e\u5728\u8fd9\u4e9b\u4e0d\u540c\u7684\u65f6\u95f4\u95f4\u9694\u4e4b\u95f4\u7ed3\u5408\u8d8b\u52bf\u884c\u4e3a\uff0c\u56e0\u4e3a\u4e00\u5929\u7684\u8d8b\u52bf\u80af\u5b9a\u4f1a\u5f88\u5f3a\u5927\uff0c\u4f46\u662f\u60a8\u53ef\u4ee5\u901a\u8fc7\u67e5\u770b\u591a\u4e2a\u65f6\u95f4\u8303\u56f4\u6765\u786e\u5b9a\u5bf9\u60a8\u6709\u5229\u7684\u53ef\u80fd\u6027\u3002\u90a3\u662f\u5e03\u8d56\u6069\u7684\u7b2c\u4e00\u672c\u4e66\uff0c\u591a\u4e2a\u65f6\u95f4\u6846\u67b6\u3002\u6240\u4ee5\u8c08\u8c08\u67e5\u770b\u951a\u5b9a VWAP \u7684\u91cd\u8981\u6027\uff0c\u800c\u4e0d\u4ec5\u4ec5\u662f\u8fd9\u4e2a\u65e5\u7ebf\u56fe\u3002\u662f\u7684\uff0c\u8c08\u8bba\u5728\u65e5\u5185\u6c34\u5e73\u751a\u81f3\u5728\u5404\u79cd 30 \u5206\u949f\u67f1\u7ebf\u300165 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