The speaker was Sim's business partner. Like Sim, he was a financial maverick. After they met, they discovered that the other had certain qualities that belonged to them. They hit it off and founded the private equity fund they have now.
"If we liquidate our positions now, all the profits we made will be wiped out, and we can hardly guarantee our performance this year. In addition, we will lose our management fees and our share of excess profits."
"I think this must be an accident. Let's wait and wait until tomorrow during the day. As long as the bot intervenes, everything will return to normal. Trust my intuition, don't sell everything now."
Sim's words were entirely based on his trust in the bot. If the bot intervened, then just as he predicted, he would make a fortune in this short-term trade.
Conversely, if the bot doesn't intervene, the outcome will be the opposite; in that case, not only will you not make money, but you'll lose everything.
Don't forget, the currency market is a highly leveraged market.
The margin requirements for typical currency contracts are relatively low, and the leverage is usually between ten and one hundred times.
Of course, you can amplify the leverage ratio again through securities firms, but only if the account is profitable. Once a loss occurs, these profit-driven securities firms will not only stop providing leverage, but will also require additional margin in order to control the risk.
In addition, due to the recent abnormal fluctuations in Thai baht contracts, the exchange has increased the margin requirements in an effort to control the risk of default and, to some extent, eliminate the possibility of certain speculations.
At this point, Sim was almost driven to madness. He hadn't even considered the worst-case scenario. All he wanted now was for the bot to intervene so that he could get through this difficult time.
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