从表中可见，随着收缩次数增加，振幅逐渐减小，同时成交量也开始枯竭。VCP的理想状态是在2到3次甚至4次收缩之后，这些不坚定的持仓者基本被清洗干净。这时，——而Minervini的入场点，正是在股价放量突破这个关键阻力位的那一刻。
At the core of Minervini’s philosophy is an uncomfortable truth for most amateurs: The wizard’s secret is asymmetry—keeping losses small and letting gains compound. Minervini champions a rigid stop-loss strategy, typically exiting a position if it falls 7-10% below his entry. This is the "S.L.A.P." (Small Losses, Large Profits) principle in action. While a novice holds a losing stock, praying for a return to break-even, the wizard cuts the tumor immediately. By preserving capital, he ensures he can live to fight another day. Conversely, when a stock performs as expected, he allows it to trend, using techniques like "raising the stop" to lock in profits. This creates a risk/reward ratio where a single large winner can offset a half-dozen small losers. In this framework, losing trades become not failures, but the cost of doing business—the rent paid for the chance to catch a multi-bagger. While a novice holds a losing stock, praying
: Look for companies where earnings per share (EPS) and revenue growth rates are accelerating quarter over quarter. This creates a risk/reward ratio where a single