Next, I will share the process of chip distribution application and main operation**.
Chip distribution and chip distribution chart
Chip distribution technical analysis is valued by more and more investors, and it is rightInvestment analysisThe role is becoming more and more important. The distribution of chips is simply "the distribution of the cost of holding a position in circulation". It reflects the number of positions held by investors at different price levels. If it is difficult to express the detailed meaning of the distribution of chips in words alone, we will temporarily call it cost distribution, which refers to the distribution of the amount or proportion of the circulating ** held by investors at different costs.
Chip distribution chart, in most software, the chip distribution chart is located on the right side of the chart window, which consists of two parts. The upper part is a tightly arranged horizontal bar, each of which corresponds to the coordinates of the figure on the left. The length of the bar represents the number of positions opened at this price as a percentage of the total outstanding shares, and if recent transactions increase the number of chips at one price, then the amount of chips distributed at other prices will inevitably decrease. The lower part is the annotation of the chip distribution, which timely marks the date of the chip distribution, the profit ratio, the average cost, and calculates the chip concentration in a certain ** range.
Chip distribution diagram.
The red chips are profit-taking, the blue is the hedging order, and the yellow line pointed by the arrow is the average cost line of all positions in the current market, indicating the center of gravity of the entire cost distribution. If the stock price is below it, it means that most people are losing money.
Chip distribution and calculation principle.
We can give an example:
A company has 16 shares**, and these 16 shares are held by 3 different investors. Shareholder A had bought 3 shares at $10 and then 6 shares at $11; Shareholder B bought 4 shares at a holding cost of $12; Shareholder C, who bought 1 share at $13 and held 2 shares at $14. Add up the ** of these 3 stockholders, which is exactly 16 shares.
As shown in the figure below, we will replace ** with chips like mahjong cards, on the left of the picture is from 10 yuan to 14 yuan at 5 prices, and then we stack these chips according to the cost of the shareholders at that time to buy it at the corresponding price, so it forms the appearance in the figure:
From this chart, we can clearly see that this ** is at the price of 11 yuan, and the investor's chips are heavier, followed by 12 yuan to 10 yuan, and the amount of chips above 13 yuan is not much. In addition, in addition to the above-mentioned shareholders A, B, and C, there was once an investor D who bought this ** at about 9 yuan, and later resold it to shareholder A for 11 yuan, so D raised a question, "How is the historical transaction of 9 yuan not reflected in this chip distribution chart?" In fact, this problem is not difficult to explain clearly, everyone noticed that the chips on the chart are only 16 shares in total, and the circulation of this ** is also 16 shares, and the chip distribution only shows the cost of opening a position for all shareholders of record on this day. This is an important feature of the distribution of chips: it not only reflects the opening cost and position of all investors in the whole circulating disk, but also shows the most real situation on the disk.
As the trade continues, chips flow between investors, so the distribution of chips is not set in stone. Suppose a transaction then occurs: Shareholder B sells 3 shares of the 4 shares ** that he opened a position at $12 at a price of $14 at a price of $14 and is undertaken by Shareholder D, so the chip distribution becomes what the figure looks like:
Use the essentials of chip distribution
Whether it is **, mid-line or long-term dealer, if you want to control the handicap, you must have more than 20% of the chips in your hand, otherwise it is difficult to be a banker. Why is there such a pattern? This is because a 20 chip is locked because it is owned by a long-term investor. Of the remaining 80 circulating chips, 20 of them are active floating chips, and if these 20 chips are collected, there will be very few floating chips in the market, so you can control the market in general.
As a bookmaker, due to the huge amount of chips it absorbs, these chips cannot be bought at the lowest **, in order to do everything possible to buy chips, the main force has to suppress and shuffle; And when distributing chips, he also has to reduce the ** selling chips, all of which invisibly raise the cost of chips for the main force. Therefore, if the main banker wants to make a profit, he must have enough gains.
Generally speaking, when the main force rises by 50, the crops are likely to get 10%-20% of the profit, so in most cases, the main force will eventually have a rise of more than 100, because only in this way can the main force calmly distribute chips under the premise of ensuring profits. The main force will set a minimum target level, no matter how tortuous the road ahead, the main force will wait for the stock price to reach this level, unless it is forced to do so, the main force will never leave the market at a loss.
What are the characteristics of the main chips?
From the perspective of the game, in the long and boiling stage of holdings, ** investors are usually unable to "make a profit and do not sell, unbundle and not sell, sideways can not be washed", if the profit is not thrown, unbundled is not sold, sideways can not be washed, then these chips are basically the main chips.
1. Chips that do not throw away profits.
A 20% to 30% of the game will usually sell for a profit, and from the dealer's point of view, he has not yet made a profit, let alone distributed his chips, so he is unlikely to sell his chips. Conversely, when the stock price goes from a high ** to a low chip peak, there will be a strong **, because this is when the stock price hits the holding cost of the main force, and the main force needs to pull up again in order to distribute chips.
2. Unbundle the chips that are not sold.
Looking at the unhedging again, the general shareholding psychology of ** is "restless when making profits, and unusually calm when deep**". In the bear market, the ** business department is basically empty, not to mention buying and selling**, and they don't even bother to look at the market. And when the stock price bottoms out, investors are close to the state of unhedging, and ** becomes active again. When the stock price returns to the vicinity of the early hedging area, the metropolis will trigger a relatively large trading volume, indicating that these early investors have chosen to leave the market once they have unbundled. For the main funds, profit is the goal, and he will definitely not sell the chips absorbed during the layout just because of unbundling.
3. Chips that cannot be washed away sideways.
When the market is weak, it is generally followed by the market. At this time, some powerful main forces, when the stock price is endangered due to ***, they will go against the market to maintain the stock price in the cost area strong sideways. The purpose of their operation is to protect the disk in the weak market, and then start when the strong market is strong, usually this is not up or down, just sideways, it is difficult to attract the attention of market investors.
The main force of chip distribution is to attract chips.
In a round of **, the behavior of the main force is mainly composed of four stages, which are:
"Accumulation stage", "washing stage", "pulling up stage", "distribution stage".
The main task of the accumulation stage is to buy a large number of ** at a low level. Whether the absorption is sufficient and the amount of the main position is of great significance to its control!
First of all, the amount of open interest determines the profit in the future, and the more chips you have, the greater the amount of profit realized. Secondly, the amount of positions determines the degree of control of the main force, the more chips the main force absorbs, the fewer chips scattered in the market, and the stronger the control ability of the main force to **.
Finally, the main force is different from ours, he has a large amount of funds, and a little more will attract a keen follower, so it is difficult to complete the position in one step in a range. If you want to complete the low position, the only way is to wash the market, forcing the last round of ** high hedgers and the recent ** profit orders to continue to go out, so that the main force can take on more chips at the low level.
Judging from the chip distribution map, the process of the main force to absorb chips is a process of chips changing hands. In this process, usually the main force is the first side, we are the seller, and the full turnover of chips at the low stock price is a sign of the completion of the chip absorption stage. The so-called full turnover is to trade highly intensively in a certain ** area, so that the chips scattered at various prices are fully concentrated in one main ** area.
After the completion of the chip absorption stage, the stock price is relatively low to form a chip intensive, and the conditions for launching an upward attack are only mature, and the main chip absorption area is the cost area of its holding.
In the capital market, it is not possible to make money make money. If a person wants to make a profit, he can only trade poorly through the most primitive trading principle: buy at a low price and sell, and make money from it. At the stage when the dealer picks up chips, cheaper chips are also needed. But when everyone knows that chips are cheaper, who will sell them? In the stage of chip accumulation, there will be a variety of false technical forms, such as M head, five waves killing and falling, etc. Due to the fact that there are many speculators in the A** field, few people can do value investment. The market maker occupies an absolute dominant position in the market, so the market maker takes the opportunity to suppress and make the stock price sideways for a relatively long time, so that few investors dare to hold shares for a long time, so that the last round of high-level trappers continue to cut the meat, and the dealer can absorb chips at a low level.
In fact, the process of the dealer sucking chips is a process of chip conversion. In this process, the bookmaker is the buyer and ** is the seller. Only when the low level is fully completed, the dealer will form a pull-up, thus ending the stage of chip absorption. In the chip distribution chart, it is reflected in the height of the chips. As shown in Figure (1), it is the early stage of Jinyi Industrial (601002) to absorb chips, which lasted for nearly two years, and the centralized collection area of chips was about 8 yuan. This area, that is, the approximate cost of the bookmaker's chips.
When the market maker completes the accumulation of chips, the next step is to let the stock price out of its cost area and open up profit margins. In this process, the dealer uses part of the chips to suppress the plate, and at the same time undertakes to sell the pressure chips, so that most of the chips are still immovable, locked in the chip absorption area, waiting for the high profit to be taken. For **, the most common is the bullish behavior. Therefore, in the process of pulling up, ** continues to chase up, and at the same time, the fear of heights makes its profits back, and the bookmaker takes the opportunity to sell and buy, constantly pulling up the stock price, forming a seamless "sedan car plan". In the case of the general trend, the promotion work is completed by the **, and the dealer only needs to use its chip advantage to reap the benefits of the fisherman.
As shown in Figure (2), it is the performance of the chips after the share price of Jinyi Industrial rose from 8 yuan to 15 yuan. It can be seen that the chips continue to move up and disperse from the concentration of 8 yuan below, but there are still a large number of low chips at 8 yuan. This also means that in the process of the stock price rising from 8 yuan to 15 yuan, the market maker does not intend to fully ship.
Distribution stage] After the stock price continues to rise, the profit margin of the market maker is full, and the next step will be to complete the realization of profits. In the process of cashing out, the dealer most wants someone to take over his chips, that is, **. Because of the eagerness for immediate interests, it is easier to be attracted by a strong pull. In the distribution stage, the market maker took the opportunity to pull the stock price up sharply again, and constantly exchanged chips with it. Due to the large number of chips the dealer has, it takes a large turnover to complete the deal. Therefore, in the process of the stock price constantly hitting a new high, its trading volume continues to expand, and the turnover rate continues to increase, giving the dealer a better opportunity to distribute chips.
As shown in Figure (3), in the process of Jinyi Industry moving from the first wave of rising highs of 15 yuan to 29 yuan, the most primitive 8 yuan cost chips continue to move upward. At $29, the chips are generally concentrated around $18. It can be seen that although the chips are moving up as a whole, the chips at the bottom of the 8 yuan have not yet been distributed, which indicates that the dealer needs to put the finishing touches on it completely.
Closing stage] At the end of the chip distribution, in order to attract more ** entry, let your chips be fully cashed out. The bookmaker usually forms a phased sideways adjustment after the end of the rapid pull-up, and in the process of adjustment, it continues to pull up the long white line in the intraday, which makes people feel that the pull-up ** is not over. At this time, due to the fact that *** is too crazy, coupled with the hype of **, ** is disoriented and constantly chasing high. At the same time, the often sideways market has a high turnover rate so that their chips can be cashed out.
As shown in Figure (4), it is the closing stage of Jinyi Industry in this round. In the process of the stock price continuing to move sideways, the cumulative turnover rate reached 62%, which is often referred to as high and high turnover. We know that the turnover rate in a single day is generally less than 3%. Therefore, when the average turnover in a single day is as high as nearly 8%, it is a typical abnormal behavior. As for Figure (3), in just 8 trading days, not only the original chips of 8 yuan below were almost exhausted, but even the chips around 18 yuan in the pull up were completely transferred, and finally concentrated at the high of 28 yuan. In the end, the dealer successfully distributed all the 8 yuan low chips to the 28 yuan high standing guard.
Since the chip distribution collects all the data of the listed company, it is used as a medium and long-term market maker when referring to it. In the four different stages of the chips, not all dealers are able to fully ship, which is mainly due to the cooperation of the ** environment. Therefore, while using the ** reference chip distribution, the direction of ** cannot be ignored. If you're still in the midst of a constant rush to the top, it's important to understand how your chips are distributed and put the finishing touches on it.
First, the peak does not die, and the bear market does not stop
In ***, if the upper dense peak is not fully consumed and a new single peak dense is formed at the low level, there will be no new **.
The sufficient condition is that there is no large number of hedging disks above the stock price, and each of the upper peaks in the multi-peak is a strong resistance level, and the upper peak disappears, and the formation of a new single peak at the low level means that the decline is stabilized.
Most of the chips are concentrated at the top. Then a large **, after several waves in the middle**, again**, until the formation of a low-level single-peak dense, a wave of ** was launched.
Second, it fell below the high level of single-peak intensive
The stock price has risen significantly, and the original low-level single-peak density has been eliminated to form a high-level single-peak intensive.
The stock price falls below the high single-peak intensive, and the stop loss should be stopped in time.
3. Continuous, multi-peak
The stock price is started after the high single-peak intensive, and two or more dense peaks are formed on the way, and the original dense peaks are reduced when the new dense peaks are formed, but they still exist.
*Consolidation on the way is of a **nature, and each intensive peak will become a strong resistance level for the stock to recover.
Fourth, the next peak does not die, and the bull market does not stop
In ***, if the lower dense peak is not fully consumed and a new single peak dense is formed at the high level, ** will continue.
Each of the lower peaks in the multi-peak is a strong support level, and the lower peak disappears completely, and a new single-peak density is formed at the high level to mean that the peak may end.
Fifth, break through the low single-peak intensive
After a long period of consolidation, the chips are distributed at a low level and form a single-peak intensive, and the stock price breaks through the single-peak intensity, which is usually a sign of a round of ***.
The greater the density of a single peak, the more fully the chips change hands, and the greater the strength of the attack.
Sixth, continuous, multi-peak intensive
The stock price started after the low single-peak intensive, and on the way to the rise, two or more dense peaks were formed, and the original dense peaks decreased when the new dense peaks were formed, but they still existed.
The ** finishing on the way up belongs to the nature of washing, and each intensive peak will become a strong support level for the ** wash of the stock.
Seventh, break through the high single-peak intensive
* After a round of uptrend, a single peak was formed at a high level, and the stock price once again broke through the high peak density and hit a recent record high.
The stock price breaks through the high level again and the single-peak intensive is the beginning of a new round of upward trend, which should be appropriately intervened in combination with other signals, and the stock price falls back to break through the high dense peak when the stop loss.
Disclaimer: This content is provided by *** Monster Hunter and is for reference only and does not constitute operational advice. If you operate by yourself, pay attention to ** control and risk at your own risk.
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