legendary trader

Chapter 193 Chapter 192
Zheng Xiaopang went home, Liu Ying had already left Jinling with her parents, planning to spend some time in the West Lake.

In the past two days, Chen Fan and Zhang Yang have been watching the market together in the company, drinking tea, bragging, and occasionally calling Ma Yunbo and Zhang Ping to play two games of poker. Anyway, some people are staring at gold and crude oil. Being stabilized by the main force of the market around 1900 points, Chen Fan stopped reading it a long time ago, and just learned the latest information through the analysis reports in the morning and afternoon every day.

On Tuesday, gold fell below the 290-meter threshold, and crude oil also fell below 13 yuan. The two brothers and sisters went down together.

By Thursday afternoon, shortly after the London market opened, the price of gold fell below 280 meters again.

This time, after the gold price hit a new low, there was no strong rebound immediately, and there was no accelerated decline after falling below an important support level. Instead, it continued to decline slowly along the previous market trend.

Chen Fan scanned the positions of Chaofan Investment. He currently holds 100127 lots of gold, with an average price of 298.72 yuan per ounce. The standard lot is 100 ounces. The market value of gold is as high as 29.9 billion yuan, and the funds frozen under 20 times leverage are as high as 1.5 million rice yuan.

Looking at crude oil futures, there are 76728 empty orders, with an average price of 14.82 m/barrel, a standard lot of 1000 barrels, a market value of 11.37 billion m, and a crude oil futures margin of 1000 m per lot, so the frozen margin is 7673 million m Yuan.

As for the Nasdaq index futures that Chen Fan has operated several times, the current total contracts do not exceed 2 lots.

Because gold and crude oil are linked to a certain extent, after seeing the abnormal situation in gold, Chen Fan is now also very worried that crude oil will suddenly rise, so he can't help but worry about it.

Fortunately, a week has passed, and the crude oil has not shown the situation that Chen Fan was worried about. Under such conditions, Chen Fan only needs to focus on gold.

Over the weekend, after the market opened on Monday, the price of gold went all the way down the lower track of the descending channel, and soon touched 276 yuan, and then there was a slight correction. The price has already fallen slightly below the lower track of the channel.

Chen Fan saw it, and took out his mobile phone to call Zheng Xiaopang, "Pang, when will you come back, the golden drama is about to begin."

Zheng Xiaopang: "I can't come back today. I will come back early tomorrow morning. My mother will keep me for one more day. Help me watch the dishes, okay, hang up, my mother called me."

Before Chen Fan could say a word, Zheng Xiaopang hung up the phone.

Looking at the phone, Chen Fan was speechless for a while.

In the afternoon, the price of gold broke through the bottom again, and fell slightly all the way to 273 meters. Finally, it was still running on the lower rail of the passageway. Zhang Yang and Ma Yunbo also felt that something was wrong, and ran to Chen Fan's office.

The three discussed for a while, and finally Chen Fan made a decision. If the price of gold fell below 270 yuan, he would start to lighten up his positions. If it fell to 260 yuan, the gold short position would be controlled within 5 lots, and he would increase the intensity of liquidation.

Chen Fan is not sure where the reversal point of the gold price is now, but he feels that it will be between 250-260, and the probability of falling below 250 yuan is not high, so he decided to close all short positions at 255 and wait for an opportunity to enter. Multiple orders are ready to meet the rising market in the future.

The reason why he told Zhang Yang and Ma Yunbo about the operation plan was that Chen Fan was mainly worried that the crude oil would also have an abnormal trend at a critical time, and he would not be able to be distracted at that time, and there would be a situation where he could not take care of both ends.

After the arrangement is made, let Ma Yunbo be responsible for watching the market, and Chen Fan and Zhang Yang go to rest for a while. At night, Chen Fan and Zhang Yang will switch to watch the market. He went home to watch over his parents better.

After dinner and seeing off Ma Yunbo, Chen Fan and Zhang Yang returned to the company. Chen Fan went to the crude oil trading room first, and saw that the crude oil price was still fluctuating above 12.8 yuan, and the market trading was relatively active, showing that the underlying support was very strong.

Seeing this, Chen Fan felt relieved. The ability didn't detect any abnormal movements of crude oil, so he told the two traders to keep an eye on the market, turned around and went to the gold trading room next door.

Walking into the trading room, Chen Fan sat down next to Zhang Yang, and turned on the computer to check the market conditions.

It was only after 8 o'clock in the evening, and Chen Fan directly entered the gold market.

In the afternoon, there was another slight decline in the price of gold. The lowest point was 271 yuan, and it was pulled back to 273 yuan under the buying orders of many parties. This will drop to 272 yuan and the price will fluctuate up and down.

Looking at the multiple orders constantly appearing in the market, Chen Fan frowned, "Where are there so many buy orders, and the obvious downward channel is still entering the market, isn't this a gamble?"

Zhang Yang next to him turned his head and smiled, "Don't you also have some doubts that the price of gold is going to rise? What will happen?"

Chen Fan shook his head and said, "If the buy order is too strong, it will be a disaster if the gold price cannot fall. Now our position is not light."

Zhang Yang scratched his head with his hands and smiled, "That's why we are sitting here. We should be very close to the turning point now."

"It should be far away. It stands to reason that we should see it this week. What I am most afraid of now is the prediction error. If the gold price is not afraid of 260, we will be in danger." Chen Fan closed his eyes slightly as he spoke, and kept thinking about the price of gold in his mind. The follow-up trend will be deduced.

After thinking for a long time, I opened my eyes and looked at the K-line chart, and finally shook my head and sighed, "There are too many participants in gold, so it's hard to guess."

Zhang Yang turned to Chen Fan and asked, "What are you worried about? Now that the market is bearish on gold, why do you have such a strong bullish sentiment? I have never figured this out."

Chen Fan lowered his head and thought for a while before saying: "The price of gold is too cheap now, whether it is social consumption or industrial production, the demand is not small. What's more, it is a precious metal. What I am most afraid of is that the central bank will come in and sweep the goods. Now that it is so cheap, there is no reason for the central bank not to enter the market and increase its holdings of gold."

"No way, many countries in Europa are now scattered to sell the gold in their treasury, how could a country enter the market?" Zhang Yang looked at Chen Fan with disbelief, with the expression of you lying to a child, "I don't read much, don't fool me."

"Hahaha" Chen Fan laughed out loud when he saw Zhang Yang's expression, "Okay, let's get down to business. In fact, Xiaopang and I have the same opinion on gold. The local tyrants have a lot of money. If they think gold is cheap, they might as well keep more in their hands, so Bullish on gold."

After laughing enough, Chen Fan said to Zhang Yang in a serious manner: "Actually, we are bullish on gold mainly because the price is cheap enough. You know the local tyrants in the Middle East. They have money and have no place to put it. It would be better to exchange it for gold.

Our country is also a big consumer of gold, and so is the next door.People in the West keep saying that gold is useless, but you have also seen the analysis report some time ago, the gold sold by the Central Bank of England never entered the market at all, and was directly taken away by nobles and big bosses.

As long as the price of gold falls low enough, even if its value does not weaken, the demand for investment will still pull up the price of gold. "

"This statement is very far-fetched, which means that you think the price of gold is very low, and you plan to buy a large amount of gold, so you think that others will have the same thoughts, so you think you are going to be one step ahead, so you think that the price of gold after the big drop Is it bound to rise?"

Zhang Yang still asked what was in his heart, "There is no reason for you to be bullish at all, it's just a personal preference for investing."

"You're right." Chen Fan nodded and said, "But cheapness itself is worth investing in. Isn't investing at a low price and a high price to leave? You think it's cheap, and you still don't enter? What are you waiting for? "

"Ah?" Zhang Yang suddenly found no reason to refute Chen Fan. Investment itself is an act of buying low and selling high, there is nothing wrong with it.

Although Zhang Yang still has doubts about what Chen Fan said, but as a big boss, and hearing what Chen Fan said inside and outside, Zheng Xiaopang is also a supporter of gold. As a small minority shareholder of the company, Zhang Yang feels that there is no sufficient reason It's better for me to shut up before, not to mention that it's hard to say anything under the premise that Chen Fan hasn't made any mistakes in trading.

The price of gold fell below 272 yuan again amid the unnutritive gossip between the two, and began to approach today's intraday low.

Chen Fan saw that the two traders next to him were eating snacks and smacked their lips. Chen Fan got up and went to the food counter next to him to pick some snacks and walked over, "Come, eat some."

Zhang Yang picked up the strong tea on the table and took a big sip, then took the snacks that Chen Fan handed over.

"Look at the gold, let me see what's going on at the rice stock market." Chen Fan said to Zhang Yang while eating after he sat down.

Zhang Yang smiled and shook his head, "The rice stocks are consolidating around 1900 points, and it will probably be another boring week."

The corner of Chen Fan's mouth twitched, but he still switched to look.

After confirming that there was no abnormal trend in the rice stocks, Chen Fan began to switch to other trading varieties, constantly checking the market changes in other markets.

I don't know how long it took, and suddenly a trader shouted: "The market has a lot of empty orders, and the price may dive."

Only then did Chen Fan turn his head and look at Zhang Yang. Zhang Yang was rubbing his eyes at this moment, and it seemed that he had just squinted for a while.

Switching back to the computer screen, Chen Fan saw that the price of gold had fallen below 271 yuan, and began to slide rapidly towards the 270-meter mark.

Zhang Yang gradually regained his energy, staring at the computer screen and asking, "How big is the list?"

The trader replied: "The order that broke 271 points just now is a continuous three-digit short order, with a total of [-] to [-] lots. The long order did not increase significantly, so it fell directly below."

"It seems that breaking 270 tonight is a foregone conclusion. We will close the 1 lot in a while." Chen Fan looked at the previous transaction data, turned his head and said to Zhang Yang.

Zhang Yang rubbed his face, picked up the cigarette on the table and lit himself another, remembering that Chen Fan was still beside him, he handed over the cigarette case.

Chen Fan took the cigarette case and lit one, then threw the case to the trader next to him, unexpectedly he just smiled at Chen Fan and shook his head.

"It's a good habit not to smoke." Chen Fan laughed at himself, "I didn't smoke at the beginning, but it was because of you, Mr. Zhang, who led me to ruin it."

"Cut, it seems like someone cares about your smoking." Zhang Yang murmured, then turned to the two traders and said, "After a while, you will start to close 270 lots of small orders after falling below 1 yuan. Be careful not to overdo it." Concentrate and avoid affecting market operations.”

"receive."

(End of this chapter)