The dealer has financial advantages, information advantages and talent advantages. It is very easy for the dealer to see retail investors' cards, but it is extremely difficult for retail investors to know how many chips the dealer has.

(this article is compiled by the official account Yuesheng Investment Consulting (yslcw927)) for reference only and does not constitute operational advice. If you operate on your own, pay attention to position control and risk at your own risk. )

In our stock market, market makers and retail investors are unequal. The dealer has financial advantages, information advantages and talent advantages. It is very easy for the dealer to see retail investors' cards, but it is extremely difficult for retail investors to know how many chips the dealer has. The way public investors learn about the main behavior has always been to inquire about the news. Little do we know that most of the news in the stock market are fabricated by the dealer and have a huge false element. In fact, the Chinese stock market is showing a very unfair and unreasonable pattern: the purpose of the dealer trading stocks is to make money from retail investors, while retail investors keep obtaining information and operational suggestions from the dealer, which can be used to get an idiom - seeking skin from tigers.

No matter how powerful the dealer is, he belongs to the category of investors. Since it is an investment, it needs to buy and sell. As long as it is a buying and selling behavior that has occurred, it will leave traces on the technical analysis chart of the chip distribution. Smart retail investors can learn the true intentions of the main force by analyzing the signs of the main force entering and leaving. In this way, retail investors and the main force can be rivals with each other. Although the main force has various advantages, they have shortcomings and strengths. Although the small funds of retail investors cannot actively trigger market trends, the advantage of small investors is that they are completely possible to enter and exit the market. Under such premise, the source of profit of retail investors becomes the trading cost of the dealer.

However, the chip distribution only reflects market facts and cannot distinguish between the main chips and retail investors' chips. Therefore, we need to develop a set of methods to identify the main positions in the chip distribution, which is the topic to be discussed in this chapter.

"Shares Distribution" Assumption:

A certain company has 16 shares, and these 16 shares are held by 3 different investors. Shareholder A once bought 3 shares at the price of 10 yuan, and then bought 6 shares at the price of 11 yuan; while Shareholder B bought 4 shares at the cost of 12 yuan; Shareholder C bought 1 share at the price of 13 yuan and held 2 shares at the price of 14 yuan. Adding up the stocks of these three investors is exactly 16 shares.

is as follows. We exchange the stock for chips like mahjong cards. On the right side of the picture, we first clearly marked the price, from 10 yuan to 14 yuan, for a total of 5 prices. Then we pile these chips at the corresponding price according to the cost of shareholders buying it at that time, so we formed the following picture:

From the above picture, we can clearly see that this stock is at the 11 yuan price, and investors' chips are heavier, from 12 yuan to 10 yuan, and there are not many chips above 13 yuan. An important feature of chip distribution: it reflects the cost and holdings of all investors in a stock on the entire circulation market, and it shows the most realistic position status on the market.

As the transaction continues, the chips will flow between investors, so the chip distribution is not static. Suppose a transaction happens later: Shareholder B sells 3 shares of his 4 shares that were built at a price of 12 yuan, and the transaction price is 14 yuan, which is borne by shareholder D, so the chip distribution becomes the following figure:

If it is replaced with a real listed company, then a company's circulating market will have at least 10 million shares, and its price distribution is quite wide. It is usually placed on the right side of the K-line chart, and in terms of price, it uses the same coordinate system as the K-line chart. When a large number of chips are piled up together, the chip distribution looks like a side-mounted mountain pattern. These peaks are actually made up of lines from right to left, and each price range has a horizontal line representing the holding volume. The larger the position, the longer the line. These lines of different lengths are piled together to form a mountain state of uneven heights, which also forms a form of chip distribution.

Since the stock exchange does not provide the public with investor account information, the chip distribution status in various software is an approximate value calculated through historical transactions.

is based on the profit-taking habit of a considerable number of investors, especially for retail investors, it is easiest to sell their stocks between 10% and 20% of profits; and for the main force, it is difficult to sell most of their positions when they make a profit of less than 30%.Then, the profit-making order with a profit of 15% will contribute more to the transaction on the day than the profit of 25%.

In the stock selection method, selecting stocks through chip concentration is also a common stock selection method.

1. In the company's public information (F10), you can view the company's share capital, including, capital structure, institutional shareholding, shareholding status, institutional shareholding, etc. We mainly analyze the relevant data of circulating shares, such as the number of shareholders, the number of shares held by the top ten circulating shareholders and the proportion of circulating shares.

1. Compared with the changes in the number of shareholders, the number of shareholders becomes smaller, and the concentration of chips becomes higher.

2. Compare the changes in the total number and proportion of shareholders held by the top few (such as the top 10). If the shareholding ratio of the top few players increases, it can also indicate that the chip concentration is concentrated and there is a suspicion of the main force collecting chips.

3. Judge the degree of intervention of the main force. Calculate the total share of the outstanding shares held by the top few (such as the top 10) and the proportion of the total number of outstanding shares is. The higher the proportion, the higher the chip concentration and the deeper the main force intervenes. If this proportion continues to rise, it means that the main force continues to absorb funds and there is still a lot of room for future markets. If the stock price falls and the proportion of the main force holdings remains unchanged or rises, it means that the main force suppresses the market. At this time, retail investors do not need to panic. On the other hand, if the stock price continues to rise and the main position ratio decreases, it means that the chip concentration is declining, and the main force may raise the stock price to distribute chips. At this time, retail investors need to close when they see the better.

Another method is to compare the changes in the number of major shareholders in the top (first tier) and the shareholding ratio of the last shareholder in the top (such as the top 10).

2. View the shareholder changes published daily. Track and analyze the stocks you are concerned about to see the changes in the holdings (positions) of major shareholders. If the shareholding data of one or several major shareholders continues to rise, you can pay attention to the stock. In many websites, there are generally public information prompts for individual stocks that have abnormal transactions. For example, the names and transaction amounts of the first five sales departments or seats with the largest transaction amount. If a stock rises in volume, most of the announced ones are centralized buyers. If the volume drops sharply, most of the announcements are concentrated sellers. These information can be found on the computer or seen in the newspaper. If the transaction amount of these business department seats also accounts for 40% of the total transaction amount, it can be judged that the dealer is in and out.

3. Analyze the chip distribution map. When the stock price is at a low level, if the scene distribution chart shows that the chip concentration area is falling and finally basically concentrated in the bottom oscillation area, it means that the main force has basically completed the accumulation of funds. When the stock price rises, the area of ​​concentrated chips has basically not changed, and is still in the bottom area, which means that the main force is pulling up and leaving the main cost area, but it has not distributed; when the stock price rises, the area of ​​concentrated chips has moved up rapidly with the stock price, which means that the main force is distributing chips. Therefore, when selecting stocks through the chip distribution chart, you must select stocks whose chip concentration areas at the previous high level have been completely digested, that is, stocks whose chip concentration areas have moved down to the bottom area. In the short term, you can choose stocks whose stock price rises but whose chips are concentrated in the area still below the stock price.

three major analytical methods for chips

chip distribution reflects the distribution of all holding costs of circulating stocks. Since it can clearly reflect the holding costs, it is one of the most important tools for finding bull stocks. The three major analytical methods for chips should be mastered by short-term investors. So what is it? Today we will explain in detail.

First, single peak intensive breakthrough in low chips at low levels

After a long period of consolidation at low levels, the chip peak gradually shifts from above to low levels, and begins to form a single peak intensive pattern. On a critical day, the stock price has broken through the single peak with a dense single peak. At this time, there is a need for the cooperation of trading volume, indicating that the upward trend will start. The denser the single peak, the stronger the upward strength will be after the breakthrough, as shown in the figure below.

operation points: Once a single peak dense chip is broken, it will be bullish in the future, so buy at the main point.

Second, the intensive peak support for the pullback

The stock price was sideways consolidated at the low level, forming a single peak dense chip, and then breaking through the single peak chip in large volume. After the price rose slightly, a trend of retracement appeared. Such a dense chip peak will form a strong support for the stock price. If the pullback does not break, it will increase the volume again. In this case, it is mostly the start of the main upward wave. The shrinking volume and retracement of the chip peak support level is the best time to buy, and there is a high probability that it will be a big rise trend. As shown in the figure below.

operation points: intensive support at low levels, buy at the future bullish market.

Third, breaking through the previous high single peak dense

After a round of upward trend, the stock price appeared in a single peak dense chip pattern at the high level, and the stock price rose and broke through the previous high dense chip peak, setting a record high. You can buy at this time, with a single peak dense chip peak as the stop loss position. This position does not break and the stock is mainly waiting for the rise. This buying method is only suitable for short-term operations. Mainly fast in and out. Strictly enforce discipline. As shown in the figure below. Key points of

operation: short-term operation. Break through the previous high chip peak and is bullish in the short term.

The direction of the main chips directly determines whether the stocks you hold rise or fall. Therefore, being able to monitor the direction of the main chips can allow you to drink soup and eat meat with the main force. The following is a summary of five techniques for monitoring the main force!

1. Putting a very small amount can pull out the long Yang or block the daily limit. The main force of the new stocks entering the market to attract goods. After a period of collection, if the dealer can easily pull out the daily limit with very little funds, it means that the main chip collection work is coming to an end and has the ability to control the market and can control the market as you wish.

2. The K-line trend will do its own thing, ignore the market and move out of an independent market. Some stocks do not rise when the market rises, and do not fall when the market falls. This situation usually indicates that most of the chips have fallen into the main bag: when the general trend is downward and there is floating chip market, the main force will hold the chips and block the decline space to prevent the cheap chips from being snatched away; the general trend may stabilize, and there are hot money to grab the market, but the main force still does not want to launch the market due to various reasons, so a fierce market appears, blocking the rising space of the stock price and not allowing short-term money (how to do short-term) to disrupt the speculation plan. The K-line pattern of a stock is that the stock is horizontally consolidating, or it may fluctuate slightly along the moving average.

3. The K-line trend fluctuates, while the time-sharing trend chart fluctuates violently, and the trading volume shrinks extremely. When the main force (how to see the main force trend) reaches the end of the collection period, in order to wash away the short-term profit-making market and to consume the confidence of retail investors to hold shares, they use a small amount of chips to make a chart. Judging from the daily K-line, the stock price fluctuates, sometimes reaching the top of the wave and sometimes reaching the bottom, but the stock price always cannot break through the top of the box or fall below the bottom. The trend chart of the day fluctuated significantly. The price gap between commissioned buying and commissioned selling is also very large. Sometimes there is a few points in the difference, and sometimes there is a few cents in the difference, giving people a feeling of inexplicable and erratic. The trading volume is also extremely irregular. Sometimes it takes only one transaction in a few minutes, and sometimes it takes only one transaction in a dozen minutes. The time-sharing trend chart draws horizontal or vertical lines to form a rectangle, and the trading volume also shrinks extremely. The upper-level sell pressure is extremely light, the lower-level support is strong, and there is very few floating chips.

4. Failure to hit the stock price instead of falling, or even though there was a slight correction on the same day, it closed with a big positive the next day, and the stock price quickly returned to its original price. Sudden negative news came, and the main force was caught off guard. Retail investors could throw away the chips, but the main force could only take advantage of the situation. So the market can see that negative news hit the market on the day, after the opening, there were many selling and more taking over. Soon the selling price decreased and the stock price stabilized. Because of fear of retail investors picking up cheap chips, the stock price was pulled up to its original position by the main force on the second day.

5. After hitting a high volume, it narrowed and fell below the previous low point, creating an illusion of a downward breakthrough. This is a very fierce method of washing the market for the main chips (how the market makers wash the market). The purpose is to wash away the last floating chips that they stick to in order to enter the pull-up stage of the main upward wave. Such individual stocks will cause considerable book losses in the short term, but as long as they stick to it, the rewards for the future market will be very high. This is the reason why those who achieve great things must go through great hardships.For such situations, firmness and patience are the best protection magic weapons

Some investment strategies that are famous for their reputation are regarded as magic weapons for making money by investors, some investment masters' so-called investment bibles are regarded as golden rules by investors, and some methods that are only suitable for institutional investors are followed by investors one by one. Poor little sects must remember that the following five things must not be touched!

1. Borrow money to trade stocks

invest in the stock market, the purpose is to make money, the more capital you invest, the more you earn. As such, many investors hope to spend more money to invest in the stock market, so the phenomenon of borrowing money to trade stocks has emerged. It is smart to borrow chickens to lay eggs, but they forgot that the greater the principal, the greater the risk. In the end, not only did I not make any money, but I still lost money from others, and I couldn’t pay it back.

2, believe in the gossip

Many investors cannot or are unwilling to learn the professional knowledge of investing in stocks in depth for various reasons, hoping to invest in stocks by exploring the gossip from various channels. But I don’t know that not only can I get something without work, but I often lose all my money.

3. Don’t sell until you die

There is a song called “Love when you die”, but in the stock market, some retail investors pursue the mentality of retail investors who “do not sell when you die”. In a rising market, any selling is regretful, which is also the reason for this hot mentality. However, in a downward market, "not selling until you die" will bring you the deepest pain, and I believe many investors have a deep understanding.

4, blossom everywhere

In order to avoid risks, investment masters educate us: "Don't put eggs in the same basket." So a considerable number of retail investors followed this investment gold law, and often found that things went against their wishes. Little do people know that the teachings of investment masters are targeted at a considerable scale of funds, and are not applicable to retail investors' investment principal.

5. Chasing up and selling down

The most difficult thing to overcome in the stock market is human nature, and the biggest weakness in human nature is greed and fear. When the stock price rises, greed begins to work, hoping to buy the stock and make a profit. When the stock price falls, it is afraid that it will continue to fall, so it is eager to sell the chips in its hands. In the long run, this type of investor often has the lowest yield.

If you like the above article and want to know more about stock market investment experience and skills, follow the official account Yuesheng Investment Consulting (yslcw927), there is a lot of practical information!

Statement: This content is provided by Yuesheng Investment Consulting, which does not mean that the Investment Express recognizes its investment views