中国证券市场经过近二十年的发展已初具规模，中小投资者、机构投资者的量迅速增加，股票交易量和资本市场也屡创新高，在2007 年总市值甚至超过了前一年的国内生产总值，即使在经济危机背景下，在2008 年3 季度，总市值仍然达到了国内生产总值的73%。但是，目前我国证券市场还存在许多问题。主要为中小投资者数量较大，但总体投资哲学和心理学尚未形成一个较为成熟的风格；机构投资者的发展是不够的，投资研究和投资策略仍然是新的补充和发展；由于在股市存在投资者的非理性行为现象，因此从投资者的有限理性行为进行了分析，并提出了改进建议和投资策略，将对投资者行为和提高股市效率很有帮助。
关键词：证券；金融；投资策略。
China stock market after nearly twenty years of development has begun to take shape, the medium and small investors, institutional investors has increased rapidly, stock trading volume and the capital market also innovates repeatedly tall, in 2007 the total market capitalisation than the previous year’s gross domestic product, even in the context of economic crisis, in the 3 quarter of 2008, the total market value still73% of gdp. However, at present our country stock market still exists a lot of problems. Mainly for the medium and small investors the amount is larger, but the overall investment philosophy and psychology has not yet formed a more mature style; the development of institutional investors is insufficient, investment research and investment strategy is still a new supplement and development; as in the stock market investors irrational behavior, therefore from the investors’ Limited rational behavior are analysed, and puts forward the improvement proposal and investment strategy, the behaviors of investors and improve the stock market efficiency is very helpful.
Key words: financial: securities： investment: strategy
(一) 起步阶段(1978．1991)…………………………… 2
(二) 初创时期(1991-1998)……………………………. 2
(三) 高速发展阶段(1999-2001)…………………………. 2
(四) 规范阶段(2001至今)…………………………….. 2
6、均线摆动（DMA）和平滑异同移动平均（MACD）………… 8
参考文献…………………………………………………………………………………………………………… 10
致 谢……………………………………………………………………………………………………………. 11
