Chapter 569 Gamblers
For the sake of the old man, the Chen family has been busy these two days.
The house in the city is still being renovated, and Xiao Wu lives in the school temporarily. She should have gone to school in the afternoon, but it was not until before dinner that everyone remembered this.
"You damn girl, do you need someone to remind me when you go to school?"
Tao Xiuying was so angry that she didn't have to worry about her son, and the third and fourth brothers didn't have to worry about it. Xiaowu was fine, but she didn't have much inspiration to study. Now she was focused on her little daughter, and her requirements were not high. At least she couldn't let her fall behind too much.
Xiaowu said frowningly: "I still remember what I've been talking to Tianyang for a while, but I forgot it."
Tao Xiuying glanced at her daughter and said angrily: "You, your mind is useless. You are more energetic than anyone else during holidays, and you become weak as soon as you go to school..."
Xiaowu has always been very strong-willed, but when facing Tao Xiuying, he had to be honest.
It is always good to be able to control Xiaowu. Chen Qiaoshan was so happy that he was laughing at it. When Tao Xiuying was almost done in his training, he said, "Mom, I will send Xiaowu to school early tomorrow, so I will not delay her class."
Tao Xiuying nodded. Her husband was guarding the old man in the hospital, so he could only let his son go.
Xiaowu was scolded for a long time and finally got relieved. She said with a frown: "I went to the city to see my grandfather yesterday, and I haven't finished my homework yet."
"What are you waiting for? Can you ask me to help you?" Tao Xiuying was helpless. After raising four children, her little daughter gave her the most headache. She didn't know when she would be able to be truly sensible. After worrying about Xiaowu's affairs, she asked again: "Second, when will you leave?"
"I'll leave tomorrow morning. After seeing Xiaowu off, I'll go and see the old man." The old man's condition improved, and Chen Qiaoshan began to think about Hong Kong again.
When he heard that his son was about to leave now, he hurriedly walked around, Tao Xiuying felt a little distressed, "So anxious? Why don't you rest at home for a day and leave the day after tomorrow?"
"Mom, it's really not possible. The air tickets are all settled. I'm waiting in Hong Kong." Since returning, Chen Qiaoshan has been worried. Now that the old man's condition is stable, he has no intention of staying at home.
Tao Xiuying was helpless, and she couldn't help but grow up, not to mention that her son is a promising person. "You are not young anymore, I won't say much about anything else. You have to take good care of yourself when you go out..."
Listening to Chen's moan, Chen Qiaoshan felt much more at ease for no reason, but it didn't last long. That night, he received Elliot's call.
"What did you say? There is a profit on the books?" Chen Qiaoshan was shocked. He knew the market trend. Although there were fluctuations now, there were only two possibilities for making money by short selling. Either they frequently trade short-term and accurately grasp the trend. This was obviously impossible, or Cecil and Lu Zhaolin changed their positions privately.
Thinking of this, Chen Qiaoshan's face changed drastically.
Traders without permission can only be regarded as tools, such as the lowest execution traders. Most of them are like this in China. They do not need much professional knowledge or technical analysis. They just need to place an order according to the instructions.
Chen Qiaoshan thought carefully that he had no trading experience. In order to avoid being strike out and to pursue maximization of interests, trading authority must be given. At the same time, his requirements were also very clear. If you see, there must be something wrong with opening short positions in time.
Elliot said on the other end of the phone: "Chen, the transaction records and the rights of the day have been sent to you, but you haven't received them?"
Yesterday, Chen Qiaoshan was worried about the old man. He was either in the hospital or on the way to the hospital, so he had no intention of reading the emails.
At this time, there was no need to worry much, Chen Qiaoshan asked directly: "Eliot, did Cecil build a long order?"
"Yes." Elliott answered very simply.
Nowadays, measuring the ability of traders is very simple and crude, it depends on the ability to make money.
As a futures trader, we do not pursue the maximization of interests, but obtain the greatest profit with the smallest risk. Heavy positions against the market and no stop loss are definitely taboos in the industry. If we continue to execute Chen Qiaoshan's instructions, it is obviously both of them will be violated.
Elliott didn't think Cecil's decision was wrong, "Chan, if you execute your order, the loss has exceeded seven million US dollars. If it continues to rise tomorrow, you have only two options, either be forced to settle or add margin."
After a pause, Elliot explained: "You have to understand Cecil's decision, his judgment is correct and he has recovered a lot of losses for you."
Chen Qiaoshan felt anger, but he couldn't say it clearly.
I did make a profit now, but at most I waited for another day, and it was not certain whether I made a profit or lost. Fortunately, there was still room for improvement.
He remembers very clearly that the trend will reach a high point tomorrow. As long as the long positions are closed before this, the situation can still be recovered.
Chen Qiaoshan couldn't calm down at this time. He said coldly: "Eliot, listen well, go find Cecil and Lu Zhaolin now and tell them to close their long positions immediately. Also, from now on, build short positions regardless of costs."
"Chen, aren't you kidding?" Elliot knew that Chen Qiaoshan was brave, but it was undoubtedly extremely risky to dare to place a heavy bet on shorting crude oil at this time, especially involving more than 10 million US dollars.
"Eliot!" Chen Qiaoshan said gritting his teeth: "You go to the hotel to keep an eye on it until I arrive in Hong Kong."
Chen Qiaoshan didn't care about any trouble in the future at this time, and he said directly: "I bet the market will not exceed US$56, tell them my decision."
"Also, if you spend money to invite them, you have to listen to me. If you don't execute the instructions, let them get out immediately. You can do business yourself and find an intern to replace him."
Elliot felt a little ridiculous. Now he was making money, but Chen Qiaoshan's tone was sarcastic. He never expected that Chen Qiaoshan's gambling would be so heavy.
The last time the option contract entered the market due to losses, this time it was a heavy position against the market, and the risks were much higher, especially the bets that were not cost-effective.
The current market is less than 50 cents away from 56 US dollars. If you use this as a benchmark to calculate leverage, it is undoubtedly extremely crazy. Any fluctuation will make you lose all your money.
Elliot really couldn't figure out where Chen Qiaoshan got the confidence, "Chen, do you want to think about it again?"
"No, do as I said." Although it may arouse Elliot's suspicion, since he has decided, Chen Qiaoshan did not hesitate at all.
The capital market only discusses success or failure. People always only care about how much you have made. No one cares about your decision-making process. Even if someone asks about it in the future, he can push his eyes or intuition, and no one can find fault.
After explaining everything, Chen Qiaoshan gradually calmed down, but Elliot's mind was ups and downs. In his eyes, Chen Qiaoshan had become a complete gambler.
Chapter completed!