The next day, Li Baolong strolled into his futures trading room as usual. Once inside, he first made himself a cup of tea—his unwavering pre-market ritual—and then sat down to wait for the market to open.
Sure enough, a lot of money poured in as soon as the market opened, and the price of London copper soared. By noon, wow, the increase had reached three percent. Li Baolong sat there, secretly calculating in his mind, there were still four hours until the market closed, so he decided to go out and get something to eat.
He ate a few bites at the tea restaurant and then hurried back to the VIP room to watch the market. At 2:30 PM, London copper prices surged dramatically, as if injected with adrenaline. In less than half an hour, they had risen by six percent. Most investors, seeing this momentum, would probably think to wait and see if it could rise further. But Li Baolong had his own calculations. He felt it was about time and decisively placed a sell order for HK$500 million. The market liquidity was good, and the order was executed instantly.
At this point, he held approximately 3 billion in chips. Seeing that the upward momentum of London copper had slowed somewhat, he didn't hesitate and sold another 1 billion Hong Kong dollars worth of London copper. This caused the buying pressure at the bottom to falter, and the market traded sideways for a few minutes. Unexpectedly, more funds entered the market, adding buy orders and trying to push the price up further. Li Baolong sneered inwardly, thinking, "If I don't run now, am I supposed to wait for the market to reverse?" Without another word, he dumped the remaining 2 billion in contracts.
In an instant, the price of London copper plummeted from a 6% gain to around 4%, like a rollercoaster ride. Li Baolong looked at the screen and breathed a sigh of relief. This single operation had secured him HK$3.5 billion. Li Baolong's first foray into futures trading in Hong Kong was a resounding success.
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