Starting from the 15th, for three consecutive days, the WTI crude oil futures price has remained fluctuating around US$46, and the range price has not made much breakthrough from beginning to end.

As old birds in the market, Cecil and Lu Zhaolin have already realized that something is wrong.

The weekly moving average suddenly adjusted its direction, indicating that the market has entered a consolidation period. Without Chen Qiaoshan's reminder, both of them knew what this meant.

If the market is one-sided, it will definitely be a heavy position to follow the trend. In the past month, they have indeed implemented this.

But today is different from the past. Although it is impossible to accurately judge whether the market will reverse, in the absence of significant pressure or external support, light positions or even short positions are definitely the best choice.

The two of them were very obedient this time. On the night of the 17th, they sent the clearance plan to Chen Qiaoshan, but they did not receive feedback as soon as possible. As a result, Elliot arrived in Yanjing early on the 18th.

"Chan, you're so calm." As soon as we met, Elliott said first, but he couldn't hear whether he was praising or complaining.

In the futures industry, take profit and stop loss are equally important.

Elliot has now fully understood that there is no one who dares to win orders than Chen Qiaoshan.

There is no doubt that no matter what kind of consolidation pattern it is, it is very dangerous. If you lose a lot of money, you will not stop losing money, and make a lot of money, it is almost a waste of death. However, in Chen Qiaoshan, two times have been staged in more than 20 trading days.

Cecil's and Lu Zhaolin's plan did not respond, and Chen Qiaoshan's phone was turned off again. If it weren't for the small fluctuation, Elliot would not have waited until now, and he would have to catch last night's Red-eyed flight.

Chen Qiaoshan smiled and said, "Are you a compliment or a ridicule?"

Elliot smiled bitterly. He originally thought that Chen Qiaoshan was a little greedy, which was normal. If he could seize the opportunity, no one in the financial market would be tormenting bones and marrow, but the more he didn't know how to restrain himself, the more he ended up becoming more miserable.

Seeing Chen Qiaoshan's calmness, Elliot hesitated a little.

Unlike Cecil and Lu Zhaolin, Elliot already has a good understanding of Chen Qiaoshan. Whether it is crude oil options or futures, Chen Qiaoshan's entry time is extremely strange.

Options face losses when entering the market, and the same is true for crude oil futures. As soon as they entered the market, the principal was huge, but what makes people speechless is that both transactions allowed Chen Qiaoshan to seize the opportunity. So far, the principal has increased by more than 30 times. The key is that Chen Qiaoshan dares to place heavy bets, which is not comparable to ordinary speculators.

The market is keen on discussing the myth of wealth. In the eyes of those who are interested, Chen Qiaoshan’s every move in his account has attracted much attention.

Although it uses FXI’s global platform, Hong Kong’s personal accounts are regulated by the Hong Kong Securities Regulatory Commission, with a monthly surplus of over US$60 million. Such a large amount of futures speculation can’t be hidden just by hiding the news.

Even if there is a strict anonymity system, no matter which financial institution, some sources or anonymous insiders are indispensable. In the absence of any concern, the news can always be revealed, whether true or false.

Fortunately, Chen Qiaoshan’s personal information has not been disclosed, but the mysterious person named Chan has become a hot topic in the Hong Kong financial industry recently.

In Hong Kong, gossip rumors about Chen Qiaoshan will occasionally appear with news of a plummeting crude oil. As long as he is willing to be as high-profile as the female stock god surnamed Liu, he will definitely be famous in Xiangjiang as soon as possible.

This is naturally not something that Elliott can hide from. He has already informed Chen Qiaoshan, but it is obvious that Chen Qiaoshan doesn't care much about it.

Unlike other speculators, he is aware of the general trend of crude oil. In the next two years, crude oil investment will rank first in the yield rate of various types of assets. If nothing unexpected happens, after this round of fluctuations, international crude oil will enter a long period of rising.

Elliot couldn't figure out Chen Qiaoshan's thoughts, and he didn't think too much, and asked directly: "Boss, do you think I'm qualified to laugh at a new billionaire?"

These days, five million US dollars is enough to realize financial freedom, let alone a huge amount of 50 to 60 million.

Chen Qiaoshan smiled and did not continue to pester the topic. He asked, "Why did you come suddenly?"

Elliot said: "Cecil and Lu both suggested closing the position. They did not receive your reply email and the phone could not be reached. I had to come over."

Although it is the foreign market of the ECN electronic platform, in Asia, the trading time is still comparable to New York. Now it has entered winter time, with a thirteen-hour time difference from New York. It opens in the middle of the night every day. Even if you can trade staggeredly, Asia has almost no pricing power, and the big market is focused on the European and American markets. Unless you are a full-time trader, the iron man will not be able to withstand it.

Of course, Chen Qiaoshan couldn't watch the market in person every day. He had a lot of things to do and needed normal rest time.

He knew that the consolidation would not end before this weekend, so he slept with peace of mind, but unexpectedly he wanted to attract Elliot.

Chen Qiaoshan didn't have much psychological burden. Not to mention traveling, he even saw Tianjin and Hong Kong flying, which was normal for Elliot. "I just read the report and went by phone with Cecil and agreed to their plan."

The consolidation will last for two or three days before the conclusion will be found. The lowest interval price should be able to break through US$46. Although it is related to the profits of more than a dozen points, Chen Qiaoshan no longer sees it.

Elliott didn't expect it to be so smooth today. He couldn't help but regret it. If he had known this was the case, why would he have gone this time?

After all, Chen Qiaoshan is still making trouble by not following common sense. Among the taboos summarized by investment psychology, treating the financial market as a casino is one of the taboos.

Elliot felt that Chen Qiaoshan was too speculative. Rather than saying that he was judging the right trend, he was gambled on the right trend. It would be possible once or twice. Over time, luck would eventually be exhausted.

Those who drowned will all be watery, and this sentence still applies to the financial market.

Fundamentally speaking, futures are not a huge profit industry. Rapid profits and losses do exist, but the difficulty lies in stable profits. Most speculators can be proud for a while, but they will never escape the end of being blood-scrapped by the market.

Elliot was a little surprised. Why did Chen Qiaoshan lose his usual persistence and become much easier to speak? This made him suddenly lose his place to speak.

But now is not the time to think about this. Once you choose to close your position, Chen Qiaoshan will have a large amount of funds to be recorded. I think it is impossible to invest this money in the futures market at one time. As Chen Qiaoshan’s private financial advisor, this is the question Elliot is most concerned about, "Chen, what plans do you have next?"

Not only is it a funding issue, Cecil and Lu Zhaolin cannot help Chen Qiaoshan manage the trading indefinitely.

If you go through UBS channels, you must use UBS as a middleman. Unlike the ECN platform, UBS is a market maker, and many variables have been added to the middle. The former is online transaction, and the price depends on the real market price, while the latter depends on the reputation of the dealer.

Chen Qiaoshan is not worried about being cheated, but if he uses UBS's channel, the strike price is actually decided by the market maker. The trading order will first be the market maker to hedge the long and short positions, and the remaining net positions will be hedged to the bank or ECN.

This obviously has risks, because once the market fluctuates significantly, one party will always choose to close the position. In order to make up for the losses, market makers will obviously passively close the position of the opponent, or temporarily hedge it on the ECN platform, which not only increases transaction costs, but also greatly limits the rate of return.

What's more, some market makers simply don't hedge their net positions, and this kind of order is a bet.

Under this model, when the market fluctuates violently, market makers need to bear huge risks. If the amount of funds is huge, they often have many bullshit things.

For example, when there are huge losses, market makers may restrict customers from placing orders and then blame the problem on network delays or system failures. This situation is very common in domestic market trading.

So far, many internal crude oil or precious metal transactions have been irregular, and some of them are simply liars.

Such as placing orders at slippery points, forced liquidation, delayed trading, backend modification of trends and real-time prices, and deposit and withdrawal control... All kinds of flirting operations make investors unable to defend themselves, but they can't help but often make them lose all their money.

Spot silver was even on CCTV 315's anti-counterfeiting list, but this was only the tip of the iceberg. Similar illegal crude oil futures platforms, spot gold and silver, binary options, and fake stock index futures emerged one after another, causing heavy losses to a large number of investors.

Chen Qiaoshan is not worried that UBS will cheat him, but for risk and cost considerations, it is definitely not as safe as the ECN platform. This is also the reason why he chose to hire someone to do private orders in the first time.

In this situation, there is no room for too much choice.

"Eliot, after closing the position, all funds will be withdrawn, and 10 million US dollars will be reserved, and the rest will be transferred to UBS's personal account."

Hearing this, Elliot smiled like a chrysanthemum, "No problem, I will do it as soon as possible."

It’s not his fault. Who would have thought that in less than half a year, he helped his client earn more than 60 million US dollars. Just one commission made Elliot feel excited.

As for how this money was made and how much credit was made, Elliott was not interested in thinking about it. In any case, as long as he grasped Chen Qiaoshan, a high-quality customer, his goal would be achieved.

Thank you for your support. After ten days of updates, your health has basically been fine. Today, the update will be resumed.
Chapter completed!