Okay, this kind of tiredness and that kind of tiredness are actually the same.
Su Ya boarded Xing Baohua's private plane on Sunday night to return to China.
Finally, I can get a good night's sleep.
I woke up early Monday morning and arrived at the company early.
Before the market opened, Xing Baohua held a small routine meeting, which was attended by all employees.
Xing Baohua stood at the door of his office, looking at the fifty or sixty people, and slowly said, "Today is an unusual day. I only hope that everyone can complete their work."
The group didn't understand what the boss was talking about.
Many employees looked towards the analysts, leaving the analysts completely bewildered.
Everyone was expecting a big surge on Friday. But the thought of the boss holding hundreds of billions in short positions made me realize that a surge could mean even greater losses for him, potentially wiping out his entire fortune.
The thought of this made the employees uneasy. It seemed they needed to prepare their resumes in advance, as finding a decent job these days was not easy.
Xing Baohua's intention was to tell everyone not to panic when they saw the stock market crash approaching.
Anyone who works on Wall Street has more or less stocks, funds, insurance, and the like.
With a stock market crash looming, these things become worthless, which will definitely cause panic among your employees. Everyone will be thinking of making phone calls to quickly sell their financial products to avoid even greater losses.
Back then! Could you give Xing Baohua a proper job?
After saying a few inexplicable things, the meeting adjourned, and the analysts began their work for the day.
Okay, the analysis results are all bullish.
Without any news, analysis can only be done through technical charts; for accuracy, news-related information is needed to support the analysis.
Xing Baohua is working on an index, which requires broader information.
Aside from Greenspan's remarks on Friday, no other news has been released.
Greenspan's message, which was directed at the Japanese, caused volatility in the bond and foreign exchange futures markets.
Looking back, the bond market and foreign exchange futures market didn't experience any significant fluctuations.
At 8:50, you can place an order.
At this point, we can see that the number of orders is gradually increasing.
Since the United States implemented computerized algorithmic trading, it has made it easier for many companies, institutions, and individuals to conduct transactions in a simplified manner.
This convenient method is very popular.
Xing Baohua asked the trader how much capital they had left. Before checking the market, he instructed them to buy all short positions at that price, leaving none open.
Therefore, the amount of purchases gradually increased.
There are quite a few short orders above Xing Baohua's, and as soon as the market opens, there will be many companies and institutions wanting to take advantage of Xing Baohua's short orders.
With such a significant price increase, some people are going against the grain; isn't that just throwing money away?
Anyone would be willing to eat it.
Xing Baohua has about 300 million US dollars left, which is a very small amount. In fact, he only uses this money to maintain his margin.
Now, it's probably not needed anymore. In seven or eight minutes, we'll witness a miracle.
This is Xing Baohua's last gamble; if he loses, he will have nothing left.
The employees outside were unaware of what was happening inside the trading room, and the traders were all nervous.
In fact, when Xing Baohua still had four or five hundred million US dollars left, the trader warned him not to operate with a full position, as this was an industry norm.
A few hundred million in funds is simply not enough to support a portfolio of tens of billions. It's extremely dangerous.
But what can you do when Xing Baohua is the boss?
Ignoring advice, they continued to hold a fully invested position.
At this point, before the market opened, they bet everything.
Moreover, the boss is unwilling to cut losses; he's so reckless! If the margin can't keep up with a price surge, the funds in your account will be consumed at a visible speed.
Margin call.
It's so exhilarating! Some people went all in, and before they even understood what was happening, it all exploded in less than a minute.
This has also caused many disputes between clients and brokerage platforms.
Later, when refining industry standards, professional traders were clearly informed that when managing clients' funds, they must tell clients what full leverage means, the dangers of full leverage, and the importance of stop-loss.
Cutting your losses is the only way to leave you with some living expenses and a chance to recover your losses.
Don't even think about making a comeback. If you have that thought, it's not easy to even save up a train ticket home.
The traders stared at their computer screens, while the cameras continued to record.
I don't know what the boss was thinking.
9:00
The stock market opens.
The trader's forehead was covered in sweat.
Immediately afterwards, a warning zone in the lower left corner of the trading software on the computer turned red.
The trader watched the rising price while clicking the red button, which displayed a transaction order.
Shout loudly:
"Order number 1 has been liquidated."
"Order number 2 has been liquidated."
"Order number 5 was liquidated!"
Xing Baohua didn't move upon hearing the news, but Huang Xingyao's face changed. He quickly went to the trading room and asked how much the losses were.
"Seven trades were liquidated, resulting in a total loss of 830 million."
Less than a minute after the market opened, a sudden surge caused Xing Baohua's several risky orders at the very bottom to be liquidated without margin support.
It took less than a minute, but it felt incredibly good, so good that my heart felt like it was about to stop.
Would a trader dare to complain about their boss?
Just a dozen minutes ago, it would have been better to keep the little money I had on hand as collateral, so I could have at least put up a fight.
The traders were shouting "margin call!" so loudly that the employees outside could hear them. Even the analysts came out and entered the trading room.
All eyes turned to Xing Baohua's office.
This guy lit a cigarette, acting like nothing was wrong. The loss of eight hundred million is a real, tangible fact.
Director Liang and Director Xue exchanged a glance, preparing to persuade Xing Baohua to lend them money.
My dear reader, there's more to this chapter! Please click the next page to continue reading—even more exciting content awaits!
Continue read on readnovelmtl.com
