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Investing vs. Trading: What's the Difference?
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00:00
When we think about people who invest in the stock market, two types generally come to mind: investors and traders.
當我們想到投資股市的人時，通常會想到兩種人：投資者和交易者。
00:07
The stereotypical image of a trader might be the frenetic floor trader, yelling orders across the trading pit, sleeves rolled up.
交易者的刻板印象可能是一位狂熱的場內交易員，捲起袖子，在交易池中大聲喊出訂單。
00:15
Traders generally buy stocks with the intent to sell when the price reaches a particular point, usually within a short time frame, in hopes of making a quick profit.
交易者通常會買入股票，打算在價格達到特定點位時賣出，通常在短時間內，以期快速獲利。
00:24
On the other hand, an investor might be the white-haired guru who knows everything about the guts of a company and focuses on building a portfolio that grows over time.
另一方面，投資者可能是一位白髮導師，對公司內部運作瞭如指掌，並專注於建立一個隨時間增值的投資組合。
00:34
Investors generally buy stocks and hold them with the expectation that they will grow in value and for the purpose of generating income via dividends, which are regular payments of profit to shareholders.
投資者通常會買入並持有股票，期望它們會增值，並以透過股息產生收入為目的，股息是定期支付給股東的利潤。
00:47
Typically, they don't intend to sell good stocks, even when times are bad.
通常，他們不打算賣出好股票，即使在市場不景氣時。
00:51
Now, these may be extreme stereotypes, but they do represent some key differences between the two types.
這些可能是極端的刻板印象，但它們確實代表了這兩種類型之間的一些關鍵差異。
00:57
You might now be asking, am I a trader or an investor?
你現在可能會問，我是交易者還是投資者？
01:01
Which one is better? How do I know?
哪一種更好？我怎麼知道？
01:04
To answer these questions fairly, let's evaluate traders and investors in an apples-to-apples comparison.
為了公平地回答這些問題，讓我們對交易者和投資者進行同類比較。
01:11
This can be done by breaking down how traders and investors differ in three main ways: time frame, activity, and risk management.
這可以透過分解交易者和投資者在三個主要方面的差異來完成：時間範圍、活動和風險管理。
01:19
While there are some common elements, traders and investors approach these elements in a slightly different way.
雖然有一些共同的要素，但交易者和投資者處理這些要素的方式略有不同。
01:27
First, let's dissect how traders look at time frame, activity, and risk.
首先，讓我們剖析交易者如何看待時間範圍、活動和風險。
01:32
Traders typically look at the market as a place to seek quick, short-term gains.
交易者通常將市場視為一個尋求快速、短期收益的場所。
01:37
Their goal is to figure out how to get in and get out of the trade with maximum profits, so that they can do it all over again.
他們的目標是弄清楚如何以最大利潤進出交易，以便他們可以重複操作。
01:44
This “do it all over again” attitude typically results in traders having a shorter time horizon for buying and holding stocks compared to investors.
這種「重複操作」的態度通常導致交易者相較於投資者，在買入和持有股票方面有較短的時間範圍。
01:54
Second, traders’ activity levels are different. Activity means trading, and a trader needs to know when to get in and get out of a trade.
其次，交易者的活動水平不同。活動意味著交易，而交易者需要知道何時進出交易。
02:02
For many traders, this means analyzing price charts and other signals.
對於許多交易者來說，這意味著分析價格圖表和其他信號。
02:07
Reading charts to know when to buy and sell a stock is often called technical analysis.
閱讀圖表以了解何時買賣股票通常稱為技術分析。
02:12
Finally, there's risk. When it comes to risk, traders often see risk in light of the probability of success of the particular trade.
最後，是風險。談到風險，交易者通常會根據特定交易的成功機率來看待風險。
02:21
Traders often use stop orders or exit points and price targets to create trades that have defined risk, which helps them calculate the probability of success.
交易者常利用止損單或出場點以及目標價位來建立具有明確風險的交易，這有助於他們計算成功的機率。
02:31
Now that you know how traders approach time, activity, and risk, let's look at how investors do.
既然您已了解交易者如何處理時間、活動和風險，現在讓我們看看投資者是怎麼做的。
02:36
Because investors want to generate earnings from the appreciation of investment and from dividends, their timeframe may be considerably longer than that of traders.
由於投資者希望透過投資增值和股息來賺取收益，他們的時間範圍可能比交易者長得多。
02:46
In fact, investors may simply buy a stock and hold it indefinitely with no plans to sell based on time.
事實上，投資者可能只是買入一檔股票並無限期持有，沒有基於時間的出售計畫。
02:54
Just like traders, investors have some means to determine when to enter an investment.
就像交易者一樣，投資者也有一些方法來決定何時進入一項投資。
02:59
Often, this decision is based on a company's overall health, which is determined by looking at its quarterly earnings report and balance sheets, income statements, and financial reports.
通常，這個決定是基於公司的整體健康狀況，這可以透過查看其季度收益報告、資產負債表、損益表和財務報告來判斷。
03:10
But unlike traders, investors typically don't have a specific plan to exit the stock at a particular price.
但與交易者不同的是，投資者通常沒有在特定價格出場股票的具體計畫。
03:16
For investors, risk management is a function of picking the correct investment in the first place.
對於投資者而言，風險管理的首要功能是選擇正確的投資標的。
03:22
Price fluctuations are simply an acceptable part of a stock's life.
價格波動只是股票生命週期中可接受的一部分。
03:27
And if the stock price does drop, investors tend to believe that it will go back up over the long haul.
如果股價確實下跌，投資者傾向於相信從長遠來看它會回升。
03:33
The amount of activity that investors engage in is generally much less frequent than that of traders and is often confined to simply adding new stocks to a portfolio over time.
投資者參與的活動量通常遠不如交易者頻繁，而且往往僅限於隨著時間的推移向投資組合中添加新股票。
03:43
If you're asking yourself, am I a trader or investor, you're not alone.
如果您正在問自己，我是一個交易者還是投資者，您並不孤單。
03:49
Let's answer this question by exploring “what if” scenarios?
讓我們透過探索「如果」情境來回答這個問題。
03:53
You might be a trader if you like the idea of buying and selling stock, if you buy based on expected price movements, and if you have no real interest in the underlying company beyond the movement of its stock price.
如果您喜歡買賣股票的想法，如果您的買入是基於預期的價格變動，並且除了股價變動之外，您對標的公司沒有真正的興趣，那麼您可能是一名交易者。
04:06
On the other hand, you might be an investor if you have a strong conviction about the long-term prospects for a company's growth, or if you're uncomfortable jumping in and out of the market based on short-term price changes.
另一方面，如果您對一家公司的長期成長前景有堅定的信念，或者您不習慣根據短期價格變化頻繁進出市場，那麼您可能是一名投資者。
04:19
So which one are you?
那麼您是哪一種呢？
04:21
Over time, you'll find that you tend to lean one way or the other, but you probably have some elements of both types.
隨著時間的推移，您會發現自己傾向於其中一種，但您可能同時具備兩種類型的某些特質。
04:27
You may have a large part of your portfolio in long-term investments where you act like an investor, and you may have another, likely smaller, portion of your portfolio dedicated to active trading.
您投資組合的很大一部分可能是長期投資，您在其中扮演投資者的角色；而您投資組合的另一部分（可能較小）則專用於積極交易。
04:39
When it really comes down to it, the answer to the question, “trader or investor” may simply be yes and yes.
歸根結底，「交易者還是投資者」這個問題的答案可能就是「是」和「是」。
05:02
Thank you.
謝謝。

Investing vs. Trading: What's the Difference?

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📝 影片摘要

本單元深入探討了股市中的兩種主要參與者：投資者與交易者。影片首先透過刻板印象區分兩者，隨後從時間範圍、活動頻率及風險管理三個關鍵維度進行了詳細比較。交易者追求短期快速獲利，頻繁進出市場並運用技術分析與止損單來管理特定交易的風險。相對地，投資者著眼於公司的長期成長與股息收入，持有股票時間較長，透過基本面分析選股，並將價格波動視為正常現象。影片最後指出，個人投資策略可能融合兩者特質，鼓勵觀眾根據自身偏好與目標來定位。

📌 重點整理

  • ✓ 股市參與者主要分為投資者和交易者。
  • ✓ 交易者目標是短期快速獲利，頻繁買賣股票。
  • ✓ 投資者目標是長期增值和股息收入，傾向長期持有。
  • ✓ 時間範圍：交易者持有時間短，投資者持有時間長，甚至無限期。
  • ✓ 活動頻率：交易者高頻交易，投資者相對較低，主要為增添新股票。
  • ✓ 交易者主要使用技術分析判斷進出場時機，分析價格圖表。
  • ✓ 投資者主要使用基本面分析評估公司健康狀況，如財報。
  • ✓ 風險管理：交易者設定止損點，投資者則著重於選對投資標的並接受短期波動。
📖 專有名詞百科 ｜點擊詞彙查看維基百科解釋
投資者
investors
交易者
traders
股市
stock market
利潤
profit
投資組合
portfolio
股息
dividends
技術分析
technical analysis
止損單
stop orders
資產負債表
balance sheets
損益表
income statements

🔍 自訂查詢

📚 共 10 個重點單字
investors /ɪnˈvɛstərz/ noun
people who put money into financial schemes, shares, property, etc. with the expectation of achieving a profit.
投資者
📝 例句
"When we think about people who invest in the stock market, two types generally come to mind: investors and traders."
→ 當我們想到投資股市的人時，通常會想到兩種人：投資者和交易者。
✨ 延伸例句
"Long-term investors focus on fundamental company strength."
→ 長期投資者專注於公司的基本面實力。
traders /ˈtreɪdərz/ noun
people who buy and sell goods or assets. In finance, specifically, those who buy and sell securities for short-term profit.
交易者
📝 例句
"When we think about people who invest in the stock market, two types generally come to mind: investors and traders."
→ 當我們想到投資股市的人時，通常會想到兩種人：投資者和交易者。
✨ 延伸例句
"Day traders aim to profit from small price movements."
→ 當日交易者旨在從微小的價格變動中獲利。
stock market /ˈstɒk ˈmɑːrkɪt/ noun
a system for buying and selling shares in companies; the shares that are bought and sold.
股市；股票市場
📝 例句
"When we think about people who invest in the stock market, two types generally come to mind: investors and traders."
→ 當我們想到投資股市的人時，通常會想到兩種人：投資者和交易者。
✨ 延伸例句
"The stock market experienced a significant downturn last week."
→ 股市上週經歷了顯著的下跌。
profit /ˈprɒfɪt/ noun
a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
利潤；收益
📝 例句
"Traders generally buy stocks with the intent to sell when the price reaches a particular point, usually within a short time frame, in hopes of making a quick profit."
→ 交易者通常會買入股票，打算在價格達到特定點位時賣出，通常在短時間內，以期快速獲利。
✨ 延伸例句
"The company announced record profits for the quarter."
→ 該公司宣布本季度利潤創紀錄。
portfolio /pɔːrtˈfoʊliˌoʊ/ noun
a range of investments held by a person or organization.
投資組合
📝 例句
"On the other hand, an investor might be the white-haired guru who knows everything about the guts of a company and focuses on building a portfolio that grows over time."
→ 另一方面，投資者可能是一位白髮導師，對公司內部運作瞭如指掌，並專注於建立一個隨時間增值的投資組合。
✨ 延伸例句
"Diversifying your investment portfolio can reduce risk."
→ 分散您的投資組合可以降低風險。
dividends /ˈdɪvɪdɛndz/ noun
a sum of money paid regularly (typically annually) by a company to its shareholders out of its profits (or reserves).
股息
📝 例句
"Investors generally buy stocks and hold them with the expectation that they will grow in value and for the purpose of generating income via dividends, which are regular payments of profit to shareholders."
→ 投資者通常會買入並持有股票，期望它們會增值，並以透過股息產生收入為目的，股息是定期支付給股東的利潤。
✨ 延伸例句
"Many retirees rely on dividends for their income."
→ 許多退休人士依靠股息作為收入來源。
technical analysis /ˈtɛknɪkəl əˈnælɪsɪs/ noun
a trading discipline employed to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume.
技術分析
📝 例句
"Reading charts to know when to buy and sell a stock is often called technical analysis."
→ 閱讀圖表以了解何時買賣股票通常稱為技術分析。
✨ 延伸例句
"Technical analysis often involves studying patterns in historical price data."
→ 技術分析通常涉及研究歷史價格數據中的模式。
stop orders /ˈstɒp ˈɔːrdərz/ noun
an order to buy or sell a security when its price moves past a particular point, ensuring a greater probability of achieving a predetermined entry or exit price, limiting the investor's loss, or locking in a profit.
止損單；停損單
📝 例句
"Traders often use stop orders or exit points and price targets to create trades that have defined risk, which helps them calculate the probability of success."
→ 交易者常利用止損單或出場點以及目標價位來建立具有明確風險的交易，這有助於他們計算成功的機率。
✨ 延伸例句
"Setting stop orders is a common risk management strategy for traders."
→ 設定止損單是交易者常見的風險管理策略。
balance sheets /ˈbæləns ʃiːts/ noun
a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.
資產負債表
📝 例句
"Often, this decision is based on a company's overall health, which is determined by looking at its quarterly earnings report and balance sheets, income statements, and financial reports."
→ 通常，這個決定是基於公司的整體健康狀況，這可以透過查看其季度收益報告、資產負債表、損益表和財務報告來判斷。
✨ 延伸例句
"Analysts examine balance sheets to assess a company's financial stability."
→ 分析師會審查資產負債表以評估公司的財務穩定性。
income statements /ˈɪnkʌm ˈsteɪtmənts/ noun
a financial statement that reports a company's financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities.
損益表
📝 例句
"Often, this decision is based on a company's overall health, which is determined by looking at its quarterly earnings report and balance sheets, income statements, and financial reports."
→ 通常，這個決定是基於公司的整體健康狀況，這可以透過查看其季度收益報告、資產負債表、損益表和財務報告來判斷。
✨ 延伸例句
"The income statement shows a company's revenues and expenses over a period."
→ 損益表顯示公司在一段時間內的收入和支出。
🎯 共 10 題測驗

1 What are the two main types of people generally thought of when considering those who invest in the stock market? 想到投資股市的人時，通常會想到哪兩種主要類型？ What are the two main types of people generally thought of when considering those who invest in the stock market?

想到投資股市的人時，通常會想到哪兩種主要類型？

✅ 正確！ ❌ 錯誤，正確答案是 A

The video states that when thinking about people who invest in the stock market, two types generally come to mind: investors and traders.

影片指出，當我們想到投資股市的人時，通常會想到兩種人：投資者和交易者。

2 What is the primary goal of a trader in the stock market? 交易者在股市中的主要目標是什麼？ What is the primary goal of a trader in the stock market?

交易者在股市中的主要目標是什麼？

✅ 正確！ ❌ 錯誤，正確答案是 C

Traders typically look at the market as a place to seek quick, short-term gains.

交易者通常將市場視為一個尋求快速、短期收益的場所。

3 How do investors typically generate income from their stock holdings? 投資者通常如何從其持有的股票中產生收入？ How do investors typically generate income from their stock holdings?

投資者通常如何從其持有的股票中產生收入？

✅ 正確！ ❌ 錯誤，正確答案是 B

Investors want to generate earnings from the appreciation of investment and from dividends.

投資者希望透過投資增值和股息來賺取收益。

4 What analytical method is often used by traders to decide when to buy and sell stocks? 交易者常用哪種分析方法來決定何時買賣股票？ What analytical method is often used by traders to decide when to buy and sell stocks?

交易者常用哪種分析方法來決定何時買賣股票？

✅ 正確！ ❌ 錯誤，正確答案是 B

Reading charts to know when to buy and sell a stock is often called technical analysis.

閱讀圖表以了解何時買賣股票通常稱為技術分析。

5 What is a common risk management tool used by traders to define risk? 交易者常用哪種風險管理工具來定義風險？ What is a common risk management tool used by traders to define risk?

交易者常用哪種風險管理工具來定義風險？

✅ 正確！ ❌ 錯誤，正確答案是 B

Traders often use stop orders or exit points and price targets to create trades that have defined risk.

交易者常利用止損單或出場點以及目標價位來建立具有明確風險的交易。

6 What aspects of a company's health do investors typically examine to determine when to enter an investment? 投資者通常會檢查公司健康狀況的哪些方面來決定何時進行投資？ What aspects of a company's health do investors typically examine to determine when to enter an investment?

投資者通常會檢查公司健康狀況的哪些方面來決定何時進行投資？

✅ 正確！ ❌ 錯誤，正確答案是 C

This decision is based on a company's overall health, which is determined by looking at its quarterly earnings report and balance sheets, income statements, and financial reports.

這個決定是基於公司的整體健康狀況，這可以透過查看其季度收益報告、資產負債表、損益表和財務報告來判斷。

7 What is an investor's typical approach to stock price fluctuations? 投資者對於股價波動的典型態度是什麼？ What is an investor's typical approach to stock price fluctuations?

投資者對於股價波動的典型態度是什麼？

✅ 正確！ ❌ 錯誤，正確答案是 C

For investors, risk management is a function of picking the correct investment in the first place. Price fluctuations are simply an acceptable part of a stock's life.

對於投資者而言，風險管理的首要功能是選擇正確的投資標的。價格波動只是股票生命週期中可接受的一部分。

8 Which of the following best describes the time frame for which traders typically hold stocks? 以下哪項最能描述交易者通常持有股票的時間範圍？ Which of the following best describes the time frame for which traders typically hold stocks?

以下哪項最能描述交易者通常持有股票的時間範圍？

✅ 正確！ ❌ 錯誤，正確答案是 C

This “do it all over again” attitude typically results in traders having a shorter time horizon for buying and holding stocks compared to investors.

這種「重複操作」的態度通常導致交易者相較於投資者，在買入和持有股票方面有較短的時間範圍。

9 If you have a strong conviction about a company's long-term growth prospects and are uncomfortable with frequent market entries and exits based on short-term price changes, you are likely what? 如果您對一家公司的長期成長前景有堅定的信念，並且不習慣根據短期價格變化頻繁進出市場，您可能屬於哪種類型？ If you have a strong conviction about a company's long-term growth prospects and are uncomfortable with frequent market entries and exits based on short-term price changes, you are likely what?

如果您對一家公司的長期成長前景有堅定的信念，並且不習慣根據短期價格變化頻繁進出市場，您可能屬於哪種類型？

✅ 正確！ ❌ 錯誤，正確答案是 B

You might be an investor if you have a strong conviction about the long-term prospects for a company's growth, or if you're uncomfortable jumping in and out of the market based on short-term price changes.

如果您對一家公司的長期成長前景有堅定的信念，或者您不習慣根據短期價格變化頻繁進出市場，那麼您可能是一名投資者。

10 The video concludes that the answer to "trader or investor" is often "yes and yes." What does this imply? 影片總結說，「交易者還是投資者」這個問題的答案通常是「是且是」。這意味著什麼？ The video concludes that the answer to "trader or investor" is often "yes and yes." What does this imply?

影片總結說，「交易者還是投資者」這個問題的答案通常是「是且是」。這意味著什麼？

✅ 正確！ ❌ 錯誤，正確答案是 C

You may have a large part of your portfolio in long-term investments where you act like an investor, and you may have another, likely smaller, portion of your portfolio dedicated to active trading. When it really comes down to it, the answer to the question, “trader or investor” may simply be yes and yes.

您投資組合的很大一部分可能是長期投資，您在其中扮演投資者的角色；而您投資組合的另一部分（可能較小）則專用於積極交易。歸根結底，「交易者還是投資者」這個問題的答案可能就是「是」和「是」。

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