\u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u8a9e\u308b\u300c1\u3064\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\u300d\u54f2\u5b66\uff5cSMB\u30ad\u30e3\u30d4\u30bf\u30eb\u5275\u8a2d\u8005\u30de\u30a4\u30af\u30fb\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u306e\u6559\u3048<\/title><\/p>\n<style>\n body {\n font-family: \"Hiragino Kaku Gothic ProN\", \"Noto Sans JP\", \"Meiryo\", sans-serif;\n line-height: 1.9;\n color: #2c2c2c;\n background: #fafaf8;\n max-width: 860px;\n margin: 0 auto;\n padding: 20px 16px 60px;\n }\n h1 {\n font-size: 1.85em;\n font-weight: 900;\n color: #1a1a2e;\n line-height: 1.45;\n margin: 0 0 18px;\n padding: 24px 20px 20px;\n background: linear-gradient(135deg, #1a1a2e 0%, #16213e 60%, #0f3460 100%);\n color: #e8d5b7;\n border-radius: 4px 4px 0 0;\n letter-spacing: 0.02em;\n }\n .hero-sub {\n background: #16213e;\n color: #a8bbd4;\n padding: 12px 20px 18px;\n font-size: 0.88em;\n border-radius: 0 0 4px 4px;\n margin-bottom: 36px;\n }\n h2 {\n font-size: 1.25em;\n font-weight: 800;\n color: #1a1a2e;\n margin: 44px 0 16px;\n padding: 10px 16px 10px 20px;\n border-left: 5px solid #0f3460;\n background: #eef2f8;\n border-radius: 0 4px 4px 0;\n }\n h3 {\n font-size: 1.08em;\n font-weight: 700;\n color: #0f3460;\n margin: 32px 0 12px;\n }\n p {\n margin: 0 0 18px;\n font-size: 1.0em;\n }\n .dialogue-block {\n background: #fff;\n border: 1.5px solid #dde3ee;\n border-radius: 8px;\n padding: 20px 24px;\n margin: 24px 0;\n box-shadow: 0 2px 8px rgba(15,52,96,0.06);\n }\n .dialogue-block p {\n margin: 0 0 10px;\n }\n .dialogue-block p:last-child {\n margin-bottom: 0;\n }\n .bear-white {\n color: #0f3460;\n font-weight: 700;\n }\n .bear-teddy {\n color: #7b4a2d;\n font-weight: 700;\n }\n .highlight-box {\n background: linear-gradient(135deg, #fff8f0 0%, #fff3e0 100%);\n border-left: 4px solid #e07b39;\n padding: 16px 20px;\n margin: 24px 0;\n border-radius: 0 6px 6px 0;\n font-size: 0.97em;\n }\n .keyword-section {\n background: #1a1a2e;\n color: #e8d5b7;\n padding: 30px 28px;\n border-radius: 8px;\n margin: 48px 0 32px;\n }\n .keyword-section h2 {\n background: none;\n border-left: 3px solid #e07b39;\n color: #e8d5b7;\n font-size: 1.12em;\n padding: 4px 0 4px 14px;\n margin: 0 0 22px;\n }\n .keyword-item {\n margin: 0 0 20px;\n padding-bottom: 20px;\n border-bottom: 1px solid rgba(232,213,183,0.2);\n }\n .keyword-item:last-child {\n border-bottom: none;\n margin-bottom: 0;\n padding-bottom: 0;\n }\n .keyword-ja {\n font-size: 1.05em;\n font-weight: 800;\n color: #e07b39;\n margin-bottom: 4px;\n }\n .keyword-en {\n font-size: 0.88em;\n color: #a8bbd4;\n font-style: italic;\n margin-bottom: 8px;\n letter-spacing: 0.04em;\n }\n .keyword-desc {\n font-size: 0.94em;\n color: #ccc;\n line-height: 1.75;\n }\n .footer-note {\n margin-top: 48px;\n padding-top: 20px;\n border-top: 2px solid #dde3ee;\n font-size: 0.84em;\n color: #888;\n text-align: center;\n }\n strong {\n color: #0f3460;\n }\n em {\n font-style: normal;\n background: linear-gradient(transparent 60%, #ffe0b2 60%);\n padding: 0 2px;\n }\n<\/style>\n<p><\/head><br \/>\n<body><\/p>\n<h1>\ud83d\udc3b\u200d\u2744\ufe0f \u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u8a9e\u308b\u300c1\u3064\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\u300d\u54f2\u5b66\uff5cSMB\u30ad\u30e3\u30d4\u30bf\u30eb\u5275\u8a2d\u8005\u30de\u30a4\u30af\u30fb\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u304c\u4f1d\u3048\u308b\u3001\u8ca0\u3051\u306a\u3044\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u80b2\u3066\u65b9<\/h1>\n<div class=\"hero-sub\">\ud83d\udcda \u66f8\u7c4d\u300eOne Good Trade\u300f\uff08Mike Bellafiore\u8457\uff09\u3092\u3082\u3068\u306b\u3001\u3057\u308d\u304f\u307e\u304c\u3084\u3055\u3057\u304f\u89e3\u8aac\u3059\u308b\u306e\u3058\u3083 \u2744\ufe0f<\/div>\n<p>\u4e16\u754c\u3067\u3082\u3063\u3068\u3082\u7af6\u4e89\u306e\u6fc0\u3057\u3044\u5834\u6240\u306e\u3072\u3068\u3064\u3001\u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u306e\u4e16\u754c\u306b\u30011\u518a\u306e\u6559\u79d1\u66f8\u304c\u3042\u308b\u3002\u30de\u30a4\u30af\u30fb\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u304c\u66f8\u3044\u305f\u300eOne Good Trade\uff1aInside the Highly Competitive World of Proprietary Trading\u300f\u304c\u305d\u308c\u3058\u3083\u30022010\u5e74\u306bJohn Wiley & 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class=\"dialogue-block\">\n<p><span class=\"bear-teddy\">\ud83e\uddf8 \u30c6\u30c7\u30a3\uff1a<\/span>\u300c\u3057\u308d\u304f\u307e\u3061\u3083\u3093\u3001\u6700\u521d\u306e6\u30f6\u6708\u3067\u5168\u7136\u5132\u304b\u3089\u306a\u304b\u3063\u305f\u306e\u306b\u3001\u306a\u3093\u3067\u7d9a\u3051\u3089\u308c\u305f\u306e\uff1f\u300d<\/p>\n<p><span class=\"bear-white\">\ud83d\udc3b\u200d\u2744\ufe0f \u3057\u308d\u304f\u307e\uff1a<\/span>\u300c\u3062\u3083\u304b\u3089\u3001\u305d\u308c\u3053\u305d\u304c\u672c\u66f8\u306e\u6838\u5fc3\u306e\u3072\u3068\u3064\u306a\u306e\u3058\u3083\u3002\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u306f\u8a9e\u3063\u3066\u304a\u308b\u2014\u2014<em>\u3069\u3093\u306a\u4e00\u6d41\u30d1\u30d5\u30a9\u30fc\u30de\u30fc\u3082\u3001\u6700\u521d\u304b\u3089\u4e00\u6d41\u3067\u306f\u306a\u304b\u3063\u305f<\/em>\u3001\u3068\u306a\u3002\u30de\u30a4\u30b1\u30eb\u30fb\u30b8\u30e7\u30fc\u30c0\u30f3\u306f\u9ad8\u68212\u5e74\u3067\u30d0\u30fc\u30b7\u30c6\u30a3\u30c1\u30fc\u30e0\u306b\u9078\u3070\u308c\u306a\u304b\u3063\u305f\u3002\u30bf\u30a4\u30ac\u30fc\u30fb\u30a6\u30c3\u30ba\u306f\u6bce\u65e5\u4f55\u6642\u9593\u3082\u306e\u7df4\u7fd2\u3092\u7d9a\u3051\u305f\u3002\u30de\u30eb\u30b3\u30e0\u30fb\u30b0\u30e9\u30c3\u30c9\u30a6\u30a7\u30eb\u304c\u300e\u30a2\u30a6\u30c8\u30e9\u30a4\u30a2\u30fc\u30ba\u300f\u3067\u63d0\u5531\u3057\u305f1\u4e07\u6642\u9593\u306e\u6cd5\u5247\u3082\u5f15\u7528\u3055\u308c\u3066\u304a\u308b\u3002GMan\u306b\u8db3\u308a\u306a\u304b\u3063\u305f\u306e\u306f\u624d\u80fd\u3067\u306f\u306a\u304f\u3001<em>\u6642\u9593\u3068\u6b63\u3057\u3044\u8a13\u7df4<\/em>\u3058\u3083\u3063\u305f\u3002\uff8c\uff6b\uff8c\uff6b\u3002\u300d<\/p>\n<\/div>\n<h2>\ud83c\udf1f 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class=\"dialogue-block\">\n<p><span class=\"bear-teddy\">\ud83e\uddf8 \u30c6\u30c7\u30a3\uff1a<\/span>\u300c\u3057\u308d\u304f\u307e\u3061\u3083\u3093\u3001\u300eP&L\uff08\u640d\u76ca\uff09\u3092\u96a0\u305b\u300f\u3063\u3066\u3044\u3046\u8a71\u3001\u3059\u3054\u304f\u5909\u306a\u611f\u3058\u304c\u3059\u308b\u3002\u78ba\u8a8d\u3057\u306a\u304f\u3066\u3044\u3044\u306e\uff1f\u300d<\/p>\n<p><span class=\"bear-white\">\ud83d\udc3b\u200d\u2744\ufe0f \u3057\u308d\u304f\u307e\uff1a<\/span>\u300c\uff8a\uff6f\uff8a\uff70\u3001\u305d\u3046\u601d\u3046\u3058\u3083\u308d\uff01\u3067\u3082\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u306f\u8a00\u3046\u306e\u3058\u3083\u3002\u521d\u671f\u306e\u30c8\u30ec\u30fc\u30c0\u30fc\u306b\u3068\u3063\u3066\u3001P&L\u306e\u30b9\u30b3\u30a2\u30dc\u30fc\u30c9\u306f\u8aa4\u3063\u305f\u30d5\u30a3\u30fc\u30c9\u30d0\u30c3\u30af\u3092\u4e0e\u3048\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u30021\u65e5\u306b1,500\u30c9\u30eb\u7a3c\u3044\u3060\u3068\u3057\u3066\u3082\u3001\u305d\u306e\u65b9\u6cd5\u304c\u5b8c\u5168\u306b\u9593\u9055\u3063\u3066\u304a\u308c\u3070\uff08\u5f31\u3044\u682a\u306b\u4e57\u3063\u305f\u308a\u3001\u30c0\u30d6\u30eb\u30c0\u30a6\u30f3\u3057\u305f\u308a\uff09\u3001\u305d\u308c\u306f\u5b66\u7fd2\u306b\u306a\u3089\u306a\u3044\u3069\u3053\u308d\u304b\u60aa\u7fd2\u6163\u3092\u5f37\u5316\u3059\u308b\u3060\u3051\u3058\u3083\u3002\u3086\u3048\u306b<em>\u300c\u30b9\u30ad\u30eb\u3092\u78e8\u304f\u3053\u3068\u304c\u76ee\u7684\u3001\u5229\u76ca\u306f\u305d\u306e\u7d50\u679c\u300d<\/em>\u3068\u3044\u3046\u30de\u30a4\u30f3\u30c9\u30bb\u30c3\u30c8\u304c\u5fc5\u8981\u3058\u3083\u3002\u9032\u6357\u306f\u6570\u5b57\u3067\u306f\u306a\u304f\u3001\u6bce\u65e5\u5c11\u3057\u305a\u3064\u4e0a\u624b\u304f\u306a\u3063\u3066\u3044\u308b\u304b\u3069\u3046\u304b\u3067\u6e2c\u308b\u306e\u3058\u3083\u3002\u300d<\/p>\n<\/div>\n<h2>\ud83c\udfb5 \u7b2c\u4e09\u90e8\uff1a\u30c6\u30af\u30cb\u30ab\u30eb\u306e\u6838\u5fc3\u2014\u2014\u300cStocks In Play\uff08\u30d7\u30ec\u30a4\u4e2d\u306e\u682a\uff09\u300d\u3068\u300c\u30c6\u30fc\u30d7\u30ea\u30fc\u30c7\u30a3\u30f3\u30b0\u300d<\/h2>\n<p>\u672c\u66f8\u306e\u6280\u8853\u7684\u306a\u90e8\u5206\u3067\u6700\u3082\u91cd\u8981\u306a\u306e\u304c\u3001<em>\u300cStocks In Play\u300d<\/em>\u306e\u6982\u5ff5\u3068\u30c6\u30fc\u30d7\u30ea\u30fc\u30c7\u30a3\u30f3\u30b0\u306e\u30b9\u30ad\u30eb\u3058\u3083\u3002SMB\u30ad\u30e3\u30d4\u30bf\u30eb\u3067\u306f\u3001\u6bce\u671d8\u664230\u5206\u306e\u30df\u30fc\u30c6\u30a3\u30f3\u30b0\u3067\u305d\u306e\u65e5\u6700\u3082\u6ce8\u76ee\u3059\u3079\u304d\u682a\u3092\u7d5e\u308a\u8fbc\u3080\u3002\u91cd\u8981\u306a\u306e\u306f\u3001\u300c\u52d5\u304f\u53ef\u80fd\u6027\u304c\u3042\u308b\u682a\u300d\u3067\u306f\u306a\u304f\u3001<em>\u5b9f\u969b\u306b\u6a5f\u95a2\u6295\u8cc7\u5bb6\u3084\u5927\u304d\u306a\u30aa\u30fc\u30c0\u30fc\u30d5\u30ed\u30fc\u304c\u5b58\u5728\u3059\u308b\u682a<\/em>\u3092\u9078\u3076\u3068\u3044\u3046\u3053\u3068\u3058\u3083\u3002\u3053\u308c\u3092Stocks In Play\u3068\u547c\u3076\u3002<\/p>\n<p>\u306a\u305cStocks In Play\u306b\u3053\u3060\u308f\u308b\u306e\u304b\uff1f\u305d\u308c\u306f\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u53d6\u5f15\uff08\u30d6\u30e9\u30c3\u30af\u30dc\u30c3\u30af\u30b9\uff09\u3068\u306e\u95a2\u4fc2\u306b\u7b54\u3048\u304c\u3042\u308b\u3002\u901a\u5e38\u306e\u682a\u3067\u306f\u3001\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u30d7\u30ed\u30b0\u30e9\u30e0\u304c\u77ed\u671f\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u8cb7\u3044\u3092\u9006\u624b\u306b\u53d6\u308a\u3001\u8cc7\u91d1\u3092\u596a\u3063\u3066\u3044\u304f\u3002\u3057\u304b\u3057Stocks In Play\u306b\u306f\u672c\u7269\u306e\u5927\u304d\u306a\u30aa\u30fc\u30c0\u30fc\u304c\u6d41\u308c\u8fbc\u3093\u3067\u304f\u308b\u305f\u3081\u3001\u30d7\u30ed\u30b0\u30e9\u30e0\u306e\u5727\u529b\u3092\u8df3\u306d\u8fd4\u3059\u529b\u304c\u3042\u308b\u3002<em>\u300c\u3042\u306a\u305f\u304c\u826f\u3044\u30c8\u30ec\u30fc\u30c0\u30fc\u304b\u3069\u3046\u304b\u306f\u3001\u3042\u306a\u305f\u304c\u53d6\u5f15\u3059\u308b\u682a\u306e\u8cea\u3067\u6c7a\u307e\u308b\u300d<\/em>\u2014\u2014\u3053\u308c\u304cSMB\u306e\u4fe1\u5ff5\u3058\u3083\u3002<\/p>\n<p>\u30c6\u30fc\u30d7\u30ea\u30fc\u30c7\u30a3\u30f3\u30b0\u3001\u3064\u307e\u308a\u300c\u677f\u8aad\u307f\u300d\u3068\u306f\u3001\u6b69\u307f\u5024\uff08\u7d04\u5b9a\u5c65\u6b74\uff09\u30fb\u30d3\u30c3\u30c9\uff08\u8cb7\u3044\u5024\uff09\u30fb\u30aa\u30d5\u30a1\u30fc\uff08\u58f2\u308a\u5024\uff09\u306e\u52d5\u304d\u3060\u3051\u3092\u898b\u3066\u3001\u6b21\u306b\u682a\u4fa1\u304c\u4e0a\u304c\u308b\u304b\u4e0b\u304c\u308b\u304b\u309270%\u4ee5\u4e0a\u306e\u78ba\u7387\u3067\u4e88\u6e2c\u3059\u308b\u6280\u8853\u3058\u3083\u3002\u30c1\u30e3\u30fc\u30c8\u3082\u3001\u30cb\u30e5\u30fc\u30b9\u3082\u3001\u306a\u304f\u3068\u3082\u3044\u3044\u2014\u2014\u30c6\u30fc\u30d7\u3060\u3051\u3067\u52dd\u8ca0\u3067\u304d\u308b\u30ec\u30d9\u30eb\u3092\u76ee\u6307\u3059\u3002\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u81ea\u8eab\u30011990\u5e74\u4ee3\u5f8c\u534a\u306f\u30c1\u30e3\u30fc\u30c8\u3082CNBC\u3082\u306a\u304f\u3001\u7d14\u7c8b\u306b\u30c6\u30fc\u30d7\u3060\u3051\u3067\u83ab\u5927\u306a\u5229\u76ca\u3092\u5f97\u3066\u304a\u3063\u305f\u3002\u3053\u308c\u306f\u4eca\u306e\u6642\u4ee3\u3067\u3082\u5b66\u3076\u4fa1\u5024\u304c\u3042\u308b\u672c\u8cea\u7684\u30b9\u30ad\u30eb\u3058\u3083\u3068\u3001\u5f37\u8abf\u3055\u308c\u3066\u304a\u308b\u3002<\/p>\n<div class=\"dialogue-block\">\n<p><span class=\"bear-teddy\">\ud83e\uddf8 \u30c6\u30c7\u30a3\uff1a<\/span>\u300c\u3057\u308d\u304f\u307e\u3061\u3083\u3093\u3001\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u53d6\u5f15\u3063\u3066\u3001\u500b\u4eba\u306b\u306f\u52dd\u3066\u306a\u3044\u306e\uff1f\u300d<\/p>\n<p><span class=\"bear-white\">\ud83d\udc3b\u200d\u2744\ufe0f 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Play\u306e\u4e2d\u3067\u306f\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u304c\u6a5f\u80fd\u3057\u306b\u304f\u3044<\/em>\u3002\u554f\u984c\u304b\u3089\u9003\u3052\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u554f\u984c\u306e\u3042\u308b\u5834\u6240\u304b\u3089\u6709\u5229\u306a\u5834\u6240\u3078\u79fb\u52d5\u3059\u308b\u2014\u2014\u3053\u308c\u304c\u7b54\u3048\u3058\u3083\u3002\uff8c\uff6b\uff8c\uff6b\u3002\u300d<\/p>\n<\/div>\n<h2>\u2728 \u7b2c\u56db\u90e8\uff1a\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u8133\u2014\u2014\u6700\u826f\u306e\u6559\u5e2b\u306f\u4f55\u304b<\/h2>\n<p>\u672c\u66f8\u306e\u5f8c\u534a\u3067\u306f\u3001\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u5fc3\u7406\u3068\u6559\u80b2\u54f2\u5b66\u304c\u6df1\u304f\u6398\u308a\u4e0b\u3052\u3089\u308c\u308b\u3002SMB\u30ad\u30e3\u30d4\u30bf\u30eb\u3067\u306f\u3001\u6bce\u65e5\u306e\u30c8\u30ec\u30fc\u30c9\u6620\u50cf\u3092\u9332\u753b\u3057\u3066\u30ec\u30d3\u30e5\u30fc\u3057\u3001\u6570\u5024\u3092\u8a73\u7d30\u306b\u8a18\u9332\u3059\u308bSMB\u30c1\u30e7\u30c3\u30d7\u30c8\u30e9\u30c3\u30ab\u30fc\u3092\u4f7f\u3044\u3001\u6bce\u671d\u30fb\u6b63\u5348\u30fb\u9589\u5834\u5f8c\u306e\u30df\u30fc\u30c6\u30a3\u30f3\u30b0\u3067\u30a2\u30a4\u30c7\u30a2\u3092\u5171\u6709\u3059\u308b\u3002\u306a\u304b\u3067\u3082\u300c\u30c8\u30ec\u30fc\u30c9\u306b\u3064\u3044\u3066\u4ed6\u306e\u30c8\u30ec\u30fc\u30c0\u30fc\u3068\u8a71\u3059\u3053\u3068\u300d\u306e\u91cd\u8981\u6027\u304c\u7e70\u308a\u8fd4\u3057\u5f37\u8abf\u3055\u308c\u3066\u304a\u308b\u3002<\/p>\n<p>\u8208\u5473\u6df1\u3044\u306e\u306f\u3001\u300c\u4e00\u6d41\u306e\u30b9\u30bf\u30fc\u30c8\u30ec\u30fc\u30c0\u30fc\u3060\u3051\u304b\u3089\u5b66\u307c\u3046\u300d\u3068\u3044\u3046\u30a2\u30c9\u30d0\u30a4\u30b9\u3078\u306e\u53cd\u8ad6\u3058\u3083\u3002GMan\u306f\u8a9e\u3063\u3066\u3044\u308b\u2014\u2014<em>\u540c\u671f\u306e\u4ef2\u9593\u304c\u4e0a\u624b\u304f\u3044\u3063\u305f\u30c8\u30ec\u30fc\u30c9\u306e\u8aac\u660e\u306f\u3001\u30d9\u30c6\u30e9\u30f3\u306e\u8907\u96d1\u306a\u8aac\u660e\u3088\u308a\u3082\u5fc3\u306b\u6b8b\u308b<\/em>\u3001\u3068\u3002\u300c\u3082\u3057-then\u300d\u306e\u6761\u4ef6\u5206\u5c90\u3060\u3089\u3051\u306e\u719f\u7df4\u8005\u306e\u8aac\u660e\u3088\u308a\u3001\u540c\u3058\u76ee\u7dda\u306e\u521d\u5fc3\u8005\u304c\u565b\u307f\u7815\u3044\u305f\u8a00\u8449\u306e\u65b9\u304c\u5b66\u3073\u306b\u306a\u308b\u3053\u3068\u304c\u3042\u308b\u3002\u3053\u308c\u306f\u300c\u6559\u3048\u308b\u3053\u3068\u3067\u6700\u3082\u6df1\u304f\u5b66\u3076\u300d\u3068\u3044\u3046\u6559\u80b2\u306e\u539f\u5247\u3068\u4e00\u81f4\u3057\u3066\u304a\u308b\u306e\u3058\u3083\u3002<\/p>\n<p>\u305d\u3057\u3066\u672c\u66f8\u304c\u6700\u7d42\u7684\u306b\u884c\u304d\u7740\u304f\u7b54\u3048\u304c\u3001\u30bf\u30a4\u30c8\u30eb\u306b\u3082\u306a\u3063\u3066\u3044\u308b\u6982\u5ff5\u3058\u3083\u3002\u30c7\u30e5\u30fc\u30af\u5927\u5b66\u306e\u30d0\u30b9\u30b1\u30c3\u30c8\u30dc\u30fc\u30eb\u6307\u5c0e\u8005\u30af\u30b7\u30a7\u30d5\u30b9\u30ad\u30fc\u306f\u9078\u624b\u306b\u300cNext Play\uff08\u6b21\u306e\u30d7\u30ec\u30fc\uff09\u300d\u3068\u53eb\u3076\u3002SMB\u3067\u306f\u300cOne Good Trade\uff08\u4e00\u3064\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\uff09\u300d\u3068\u8a00\u3046\u3002\u904e\u53bb\u306e\u30c8\u30ec\u30fc\u30c9\u3092\u5f15\u304d\u305a\u3089\u305a\u3001\u672a\u6765\u306e\u5927\u304d\u306a\u5229\u76ca\u3092\u5922\u898b\u3066\u7121\u8b00\u306b\u306a\u308b\u3053\u3068\u3082\u306a\u304f\u3001<em>\u4eca\u3053\u306e\u77ac\u9593\u3001\u76ee\u306e\u524d\u306e1\u3064\u306e\u30c8\u30ec\u30fc\u30c9\u3092\u3067\u304d\u308b\u9650\u308a\u6b63\u3057\u304f\u57f7\u884c\u3059\u308b<\/em>\u2014\u2014\u305d\u308c\u3060\u3051\u3092\u7e70\u308a\u8fd4\u3059\u3002\u3053\u308c\u304c\u30d7\u30ed\u306e\u54f2\u5b66\u3058\u3083\u3002<\/p>\n<div class=\"highlight-box\">\n <strong>\ud83d\udc3b\u200d\u2744\ufe0f\u3063\uff8b\uff9f\uff7c\uff6f \u6838\u5fc3\u307e\u3068\u3081\u3058\u3083\uff01<\/strong><\/p>\n<p> \u300cOne Good Trade\u300d\u306e\u54f2\u5b66\u306f\u3001\u5e02\u5834\u3060\u3051\u3067\u306a\u304f\u4eba\u751f\u5168\u822c\u306b\u901a\u3058\u308b\u77e5\u6075\u3058\u3083\u3002\u300c\u4e00\u3064\u306e\u3053\u3068\u3092\u3001\u3067\u304d\u308b\u9650\u308a\u3088\u304f\u3084\u308a\u5207\u308b\u300d\u2014\u2014\u3053\u306e\u7a4d\u307f\u91cd\u306d\u304c\u3001\u9577\u671f\u7684\u306a\u6210\u679c\u3092\u3064\u304f\u308b\u3002\u5927\u304d\u306a\u30d3\u30b8\u30e7\u30f3\u306f\u5927\u5207\u3058\u3083\u304c\u3001\u4eca\u3053\u306e\u77ac\u9593\u306e\u8cea\u3053\u305d\u304c\u5168\u3066\u3092\u6c7a\u3081\u308b\u306e\u3058\u3083\u3002\uff8c\uff6b\uff8c\uff6b\u3002\n<\/p><\/div>\n<h2>\ud83c\udf43 Claude\u304b\u3089\u306e\u88dc\u8db3\uff1a\u3053\u306e\u66f8\u7c4d\u304c\u8a9e\u308b\u6642\u4ee3\u80cc\u666f\u3068\u73fe\u4ee3\u7684\u610f\u7fa9<\/h2>\n<p>\u672c\u66f8\u306f2010\u5e74\u306e\u51fa\u7248\u3058\u3083\u304c\u3001\u305d\u306e\u5185\u5bb9\u306e\u672c\u8cea\u306f\u8272\u3042\u305b\u3066\u304a\u3089\u306c\u3002\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u304c2008\u5e74\u306e\u91d1\u878d\u5371\u6a5f\u3092\u7d4c\u9a13\u3057\u306a\u304c\u3089\u8a9e\u308b\u30ea\u30b9\u30af\u7ba1\u7406\u306e\u54f2\u5b66\u3001\u6bb5\u968e\u7684\u306a\u30b9\u30ad\u30eb\u7a4d\u307f\u4e0a\u3052\u306e\u7406\u8ad6\u3001\u305d\u3057\u3066\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u53f0\u982d\u3078\u306e\u5bfe\u5fdc\u6226\u7565\u306f\u30012020\u5e74\u4ee3\u4ee5\u964d\u306e\u5e02\u5834\u306b\u304a\u3044\u3066\u3082\u5341\u5206\u306a\u793a\u5506\u3092\u6301\u3064\u3002\u7279\u306b<em>\u300c\u898f\u5f8b\u3042\u308b\u7df4\u7fd2\u91cf\uff081\u4e07\u6642\u9593\u306e\u6cd5\u5247\uff09\u300d<\/em>\u306f\u30b0\u30e9\u30c3\u30c9\u30a6\u30a7\u30eb\u306e\u7814\u7a76\u3068\u3082\u4e00\u81f4\u3057\u3001\u30b9\u30dd\u30fc\u30c4\u30fb\u97f3\u697d\u30fb\u30d7\u30ed\u30b0\u30e9\u30df\u30f3\u30b0\u306a\u3069\u4ed6\u306e\u5206\u91ce\u306e\u5b66\u7fd2\u7406\u8ad6\u3068\u3082\u6df1\u304f\u5171\u9cf4\u3057\u3066\u304a\u308b\u3002<\/p>\n<p>\u307e\u305f\u65e5\u672c\u306e\u500b\u4eba\u6295\u8cc7\u5bb6\u306e\u8996\u70b9\u304b\u3089\u306f\u3001\u7c73\u56fd\u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u3068\u3044\u3046\u4ed5\u7d44\u307f\u81ea\u4f53\u304c\u307b\u3068\u3093\u3069\u77e5\u3089\u308c\u3066\u304a\u3089\u3093\u3002\u8a3c\u5238\u4f1a\u793e\u306e\u81ea\u5df1\u58f2\u8cb7\u90e8\u9580\u3068\u306f\u7570\u306a\u308b\u72ec\u7acb\u3057\u305f\u30d5\u30a1\u30fc\u30e0\u304c\u3001\u56fd\u5bb6\u8a66\u9a13\u306a\u3057\u3067\u512a\u79c0\u306a\u82e5\u8005\u3092\u63a1\u7528\u3057\u3001\u5fb9\u5e95\u7684\u306b\u80b2\u3066\u4e0a\u3052\u308b\u3068\u3044\u3046\u30e2\u30c7\u30eb\u306f\u3001\u3072\u3068\u3064\u306e\u8077\u696d\u3068\u3057\u3066\u306e\u300c\u30c8\u30ec\u30fc\u30c0\u30fc\u300d\u306e\u53ef\u80fd\u6027\u3092\u793a\u3059\u3082\u306e\u3068\u3057\u3066\u8aad\u3081\u308b\u306e\u3058\u3083\u3002<\/p>\n<p>\u306a\u304a\u8457\u8005\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u306f\u73fe\u5728\u3082SMB\u30ad\u30e3\u30d4\u30bf\u30eb\u3067\u30b3\u30fc\u30c1\u30f3\u30b0\u3084\u30b3\u30f3\u30c6\u30f3\u30c4\u767a\u4fe1\u3092\u7d9a\u3051\u3066\u304a\u308a\u3001YouTube\u3084\u30d6\u30ed\u30b0\u3067\u306e\u30d7\u30ec\u30bc\u30f3\u30b9\u3092\u7dad\u6301\u3057\u3066\u304a\u308b\u3002\u672c\u66f8\u306f\u30a6\u30a3\u30ea\u30fc\u30fb\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u30b7\u30ea\u30fc\u30ba\u306e1\u518a\u3068\u3057\u3066\u4eca\u306a\u304a\u5165\u624b\u53ef\u80fd\u3058\u3083\u3002<\/p>\n<div class=\"dialogue-block\">\n<p><span class=\"bear-teddy\">\ud83e\uddf8 \u30c6\u30c7\u30a3\uff1a<\/span>\u300c\u3057\u308d\u304f\u307e\u3061\u3083\u3093\u3001\u3053\u306e\u672c\u3001\u30c8\u30ec\u30fc\u30c0\u30fc\u4ee5\u5916\u306e\u4eba\u306b\u3082\u610f\u5473\u3042\u308b\u306e\uff1f\u300d<\/p>\n<p><span class=\"bear-white\">\ud83d\udc3b\u200d\u2744\ufe0f \u3057\u308d\u304f\u307e\uff1a<\/span>\u300c\uff8c\uff6b\uff8c\uff6b\u3001\u5b9f\u306f\u3068\u3066\u3082\u610f\u5473\u304c\u3042\u308b\u306e\u3058\u3083\u3002<em>\u30b9\u30ad\u30eb\u306f\u751f\u307e\u308c\u3064\u304d\u3067\u306f\u306a\u304f\u3001\u6b63\u3057\u3044\u7df4\u7fd2\u306e\u7a4d\u307f\u91cd\u306d\u3067\u80b2\u3064<\/em>\u3068\u3044\u3046\u30e1\u30c3\u30bb\u30fc\u30b8\u306f\u666e\u904d\u7684\u3058\u3083\u3002\u640d\u5207\u308a\u306e\u6f54\u3055\uff08\u8ca0\u3051\u3092\u8a8d\u3081\u3066\u3059\u3050\u6b21\u3078\uff09\u3001P&L\u3088\u308a\u30d7\u30ed\u30bb\u30b9\u3092\u91cd\u8996\u3059\u308b\u59ff\u52e2\u3001\u6570\u5024\u3067\u81ea\u5206\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u5ba2\u89b3\u8996\u3059\u308b\u3053\u3068\u2014\u2014\u3053\u308c\u3089\u306f\u3069\u3093\u306a\u4ed5\u4e8b\u3084\u5b66\u7fd2\u306b\u3082\u5fdc\u7528\u3067\u304d\u308b\u77e5\u6075\u3058\u3083\u3002\u308f\u3057\u304c\u9577\u5e74\u306c\u3044\u3050\u308b\u307f\u3068\u3057\u3066\u773a\u3081\u3066\u304d\u305f\u4e2d\u3067\u8a00\u3048\u308b\u306e\u306f\u3001<em>\u4e00\u6d41\u306b\u306a\u3063\u305f\u8005\u306f\u307f\u306a\u3001\u76ee\u306e\u524d\u306e1\u3064\u306e\u3053\u3068\u3092\u4e01\u5be7\u306b\u3084\u308a\u7d9a\u3051\u305f<\/em>\u3068\u3044\u3046\u3053\u3068\u3058\u3083\u3088\u3002\uff8a\uff6f\uff8a\uff70\u3002\u300d<\/p>\n<\/div>\n<div class=\"keyword-section\">\n<h2>\ud83d\udcd6 \u7528\u8a9e\u89e3\u8aac\u30b3\u30fc\u30ca\u30fc \u2014\u2014\u65e5\u672c\u8a9e\u3068\u82f1\u8a9e\u3067\u899a\u3048\u308b\u306e\u3058\u3083\u2744\ufe0f<\/h2>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\uff08\u81ea\u5df1\u52d8\u5b9a\u30c8\u30ec\u30fc\u30c0\u30fc\uff09<\/div>\n<div class=\"keyword-en\">Proprietary Trader \/ Prop Trader<\/div>\n<div class=\"keyword-desc\">\u9867\u5ba2\u306e\u8cc7\u91d1\u3067\u306f\u306a\u304f\u3001\u81ea\u793e\uff08\u30d5\u30a1\u30fc\u30e0\uff09\u306e\u8cc7\u91d1\u3092\u7528\u3044\u3066\u5e02\u5834\u3067\u53d6\u5f15\u3092\u884c\u3046\u30d7\u30ed\u306e\u30c8\u30ec\u30fc\u30c0\u30fc\u3002\u640d\u76ca\u304c\u305d\u306e\u307e\u307e\u4f1a\u793e\u306e\u640d\u76ca\u3068\u306a\u308b\u3002\u82f1\u8a9e\u3067\u306f “prop” \u306fprietary\u306e\u7565\u3067\u3001”prop trading”\u3068\u65e5\u5e38\u7684\u306b\u4f7f\u308f\u308c\u308b\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u640d\u76ca\uff08P&L\uff09<\/div>\n<div class=\"keyword-en\">P&L (Profit and Loss)<\/div>\n<div class=\"keyword-desc\">Profit\uff08\u5229\u76ca\uff09\u3068Loss\uff08\u640d\u5931\uff09\u306e\u5408\u8a08\u3092\u793a\u3059\u6307\u6a19\u3002\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u6210\u7e3e\u8868\u3068\u3082\u8a00\u3048\u308b\u3002”My P&L is up today.” \u3067\u300c\u4eca\u65e5\u306f\u640d\u76ca\u30d7\u30e9\u30b9\u3060\u300d\u306e\u610f\u5473\u3002\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u73fe\u5834\u3067\u306f “PnL” \u3068\u66f8\u304f\u3053\u3068\u3082\u3042\u308b\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30c6\u30fc\u30d7\u30ea\u30fc\u30c7\u30a3\u30f3\u30b0\uff08\u677f\u8aad\u307f\uff09<\/div>\n<div class=\"keyword-en\">Reading the Tape \/ Tape Reading<\/div>\n<div class=\"keyword-desc\">\u6b69\u307f\u5024\u30fb\u30d3\u30c3\u30c9\u30fb\u30aa\u30d5\u30a1\u30fc\u306e\u52d5\u304d\u3092\u8aad\u307f\u89e3\u304d\u3001\u6b21\u306e\u682a\u4fa1\u52d5\u5411\u3092\u4e88\u6e2c\u3059\u308b\u30b9\u30ad\u30eb\u3002\u304b\u3064\u3066\u306e\u682a\u5f0f\u5e02\u5834\u3067\u306f\u53d6\u5f15\u8a18\u9332\u304c\u30c6\u30fc\u30d7\uff08\u7d19\u30c6\u30fc\u30d7\uff09\u3067\u51fa\u529b\u3055\u308c\u3066\u3044\u305f\u3053\u3068\u304c\u8a9e\u6e90\u3002\u73fe\u4ee3\u3067\u306f\u96fb\u5b50\u7684\u306a\u677f\u60c5\u5831\u3092\u8aad\u3080\u6280\u8853\u3092\u6307\u3059\u3002”He’s excellent at reading the tape.” \u306a\u3069\u3068\u4f7f\u3046\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">Stocks In Play\uff08\u6ce8\u76ee\u682a\u30fb\u672c\u65e5\u306e\u4e3b\u5f79\u682a\uff09<\/div>\n<div class=\"keyword-en\">Stocks In Play<\/div>\n<div class=\"keyword-desc\">\u305d\u306e\u65e5\u306b\u5927\u304d\u306a\u6a5f\u95a2\u6295\u8cc7\u5bb6\u30aa\u30fc\u30c0\u30fc\u3084\u91cd\u8981\u306a\u30cb\u30e5\u30fc\u30b9\u304c\u5165\u308a\u3001\u5927\u304d\u304f\u52d5\u304f\u53ef\u80fd\u6027\u304c\u3042\u308b\u682a\u3002SMB\u30ad\u30e3\u30d4\u30bf\u30eb\u3067\u306f\u3053\u306e\u682a\u306e\u307f\u306b\u96c6\u4e2d\u3059\u308b\u3053\u3068\u3092\u57fa\u672c\u6226\u7565\u3068\u3057\u3066\u3044\u308b\u3002”This stock is in play today due to earnings.” \u3068\u3044\u3046\u5f62\u3067\u4f7f\u308f\u308c\u308b\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30d6\u30e9\u30c3\u30af\u30dc\u30c3\u30af\u30b9\uff08\u81ea\u52d5\u58f2\u8cb7\u30d7\u30ed\u30b0\u30e9\u30e0\uff09<\/div>\n<div class=\"keyword-en\">Black Box \/ Algorithmic Trading Program<\/div>\n<div class=\"keyword-desc\">\u4e00\u5b9a\u306e\u30eb\u30fc\u30eb\u306b\u57fa\u3065\u3044\u3066\u81ea\u52d5\u7684\u306b\u58f2\u8cb7\u3092\u5b9f\u884c\u3059\u308b\u30b3\u30f3\u30d4\u30e5\u30fc\u30bf\u30fc\u30d7\u30ed\u30b0\u30e9\u30e0\u3002\u5185\u90e8\u306e\u30ed\u30b8\u30c3\u30af\u304c\u5916\u90e8\u304b\u3089\u306f\u898b\u3048\u306a\u3044\u305f\u3081\u300c\u30d6\u30e9\u30c3\u30af\u30dc\u30c3\u30af\u30b9\u300d\u3068\u547c\u3070\u308c\u308b\u3002\u9ad8\u983b\u5ea6\u53d6\u5f15\uff08HFT\uff09\u3068\u7d44\u307f\u5408\u308f\u305b\u3066\u4f7f\u308f\u308c\u308b\u3053\u3068\u3082\u591a\u3044\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30a8\u30c3\u30b8\uff08\u512a\u4f4d\u6027\uff09<\/div>\n<div class=\"keyword-en\">Edge<\/div>\n<div class=\"keyword-desc\">\u4ed6\u306e\u5e02\u5834\u53c2\u52a0\u8005\u3068\u6bd4\u3079\u3066\u3001\u81ea\u5206\u304c\u6709\u5229\u306b\u7acb\u3066\u308b\u6761\u4ef6\u30fb\u72b6\u6cc1\u30fb\u30b9\u30ad\u30eb\u306e\u3053\u3068\u3002”Do I have an edge in this trade?” \u306f\u300c\u3053\u306e\u30c8\u30ec\u30fc\u30c9\u3067\u81ea\u5206\u306b\u512a\u4f4d\u6027\u304c\u3042\u308b\u304b\uff1f\u300d\u3068\u3044\u3046\u610f\u5473\u3002\u30c8\u30ec\u30fc\u30c0\u30fc\u306f\u30a8\u30c3\u30b8\u304c\u3042\u308b\u5834\u9762\u306e\u307f\u3067\u53d6\u5f15\u3059\u308b\u3079\u304d\u3068\u3055\u308c\u308b\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30ea\u30b9\u30af\u8abf\u6574\u6e08\u307f\u30ea\u30bf\u30fc\u30f3<\/div>\n<div class=\"keyword-en\">Risk-Adjusted Return<\/div>\n<div class=\"keyword-desc\">\u3069\u308c\u3060\u3051\u306e\u30ea\u30b9\u30af\u3092\u53d6\u3063\u3066\u3069\u308c\u3060\u3051\u5229\u76ca\u3092\u5f97\u305f\u304b\u3092\u793a\u3059\u6307\u6a19\u3002\u5358\u7d14\u306a\u5229\u76ca\u984d\uff08\u30b0\u30ed\u30b9P&L\uff09\u3060\u3051\u3067\u306a\u304f\u3001\u305d\u306e\u30ea\u30b9\u30af\u306e\u5927\u304d\u3055\u3068\u7167\u3089\u3057\u5408\u308f\u305b\u3066\u8a55\u4fa1\u3059\u308b\u3002\u30b7\u30e3\u30fc\u30d7\u30ec\u30b7\u30aa\uff08Sharpe Ratio\uff09\u304c\u305d\u306e\u4ee3\u8868\u7684\u306a\u6307\u6a19\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u640d\u5207\u308a\u30fb\u30b9\u30c8\u30c3\u30d7\u30ed\u30b9<\/div>\n<div class=\"keyword-en\">Stop Loss \/ Stop Out<\/div>\n<div class=\"keyword-desc\">\u3042\u3089\u304b\u3058\u3081\u5b9a\u3081\u305f\u640d\u5931\u984d\u306b\u9054\u3057\u305f\u3089\u81ea\u52d5\u7684\u306b\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u6c7a\u6e08\u3059\u308b\u30eb\u30fc\u30eb\u307e\u305f\u306f\u6ce8\u6587\u3002”He was stopped out at $500.” \u306f\u300c500\u30c9\u30eb\u640d\u5931\u3067\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u5207\u3063\u305f\u300d\u306e\u610f\u5473\u3002\u611f\u60c5\u3092\u6392\u9664\u3057\u305f\u6a5f\u68b0\u7684\u306a\u640d\u5931\u7ba1\u7406\u306e\u4ed5\u7d44\u307f\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30aa\u30fc\u30c0\u30fc\u30d5\u30ed\u30fc<\/div>\n<div class=\"keyword-en\">Order Flow<\/div>\n<div class=\"keyword-desc\">\u5e02\u5834\u306b\u6d41\u308c\u8fbc\u3080\u8cb7\u3044\u30fb\u58f2\u308a\u306e\u6ce8\u6587\u306e\u6d41\u308c\u306e\u3053\u3068\u3002\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u5927\u53e3\u6ce8\u6587\u304c\u5165\u308b\u3068\u30aa\u30fc\u30c0\u30fc\u30d5\u30ed\u30fc\u304c\u5f37\u304f\u306a\u308a\u3001\u682a\u4fa1\u306f\u52d5\u304d\u3084\u3059\u304f\u306a\u308b\u3002”There’s strong order flow to the buy side.” \u306f\u300c\u8cb7\u3044\u65b9\u5411\u3078\u306e\u5927\u304d\u306a\u6ce8\u6587\u306e\u6d41\u308c\u304c\u3042\u308b\u300d\u3092\u610f\u5473\u3059\u308b\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30d7\u30ec\u30a4\u30d6\u30c3\u30af\uff08\u6226\u8853\u96c6\uff09<\/div>\n<div class=\"keyword-en\">Playbook<\/div>\n<div class=\"keyword-desc\">\u30a2\u30e1\u30d5\u30c8\u306a\u3069\u306e\u30b9\u30dd\u30fc\u30c4\u304b\u3089\u306e\u501f\u7528\u8a9e\u3067\u3001\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u7fd2\u5f97\u30fb\u5b9f\u884c\u3067\u304d\u308b\u58f2\u8cb7\u30d1\u30bf\u30fc\u30f3\u306e\u4e00\u89a7\u30fb\u6226\u8853\u96c6\u306e\u3053\u3068\u3002”Expand your playbook” \u3067\u300c\u4f7f\u3048\u308b\u6226\u8853\u306e\u30ec\u30d1\u30fc\u30c8\u30ea\u30fc\u3092\u5897\u3084\u305b\u300d\u306e\u610f\u5473\u3002SMB\u3067\u306f\u660e\u78ba\u306a\u30d7\u30ec\u30a4\u30d6\u30c3\u30af\u306e\u69cb\u7bc9\u3092\u63a8\u5968\u3057\u3066\u3044\u308b\u3002<\/div>\n<\/p><\/div>\n<\/div>\n<p class=\"footer-note\">\ud83d\udc3b\u200d\u2744\ufe0f \u672c\u8a18\u4e8b\u306fMike Bellafiore\u8457\u300eOne Good Trade: Inside the Highly Competitive World of Proprietary Trading\u300f\uff08John Wiley & Sons, 2010\uff09\u306e\u5185\u5bb9\u3092\u53c2\u8003\u306b\u3001\u3057\u308d\u304f\u307e\u304c\u89e3\u8aac\u3057\u305f\u3082\u306e\u3058\u3083\u3002\u6295\u8cc7\u30fb\u58f2\u8cb7\u306e\u63a8\u5968\u3067\u306f\u306a\u3044\u306e\u3067\u3054\u6ce8\u610f\u304f\u3060\u3055\u308c\u3002\u2744\ufe0f<\/p>\n<p><\/body><br \/>\n<\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u8a9e\u308b\u300c1\u3064\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\u300d\u54f2\u5b66\uff5cSMB\u30ad\u30e3\u30d4\u30bf\u30eb\u5275\u8a2d\u8005\u30de\u30a4\u30af\u30fb\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u306e\u6559\u3048 \ud83d\udc3b\u200d\u2744\ufe0f \u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u8a9e\u308b\u300c1\u3064\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\u300d\u54f2\u5b66\uff5cSMB\u30ad\u30e3\u30d4\u30bf\u30eb\u5275\u8a2d\u8005\u30de\u30a4\u30af\u30fb\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u304c\u4f1d\u3048\u308b\u3001 […]<\/p>\n","protected":false},"author":2,"featured_media":17814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19],"tags":[],"class_list":["post-18102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fxsenryaku"],"acf":[],"_links":{"self":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts\/18102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18102"}],"version-history":[{"count":3,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts\/18102\/revisions"}],"predecessor-version":[{"id":18105,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts\/18102\/revisions\/18105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/media\/17814"}],"wp:attachment":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

{"id":18102,"date":"2026-05-31T19:46:03","date_gmt":"2026-05-31T10:46:03","guid":{"rendered":"https:\/\/jyakusyadansei.com\/?p=18102"},"modified":"2026-05-31T19:46:03","modified_gmt":"2026-05-31T10:46:03","slug":"%f0%9f%90%bb%e2%9d%84%ef%b8%8f-%e3%83%97%e3%83%ad%e3%83%83%e3%83%97%e3%83%88%e3%83%ac%e3%83%bc%e3%83%80%e3%83%bc%e3%81%8c%e8%aa%9e%e3%82%8b%e3%80%8c1%e3%81%a4%e3%81%ae%e8%89%af%e3%81%84","status":"publish","type":"post","link":"https:\/\/jyakusyadansei.com\/?p=18102","title":{"rendered":"\ud83d\udc3b\u200d\u2744\ufe0f \u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u8a9e\u308b\u300c1\u3064\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\u300d\u54f2\u5b66\uff5cSMB\u30ad\u30e3\u30d4\u30bf\u30eb\u5275\u8a2d\u8005\u30de\u30a4\u30af\u30fb\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u304c\u4f1d\u3048\u308b\u3001\u8ca0\u3051\u306a\u3044\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u80b2\u3066\u65b9"},"content":{"rendered":"

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\n\u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u8a9e\u308b\u300c1\u3064\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\u300d\u54f2\u5b66\uff5cSMB\u30ad\u30e3\u30d4\u30bf\u30eb\u5275\u8a2d\u8005\u30de\u30a4\u30af\u30fb\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u306e\u6559\u3048<\/title><\/p>\n<style>\n body {\n font-family: \"Hiragino Kaku Gothic ProN\", \"Noto Sans JP\", \"Meiryo\", sans-serif;\n line-height: 1.9;\n color: #2c2c2c;\n background: #fafaf8;\n max-width: 860px;\n margin: 0 auto;\n padding: 20px 16px 60px;\n }\n h1 {\n font-size: 1.85em;\n font-weight: 900;\n color: #1a1a2e;\n line-height: 1.45;\n margin: 0 0 18px;\n padding: 24px 20px 20px;\n background: linear-gradient(135deg, #1a1a2e 0%, #16213e 60%, #0f3460 100%);\n color: #e8d5b7;\n border-radius: 4px 4px 0 0;\n letter-spacing: 0.02em;\n }\n .hero-sub {\n background: #16213e;\n color: #a8bbd4;\n padding: 12px 20px 18px;\n font-size: 0.88em;\n border-radius: 0 0 4px 4px;\n margin-bottom: 36px;\n }\n h2 {\n font-size: 1.25em;\n font-weight: 800;\n color: #1a1a2e;\n margin: 44px 0 16px;\n padding: 10px 16px 10px 20px;\n border-left: 5px solid #0f3460;\n background: #eef2f8;\n border-radius: 0 4px 4px 0;\n }\n h3 {\n font-size: 1.08em;\n font-weight: 700;\n color: #0f3460;\n margin: 32px 0 12px;\n }\n p {\n margin: 0 0 18px;\n font-size: 1.0em;\n }\n .dialogue-block {\n background: #fff;\n border: 1.5px solid #dde3ee;\n border-radius: 8px;\n padding: 20px 24px;\n margin: 24px 0;\n box-shadow: 0 2px 8px rgba(15,52,96,0.06);\n }\n .dialogue-block p {\n margin: 0 0 10px;\n }\n .dialogue-block p:last-child {\n margin-bottom: 0;\n }\n .bear-white {\n color: #0f3460;\n font-weight: 700;\n }\n .bear-teddy {\n color: #7b4a2d;\n font-weight: 700;\n }\n .highlight-box {\n background: linear-gradient(135deg, #fff8f0 0%, #fff3e0 100%);\n border-left: 4px solid #e07b39;\n padding: 16px 20px;\n margin: 24px 0;\n border-radius: 0 6px 6px 0;\n font-size: 0.97em;\n }\n .keyword-section {\n background: #1a1a2e;\n color: #e8d5b7;\n padding: 30px 28px;\n border-radius: 8px;\n margin: 48px 0 32px;\n }\n .keyword-section h2 {\n background: none;\n border-left: 3px solid #e07b39;\n color: #e8d5b7;\n font-size: 1.12em;\n padding: 4px 0 4px 14px;\n margin: 0 0 22px;\n }\n .keyword-item {\n margin: 0 0 20px;\n padding-bottom: 20px;\n border-bottom: 1px solid rgba(232,213,183,0.2);\n }\n .keyword-item:last-child {\n border-bottom: none;\n margin-bottom: 0;\n padding-bottom: 0;\n }\n .keyword-ja {\n font-size: 1.05em;\n font-weight: 800;\n color: #e07b39;\n margin-bottom: 4px;\n }\n .keyword-en {\n font-size: 0.88em;\n color: #a8bbd4;\n font-style: italic;\n margin-bottom: 8px;\n letter-spacing: 0.04em;\n }\n .keyword-desc {\n font-size: 0.94em;\n color: #ccc;\n line-height: 1.75;\n }\n .footer-note {\n margin-top: 48px;\n padding-top: 20px;\n border-top: 2px solid #dde3ee;\n font-size: 0.84em;\n color: #888;\n text-align: center;\n }\n strong {\n color: #0f3460;\n }\n em {\n font-style: normal;\n background: linear-gradient(transparent 60%, #ffe0b2 60%);\n padding: 0 2px;\n }\n<\/style>\n<p><\/head><br \/>\n<body><\/p>\n<h1>\ud83d\udc3b\u200d\u2744\ufe0f \u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u8a9e\u308b\u300c1\u3064\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\u300d\u54f2\u5b66\uff5cSMB\u30ad\u30e3\u30d4\u30bf\u30eb\u5275\u8a2d\u8005\u30de\u30a4\u30af\u30fb\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u304c\u4f1d\u3048\u308b\u3001\u8ca0\u3051\u306a\u3044\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u80b2\u3066\u65b9<\/h1>\n<div class=\"hero-sub\">\ud83d\udcda \u66f8\u7c4d\u300eOne Good Trade\u300f\uff08Mike Bellafiore\u8457\uff09\u3092\u3082\u3068\u306b\u3001\u3057\u308d\u304f\u307e\u304c\u3084\u3055\u3057\u304f\u89e3\u8aac\u3059\u308b\u306e\u3058\u3083 \u2744\ufe0f<\/div>\n<p>\u4e16\u754c\u3067\u3082\u3063\u3068\u3082\u7af6\u4e89\u306e\u6fc0\u3057\u3044\u5834\u6240\u306e\u3072\u3068\u3064\u3001\u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u306e\u4e16\u754c\u306b\u30011\u518a\u306e\u6559\u79d1\u66f8\u304c\u3042\u308b\u3002\u30de\u30a4\u30af\u30fb\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u304c\u66f8\u3044\u305f\u300eOne Good Trade\uff1aInside the Highly Competitive World of Proprietary Trading\u300f\u304c\u305d\u308c\u3058\u3083\u30022010\u5e74\u306bJohn Wiley & Sons\u793e\u304b\u3089\u51fa\u7248\u3055\u308c\u305f\u3053\u306e\u672c\u306f\u3001\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u30fb\u30de\u30f3\u30cf\u30c3\u30bf\u30f3\u3067\u5f7c\u304c\u5171\u540c\u5275\u8a2d\u3057\u305fSMB\u30ad\u30e3\u30d4\u30bf\u30eb\u3068\u3044\u3046\u81ea\u5df1\u52d8\u5b9a\u53d6\u5f15\u30d5\u30a1\u30fc\u30e0\u306e\u5185\u5074\u3092\u8d64\u88f8\u3005\u306b\u63cf\u3044\u3066\u304a\u308b\u3002\uff8c\uff6b\uff8c\uff6b\u3001\u91d1\u878d\u306e\u4e16\u754c\u306e\u30ea\u30a2\u30eb\u306a\u5b66\u6821\u3068\u3082\u8a00\u3048\u308b\u5834\u6240\u3058\u3083\u306e\u3002<\/p>\n<p>\u672c\u66f8\u304c\u554f\u3044\u304b\u3051\u308b\u306e\u306f\u975e\u5e38\u306b\u30b7\u30f3\u30d7\u30eb\u3067\u3001\u305d\u3057\u3066\u6df1\u3044\u554f\u3044\u3058\u3083\u3002\u300c\u3069\u3046\u3059\u308c\u3070\u3001\u4e00\u8cab\u3057\u3066\u5229\u76ca\u3092\u51fa\u3057\u7d9a\u3051\u308b\u30c8\u30ec\u30fc\u30c0\u30fc\u306b\u306a\u308c\u308b\u306e\u304b\uff1f\u300d\u3068\u3044\u3046\u554f\u3044\u3058\u3083\u3002\u4e88\u6e2c\u306e\u5929\u624d\u3067\u3042\u308b\u3053\u3068\u3001\u5927\u304d\u306a\u8ced\u3051\u306b\u51fa\u308b\u3053\u3068\u3001\u7279\u5225\u306a\u60c5\u5831\u3092\u6301\u3064\u3053\u3068\u2014\u2014\u305d\u3046\u3044\u3046\u3082\u306e\u3067\u306f\u306a\u3044\u3002\u672c\u66f8\u304c\u8a9e\u308b\u306e\u306f\u3001<em>\u898f\u5f8b\u30fb\u30b9\u30ad\u30eb\u958b\u767a\u30fb1\u30c8\u30ec\u30fc\u30c9\u305a\u3064\u306e\u7a4d\u307f\u91cd\u306d<\/em>\u3068\u3044\u3046\u3001\u5730\u5473\u3060\u304c\u672c\u8cea\u7684\u306a\u771f\u5b9f\u3058\u3083\u3002\u3055\u3042\u3001\u3057\u308d\u304f\u307e\u3068\u4e00\u7dd2\u306b\u3053\u306e\u4e16\u754c\u3078\u8e0f\u307f\u8fbc\u3093\u3067\u307f\u3088\u3046\u305e\u3044\u3002<\/p>\n<div class=\"dialogue-block\">\n<p><span class=\"bear-teddy\">\ud83e\uddf8 \u30c6\u30c7\u30a3\uff1a<\/span>\u300c\u3057\u308d\u304f\u307e\u3061\u3083\u3093\u3001\u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\u3063\u3066\u3001\u8a3c\u5238\u4f1a\u793e\u306e\u666e\u901a\u306e\u30c8\u30ec\u30fc\u30c0\u30fc\u3068\u4f55\u304c\u9055\u3046\u306e\uff1f\u300d<\/p>\n<p><span class=\"bear-white\">\ud83d\udc3b\u200d\u2744\ufe0f 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class=\"dialogue-block\">\n<p><span class=\"bear-teddy\">\ud83e\uddf8 \u30c6\u30c7\u30a3\uff1a<\/span>\u300c\u3057\u308d\u304f\u307e\u3061\u3083\u3093\u3001\u6700\u521d\u306e6\u30f6\u6708\u3067\u5168\u7136\u5132\u304b\u3089\u306a\u304b\u3063\u305f\u306e\u306b\u3001\u306a\u3093\u3067\u7d9a\u3051\u3089\u308c\u305f\u306e\uff1f\u300d<\/p>\n<p><span class=\"bear-white\">\ud83d\udc3b\u200d\u2744\ufe0f \u3057\u308d\u304f\u307e\uff1a<\/span>\u300c\u3062\u3083\u304b\u3089\u3001\u305d\u308c\u3053\u305d\u304c\u672c\u66f8\u306e\u6838\u5fc3\u306e\u3072\u3068\u3064\u306a\u306e\u3058\u3083\u3002\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u306f\u8a9e\u3063\u3066\u304a\u308b\u2014\u2014<em>\u3069\u3093\u306a\u4e00\u6d41\u30d1\u30d5\u30a9\u30fc\u30de\u30fc\u3082\u3001\u6700\u521d\u304b\u3089\u4e00\u6d41\u3067\u306f\u306a\u304b\u3063\u305f<\/em>\u3001\u3068\u306a\u3002\u30de\u30a4\u30b1\u30eb\u30fb\u30b8\u30e7\u30fc\u30c0\u30f3\u306f\u9ad8\u68212\u5e74\u3067\u30d0\u30fc\u30b7\u30c6\u30a3\u30c1\u30fc\u30e0\u306b\u9078\u3070\u308c\u306a\u304b\u3063\u305f\u3002\u30bf\u30a4\u30ac\u30fc\u30fb\u30a6\u30c3\u30ba\u306f\u6bce\u65e5\u4f55\u6642\u9593\u3082\u306e\u7df4\u7fd2\u3092\u7d9a\u3051\u305f\u3002\u30de\u30eb\u30b3\u30e0\u30fb\u30b0\u30e9\u30c3\u30c9\u30a6\u30a7\u30eb\u304c\u300e\u30a2\u30a6\u30c8\u30e9\u30a4\u30a2\u30fc\u30ba\u300f\u3067\u63d0\u5531\u3057\u305f1\u4e07\u6642\u9593\u306e\u6cd5\u5247\u3082\u5f15\u7528\u3055\u308c\u3066\u304a\u308b\u3002GMan\u306b\u8db3\u308a\u306a\u304b\u3063\u305f\u306e\u306f\u624d\u80fd\u3067\u306f\u306a\u304f\u3001<em>\u6642\u9593\u3068\u6b63\u3057\u3044\u8a13\u7df4<\/em>\u3058\u3083\u3063\u305f\u3002\uff8c\uff6b\uff8c\uff6b\u3002\u300d<\/p>\n<\/div>\n<h2>\ud83c\udf1f 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class=\"dialogue-block\">\n<p><span class=\"bear-teddy\">\ud83e\uddf8 \u30c6\u30c7\u30a3\uff1a<\/span>\u300c\u3057\u308d\u304f\u307e\u3061\u3083\u3093\u3001\u300eP&L\uff08\u640d\u76ca\uff09\u3092\u96a0\u305b\u300f\u3063\u3066\u3044\u3046\u8a71\u3001\u3059\u3054\u304f\u5909\u306a\u611f\u3058\u304c\u3059\u308b\u3002\u78ba\u8a8d\u3057\u306a\u304f\u3066\u3044\u3044\u306e\uff1f\u300d<\/p>\n<p><span class=\"bear-white\">\ud83d\udc3b\u200d\u2744\ufe0f \u3057\u308d\u304f\u307e\uff1a<\/span>\u300c\uff8a\uff6f\uff8a\uff70\u3001\u305d\u3046\u601d\u3046\u3058\u3083\u308d\uff01\u3067\u3082\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u306f\u8a00\u3046\u306e\u3058\u3083\u3002\u521d\u671f\u306e\u30c8\u30ec\u30fc\u30c0\u30fc\u306b\u3068\u3063\u3066\u3001P&L\u306e\u30b9\u30b3\u30a2\u30dc\u30fc\u30c9\u306f\u8aa4\u3063\u305f\u30d5\u30a3\u30fc\u30c9\u30d0\u30c3\u30af\u3092\u4e0e\u3048\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u30021\u65e5\u306b1,500\u30c9\u30eb\u7a3c\u3044\u3060\u3068\u3057\u3066\u3082\u3001\u305d\u306e\u65b9\u6cd5\u304c\u5b8c\u5168\u306b\u9593\u9055\u3063\u3066\u304a\u308c\u3070\uff08\u5f31\u3044\u682a\u306b\u4e57\u3063\u305f\u308a\u3001\u30c0\u30d6\u30eb\u30c0\u30a6\u30f3\u3057\u305f\u308a\uff09\u3001\u305d\u308c\u306f\u5b66\u7fd2\u306b\u306a\u3089\u306a\u3044\u3069\u3053\u308d\u304b\u60aa\u7fd2\u6163\u3092\u5f37\u5316\u3059\u308b\u3060\u3051\u3058\u3083\u3002\u3086\u3048\u306b<em>\u300c\u30b9\u30ad\u30eb\u3092\u78e8\u304f\u3053\u3068\u304c\u76ee\u7684\u3001\u5229\u76ca\u306f\u305d\u306e\u7d50\u679c\u300d<\/em>\u3068\u3044\u3046\u30de\u30a4\u30f3\u30c9\u30bb\u30c3\u30c8\u304c\u5fc5\u8981\u3058\u3083\u3002\u9032\u6357\u306f\u6570\u5b57\u3067\u306f\u306a\u304f\u3001\u6bce\u65e5\u5c11\u3057\u305a\u3064\u4e0a\u624b\u304f\u306a\u3063\u3066\u3044\u308b\u304b\u3069\u3046\u304b\u3067\u6e2c\u308b\u306e\u3058\u3083\u3002\u300d<\/p>\n<\/div>\n<h2>\ud83c\udfb5 \u7b2c\u4e09\u90e8\uff1a\u30c6\u30af\u30cb\u30ab\u30eb\u306e\u6838\u5fc3\u2014\u2014\u300cStocks In Play\uff08\u30d7\u30ec\u30a4\u4e2d\u306e\u682a\uff09\u300d\u3068\u300c\u30c6\u30fc\u30d7\u30ea\u30fc\u30c7\u30a3\u30f3\u30b0\u300d<\/h2>\n<p>\u672c\u66f8\u306e\u6280\u8853\u7684\u306a\u90e8\u5206\u3067\u6700\u3082\u91cd\u8981\u306a\u306e\u304c\u3001<em>\u300cStocks In Play\u300d<\/em>\u306e\u6982\u5ff5\u3068\u30c6\u30fc\u30d7\u30ea\u30fc\u30c7\u30a3\u30f3\u30b0\u306e\u30b9\u30ad\u30eb\u3058\u3083\u3002SMB\u30ad\u30e3\u30d4\u30bf\u30eb\u3067\u306f\u3001\u6bce\u671d8\u664230\u5206\u306e\u30df\u30fc\u30c6\u30a3\u30f3\u30b0\u3067\u305d\u306e\u65e5\u6700\u3082\u6ce8\u76ee\u3059\u3079\u304d\u682a\u3092\u7d5e\u308a\u8fbc\u3080\u3002\u91cd\u8981\u306a\u306e\u306f\u3001\u300c\u52d5\u304f\u53ef\u80fd\u6027\u304c\u3042\u308b\u682a\u300d\u3067\u306f\u306a\u304f\u3001<em>\u5b9f\u969b\u306b\u6a5f\u95a2\u6295\u8cc7\u5bb6\u3084\u5927\u304d\u306a\u30aa\u30fc\u30c0\u30fc\u30d5\u30ed\u30fc\u304c\u5b58\u5728\u3059\u308b\u682a<\/em>\u3092\u9078\u3076\u3068\u3044\u3046\u3053\u3068\u3058\u3083\u3002\u3053\u308c\u3092Stocks In Play\u3068\u547c\u3076\u3002<\/p>\n<p>\u306a\u305cStocks In Play\u306b\u3053\u3060\u308f\u308b\u306e\u304b\uff1f\u305d\u308c\u306f\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u53d6\u5f15\uff08\u30d6\u30e9\u30c3\u30af\u30dc\u30c3\u30af\u30b9\uff09\u3068\u306e\u95a2\u4fc2\u306b\u7b54\u3048\u304c\u3042\u308b\u3002\u901a\u5e38\u306e\u682a\u3067\u306f\u3001\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u30d7\u30ed\u30b0\u30e9\u30e0\u304c\u77ed\u671f\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u8cb7\u3044\u3092\u9006\u624b\u306b\u53d6\u308a\u3001\u8cc7\u91d1\u3092\u596a\u3063\u3066\u3044\u304f\u3002\u3057\u304b\u3057Stocks In Play\u306b\u306f\u672c\u7269\u306e\u5927\u304d\u306a\u30aa\u30fc\u30c0\u30fc\u304c\u6d41\u308c\u8fbc\u3093\u3067\u304f\u308b\u305f\u3081\u3001\u30d7\u30ed\u30b0\u30e9\u30e0\u306e\u5727\u529b\u3092\u8df3\u306d\u8fd4\u3059\u529b\u304c\u3042\u308b\u3002<em>\u300c\u3042\u306a\u305f\u304c\u826f\u3044\u30c8\u30ec\u30fc\u30c0\u30fc\u304b\u3069\u3046\u304b\u306f\u3001\u3042\u306a\u305f\u304c\u53d6\u5f15\u3059\u308b\u682a\u306e\u8cea\u3067\u6c7a\u307e\u308b\u300d<\/em>\u2014\u2014\u3053\u308c\u304cSMB\u306e\u4fe1\u5ff5\u3058\u3083\u3002<\/p>\n<p>\u30c6\u30fc\u30d7\u30ea\u30fc\u30c7\u30a3\u30f3\u30b0\u3001\u3064\u307e\u308a\u300c\u677f\u8aad\u307f\u300d\u3068\u306f\u3001\u6b69\u307f\u5024\uff08\u7d04\u5b9a\u5c65\u6b74\uff09\u30fb\u30d3\u30c3\u30c9\uff08\u8cb7\u3044\u5024\uff09\u30fb\u30aa\u30d5\u30a1\u30fc\uff08\u58f2\u308a\u5024\uff09\u306e\u52d5\u304d\u3060\u3051\u3092\u898b\u3066\u3001\u6b21\u306b\u682a\u4fa1\u304c\u4e0a\u304c\u308b\u304b\u4e0b\u304c\u308b\u304b\u309270%\u4ee5\u4e0a\u306e\u78ba\u7387\u3067\u4e88\u6e2c\u3059\u308b\u6280\u8853\u3058\u3083\u3002\u30c1\u30e3\u30fc\u30c8\u3082\u3001\u30cb\u30e5\u30fc\u30b9\u3082\u3001\u306a\u304f\u3068\u3082\u3044\u3044\u2014\u2014\u30c6\u30fc\u30d7\u3060\u3051\u3067\u52dd\u8ca0\u3067\u304d\u308b\u30ec\u30d9\u30eb\u3092\u76ee\u6307\u3059\u3002\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u81ea\u8eab\u30011990\u5e74\u4ee3\u5f8c\u534a\u306f\u30c1\u30e3\u30fc\u30c8\u3082CNBC\u3082\u306a\u304f\u3001\u7d14\u7c8b\u306b\u30c6\u30fc\u30d7\u3060\u3051\u3067\u83ab\u5927\u306a\u5229\u76ca\u3092\u5f97\u3066\u304a\u3063\u305f\u3002\u3053\u308c\u306f\u4eca\u306e\u6642\u4ee3\u3067\u3082\u5b66\u3076\u4fa1\u5024\u304c\u3042\u308b\u672c\u8cea\u7684\u30b9\u30ad\u30eb\u3058\u3083\u3068\u3001\u5f37\u8abf\u3055\u308c\u3066\u304a\u308b\u3002<\/p>\n<div class=\"dialogue-block\">\n<p><span class=\"bear-teddy\">\ud83e\uddf8 \u30c6\u30c7\u30a3\uff1a<\/span>\u300c\u3057\u308d\u304f\u307e\u3061\u3083\u3093\u3001\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u53d6\u5f15\u3063\u3066\u3001\u500b\u4eba\u306b\u306f\u52dd\u3066\u306a\u3044\u306e\uff1f\u300d<\/p>\n<p><span class=\"bear-white\">\ud83d\udc3b\u200d\u2744\ufe0f 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Play\u306e\u4e2d\u3067\u306f\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u304c\u6a5f\u80fd\u3057\u306b\u304f\u3044<\/em>\u3002\u554f\u984c\u304b\u3089\u9003\u3052\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u554f\u984c\u306e\u3042\u308b\u5834\u6240\u304b\u3089\u6709\u5229\u306a\u5834\u6240\u3078\u79fb\u52d5\u3059\u308b\u2014\u2014\u3053\u308c\u304c\u7b54\u3048\u3058\u3083\u3002\uff8c\uff6b\uff8c\uff6b\u3002\u300d<\/p>\n<\/div>\n<h2>\u2728 \u7b2c\u56db\u90e8\uff1a\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u8133\u2014\u2014\u6700\u826f\u306e\u6559\u5e2b\u306f\u4f55\u304b<\/h2>\n<p>\u672c\u66f8\u306e\u5f8c\u534a\u3067\u306f\u3001\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u5fc3\u7406\u3068\u6559\u80b2\u54f2\u5b66\u304c\u6df1\u304f\u6398\u308a\u4e0b\u3052\u3089\u308c\u308b\u3002SMB\u30ad\u30e3\u30d4\u30bf\u30eb\u3067\u306f\u3001\u6bce\u65e5\u306e\u30c8\u30ec\u30fc\u30c9\u6620\u50cf\u3092\u9332\u753b\u3057\u3066\u30ec\u30d3\u30e5\u30fc\u3057\u3001\u6570\u5024\u3092\u8a73\u7d30\u306b\u8a18\u9332\u3059\u308bSMB\u30c1\u30e7\u30c3\u30d7\u30c8\u30e9\u30c3\u30ab\u30fc\u3092\u4f7f\u3044\u3001\u6bce\u671d\u30fb\u6b63\u5348\u30fb\u9589\u5834\u5f8c\u306e\u30df\u30fc\u30c6\u30a3\u30f3\u30b0\u3067\u30a2\u30a4\u30c7\u30a2\u3092\u5171\u6709\u3059\u308b\u3002\u306a\u304b\u3067\u3082\u300c\u30c8\u30ec\u30fc\u30c9\u306b\u3064\u3044\u3066\u4ed6\u306e\u30c8\u30ec\u30fc\u30c0\u30fc\u3068\u8a71\u3059\u3053\u3068\u300d\u306e\u91cd\u8981\u6027\u304c\u7e70\u308a\u8fd4\u3057\u5f37\u8abf\u3055\u308c\u3066\u304a\u308b\u3002<\/p>\n<p>\u8208\u5473\u6df1\u3044\u306e\u306f\u3001\u300c\u4e00\u6d41\u306e\u30b9\u30bf\u30fc\u30c8\u30ec\u30fc\u30c0\u30fc\u3060\u3051\u304b\u3089\u5b66\u307c\u3046\u300d\u3068\u3044\u3046\u30a2\u30c9\u30d0\u30a4\u30b9\u3078\u306e\u53cd\u8ad6\u3058\u3083\u3002GMan\u306f\u8a9e\u3063\u3066\u3044\u308b\u2014\u2014<em>\u540c\u671f\u306e\u4ef2\u9593\u304c\u4e0a\u624b\u304f\u3044\u3063\u305f\u30c8\u30ec\u30fc\u30c9\u306e\u8aac\u660e\u306f\u3001\u30d9\u30c6\u30e9\u30f3\u306e\u8907\u96d1\u306a\u8aac\u660e\u3088\u308a\u3082\u5fc3\u306b\u6b8b\u308b<\/em>\u3001\u3068\u3002\u300c\u3082\u3057-then\u300d\u306e\u6761\u4ef6\u5206\u5c90\u3060\u3089\u3051\u306e\u719f\u7df4\u8005\u306e\u8aac\u660e\u3088\u308a\u3001\u540c\u3058\u76ee\u7dda\u306e\u521d\u5fc3\u8005\u304c\u565b\u307f\u7815\u3044\u305f\u8a00\u8449\u306e\u65b9\u304c\u5b66\u3073\u306b\u306a\u308b\u3053\u3068\u304c\u3042\u308b\u3002\u3053\u308c\u306f\u300c\u6559\u3048\u308b\u3053\u3068\u3067\u6700\u3082\u6df1\u304f\u5b66\u3076\u300d\u3068\u3044\u3046\u6559\u80b2\u306e\u539f\u5247\u3068\u4e00\u81f4\u3057\u3066\u304a\u308b\u306e\u3058\u3083\u3002<\/p>\n<p>\u305d\u3057\u3066\u672c\u66f8\u304c\u6700\u7d42\u7684\u306b\u884c\u304d\u7740\u304f\u7b54\u3048\u304c\u3001\u30bf\u30a4\u30c8\u30eb\u306b\u3082\u306a\u3063\u3066\u3044\u308b\u6982\u5ff5\u3058\u3083\u3002\u30c7\u30e5\u30fc\u30af\u5927\u5b66\u306e\u30d0\u30b9\u30b1\u30c3\u30c8\u30dc\u30fc\u30eb\u6307\u5c0e\u8005\u30af\u30b7\u30a7\u30d5\u30b9\u30ad\u30fc\u306f\u9078\u624b\u306b\u300cNext Play\uff08\u6b21\u306e\u30d7\u30ec\u30fc\uff09\u300d\u3068\u53eb\u3076\u3002SMB\u3067\u306f\u300cOne Good Trade\uff08\u4e00\u3064\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\uff09\u300d\u3068\u8a00\u3046\u3002\u904e\u53bb\u306e\u30c8\u30ec\u30fc\u30c9\u3092\u5f15\u304d\u305a\u3089\u305a\u3001\u672a\u6765\u306e\u5927\u304d\u306a\u5229\u76ca\u3092\u5922\u898b\u3066\u7121\u8b00\u306b\u306a\u308b\u3053\u3068\u3082\u306a\u304f\u3001<em>\u4eca\u3053\u306e\u77ac\u9593\u3001\u76ee\u306e\u524d\u306e1\u3064\u306e\u30c8\u30ec\u30fc\u30c9\u3092\u3067\u304d\u308b\u9650\u308a\u6b63\u3057\u304f\u57f7\u884c\u3059\u308b<\/em>\u2014\u2014\u305d\u308c\u3060\u3051\u3092\u7e70\u308a\u8fd4\u3059\u3002\u3053\u308c\u304c\u30d7\u30ed\u306e\u54f2\u5b66\u3058\u3083\u3002<\/p>\n<div class=\"highlight-box\">\n <strong>\ud83d\udc3b\u200d\u2744\ufe0f\u3063\uff8b\uff9f\uff7c\uff6f \u6838\u5fc3\u307e\u3068\u3081\u3058\u3083\uff01<\/strong><\/p>\n<p> \u300cOne Good Trade\u300d\u306e\u54f2\u5b66\u306f\u3001\u5e02\u5834\u3060\u3051\u3067\u306a\u304f\u4eba\u751f\u5168\u822c\u306b\u901a\u3058\u308b\u77e5\u6075\u3058\u3083\u3002\u300c\u4e00\u3064\u306e\u3053\u3068\u3092\u3001\u3067\u304d\u308b\u9650\u308a\u3088\u304f\u3084\u308a\u5207\u308b\u300d\u2014\u2014\u3053\u306e\u7a4d\u307f\u91cd\u306d\u304c\u3001\u9577\u671f\u7684\u306a\u6210\u679c\u3092\u3064\u304f\u308b\u3002\u5927\u304d\u306a\u30d3\u30b8\u30e7\u30f3\u306f\u5927\u5207\u3058\u3083\u304c\u3001\u4eca\u3053\u306e\u77ac\u9593\u306e\u8cea\u3053\u305d\u304c\u5168\u3066\u3092\u6c7a\u3081\u308b\u306e\u3058\u3083\u3002\uff8c\uff6b\uff8c\uff6b\u3002\n<\/p><\/div>\n<h2>\ud83c\udf43 Claude\u304b\u3089\u306e\u88dc\u8db3\uff1a\u3053\u306e\u66f8\u7c4d\u304c\u8a9e\u308b\u6642\u4ee3\u80cc\u666f\u3068\u73fe\u4ee3\u7684\u610f\u7fa9<\/h2>\n<p>\u672c\u66f8\u306f2010\u5e74\u306e\u51fa\u7248\u3058\u3083\u304c\u3001\u305d\u306e\u5185\u5bb9\u306e\u672c\u8cea\u306f\u8272\u3042\u305b\u3066\u304a\u3089\u306c\u3002\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u304c2008\u5e74\u306e\u91d1\u878d\u5371\u6a5f\u3092\u7d4c\u9a13\u3057\u306a\u304c\u3089\u8a9e\u308b\u30ea\u30b9\u30af\u7ba1\u7406\u306e\u54f2\u5b66\u3001\u6bb5\u968e\u7684\u306a\u30b9\u30ad\u30eb\u7a4d\u307f\u4e0a\u3052\u306e\u7406\u8ad6\u3001\u305d\u3057\u3066\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u53f0\u982d\u3078\u306e\u5bfe\u5fdc\u6226\u7565\u306f\u30012020\u5e74\u4ee3\u4ee5\u964d\u306e\u5e02\u5834\u306b\u304a\u3044\u3066\u3082\u5341\u5206\u306a\u793a\u5506\u3092\u6301\u3064\u3002\u7279\u306b<em>\u300c\u898f\u5f8b\u3042\u308b\u7df4\u7fd2\u91cf\uff081\u4e07\u6642\u9593\u306e\u6cd5\u5247\uff09\u300d<\/em>\u306f\u30b0\u30e9\u30c3\u30c9\u30a6\u30a7\u30eb\u306e\u7814\u7a76\u3068\u3082\u4e00\u81f4\u3057\u3001\u30b9\u30dd\u30fc\u30c4\u30fb\u97f3\u697d\u30fb\u30d7\u30ed\u30b0\u30e9\u30df\u30f3\u30b0\u306a\u3069\u4ed6\u306e\u5206\u91ce\u306e\u5b66\u7fd2\u7406\u8ad6\u3068\u3082\u6df1\u304f\u5171\u9cf4\u3057\u3066\u304a\u308b\u3002<\/p>\n<p>\u307e\u305f\u65e5\u672c\u306e\u500b\u4eba\u6295\u8cc7\u5bb6\u306e\u8996\u70b9\u304b\u3089\u306f\u3001\u7c73\u56fd\u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u3068\u3044\u3046\u4ed5\u7d44\u307f\u81ea\u4f53\u304c\u307b\u3068\u3093\u3069\u77e5\u3089\u308c\u3066\u304a\u3089\u3093\u3002\u8a3c\u5238\u4f1a\u793e\u306e\u81ea\u5df1\u58f2\u8cb7\u90e8\u9580\u3068\u306f\u7570\u306a\u308b\u72ec\u7acb\u3057\u305f\u30d5\u30a1\u30fc\u30e0\u304c\u3001\u56fd\u5bb6\u8a66\u9a13\u306a\u3057\u3067\u512a\u79c0\u306a\u82e5\u8005\u3092\u63a1\u7528\u3057\u3001\u5fb9\u5e95\u7684\u306b\u80b2\u3066\u4e0a\u3052\u308b\u3068\u3044\u3046\u30e2\u30c7\u30eb\u306f\u3001\u3072\u3068\u3064\u306e\u8077\u696d\u3068\u3057\u3066\u306e\u300c\u30c8\u30ec\u30fc\u30c0\u30fc\u300d\u306e\u53ef\u80fd\u6027\u3092\u793a\u3059\u3082\u306e\u3068\u3057\u3066\u8aad\u3081\u308b\u306e\u3058\u3083\u3002<\/p>\n<p>\u306a\u304a\u8457\u8005\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u306f\u73fe\u5728\u3082SMB\u30ad\u30e3\u30d4\u30bf\u30eb\u3067\u30b3\u30fc\u30c1\u30f3\u30b0\u3084\u30b3\u30f3\u30c6\u30f3\u30c4\u767a\u4fe1\u3092\u7d9a\u3051\u3066\u304a\u308a\u3001YouTube\u3084\u30d6\u30ed\u30b0\u3067\u306e\u30d7\u30ec\u30bc\u30f3\u30b9\u3092\u7dad\u6301\u3057\u3066\u304a\u308b\u3002\u672c\u66f8\u306f\u30a6\u30a3\u30ea\u30fc\u30fb\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u30b7\u30ea\u30fc\u30ba\u306e1\u518a\u3068\u3057\u3066\u4eca\u306a\u304a\u5165\u624b\u53ef\u80fd\u3058\u3083\u3002<\/p>\n<div class=\"dialogue-block\">\n<p><span class=\"bear-teddy\">\ud83e\uddf8 \u30c6\u30c7\u30a3\uff1a<\/span>\u300c\u3057\u308d\u304f\u307e\u3061\u3083\u3093\u3001\u3053\u306e\u672c\u3001\u30c8\u30ec\u30fc\u30c0\u30fc\u4ee5\u5916\u306e\u4eba\u306b\u3082\u610f\u5473\u3042\u308b\u306e\uff1f\u300d<\/p>\n<p><span class=\"bear-white\">\ud83d\udc3b\u200d\u2744\ufe0f \u3057\u308d\u304f\u307e\uff1a<\/span>\u300c\uff8c\uff6b\uff8c\uff6b\u3001\u5b9f\u306f\u3068\u3066\u3082\u610f\u5473\u304c\u3042\u308b\u306e\u3058\u3083\u3002<em>\u30b9\u30ad\u30eb\u306f\u751f\u307e\u308c\u3064\u304d\u3067\u306f\u306a\u304f\u3001\u6b63\u3057\u3044\u7df4\u7fd2\u306e\u7a4d\u307f\u91cd\u306d\u3067\u80b2\u3064<\/em>\u3068\u3044\u3046\u30e1\u30c3\u30bb\u30fc\u30b8\u306f\u666e\u904d\u7684\u3058\u3083\u3002\u640d\u5207\u308a\u306e\u6f54\u3055\uff08\u8ca0\u3051\u3092\u8a8d\u3081\u3066\u3059\u3050\u6b21\u3078\uff09\u3001P&L\u3088\u308a\u30d7\u30ed\u30bb\u30b9\u3092\u91cd\u8996\u3059\u308b\u59ff\u52e2\u3001\u6570\u5024\u3067\u81ea\u5206\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u5ba2\u89b3\u8996\u3059\u308b\u3053\u3068\u2014\u2014\u3053\u308c\u3089\u306f\u3069\u3093\u306a\u4ed5\u4e8b\u3084\u5b66\u7fd2\u306b\u3082\u5fdc\u7528\u3067\u304d\u308b\u77e5\u6075\u3058\u3083\u3002\u308f\u3057\u304c\u9577\u5e74\u306c\u3044\u3050\u308b\u307f\u3068\u3057\u3066\u773a\u3081\u3066\u304d\u305f\u4e2d\u3067\u8a00\u3048\u308b\u306e\u306f\u3001<em>\u4e00\u6d41\u306b\u306a\u3063\u305f\u8005\u306f\u307f\u306a\u3001\u76ee\u306e\u524d\u306e1\u3064\u306e\u3053\u3068\u3092\u4e01\u5be7\u306b\u3084\u308a\u7d9a\u3051\u305f<\/em>\u3068\u3044\u3046\u3053\u3068\u3058\u3083\u3088\u3002\uff8a\uff6f\uff8a\uff70\u3002\u300d<\/p>\n<\/div>\n<div class=\"keyword-section\">\n<h2>\ud83d\udcd6 \u7528\u8a9e\u89e3\u8aac\u30b3\u30fc\u30ca\u30fc \u2014\u2014\u65e5\u672c\u8a9e\u3068\u82f1\u8a9e\u3067\u899a\u3048\u308b\u306e\u3058\u3083\u2744\ufe0f<\/h2>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\uff08\u81ea\u5df1\u52d8\u5b9a\u30c8\u30ec\u30fc\u30c0\u30fc\uff09<\/div>\n<div class=\"keyword-en\">Proprietary Trader \/ Prop Trader<\/div>\n<div class=\"keyword-desc\">\u9867\u5ba2\u306e\u8cc7\u91d1\u3067\u306f\u306a\u304f\u3001\u81ea\u793e\uff08\u30d5\u30a1\u30fc\u30e0\uff09\u306e\u8cc7\u91d1\u3092\u7528\u3044\u3066\u5e02\u5834\u3067\u53d6\u5f15\u3092\u884c\u3046\u30d7\u30ed\u306e\u30c8\u30ec\u30fc\u30c0\u30fc\u3002\u640d\u76ca\u304c\u305d\u306e\u307e\u307e\u4f1a\u793e\u306e\u640d\u76ca\u3068\u306a\u308b\u3002\u82f1\u8a9e\u3067\u306f “prop” \u306fprietary\u306e\u7565\u3067\u3001”prop trading”\u3068\u65e5\u5e38\u7684\u306b\u4f7f\u308f\u308c\u308b\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u640d\u76ca\uff08P&L\uff09<\/div>\n<div class=\"keyword-en\">P&L (Profit and Loss)<\/div>\n<div class=\"keyword-desc\">Profit\uff08\u5229\u76ca\uff09\u3068Loss\uff08\u640d\u5931\uff09\u306e\u5408\u8a08\u3092\u793a\u3059\u6307\u6a19\u3002\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u6210\u7e3e\u8868\u3068\u3082\u8a00\u3048\u308b\u3002”My P&L is up today.” \u3067\u300c\u4eca\u65e5\u306f\u640d\u76ca\u30d7\u30e9\u30b9\u3060\u300d\u306e\u610f\u5473\u3002\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u73fe\u5834\u3067\u306f “PnL” \u3068\u66f8\u304f\u3053\u3068\u3082\u3042\u308b\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30c6\u30fc\u30d7\u30ea\u30fc\u30c7\u30a3\u30f3\u30b0\uff08\u677f\u8aad\u307f\uff09<\/div>\n<div class=\"keyword-en\">Reading the Tape \/ Tape Reading<\/div>\n<div class=\"keyword-desc\">\u6b69\u307f\u5024\u30fb\u30d3\u30c3\u30c9\u30fb\u30aa\u30d5\u30a1\u30fc\u306e\u52d5\u304d\u3092\u8aad\u307f\u89e3\u304d\u3001\u6b21\u306e\u682a\u4fa1\u52d5\u5411\u3092\u4e88\u6e2c\u3059\u308b\u30b9\u30ad\u30eb\u3002\u304b\u3064\u3066\u306e\u682a\u5f0f\u5e02\u5834\u3067\u306f\u53d6\u5f15\u8a18\u9332\u304c\u30c6\u30fc\u30d7\uff08\u7d19\u30c6\u30fc\u30d7\uff09\u3067\u51fa\u529b\u3055\u308c\u3066\u3044\u305f\u3053\u3068\u304c\u8a9e\u6e90\u3002\u73fe\u4ee3\u3067\u306f\u96fb\u5b50\u7684\u306a\u677f\u60c5\u5831\u3092\u8aad\u3080\u6280\u8853\u3092\u6307\u3059\u3002”He’s excellent at reading the tape.” \u306a\u3069\u3068\u4f7f\u3046\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">Stocks In Play\uff08\u6ce8\u76ee\u682a\u30fb\u672c\u65e5\u306e\u4e3b\u5f79\u682a\uff09<\/div>\n<div class=\"keyword-en\">Stocks In Play<\/div>\n<div class=\"keyword-desc\">\u305d\u306e\u65e5\u306b\u5927\u304d\u306a\u6a5f\u95a2\u6295\u8cc7\u5bb6\u30aa\u30fc\u30c0\u30fc\u3084\u91cd\u8981\u306a\u30cb\u30e5\u30fc\u30b9\u304c\u5165\u308a\u3001\u5927\u304d\u304f\u52d5\u304f\u53ef\u80fd\u6027\u304c\u3042\u308b\u682a\u3002SMB\u30ad\u30e3\u30d4\u30bf\u30eb\u3067\u306f\u3053\u306e\u682a\u306e\u307f\u306b\u96c6\u4e2d\u3059\u308b\u3053\u3068\u3092\u57fa\u672c\u6226\u7565\u3068\u3057\u3066\u3044\u308b\u3002”This stock is in play today due to earnings.” \u3068\u3044\u3046\u5f62\u3067\u4f7f\u308f\u308c\u308b\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30d6\u30e9\u30c3\u30af\u30dc\u30c3\u30af\u30b9\uff08\u81ea\u52d5\u58f2\u8cb7\u30d7\u30ed\u30b0\u30e9\u30e0\uff09<\/div>\n<div class=\"keyword-en\">Black Box \/ Algorithmic Trading Program<\/div>\n<div class=\"keyword-desc\">\u4e00\u5b9a\u306e\u30eb\u30fc\u30eb\u306b\u57fa\u3065\u3044\u3066\u81ea\u52d5\u7684\u306b\u58f2\u8cb7\u3092\u5b9f\u884c\u3059\u308b\u30b3\u30f3\u30d4\u30e5\u30fc\u30bf\u30fc\u30d7\u30ed\u30b0\u30e9\u30e0\u3002\u5185\u90e8\u306e\u30ed\u30b8\u30c3\u30af\u304c\u5916\u90e8\u304b\u3089\u306f\u898b\u3048\u306a\u3044\u305f\u3081\u300c\u30d6\u30e9\u30c3\u30af\u30dc\u30c3\u30af\u30b9\u300d\u3068\u547c\u3070\u308c\u308b\u3002\u9ad8\u983b\u5ea6\u53d6\u5f15\uff08HFT\uff09\u3068\u7d44\u307f\u5408\u308f\u305b\u3066\u4f7f\u308f\u308c\u308b\u3053\u3068\u3082\u591a\u3044\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30a8\u30c3\u30b8\uff08\u512a\u4f4d\u6027\uff09<\/div>\n<div class=\"keyword-en\">Edge<\/div>\n<div class=\"keyword-desc\">\u4ed6\u306e\u5e02\u5834\u53c2\u52a0\u8005\u3068\u6bd4\u3079\u3066\u3001\u81ea\u5206\u304c\u6709\u5229\u306b\u7acb\u3066\u308b\u6761\u4ef6\u30fb\u72b6\u6cc1\u30fb\u30b9\u30ad\u30eb\u306e\u3053\u3068\u3002”Do I have an edge in this trade?” \u306f\u300c\u3053\u306e\u30c8\u30ec\u30fc\u30c9\u3067\u81ea\u5206\u306b\u512a\u4f4d\u6027\u304c\u3042\u308b\u304b\uff1f\u300d\u3068\u3044\u3046\u610f\u5473\u3002\u30c8\u30ec\u30fc\u30c0\u30fc\u306f\u30a8\u30c3\u30b8\u304c\u3042\u308b\u5834\u9762\u306e\u307f\u3067\u53d6\u5f15\u3059\u308b\u3079\u304d\u3068\u3055\u308c\u308b\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30ea\u30b9\u30af\u8abf\u6574\u6e08\u307f\u30ea\u30bf\u30fc\u30f3<\/div>\n<div class=\"keyword-en\">Risk-Adjusted Return<\/div>\n<div class=\"keyword-desc\">\u3069\u308c\u3060\u3051\u306e\u30ea\u30b9\u30af\u3092\u53d6\u3063\u3066\u3069\u308c\u3060\u3051\u5229\u76ca\u3092\u5f97\u305f\u304b\u3092\u793a\u3059\u6307\u6a19\u3002\u5358\u7d14\u306a\u5229\u76ca\u984d\uff08\u30b0\u30ed\u30b9P&L\uff09\u3060\u3051\u3067\u306a\u304f\u3001\u305d\u306e\u30ea\u30b9\u30af\u306e\u5927\u304d\u3055\u3068\u7167\u3089\u3057\u5408\u308f\u305b\u3066\u8a55\u4fa1\u3059\u308b\u3002\u30b7\u30e3\u30fc\u30d7\u30ec\u30b7\u30aa\uff08Sharpe Ratio\uff09\u304c\u305d\u306e\u4ee3\u8868\u7684\u306a\u6307\u6a19\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u640d\u5207\u308a\u30fb\u30b9\u30c8\u30c3\u30d7\u30ed\u30b9<\/div>\n<div class=\"keyword-en\">Stop Loss \/ Stop Out<\/div>\n<div class=\"keyword-desc\">\u3042\u3089\u304b\u3058\u3081\u5b9a\u3081\u305f\u640d\u5931\u984d\u306b\u9054\u3057\u305f\u3089\u81ea\u52d5\u7684\u306b\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u6c7a\u6e08\u3059\u308b\u30eb\u30fc\u30eb\u307e\u305f\u306f\u6ce8\u6587\u3002”He was stopped out at $500.” \u306f\u300c500\u30c9\u30eb\u640d\u5931\u3067\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u5207\u3063\u305f\u300d\u306e\u610f\u5473\u3002\u611f\u60c5\u3092\u6392\u9664\u3057\u305f\u6a5f\u68b0\u7684\u306a\u640d\u5931\u7ba1\u7406\u306e\u4ed5\u7d44\u307f\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30aa\u30fc\u30c0\u30fc\u30d5\u30ed\u30fc<\/div>\n<div class=\"keyword-en\">Order Flow<\/div>\n<div class=\"keyword-desc\">\u5e02\u5834\u306b\u6d41\u308c\u8fbc\u3080\u8cb7\u3044\u30fb\u58f2\u308a\u306e\u6ce8\u6587\u306e\u6d41\u308c\u306e\u3053\u3068\u3002\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u5927\u53e3\u6ce8\u6587\u304c\u5165\u308b\u3068\u30aa\u30fc\u30c0\u30fc\u30d5\u30ed\u30fc\u304c\u5f37\u304f\u306a\u308a\u3001\u682a\u4fa1\u306f\u52d5\u304d\u3084\u3059\u304f\u306a\u308b\u3002”There’s strong order flow to the buy side.” \u306f\u300c\u8cb7\u3044\u65b9\u5411\u3078\u306e\u5927\u304d\u306a\u6ce8\u6587\u306e\u6d41\u308c\u304c\u3042\u308b\u300d\u3092\u610f\u5473\u3059\u308b\u3002<\/div>\n<\/p><\/div>\n<div class=\"keyword-item\">\n<div class=\"keyword-ja\">\u30d7\u30ec\u30a4\u30d6\u30c3\u30af\uff08\u6226\u8853\u96c6\uff09<\/div>\n<div class=\"keyword-en\">Playbook<\/div>\n<div class=\"keyword-desc\">\u30a2\u30e1\u30d5\u30c8\u306a\u3069\u306e\u30b9\u30dd\u30fc\u30c4\u304b\u3089\u306e\u501f\u7528\u8a9e\u3067\u3001\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u7fd2\u5f97\u30fb\u5b9f\u884c\u3067\u304d\u308b\u58f2\u8cb7\u30d1\u30bf\u30fc\u30f3\u306e\u4e00\u89a7\u30fb\u6226\u8853\u96c6\u306e\u3053\u3068\u3002”Expand your playbook” \u3067\u300c\u4f7f\u3048\u308b\u6226\u8853\u306e\u30ec\u30d1\u30fc\u30c8\u30ea\u30fc\u3092\u5897\u3084\u305b\u300d\u306e\u610f\u5473\u3002SMB\u3067\u306f\u660e\u78ba\u306a\u30d7\u30ec\u30a4\u30d6\u30c3\u30af\u306e\u69cb\u7bc9\u3092\u63a8\u5968\u3057\u3066\u3044\u308b\u3002<\/div>\n<\/p><\/div>\n<\/div>\n<p class=\"footer-note\">\ud83d\udc3b\u200d\u2744\ufe0f \u672c\u8a18\u4e8b\u306fMike Bellafiore\u8457\u300eOne Good Trade: Inside the Highly Competitive World of Proprietary Trading\u300f\uff08John Wiley & Sons, 2010\uff09\u306e\u5185\u5bb9\u3092\u53c2\u8003\u306b\u3001\u3057\u308d\u304f\u307e\u304c\u89e3\u8aac\u3057\u305f\u3082\u306e\u3058\u3083\u3002\u6295\u8cc7\u30fb\u58f2\u8cb7\u306e\u63a8\u5968\u3067\u306f\u306a\u3044\u306e\u3067\u3054\u6ce8\u610f\u304f\u3060\u3055\u308c\u3002\u2744\ufe0f<\/p>\n<p><\/body><br \/>\n<\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u8a9e\u308b\u300c1\u3064\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\u300d\u54f2\u5b66\uff5cSMB\u30ad\u30e3\u30d4\u30bf\u30eb\u5275\u8a2d\u8005\u30de\u30a4\u30af\u30fb\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u306e\u6559\u3048 \ud83d\udc3b\u200d\u2744\ufe0f \u30d7\u30ed\u30c3\u30d7\u30c8\u30ec\u30fc\u30c0\u30fc\u304c\u8a9e\u308b\u300c1\u3064\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\u300d\u54f2\u5b66\uff5cSMB\u30ad\u30e3\u30d4\u30bf\u30eb\u5275\u8a2d\u8005\u30de\u30a4\u30af\u30fb\u30d9\u30e9\u30d5\u30a3\u30aa\u30fc\u30ec\u304c\u4f1d\u3048\u308b\u3001 […]<\/p>\n","protected":false},"author":2,"featured_media":17814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19],"tags":[],"class_list":["post-18102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fxsenryaku"],"acf":[],"_links":{"self":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts\/18102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18102"}],"version-history":[{"count":3,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts\/18102\/revisions"}],"predecessor-version":[{"id":18105,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts\/18102\/revisions\/18105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/media\/17814"}],"wp:attachment":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}