Interesting and Humour - page 2738
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And may the GEP come down on Monday :-))))))))))))))))))
TR at +8% deposit level
I wonder - how much will the "broker" close on Monday :-)))
# Stop politics
A Japanese trader who doesn't read financial news has made $34m in just 24 hours.
An anonymous Japanese trader, working under the nickname CIS, made around $34 million overnight on the collapse of Asian stock markets, Siliconrus writes.
The trader does not read financial news, but works according to his own methodology, based on analysis of exchange rates, plus trusts his own intuition.
Back on 12 August 2015, CIS noticed an unusual dynamic, a trend in the Japanese stock market: the market had not recovered from the previous session's sell-off in securities and contracts. The result was that the stock market index began to fall.
The trader decided to sell 200 short futures contracts at once, and sold a further 1300 short futures contracts the following week. CIS did not read any financial news, and did not analyse the impact of the situation in China or oil prices on trading, but followed the only rule - sell everything that others are also selling.
Once the volume of short futures sold by other stockbrokers was exceeded, CIS started selling its own futures as well. Note that the term "short futures" refers to the expectation of profit if the value of the contract declines. The profit in such trades is conditional upon selling the contract at the current, high price and buying the same contract at a lower price. The risks involved in "short futures" are high, but the profits can also be very high.
On 21 August 2015, the NIkkei exchange continued to show a decline and CIS continued to trade. This time the trader did not buy and sell futures but went against the trend. As soon as panic broke out on the exchange, CIS started buying contracts at the minimum price.
At the end of just one day CIS was able to earn about $34 million. However, the preparation for this day took about two weeks. To prove the validity of his words CIS showed Bloomberg copies of its transactions for the aforementioned period of time.