【停損不會讓績效更好？】
最近看到朋友分享， 2023年11月有一篇文章，標題是《停損並且讓獲利奔跑 Cut Your Losses and Let Your Profits Run》，作者是Dirk G. Baur、Thomas Dimpfl，發布在《投資組合管理期刊 Journal of Portfolio Management》，
這篇文章想用數據驗證一個概念：
「停損並且讓獲利奔跑」這個很常見的觀念，是否真的正確？
它驗證方法，是從S&P500大型股中抽樣，隨機挑選股票，在隨機時刻進場，並且設定停損或者停利，看看績效會不會比買進持有更好，測試期間是2000-2021年。
💡結論是：用任何形式的停損策略，都會降低回報，並增加波動性。
停損只在2008年這1年讓虧損得到一些控制，其餘20年都沒有比單純買進持有更好。
有興趣的人可以自己去查一下 Cut Your Losses and Let Your Profits Run 這篇文章。
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提醒：
1. 這裡說的停損，是指條件明確的停損策略，也就是根據自己帳戶虧損多少來作為出場判定的策略。包括固定金額、固定百分比、移動停損都屬於此類。
如果只是出場的位置剛好是虧損，無論你多忍痛賣出，這都不叫停損策略喔。
2. 如果少了停損，你策略就無法出場，那不是少了停損的問題，而是你的策略本來就有問題。... Show More Translate
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