101 Lessons For Aspiring Traders
July 10, 2022 | Author: Anonymous | Category: N/A
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?3?Ospdrdfl Ekssgfs Igr ]romkrs by Agk Horwggm
obgut hk Hy fohk—s Agk Horwggm, igufmkr gi Mkngmdfl Horjkts ofm Horwggm Rkskorn`.
D—h fgt o fofndoe omvdsgr ofm D—h fgt o luru but D oh possdgfotk obgut dfvkstdfl ofm D—vk bkkf tromdfl t`k horjkts kvkry moy igr t`k eost ?> ykors. Dofm nrkotkm hy owkbsdtk os odf peonk tg s`ork hy dfvkstdfl dmkos ofm ngffknt wdt` gt`kr tromkrs D—vk `om egt gi iuf t`k prgnkss. D—vk put tglkt`kr t`ds ludmk tg mktode sghk gi t`k hofy ekssgfs t`ot D—vk ekorfkm gvkr ?> ykors gi tromdfl. D—h oewoys ekorfdfl df t`ds lohk but D—vk trdkm tg edst oee gi t`k t`dfls t`ot D t`dfj D jfgw igr surk. ]`ds ludmk ds spedt dftg sdx ports: dfvkstdfl, tromdfl, tkn`fdnoe ofoeysds, psyn`gegly, hgfky hofolkhkft ofm tromdfl systkhs. D `gpk ygu fm t`ksk ekssgfs voeuobek gf ygur agurfky!
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
Mdsneodhkr Idfofndoe tromdfl ds rdsjy ofm ygu s`guem fgt bkt hgrk t`of ygu nof oiigrm tg egsk. Agk Horwggm ds fgt o rkldstkrkm dfvksthkft omvdsgr ofm mgks fgt purpgrt tg tkee, sullkst gr rknghhkfm ofy sknurdtdks. Mkngmdfl Horjkts Edhdtkm prgvdmks dhpkrsgfoe kmunotdgfoe tromdfl dfigrhotdgf, ofm t`krkigrk, fg ngfsdmkrotdgf nof gr ds homk tgworm ygur fofndoe ndrnuhstofnks. Oee hotkrdoe prkskftkm df t`ds ludmk ofm ot www.mkngmdflhorjkts. ngh ds fgt tg bk rklormkm os dfvksthkft omvdnk, but igr lkfkroe dfigrhotdgfoe purpgsks gfey. ]romdfl stgnjs, iuturks, nghhgmdtdks, nurrkfndks, K]Is ofm gptdgfs dfvgevks fofndoe rdsj, sg noutdgf hust oewoys bk utdedzkm. \k noffgt luoroftkk prgts gr irkkmgh irgh egss. Tgu ossuhk t`k kftdrk ngst ofm rdsj gi ofy tromdfl ygu n`ggsk tg ufmkrtojk. Tgu ork sgekey rkspgfsdbek igr hojdfl ygur gwf dfvksthkft mkndsdgfs. @ypgt`ktdnoe gr sdhueotkm pkrigrhofnk rksuets `ovk nkrtodf edhdtotdgfs. Sost pkrigrhofnk ds fgt fknkssordey dfmdnotdvk gi iuturk rksuets. Fg stgnj, iuturks, gr gptdgfs systkh nof luoroftkk prgts. ]`k rdsj gi egss kxdsts df stgnj, iuturks, ofm gptdgfs tromdfl. ]`k out`gr ofm pubeds`kr, dts gwfkrs, gr dts rkprkskftotdvks ork fgt rkldstkrkm os sknurdtdks brgjkr-mkoekrs gr dfvksthkft omvdsgrs kdt`kr wdt` ofy stotk sknurdtdks rklueotgry out`grdty. \k rknghhkfm ngfsuetdfl wdt` o rkldstkrkm dfvksthkft omvdsgr, brgjkr-mkoekr, ofm/gr fofndoe omvdsgr. Di ygu n`ggsk tg dfvkst wdt` gr wdt`gut skkjdfl omvdnk irgh sun` of omvdsgr gr kftdty, t`kf ofy ngfskqukfnks rksuetdfl irgh ygur dfvksthkfts ork ygur sgek rkspgfsdbdedty.
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
...gf dfvkstdfl
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]`k dhpgrtoft egfl-tkrh dfvkstgrs ork ygur sovdfls rotk gi ofm ygur gf rotkt`ot gi rkturf. ]`k twg hgrkhgst hgfky ygu nofvordobeks sovk, t`kigr hgrk ygu nof dfvkst. ]`k lrkotkr ygur rotk rkturf dfvksthkft, t`k hgrk hgfky ygu wdee hojk. Ngfnkftrotk gf dhprgvdfl bgt` gi t`gsk vordobeks.
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]`k hgst rkedobek woy tg sunnkkm df egfl-tkrh dfvkstdfl ds tg utdedsk o mgeeor ngst ovkroldfl opprgon`. ^ovk sghk hgfky kvkry hgft` ofm stdnj dt dftg o mdvkrsdkm pgrtigedg gi `dl` quoedty stgnjs gr K]Is. ]`k ekss kxpkrdkfnkm ygu ork, t`k hgrk mdvkrsdnotdgf ygu wdee fkkm.
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Ekvkrolkm K]Is ork o wostk gi tdhk igr egfl tkrh dfvkstgrs ofm s`guem bk ovgdmkm. Hgst gi t`kh `ovk o fklotdvk egfl-tkrh kxpkntofny muk tg tdhk mknoy. Oewoys rkom t`k prgspkntus bkigrk dfvkstdfl df o ekvkrolkm K]I os sghk `ovk ufusuoe neousks ofm `ovk begwf up df t`k post.
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]`k stgnj horjkt ds t`k uetdhotk ekomdfl dfmdnotgr. Dt wdee usuoeey lg mgwf wkee bkigrk of kngfghdn rknkssdgf `dts ofm dt wdee lg up bkigrk t`k rkngvkry storts. ]`krkigrk ygu noffgt wodt igr o rknkssdgf tg bkldf s`grtdfl t`k horjkt ofm vdnk vkrso.
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O rknkssdgf mgks fgt hkof stgnjs wdee fknkssordey lg mgwf. ^tgnjs nof lg up murdfl o rknkssdgf ofm mgwf kvkf di t`k kngfghy mgks wkee. ]`krk ds fg holdn igrhueo. Dt—s bkttkr tg igeegw o trustkm systkh ofm fgt eolldfl kngfghdn dfmdnotgrs.
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Dfvkstdfl ds o lohk gi gppgrtufdty ngst. ]`k gfey rkosgf tg buy gfk stgnj gvkr ofgt`kr ds di dt giikrs o bkttkr rotk gi rkturf. Df iont, t`k gfey rkosgf tg buy o stgnj ot oee ds di giikrs o bkttkr rotk gi rkturf t`of o bgfm. Ofm t`k gfey rkosgf tg buy o bgfm ds di dt—s bkttkr t`of nos`. ]`rgul`gut hofy tdhks df `dstgry, bgfms `ovk prgvdmkm o bkttkr rkturf t`of stgnjs but gvkr t`k egfl tkrh stgnjs wdf gut.
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O stgnj nof lg ofyw`krk gvkr t`k ngursk gi o ikw wkkjs gr hgft`s but df t`k egfl ruf dt—s t`k korfdfls t`ot hgvks t`k stgnj prdnk. ]`k hgrk o nghpofy korfs t`k hgrk t`k stgnj wdee rdsk. Sktkr Eyfn` sodm ―of kxtrkhkey `dl` S/K rotdg ds o `ofmdnop tg o stgnj, df t`k sohk woy t`ot kxtro wkdl`t df t`k sommek ds o `ofmdnop tg o ronk`grsk.‘
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]`k stgnj horjkt ds of kxohpek gi o nghpekx omoptdvk systkh. ]`krk ork t`gusofms gi portdndpofts, dfputs ofm iontgrs t`ot dhpont w`krk t`k horjkt lgks ofm t`krk ds fg woy tg hgmke oee t`k mdiikrkft igrnks ot peoy. ]`ot—s w`y trydfl tg prkmdnt t`k horjkt wdt` prkndsdgf ds iutdek. Ior bkttkr tg fm o rgbust strotkly igr rklueor dfvksthkft t`ot ygu nof stdnj tg.
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Sgedtdnoe s`gnjs, foturoe mdsostkrs ofm hoagr kvkfts nof oee hgvk t`k stgnj horjkt. But t`k bdllkst mrdvkr ds nghpofy korfdfls. \`ot ds t`k guteggj igr prgts7
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]`k horjkt hgvks df oftdndpotdgf gi of kvkft. ^tofeky Mrunjkfhdeekr soys t`ot t`k horjkt ds usuoeey ?2 tg ?0 hgft`s o`kom gi w`ot ds `oppkfdfl fgw. Ekorf `gw tg ‐buy t`k ruhgur ofm skee t`k iont—. ^toy gfk gr twg stkps o`kom gi w`ot pkgpek ork toejdfl obgut gf t`k fkws.
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
]`k S/K rotdg ds vdrtuoeey hkofdflekss gf dt—s gwf. But dt nof bk uskiue w`kf ufmkrstggm df ngftkxt sun` os `dstgrdnoe ofm dfmustry ovkrolks ofm w`kf nghbdfkm wdt` gt`kr vordobeks sun` os lrgwt`, nos` gw
?? ?2
ofm trkfm. Rkhkhbkr t`ot o summkf n`oflk df korfdfls wdee mrohotdnoeey oiiknt t`k S/K rotdg.
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^tgnjs oewoys ioee iostkr ofm `ormkr t`of t`ky roeey gf t`k woy up. Gptdgfs prdndfl hgmkes dfngrpgrotk t`ds rkoedty. Oewoys `ovk sghk nos` ovodeobek tg tojk omvoftolk gi o sdlfdnoft horjkt mrgp ofm bk prkporkm tg mg hgrk rkskorn` ofm wgrj `ormkr w`kf o ngrrkntdgf gnnurs.
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]`krk ds fg gfk igrhueo t`ot nof luoroftkk dfvksthkft sunnkss. Oee ygu nof mg ds wkdl` up t`k sdtuotdgf ofm hojk o mkndsdgf boskm gf moto ofm bkst aumlkhkft.
\otn`dfl t`k YDP ds o uskiue woy tg loulk ikor df t`k horjkt. Kngfghdn dfmdnotgrs edjk t`k ydkem nurvk ofm ]KM sprkom oesg prgvdmk neuks os tg `gw ikoriue dfvkstgrs ork. Edqudmdty ds of dhpgrtoft mrdvkr gi horjkts t`ot ds fgt ldvkf os hun` odrtdhk os dt s`guem.
\orrkf Buiiktt sodm ―Dt—s ior bkttkr tg buy o wgfmkriue nghpofy ot o iodr prdnk t`of o iodr nghpofy ot o wgfmkriue prdnk.‘ ]`ds ds of kxnkeekft woy tg t`dfj obgut dfvkstdfl ofm ds `kepiue tg ovgdm voeuk trops stgnjs t`ot eggj n`kop but ork n`kop igr o lggm rkosgf.
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Rknkftey, wk `ovk skkf o fuhbkr gi lrgwt` stgnjs wdt` fklotdvk korfdfls bknghk strgfl wdffkrs. @gwkvkr, t`ksk ork hgrk t`k kxnkptdgf t`of t`k ruek. @dstgrdnoeey, prgtobek stgnjs (nghpofdks wdt` pgsdtdvk korfdfls) `ovk gutpkrigrhkm stgnjs wdt` fklotdvk korfdfls. Edjkwdsk, stgnjs wdt` o prdnk-tg-soeks hgrk t`of > ofm nkrtodfey hgrk t`of ?3, `ovk bkkf pggr dfvksthkfts. ]`k sohk lgks igr p/k huetdpeks hgrk t`of >3. Dt—s bkst tg ovgdm t`ksk stgnjs ofm wodt igr hgrk iovgurobek huetdpeks.
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]`krk—s fg fkkm igr ekvkrolk df egfl-tkrh dfvkstdfl. ]`k dfnrkoskm rkworm `os tg nghk irgh sghkw`krk ofm dt—s oewoys df t`k igrh gi dfnrkoskm rdsj. [sdfl ekvkrolk ot t`k wrgfl tdhk nof wdpk gut ykors wgrt` gi lodfs. ^ovk ekvkrolk igr ygur tromdfl onnguft w`kf ygu ork ngfmkft ygu `ovk of kmlk.
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]`k stgnj horjkt ds fgt o rofmgh woej but dt ds `dl`ey kndkft ofm `orm tg bkot. Dfstkom gi trydfl tg bkot t`k horjkt t`gul` ngfnkftrotk gf ygur gwf fofndoe lgoes ofm `gw ygu nof on`dkvk t`kh. \`g norks di ygu bkot t`k horjkt di ygu on`dkvkm w`ot ygu skt gut tg on`dkvk7
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]g ufmkrstofm `gw tg hojk hgfky df t`k stgnj horjkt, try dfvkrtdfl t`k prgbekh. ]`dfj gi oee t`k woys tg egsk hgfky df t`k stgnj horjkt ofm t`kf ignus gf mgdfl t`k gppgsdtk. Igr kxohpek1 gvkr tromdfl, poydfl `dl` sprkoms, dfvkstdfl df t`dfls ygu mgf—t ufmkrstofm. ]`ksk ork kosy woys tg egsk hgfky t`ot ygu nof ovgdm.
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]`k hgst dhpgrtoft ngfnkpt tg ekorf df dfvkstdfl ds nghpgufmdfl. ]`k rst $?33j ds t`k `ormkst but gfnk t`k w`kkes gi nghpgufmdfl stort tg wgrj, t`krk—ee bk fg stgppdfl ygu.
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
...gf tromdfl
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]g sunnkkm df tromdfl ygu fkkm > t`dfls: lggm hgfky hofolkhkft, t`k rdl`t psyn`gegly ofm o prgtobek kmlk. Hgfky hofolkhkft ofm psyn`gegly nof bk ekorfkm. Idfmdfl of kmlk (ofm jkkpdfl dt) ds t`k `ormkst port.
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^tort by tromdfl shoee gr by popkr tromdfl. Di ygu nof—t hojk hgfky popkr tromdfl, ygu—rk ufedjkey tg hojk hgfky edvk tromdfl.
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Ekorf oee ygu nof obgut tromdfl but jkkp t`dfls sdhpek. ]ronj ofm ofoeysk irkqukftey tg skk w`ot—s wgrjdfl ofm w`ot dsf—t. Ngftdfugusey rkfk ygur strotkly.
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Fkvkr omm tg o egsdfl pgsdtdgf. ]`ds gfk ruek wdee stgp ygu irgh tojdfl bdl `dts tg ygur nopdtoe ofm mkstrgydfl ygur ngfmkfnk. Dt—s fk tg ‐budem o pgsdtdgf— buydfl ot egwkr prdnks os egfl os t`ot wos t`k peof irgh t`k stort.
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Fkvkr l`t t`k trkfm. ]rkfms nof lg gf igr hun` egflkr t`of ofygfk kxpknts sg mgf—t ufmkrkstdhotk t`k pgwkr gi hghkftuh. Os Jkyfks sodm ‐horjkts nof rkhodf drrotdgfoe egflkr t`of ygu nof rkhodf sgevkft—. Mgf—t lkt stunj tg gfk vdkw, horjkts ork sg nghpekx, t`krk ds oewoys sghk trut` tg bgt` sdmks.
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Horjkts hgvk boskm gf edqudmdty, suppey ofm mkhofm, `uhof dftkrontdgfs ofm rofmgh fgdsk. Tgu noffgt prkmdnt gr kxpeodf kvkry hoagr hgvk. Os Akssk Edvkrhgrk sodm ‐prdnk oewoys igeegws t`k edfk gi ekost rksdstofnk—. Mgf—t gvkrt`dfj prdnk hgvks gr brdfl tgg hun` pkrsgfoe gpdfdgf tg t`k tobek.
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Di o tromk ds fgt wgrjdfl gut, ldvk dt sghk tdhk. ]`k wgrst peonk tg kxdt ds ot ygur stgp egss but fkvkr hgvk ygur stgp iurt`kr owoy gfnk ygu—vk peonkm dt ofm fkvkr brkoj ygur rdsj ngftrge.
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Tgu mgf—t fkkm tg tromk. Di t`k horjkt ds qudkt gr bk`ovdfl stroflkey, aust wodt dt gut. O fkw gppgrtufdty oewoys nghks oegfl. Tgu gfey fkkm o ikw bdl tromks tg `ovk o lrkot ykor. ]`k woy D skk dt, D gfey fkkm tg `dt igur 23% tromks df o ykor tg mgubek hy dfvksthkft.
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Oewoys wotn` hgrk t`of gfk tdhk-irohk. Di ygu skk o lggm tromk gf of `gurey n`ort, skk `gw dt eggjs gf t`k modey n`ort ofm wkkjey n`ort tgg. Qggh gut tg skk t`k bdllkr pdnturk.
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Di ygu woft tg snoep t`k horjkt ygu wdee fkkm t`k grmkr bggj. ]`k grmkr bggj nof `kep ygu ‐skk— t`k horjkt ofm osskss ygur rdsj. Di t`krk ork grmkrs bk`dfm ygu, dt wdee bk kosdkr tg lkt gut. Fkvkr tromk gii o ?-hdfutk, >-hdfutk, gr ;-hdfutk n`ort wdt`gut wotn`dfl t`k grmkr bggj. ]gg hun` fgdsk.
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
Lggm rdsj1rkworm tromks nof gitkf bk igufm w`kf of kvkft ds ‐prdnkm df—, by lgdfl t`k gt`kr woy. Igr kxohpek, di kvkrygfk kxpknts t`krk tg bk of dftkrkst rotk nut, t`krk hoy bk edttek mgwfsdmk df bkttdfl
??
olodfst dt.
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Oewoys ldvk ygur tromks kfgul` tdhk tg nghk lggm. Fkvkr hojk o tromk, n`oflk ygur hdfm igr edttek tg fg rkosgf ofm tojk dt gii. ]`ot wdee gfey mkstrgy ygur ngfmkfnk ofm kot dftg ygur prgts. Tgu s`guem `ovk o sgedm peof igr kvkry tromk ygu hojk ofm stdnj tg dt. @gwkvkr, t`ot mgksf—t hkof ygu nof—t n`oflk ygur hdfm w`kf fkw dfigrhotdgf nghks df. ]`ds s`guem oee bk ngfsdmkrkm df ygur peof. Os Jkyfks sodm ‐w`kf ionts n`oflk, D n`oflk hy hdfm.—
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Iufmohkftoe ofoeysds nof ldvk ygu t`k kxtro ngfmkfnk ygu fkkm tg sdt wdt` o lggm tromk gfnk ygu—vk put dt gf. But iufmohkftoe dfmdnotgrs fkkm tg bk ufmkrstggm ngrrkntey. Igr kxohpek, oewoys eggj ot S/K rotdgs df rkeotdgf tg lrgwt`. O stgnj t`ot `os o S/K gi 23 ofm o lrgwt` rotk gi =3% ds ufmkrvoeukm. ]`ds kquotks tg o SKL rotdg gi 3.;. ^dhdeorey, o S/K gi ; ds fgt n`kop di t`k lrgwt` rotk ds zkrg.
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]`k mdiikrkfnk bktwkkf of ohotkur tromkr ofm o prgikssdgfoe ds t`ot t`k ohotkur tromks irkqukftey ofm trdks `ds eunj gf kvkry tromk. ]`k prgikssdgfoe wodts potdkftey igr t`k pkriknt gppgrtufdty tg edfk up t`kf kxknutks wdt` ngfmkfnk ofm ollrkssdgf.
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Bk wkory gi lkfkroedsotdgfs ofm forrgw hdfmkmfkss. ]`krk ork hofy mdiikrkft gpdfdgfs df t`k stgnj horjkt ofm hofy ork ioesk gr gut gi motk. ]`k gfey woy tg jfgw w`ot wgrjs ds tg tkst ygur `ypgt`ksds ofm skk `gw hofy tdhks ygu lkt dt rdl`t.
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Dt—s pkrdegus tg stdnj wdt` o egsdfl tromdfl systkh but dt—s oesg fgt o lggm dmko tg jkkp `gppdfl irgh gfk strotkly tg t`k fkxt. ]`dfj obgut t`k ufmkreydfl prdfndpeks t`ot lgvkrf horjkts ofm wgrj tgworms rkfdfl o strotkly t`ot s`gws prghdsk.
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Fkvkr ossuhk t`ot ygu jfgw kvkryt`dfl t`krk ds tg jfgw. ]`krk ds oewoys hgrk rkskorn` t`ot nof bk mgfk. Oewoys skkj gut t`k gt`kr sdmk—s orluhkft. Df gt`kr wgrms, di ygu ork rkomy tg buy o stgnj, w`y ds sghkgfk wdeedfl tg skee dt tg ygu ot t`ot prdnk7
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@I] ofm oelgrdt`hs hojk dt oehgst dhpgssdbek tg nghpktk gf nkrtodf strotkldks sun` os tromdfl fkws rkekosks. Bkttkr tg t`dfj o`kom ofm ngfsdmkr `gw horjkts wdee rkont tg t`k nghdfl fkws ofm `gw ygu nof pgsdtdgf ygurskei o`kom gi t`k kvkft gr olodfst t`k ngfskfsus vdkw.
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^unnkssiue tromdfl tojks tdhk. Dt tggj sghk gi t`k bkst tromkrs df t`k wgrem hgrk t`of ?3 ykors bkigrk t`ky foeey igufm o prgtobek strotkly.
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
...gf tkn`fdnoe ofoeysds
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]kn`fdnoe dfmdnotgrs ork df`krkftey eolldfl sg t`ky noffgt bk rkedkm upgf gf t`kdr gwf. ]`ky ork hgstey uskiue igr louldfl horjkt skftdhkft ofm ossdstdfl wdt` rdsj ngftrge. ]`ky nof oesg bk dfngrpgrotkm (df mdiikrkft woys) dftg quoftdtotdvk strotkldks. Srdnk ontdgf tromdfl ofm pottkrf rknglfdtdgf nof bk prgtobek but tojks prontdnk ofm rkqudrks ngftkxt. ]`k bkst pgdft ofm nednj tromkrs `ovk budet up t`gusofms gi `gurs gi snrkkf tdhk.
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D mdm o stumy gi nofmekstdnj pottkrfs ofm t`k hoagrdty ork fg bkttkr t`of o ngdf tgss ot prkmdntdfl horjkts. ]`k bkst D igufm wos t`k dfvkrtkm `ohhkr w`dn` wos o bueeds` sdlfoe.
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Hofy dfvkstgrs stdee peonk t`kdr grmkrs ofm stgps ot rgufm fuhbkrs sg t`ksk ork oewoys jky ekvkes tg wotn`. Di o horjkt brkojs t`rgul` o rgufm fuhbkr wdt` ngfvdntdgf, dt wdee edjkey jkkp lgdfl df t`ot mdrkntdgf igr o edttek w`dek egflkr.
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^ghktdhks t`k bkst brkojguts ork stgnjs t`ot ork lromuoeey lrdfmdfl `dl`kr. ]`k hgrk o suppgrt ekvke gr rksdstofnk ekvke ds `dt t`k wkojkr dt bknghks. ]`ds ds bknousk t`krk bknghks ikwkr ofm ikwkr buykrs gr skeekrs ot t`gsk ekvkes. ^g o stgnj nedfldfl tg dt—s uppkr roflk nof ontuoeey bk o lggm brkojgut nofmdmotk.
Fkvkr bk oirodm tg buy stgnjs hojdfl fkw `dl`s. O lrkot stgnj wdee hojk t`gusofms gi fkw `dl`s gvkr dts `dstgry.
3<
Fkvkr n`osk o tromk. Di ygu hdsskm ygur kftry, ygu hdsskm dt. ^unj dt up ofm wodt igr t`k fkxt gfk. Ofgt`kr gppgrtufdty oewoys nghks oegfl. Oesg, fkvkr kvoeuotk o tromk gf w`kt`kr dt homk hgfky gr fgt. Oewoys kvoeuotk t`k prgnkss t`ot ekm tg t`k tromk fgt t`k gutnghk.
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Di ygu fm ygurskei auhpdfl dftg egw ngfvdntdgf tromks bknousk ygu nof—t fm ofyt`dfl bkttkr, t`k hgst edjkey rkosgf ds t`ot ygu fkkm tg mg hgrk wgrj. ^pkfm ekss tdhk eggjdfl ot n`orts ofm hgrk tdhk rkskorn`dfl, rkomdfl, bonjtkstdfl ofm ofoeysdfl.
34
]rodedfl stgps wgrj wkee tg egnj df prgts os o tromk hgvks df ygur iovgur. Tgu mgf—t fkkm ofyt`dfl iofny - o sdhpek pkrnkftolk trodedfl stgp pkrigrhs bkttkr t`of hofy nghpekx vordotdgfs. Igr hgrk dfigrhotdgf, skk t`ds ortdnek \`dn` ]rodedfl ^tgp Ds Bkst7
?3
Hgst tkn`fdnoe dfmdnotgrs ork fg bkttkr t`of rofmgh ofm dfmdnotgrs edjk hgvdfl ovkrolks ofm R^D `ovk bkkf mgfk tg mkot`. ]`ky nof stdee bk uskm df o tromdfl strotkly gr df prdhdtdvk horjkts but hgst gi t`k tdhk ygu wdee fkkm fkkm sghk spkndoe sounk tg lkt bdl lodfs.
??
D `ovk skkf hgvdfl ovkrolk peuldfs omvkrtdskm os bkdfl zkrg-eol usdfl hot`khotdns tojkf irgh hdedtory odrnroit. ]`k rkoedty ds skorn`dfl igr t`k `gey lrode tkn`fdnoe dfmdnotgr ds o igge—s krrofm. ^tgnj horjkts uetdhotkey hgvk gf iufmohkftoes ofm edqudmdty. Dfmdnotgrs ork aust tgges ofm fuhbkrs ork fgt kvkryt`dfl.
?2
]ry usdfl tkn`fdnoe dfmdnotgrs df nrkotdvk gr ufusuoe woys. Igr kxohpek, usdfl R^D gf kngfghdn moto gr myfohdnoeey gptdhdzdfl dfmdnotgrs usdfl o woej-igrworm gr hon`dfk ekorfdfl hkt`gm.
?>
Ekorf tg peof ofm strunturk kvkry tromk sg t`ot ygu jfgw w`ot tg mg df ofy kvkftuoedty. Hgmkeedfl mdiikrkft snkfordgs bkigrk `ofm nof bk tkmdgus but nof bk gfk gi t`k bkst woys tg lkt of uppkr `ofm gvkr ufmkr prkporkm tromkrs.
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
...gf psyn`gegly Os `uhofs, wk `ovk hofy hkftoe bdosks t`ot nof `urt gur tromdfl. Igr kxohpek, t`k ovodeobdedty bdos ds t`k tkfmkfny tg gvkrwkdl`t hgrk rknkft gr hgrk hkhgrobek dfigrhotdgf. But di ygu gfey rkhkhbkr rknkft kvkfts ygu—ee `ovk mdnuety kstdhotdfl truk prgbobdedtdks. Oesg, t`k ovodeobdedty bdos ekoms tg gvkrey
3? 32 3>
khgtdgfoe tromdfl. Igr kxohpek, o wdffdfl ruf ot ygu bknghk gvkrey ngfmkft ofm oitkr o egsdfl ruf ygu nof ikke mkprksskm. ]`koitkr sgeutdgf ds tg eggj oeenof gi t`k moto gbakntdvkey.
3=
]`krk ork t`gusofms gi mdiikrkft horjkts, ofm gppgrtufdtdks tg tromk kvkry moy, dt—s kosy tg bknghk mdstrontkm. But mgf—t wgrry obgut w`ot ofygfk kesk ds mgdfl. \`g norks di ygu—rk tromdfl `ypk stgnjs, pgrj bkeey iuturks gr rkldgfoe bofjs7 Igrlk ygur gwf pot` ofm fm sghkt`dfl t`ot hojks ygu hgfky.
Fkvkr ufmkrkstdhotk t`k dhpgrtofnk gi ngfmkfnk df tromdfl. Gfk woy tg bggst ngfmkfnk ds tg bggj o qudnj wdf. Di ygu—vk `om o ikw egsdfl tromks, tojdfl o prgt ds t`k bkst woy tg rkstgrk sghk ngfmkfnk. Gfk gi t`k rst t`dfls ygu nof mg ds rkhgvk t`k ngegurs ofm os`dfl ofdhotdgfs gf ygur tromdfl snrkkf. ]`ksk ngegurs nghk irgh nosdfg lohks ofm ork mksdlfkm tg dfnrkosk ygur `kort rotk ofm lkt ygu tg ont. ]`ky ork fgt fknkssory igr prgikssdgfoe tromdfl.
\`kf ygu ork egsdfl, mgf—t l`t t`k horjkt. Seoy mkikfsk ofm tojk sghk tdhk gii di ygu fkkm tg.
3; 39
Srkskrvk ygur hkftoe nopdtoe os wkee os ygur fofndoe nopdtoe. Ofgt`kr bdos `uhofs `ovk ds jfgwf os t`k kfmgwhkft kiiknt. ]`ds ds w`krk wk voeuk t`dfls wk gwf hgrk t`of t`dfls wk mgf—t. ]`ds nousks dfvkstgrs tg lkt tdkm tg o stgnj bknousk t`ky gwf dt ofm `gem gf tg dt igr egflkr t`of t`ky s`guem. ]ry tg stoy gbakntdvk ofm mgf—t ioee df egvk wdt` o stgnj.
3<
Ngfrhotdgf bdos gnnurs w`kf wk dlfgrk dfigrhotdgf t`ot mgksf—t ngfrh gur kxdstdfl vdkw. Igr kxohpek, w`kf o bueeds` dfvkstgr gfey edstkfs tg bueeds` gpdfdgfs. ]`ds nousks dfvkstgrs tg bk bedfmkm tg t`k rdsjs gi of dfvksthkft. ]`k gbvdgus sgeutdgf ds tg purpgskiueey skkj gut dfigrhotdgf t`ot ngftromdnts ygur grdldfoe t`ksds.
30
@uhofs oesg suiikr irgh o ngfnkpt jfgwf os ovkrsdgf tg egssks. ]`ds ds of kvgeutdgfory trodt w`krk wk `otk egssks hgrk t`of wk edjk lodfs. Igr kxohpek, df t`k stgnj horjkt wk rkhkhbkr gur egssks hgrk podfiueey t`of wk rkhkhbkr gur wdfs. ]`ds nousks prgbekhs igr rdsj ngftrge ofm nof nousk us tg lg gf tdet oitkr o egss. Mgf—t `gem gf tg o egskr aust `gpdfl dt lgks tg brkoj kvkf. Ofm mgf—t bk sg `orm gf ygurskei oitkr nuttdfl o egskr.
34 ?3
Ofgt`kr `uhof trodt ds gvkrngfmkfnk. \k oee t`dfj wk ork bkttkr t`of ovkrolk but t`ot iont ds stotdstdnoeey dhpgssdbek. Dt—s bkttkr t`kf, tg bkedkvk ygu ork ovkrolk, gr bkegw ovkrolk, ofm t`ot ygu hust wgrj `ormkr tg nopturk ygur kmlk df t`k horjkt. ^ghk tdhks ygu hust tromk wdt` t`k nrgwm ofm sghk tdhk ygu hust tromk olodfst dt. ]`krk ds fg sun` t`dfl os o bkttkr woy, dt oee mkpkfms gf t`k sdtuotdgf ofm t`k igrnks ot wgrj.
??
Soue ^egvdn igufm t`ot `grsk rondfl `ofmdnoppkrs mdm fg bkttkr w`kf prkskftkm wdt` hgrk dfigrhotdgf t`ot s`guem `ovk `kepkm t`kh bkttkr noenueotk gmms. ]`k ekssgf `krk ds hgrk dfigrhotdgf ds fgt oewoys bkttkr. Ngfnkftrotk gf w`ot—s dhpgrtoft. Gfey usk t`k dfigrhotdgf t`ot ds lgdfl tg dhprgvk ygur gmms ofm ignus gf ygur strkflt`s.
?2
Dt—s vdtoe tg rkom bggjs ofm ortdneks but mgf—t igrlkt t`k dhpgrtofnk gi trdoe ofm krrgr ofm kxpkrdhkftotdgf. Hofy gi t`k bkst pkrigrhdfl tromkrs mkvkegpkm t`kdr gwf styek t`ot nof—t bk igufm gr kvkf mksnrdbkm df ofy bggj.
?>
Df tromdfl, hgrk `gurs mgks fgt hkof hgrk prgt. Df iont, sdttdfl df irgft gi o snrkkf igr `gurs gf kfm nof ekom tg mdhdfds`dfl rkturfs ofm burfgut. Igur `gurs gi ngfnkftrotkm tromdfl gr rkskorn` ds usuoeey t`k edhdt igr hgst pkgpek.
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
...gf hgfky hofolkhkft
3?
]`dfj egfl ofm `orm bkigrk hojdfl t`k trofsdtdgf tg iuee tdhk tromdfl. ]romdfl ds `orm kfgul` wdt`gut t`k prkssurk gi fkkmdfl hgfky tg edvk. ]`k horjkt dsf—t lgdfl tg rkworm ygu aust bknousk ygu `ovk bdees tg poy t`ds hgft`. ]romk port tdhk uftde ygu `ovk ?33% ngfmkfnk df ygur obdedtdks.
32
Mgf—t stort wdt` t`k dftkftdgf gi tromdfl igr rklueor dfnghk. Tgur tromdfl onnguft ds o prkndgus osskt t`ot ygu fkkm tg jkkp lrgwdfl df grmkr tg nghpgufm ygur wkoet` ofm korf bdllkr suhs mgwf t`k edfk. Ngfvkrskey, gfnk ygu stort tromdfl iuee tdhk, hojk dt o `obdt tg rklueorey sovk o pkrnkftolk gi ygur wdffdfls. ]`ds wdee nghk df `ofmy murdfl `orm tdhks.
3>
Di ygu ork eunjy kfgul` tg hojk rkoe, edik-n`ofldfl suhs gi hgfky df t`ds lohk, mgf—t bk oirodm tg qudt w`dek ygu—rk o`kom.
^tgp egssks ork ksskftdoe w`kf tromdfl wdt` ekvkrolk. @gwkvkr, stgps nof oesg egnj df egssks ot t`k wgrst
3=
pgssdbek tdhk. ^ghk tromkrs fm t`ot dt—s bkttkr tg usk trodedfl stgps, shoee bkt sdzks ofm mdvkrsdnotdgf df grmkr tg hofolk rdsj. Dt—s dhpgrtoft tg mg o egt gi wgrj ofoeysdfl stgp egss peonkhkft.
3;
Hofy tromkrs rknghhkfm rdsjdfl ekss t`of ?% gf o ldvkf tromk. Gt`krs rknghhkfm usdfl o vordotdgf gi t`k Jkeey Igrhueo. ]`k trut` ds t`ot rdsj hofolkhkft mkpkfms gf t`k strotkly ofm t`k tromkr. ]`k gfk ngfstoft ds1 fkvkr kvkr bkt oee ygur n`dps gf gfk tromk.
39
Di ygu jfgw o egt obgut sghkt`dfl ygu nof bkt hgrk `kovdey gf ygur aumlkhkft. Os \orrkf Buiiktt sodm ―Rdsj nghks irgh fgt jfgwdfl w`ot ygu—rk mgdfl.‘
3<
Fossdh ]oekb sodm tg rofj t`dfls by gptdgfoedty. Df gt`kr wgrms, eggj igr tromks wdt` t`k bkst osyhhktrdn rdsj1rkworm prgek. ]ojk kfgul` bkts wdt` kxnkeekft rdsj1rkworm poygiis ofm ygu—ee nghk gut woy o`kom.
30
Mgf—t bk oirodm tg omm nopdtoe tg ygur tromdfl onnguft di dt hojks skfsk tg mg sg. O ?3% rkturf gf o $?33J onnguft ds o egt kosdkr tg hojk but prgmunks t`k sohk ohguft gi hgfky os o ?33% rkturf gf o $?3j onnguft. ]`dfj egfl tkrh ofm jkkp budemdfl.
34
Ekorf oee ygu nof obgut t`k Jkeey Igrhueo. ]`ds ds t`k hot`khotdnoe ofswkr tg `gw hun` ygu s`guem bkt gf o tromk. O neuk1 kvkf o wdemey prgtobek systkh wdee lg bust di ygu bkt tgg bdl. Rkom t`k bggj Igrtufk—s Igrhueo ofm popkrs by Km ]`grp tg ekorf hgrk obgut Jkeey.
?3
Idfofndoe prgbekhs nof bk o `kovy burmkf. Tgu wdee `ovk o `orm tdhk tromdfl di ygur pkrsgfoe fofnks ork fgt df grmkr. ]`k bkst dfvkstgrs ork mdsndpedfkm wdt` t`kdr hgfky ofm `otk tg egsk dt. \orrkf Buiiktt ekm o tox rkturf w`kf `k wos aust ?=.
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
??
Ekorf tg nut ygur egssks qudnjey ofm ekt ygur wdffkrs ruf. Tgu fkkm tg fm t`k rdl`t boeofnk bktwkkf tojdfl prgts ofm nuttdfl egssks. ]`ot nghks wdt` kxpkrdkfnk ofm t`rgul` potdkftey wgrjdfl gf ygur strotkly. ]kst mdiikrkft hgfky hofolkhkft systkhs tg skk w`dn` gfk sudts ygur strotkly bkst.
?2
Kvkry ikw hgft`s rkvdkw ygur tromks ofm ofoeysk w`krk ygu nguem dhprgvk. \`ot mg t`k stotdstdns tkee ygu obgut ygur wdf rotk, typdnoe rdsj1rkworm ofm pgsdtdgf sdzk7 Eggj ot t`k HOK (hoxdhuh omvkrsk kxnursdgf) ofm HIK (hoxdhuh iovgrobek kxnursdgf) gi kvkry tromk. \`ot mgks dt tkee ygu obgut w`krk tg peonk stgps gr prgt torlkts7 [sk t`ksk stotdstdns tg fk tufk ygur pgsdtdgf sdzk sg t`ot dt bknghks hgrk gptdhoe gvkr tdhk.
?>
Oewoys ngfsdmkr t`k pgssdbdedty gi o rofmgh, beonj swof kvkft. Tgu noffgt prkmdnt o beonj swof kvkft but dt nof wdpk gii ykors gi lodfs. Di usdfl horldf, dt nguem put ygu dftg mkbt. ]`ot—s ofgt`kr rkosgf w`y dt—s lggm tg mdvkrsdiy ofm rklueorey bofj lodfs.
Edhdt ygur rdsj gf kvkry tromk (igr kxohpek 3.;% gi ygur bofjrgee) ofm edhdt ygur modey rdsj tgg.
?=
Igr ygu`kom egsk ofm hgrkfgt t`of kvkryt`dfl gii ofm nghk bonj ofgt`kr moy. ^ghktdhks ygu fkkmkxohpek, tg nekor diygur ekt 2%, t`k turf hgfky oiiknt ygur mkndsdgfs.
?;
Bk norkiue obgut hojdfl ofy ossuhptdgfs obgut ngrrkeotdgfs. Ngrrkeotdgfs nof n`oflk gvkr tdhk. Murdfl o horjkt pofdn, ngrrkeotdgfs nof lg gut gi t`k wdfmgw ofm kvkryt`dfl nof lg mgwf tglkt`kr.
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
...gf tromdfl systkhs
3?
Tgu noffgt budem o tromdfl systkh wdt`gut lggm moto. Idrst agb ds tg lkt t`k moto ofm t`k dfirostrunturk rdl`t t`kf ygu nof tkst ygur dmkos. ]`krk ds fg qudnjkr woy tg lg brgjk t`of tromdfl o strotkly t`ot `os bkkf bonjtkstkm gf bom moto.
32
Nghbdfdfl tromdfl systkhs tglkt`kr ds gfk gi t`k bkst woys tg rkmunk mrowmgwf ofm dhprgvk ngfsdstkfny. Igr kxohpek, nghbdfdfl ?9 ufngrrkeotkm sdlfoes, kon` wdt` o ^`orpk rotdg gi 3.;, wguem lkfkrotk o pgrtigedg ^`orpk rotdg gi 2.3. ]`ot ds o vkry prgtobek systkh.
3>
Mgf—t bkedkvk ofyt`dfl ygu rkom uftde ygu `ovk tkstkm ofm trdkm dt gut igr ygurskei. \`ot uskm tg wgrj tkf ykors olg hoy fgt wgrj tgmoy ofm ygu gfey fm gut w`ot wgrjs by rdlgrgus tkstdfl ofm ofoeysds.
3=
Igeegw o systkh ofm poy ottkftdgf tg stotdstdnoe ofoeysds. But mgf—t bk oirodm tg sjdp o tromk t`ot mgksf—t ikke rdl`t. Oewoys mg o pgst-tromk mdolfgsds tg skk di ygu homk t`k rdl`t mkndsdgf.
3;
Mgf—t ldvk up gf o systkh oitkr o ikw egsdfl tromks bknousk t`ot hdl`t bk t`k tdhk t`k systkh turfs orgufm. Ekorf obgut t`k eow gi eorlk fuhbkrs ofm hojk surk ygu ork obek tg ngpk wdt` t`k kxpkntkm systkh mrowmgwf bkigrk ygu stort tromdfl.
39
]romdfl systkhs ork nrundoe igr tromkrs. But t`ky ork nghpekx tg nrkotk ofm 43% gi tromkrs wdee egsk hgfky trydfl tg nrkotk t`kdr gwf muk tg t`k hofy hdstojks t`ot nrkkp dftg t`k mkvkegphkft prgnkss. ]romdfl strotkldks fkkm tg bk budet wdt` norkiue ottkftdgf tg rgbustfkss ofm rkoe wgrem myfohdns.
3<
Hgst quoftdtotdvk tromdfl gfey `ovk vkrygfk shoee kmlk butYdrtu t`ot—s GJ. Ydrtut`k Nopdtoe gfey ;?-;2% gi dts tromks but dtsystkhs wkft 9 ykors wdt` ogfey egsdfl moy. `orfkssks pgwkr gi wdfs eorlk fuhbkrs tg kxpegdt dt—s tdfy kmlk.
30
]`krk ork hofy mdiikrkft woys tg voedmotk o tromdfl systkh, fgfk gi t`kh ork iggeprggi. Eorlk sohpek sdzks, nrgss voedmotdgf, woej-igrworm, Hgftk Noreg. ]`ksk hkt`gms nof prgvdmk ngfmkfnk but fgt`dfl ds luoroftkkm. ]`ot—s bknousk t`k stgnj horjkt ds o myfohdn, nghpekx systkh t`ot n`oflks oee t`k tdhk.
34
Oewoys bk wory gi t`k rgek gi eunj df tromdfl. Os t`k soydfl lgks ‐mgf—t ngfiusk brodfs wdt` o buee horjkt—. O tromdfl systkh nof oewoys brkoj w`kf o buee horjkt kfms.
?3
\`kf bonjtkstdfl o tromdfl systkh, oewoys ekovk sghk moto gut-gi-sohpek tg vkrdiy ygur strotkly wdt` (prkikrobey vk ykors gr hgrk). Gfey bonjtkst t`k gut-gi-sohpek gfnk ofm jkkp o rkngrm gi ygur fmdfls. O lggm GG^ pkrigrhofnk ds ksskftdoe igr o tromdfl systkh but dt mgksf—t luoroftkk ofyt`dfl. \`ot ygu woft tg skk ds o sdhdeor pkrigrhofnk gut-gi-sohpek tg w`ot ygu sow df-sohpek
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
??
^keknt tromdfl porohktkrs (rueks) boskm gf rgbustfkss rot`kr t`of gutpkrigrhofnk. Igr kxohpek, fkdl`bgurdfl porohktkrs. Of gutedkr rksuet ds gitkf muk tg eunj w`krkos strgfl pkrigrhdfl porohktkrs igufm df neustkrs ork o sdlf gi rgbustfkss (skfsdtdvdty ofoeysds).
?2
]ry tg lkt `gem gi ommdtdgfoe moto skts w`dn` ygu nof bonjtkst ygur tromdfl strotkly gf. ]`k hgrk motoskts ofm horjkts t`ot ygur strotkly wgrjs gf, t`k hgrk rgbust dt edjkey ds.
?>
]romdfl strotkldks mgf—t oewoys `ovk tg hojk kngfghdn skfsk but ygu s`guem bk obek tg spknueotk w`krk t`k kmlk nghks irgh. Igr kxohpek, o `uhof bdos gr horjkt kndkfny. Di ygu nof—t igrh o forrotdvk os tg w`y ygur strotkly wgrjs, t`krk—s o n`ofnk dt ds gvkr-gptdhdzkm gr moto hdfkm.
?=
O strotkly t`ot `os bkkf moto hdfkm nof wgrj but dt rkqudrks hgrk strdflkft voedmotdgf t`of o strotkly t`ot ds boskm gf kngfghdn egldn gr nghhgf skfsk. Dt tojks hgrk wgrj tg prgvk dt—s fgt rofmgh, df gt`kr wgrms.
?;
Tgu ork bkttkr gii tromdfl gfk rgbust tromdfl strotkly t`of nghbdfdfl ?33 gvkr ttkm, egsdfl strotkldks.
?9
_uoft tromkrs sghktdhks strullek by ignussdfl gfey gf t`k fuhbkrs. Mgf—t bk oirodm tg nghbdfk ygur tromdfl systkh dmkos wdt` iufmohkftoe ofoeysds, kngfghdns, `uhof aumlkhkft ktn. ]`ds ds o ikrtdek orko wdt` w`dn` tg lodf lrgufm gf purk oelg tromkrs.
?<
Di ygur bonjtkst rksuets oppkor tgg lggm tg bk truk, bk vory norkiue ofm eggj igr hdstojks df t`k ngmk. Bkwork gi igrworm ekojs gr kxknutdgf krrgrs w`krk ygur tromdfl systkh kftkrs pgsdtdgfs t`ot nguem fgt `ovk gnnurkm df rkoe tromdfl.
?0
[sk sghk horldf gi soikty df ygur bonjtkstdfl os o woy tg fm hgrk rgbust strotkldks. Igr kxohpek, usk sedppolk ofm nghhdssdgfs sedl`tey `dl`kr t`of w`ot ds rkoedstdn. Di ygu nof hojk hgfky wdt` `dl` sedppolk, ygu nguem lkt o pekosoft surprdsk df rkoe tromdfl.
?4
Dt—s kftdrkey pgssdbek tg nghk up wdt` prgtobek tromdfl strotkldks boskm gf vkry shoee sohpek sdzks. But ygu fkkm o `dl`kr mklrkk gi ngfvdntdgf t`ot t`k kmlk ds rkoe.
23
Fkvkr ossuhk t`ot o bonjtkst ds o rkoedstdn rkprkskftotdgf gi rkoedty. Horjkt hdnrgstrunturk, iuturk kvkfts ofm moto krrgrs nof hojk o mrohotdn dhprkssdgf gf o strotkly gfnk dt ds tojkf edvk. Gfk woy tg tkee o systkh ds fgt wgrjdfl ds di ygu lkt o egflkr egsdfl strkoj gr `dl`kr MM t`of df bonjtkstdfl.
?3? EK^^GF^ IGR O^SDRDFL ]ROMKR^
]kn`fdnoe Ofoeysds ^tumy O egt gi t`k wgrj D mg ds quoftdtotdvk ofm boskm gf t`k bonjtkstdfl gi `dstgrdnoe pottkrfs ofm dfmdnotgrs. O w`dek olg D mdm o s`grt stumy gf tkn`fdnoe dfmdnotgrs tg skk di ofy gi t`kh `om ofy prkmdntdvk obdedty ofm orkmgwgrt` tromdfl.hun` ]`k kmlk. rksuetsOswkrk ofm s`gwkm t`ot hgst dfmdnotgrs fgt prgvdmk ygu hgstey nof skkufmkrw`kehdfl irgh t`k tobek bkegw, t`k bkst prgts nohk irgh t`k R^D(2), 2;2-moy egw ofm Gf Boeofnk Ygeuhk (GBY) dfmdnotgr. Igr kxohpek, buydfl stgnjs w`kf R^D(2) wkft ufmkr ; prgmunkm of ovkrolk prgt gi 3.;>% gvkr tkf moys. Hkofw`dek, buydfl stgnjs ot fkw 2;2-moy egws prgmunkm of ovkrolk prgt gi >.=2% gvkr ;3-moys. Gf t`kdr gwf, t`ksk sdlfoes hoy fgt hkof hun` but t`ky nguem bk nghbdfkm wdt` gt`kr iontgrs tg igrh o wgrt`w`dek tromdfl strotkly1
]`ofj ygu ]`ofj ygu gfnk olodf igr mgwfegomdfl t`ds ludmk ofm ekorfdfl o bdt obgut hk ofm hy t`gul`ts gf dfvkstdfl. ]g ekorf kvkf hgrk ofm skk sghk gi t`k wgrj D `ovk mgfk gf tromdfl strotkly mkvkegphkft D—m egvk tg skk ygu ot hy wkbsdtk www.mkngmdflhorjkts.ngh. Bkst wds`ks ofm bkst gi eunj wdt` ygur tromdfl! - Agk Horwggm
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