What the traders are shouting out are the real-time exchange rate quotes of the Thai baht in the London parallel currency market, because the largest spot market (London foreign exchange market) has ended trading, and real-time quotes can only be seen in currency markets in London, New York and other places that are still in trading hours.
Although some commercial banks also traded Thai baht during this period, their quotations could not be compared with futures contracts in the currency market. Most traders took the real-time quotations of futures as the basis.
The exchange rate of Thai baht/US dollar has remained at 25 baht to 1 US dollar all year round. Although the Bank of Thailand has stipulated a floating range of 4% of the upper and lower range, that is, 26 to 24 baht to one US dollar is an acceptable range. However, due to the fierce increase in short positions, this range is approaching the critical point stipulated by the Bank of Thailand.
Xie Yuying looked at the rapidly flashing quotes on the screen, somewhat incredulous, "It was broken just like that?"
In recent weeks, the Thai government has repeatedly stated that they have tens of billions of dollars in foreign exchange reserves and will definitely protect the status of the Thai baht, but at this time the Thai baht is clearly on the verge of floating.
"The best is yet to come."
Zhao Shixian glanced at another screen, which showed data from the New York market. Although a red line appeared in the Thai baht quotation, clearly below the 26 baht mark, the downward trend slowed down and was showing signs of rising again.
After taking a sip of black coffee, Zhao Shixian said calmly: "There is no negative news in the market that supports Thailand's abandonment of the fixed exchange rate. All the news is positive that Thailand is doing its best to protect the exchange rate. The bulls will fight back and will not give up so quickly."
Zhao Shixian said this, pointing to the positive line that suddenly appeared on the screen.
"President, what should we do?" asked a trader with a cigar in his mouth.
Zhao Shixian shook his head slightly and said in a deep voice: "Elba, it's not the right time yet. Wait and see. Attacking a country's currency is not an easy task. I believe the bears will soon release bad news, and Thailand will also make a big move."
Zhao Shixian's guess was correct. The positive line just drawn was caused by the Bank of Thailand. At this moment, in the trading hall of the Bank of Thailand, the traders responsible for the European and American markets were nervously accepting the sell orders one by one. After a while, when the Thai baht was about to fall below 26, they collectively took action and used a large amount of funds to raise the price and temporarily stabilize the Thai baht.
When it comes to the amount of US dollars in hand, no institution that trades foreign exchange can be compared with a country's central bank. The central banks of various countries are the main force of currency contracts in the money market. Once they make a move, they will sweep away thousands of troops like a whirlwind, and all the evil spirits will be exposed.
The trading volume of Thai baht contracts in the London International Financial Futures and Options Exchange (LIFFE) and the Chicago Mercantile Exchange International Monetary Market (IMM) is not large, and the combined "target amount" of the two is less than that of the Lijiapo International Financial Exchange (SIMEX).
This is certainly due to the fact that European and American investors have little interest in emerging markets, but it also shows the huge influence of SIMEX in the Asian currency market.
However, the current situation is somewhat different. Although the trading volume in the European and American markets has not yet caught up with SIMEX, if the Thai baht is quoted at a low price in LIFFE and IMM, and a different price appears on SIMEX, arbitrageurs will have a clue to follow and arbitrage between markets, eventually bringing prices to the same level.
The main force selling Thai baht in the market now is international hot money, which controls the trend of Thai baht to a certain extent. Therefore, even though the Thai baht trading volume of SIMEX far exceeds that of the other two places, the general view in the market is that the real-time quotes of LIFFE and IMM can reflect the true trend of Thai baht.
Investors in the market now generally want to know at what price the international hot money that has borrowed a large amount of Thai baht will use to defeat the Bank of Thailand. This price will appear in LIFFE and IMM at the first time. After knowing the price, they will know what to do next.
However, they were destined to be disappointed. On that day, the two sides only had tentative contact and then stopped. Due to the strong statement issued by the Thai government and the intervention of the Bank of Thailand, international hot money failed to further suppress the Thai baht, but only closed its positions after making some profits.
Seeing that the market was becoming stable again, Zhao Shixian left the trading room. The average price of the Thai baht forward position established by PY was at 25.22, and it was still profitable on the books. The amount was not large, only about US$700 million. Most of the funds were in the over-the-counter forward counterparties for foreign exchange hedging, and the time was about one year. There was no problem with the position for the time being.
Moreover, PY Securities has sufficient funds and can adjust its positions at any time.
…
Nan Yi just sat for a while at Lao Pao BBQ. After learning that the Monkey King had already made arrangements to deal with the Black Snake Sect and that the Black Snake Sect had not bothered him recently, he quickly left the Gary Peak Cave.
He was not interested in this area, nor did he want to deliberately run into a few blind people to show off his power. There was no need to stay in such a place that could easily cause trouble.
But sometimes, even if you don't want to cause trouble, things will come to you automatically.
The street where Lao Pao BBQ is located is crowded with restaurants and there are also many stalls selling snacks on the roadside, so cars can't get in at all.
Nan Yi and his group walked out of the "Food Street" and came to a U-shaped intersection. As they were turning, a man holding a switchblade rushed up from the right side of the road. The switchblade was a straight switchblade that could be retracted into the handle, not a foldable one. There were blood stains on the blade and on the chest, in the shape of a rag dragging it.
There were five other men chasing after the man, all holding either steel pipes or wooden sticks. No, they were pickaxe handles, with the iron head removed and only the long wooden handle left.
The pickaxe handle is heavy at one end and light at the other, thick at one end and thin at the other, and can easily break ribs when swung.
When the tiger cubs' hands reached for the armpits or waist, a picture popped up in Nan Yi's mind: the man in front of him hooked his left hand around the victim's neck, and stabbed the victim's stomach several times with a switchblade in his right hand. The victim's spleen was pierced, and he was bleeding profusely in his abdomen. When he fell powerlessly, the bleeding wound rubbed against the man's chest.
Nan Yi once heard Dagang mention that the gangsters in Northeast China like to use this kind of switchblade. Moreover, they are in the Gary Peak Cave. The man in front of him is most likely from China, and the one chasing him is more likely to be him. Dagang has also mentioned a pickaxe handle, which is more directional than a switchblade.
Nan Yi didn't have time to reason slowly, as seven or eight people from Zuo Heng also rushed over. They looked like accomplices of the switchblade man. Nan Yi and his group became trapped and were about to be caught in the crossfire.
"What bad luck."
Nan Yi complained and quickly retreated with the tiger cubs who had already taken out their batons.
South Korea has strict control over gun ownership. In many cases, police officers are not allowed to carry guns when investigating cases, not to mention security companies. Only under relatively strict conditions can they apply to own a few long guns such as shotguns. It is almost impossible to own short guns.
So in theory, Nan Yi and his group did not bring guns into South Korea, and in fact, they don’t have guns on them now.
“Ah~”
"Siba——"
"Fuck them!"
Just as they retreated two meters, the two gangs shouted charge slogans, changed from walking to running, and raised the weapons in their hands.
They quickened their speed and retreated three meters cautiously. The wind and pipes of the two gangs met each other. A dull sound was heard, including the sound of breaking wind, the sound of pipes colliding, as well as shouting and groaning.
The people who came out from the left probably didn't have enough brains to understand that Nan Yi and his group were just innocent. Three of them didn't rush towards the group led by the right, but instead rushed towards Nan Yi and his group.
"A celestial being."
The tiger cub shouted, and the celestial beings and others protected Nan Yi and continued to retreat. The tiger cub took the other two to meet the three people who were pursuing them.
They have different foundations, one gang comes from the battlefield and practices how to kill the enemy quickly, the other gang is formed in the streets and alleys and practices the ruthlessness that can scare ordinary people; they maintain different styles, one gang must always be alert to face the worst situations and usually pay attention to maintaining their physical fitness and skills, the other gang smokes, drinks heavily, sleeps with girls and has no regular life, their fighting skills are just to swing their turtle fists at will, and they can only rely on the evil spirit condensed in their bodies to scare ordinary people.
So, the three tiger cubs didn't wait for the other party to swing the weapon. One of them swung the baton from bottom to top, hitting the crotch directly; one of them lifted the tripod like a tyrant, missed the top of the head, and swung it on the forehead; one of them swung it from left to right, at a thirty-degree angle, and hit the cheek just below the temple.
KO!
The three of them finished the job and turned around, but they could no longer see Nan Yi and his companions.
At this time, Nan Yi had already used the ultimate fighting move, running as fast as he could, very fast, the soles of his shoes rubbing against the ground quickly, igniting the heroic spirit. Cao Cao, Dai Zong, and Donovan Bailey couldn't help but say in unison: "You bastard , you can really run."
As they were running, the background music praising Nan Yi started playing, "Seize every minute of life and go all out to realize the dream in our hearts. How can we see the rainbow without going through the wind and rain? No one can succeed easily."
More than ten years of unremitting training, regardless of weather conditions, burst out at this moment.
Speed ​​up, Nan Yi and his companions are still speeding up.
At 2 minutes 11 seconds 27, Nan Yi had already gotten into the car. He inserted the key, stepped on the clutch, stepped on the accelerator, and turned the steering wheel, all in one go.
Three cars left, leaving one behind to pick up the three tiger cubs.
Nan Yi waited until his breathing calmed down, took a sip of water and held it in his mouth, held it for a while and spit it out, then took another sip of water and swallowed it.
Two hours later, Nan Yi asked Monkey and found out that the two gangs involved in the fight were the Black Snake Faction and the Black River Dragon Faction. The fight was so fierce that when the police arrived, one of them was dead on the ground and the other was seriously injured and died before the ambulance arrived.
The fight started when members of the Black Snake faction went to the Heijianglong faction's video game store to break into the place and stabbed the person guarding the place to death.
Three people died in one go, and the matter became a big deal.
The monkey’s previous arrangements have also reached the final step of implementation.
In the next few days, Nan Yi did not go out. He stayed in the study prepared for him by Nan Jiajun, browsing the information of Thai and Korean companies. During this time, he also scolded Nan Jiajun once because when he came back, he had a light scent of perfume on his body, which did not seem to be left for a casual occasion.
…
On May 15, Thursday, during the daytime trading hours, international hot money officially launched a fierce attack on the Thai baht from both the futures and spot markets. At the same time, a rumor that caused panic among investors began to emerge in the market - the Thai government was considering expanding the floating range of the Thai baht from the current 4% to 10%.
This rumor is quite deadly. The real situation has occurred in several countries that have experienced currency crises.
The United Kingdom used it, and as a result, the pound was forced to withdraw from the European exchange rate system; France used it, and the franc did not depreciate, but at that time the entire European exchange rate system expanded the fluctuation range of currencies, which meant that the exchange rate system was in name only; Mexico also tried it, and as a result, its foreign exchange reserves were exhausted and it surrendered in just two days.
So far, countries that have expanded their liquidity to cushion the blow have failed.
At such a sensitive juncture, the emergence of such rumors in the market was undoubtedly a heavy blow to the precarious Thai baht. As soon as SIMEX opened, the Thai baht plummeted, breaking through the limit set by the Bank of Thailand in an instant and falling to 26.03.
Once the boundary was broken, market panic intensified. For a time, the market was filled with selling orders, and the Thai baht fell one unit after another. The long side was surprised to find that their leader, the Bank of Thailand, did not intervene.
The Bank of Thailand was completely busy at this time. It was under pressure from the spot market. As soon as the bank opened, calls came in from all over the world asking people to "sell Thai baht at the lower limit set by the Bank of Thailand."
The market has lost its rationality. There have been real cases before, and the rumors have become true. If you don’t sell Thai baht at the lowest price of "26" at this time, once the floating range expands, you will no longer have the opportunity to sell at the current price.
No one is willing to analyze the truth and possibility of rumors. Even if someone is willing to analyze, they cannot resist the power of the general trend. When most people believe in rumors, the truth is no longer important. Only after a few years or decades, when the interested people lose power or pass away, will there be a chance to slowly dispel the rumors.
The righteous sentiment of "Justice will only be late, but will not fail to come, and the truth will eventually be revealed" can be staged again.
Negative news was flying all over the place, hedge funds sent greetings to Bangkok one after another, long-term investors were under great pressure, and with no one from the Thai government speaking out, the panic was further exacerbated.
Thai commercial banks were naturally unwilling to sell US dollars at this price. They had not received any information about expanding the floating range, and the rumors were strong. For safety reasons, they began to call their mother-in-law, the Bank of Thailand.
Zhao Shixian was in his office, looking at the changing numbers on the screen, and said to himself: "The real battle is about to begin."
When the rumor appeared in the market, Zhao Shixian realized that international hot money had taken action. This was a signal for a general mobilization. As expected, as soon as the SIMEX Thai baht contract opened, it was faced with huge selling pressure. The bulls had almost no power to fight back and could only watch the Thai baht fall in confusion.
"President, should we also follow the short selling?" Xie Yuying, who had been standing beside Zhao Shixian, asked for instructions.
Zhao Shixian nodded and said, "Take small steps and throw slowly, and stop when it's enough."
Scarlett Manor.
A trading team was lined up in a straight line, operating on computers in a tense atmosphere. Behind them, Scarlett and Nan Youqiong were standing. Next to Nan Youqiong, his financial mentor was explaining the traders' operations.
Scarlett was not idle. She had a headset on her right ear and a intercom on her left shoulder, and Nan Yi's voice could be heard from time to time.
Nan Ruoyin, Fan Hongdou... Qidian Orphanage are all paying attention to the current Thai baht market. In the future, although most of them will not directly engage in the financial industry, finance is closely related to all industries. They may not understand how to conduct financial operations and arbitrage, but they must understand the general trend of finance.
Seoul.
Nan Yi and Nan Jiajun were in the same room, paying attention to the Thai baht market and chatting about LCD screens from time to time.
The laboratory technology of LCD screens has been mature for more than 20 years, but the progress of industrial production has been slow and the cost has not been able to be reduced. It was only in the past two years that the cost began to come down, the price of LCD notebooks has shown a downward trend, and LCD screens have also begun to enter the monitor market.
Of course, LCD screens at this time are still expensive for ordinary users, and it will take time for them to be popularized on a large scale.
"Dad, there's a girl group that's about to debut. Do you want me to arrange some for you?"
Nan Yi: "I'm not interested. Don't get involved in this kind of activity. If there are too many people, there will be too many mouths. If any important information is leaked, the next step is to kill them. Don't send yourself down the evil path."
“I haven’t participated.”
Nan Yi: "What's the matter with the perfume?"
"My girlfriend's."
Nan Yi: "The kind with a very short shelf life?"
"Two days and five nights."
Nan Yi: "You have learned the bad ones, so learn the good ones as well."
"I will never leave Shangmei and will protect her forever."
Nan Yi: "Tsk, the words are too fancy. I am a rat in the gutter, I can't teach a cat, so don't pretend to be noble in front of me."
"Ah, blood is thicker than water."
Nan Yi: "Nonsense, who knows who gave birth to you? Have you ever looked for it?"
"No."
Nan Yi: "Let's look for it. Going to hell is a foregone conclusion. Let's see if it's from heaven."
"Dad, are we bad guys?"
Nan Yi shrugged, "Who knows, he's not a good person anyway."
"Dad, it's moving."
Nan Jiajun saw the numbers on the LCD screen begin to change.
There was a large amount of selling in the spot market. At the same time, the exchange rate level in the futures market continued to fall. It was hard to say which side influenced the other. Almost all investors realized that this was the second attack on the Thai baht by international hot money after February.
The Bank of Thailand ignored the abnormality in the futures market and focused on dealing with the huge pressure from the spot market. In the trading room of the Bank of Thailand, the phone rang continuously, and the commercial banks collected the quotes for selling the Thai baht.
The Bank of Thailand must control the Thai baht within a prescribed range. Malajanuan and the deputy governor are calling allies such as Li Jiaopo and Xiang Xun. According to the agreement reached before, traders from several regional central banks appeared in the spot market and began to buy Thai baht.
At the same time, other senior executives of the Bank of Thailand called commercial banks and major media outlets to deny that the Thai government had any plans to expand the fluctuation range of the Thai baht, and solemnly stated that it would definitely stabilize the exchange rate of the Thai baht.
However, at this time, the price of Thai baht in the futures market had exceeded the range set by the Bank of Thailand, and the spot market also fell below the "26" limit.
As soon as a quote lower than "26" appears in the spot market, the Bank of Thailand will immediately follow suit and buy it at a price of "26". In fact, it does not need to take action for the time being. The commercial banks that have already taken the reassurance will naturally take action. The commercial banks will buy the Thai baht and then sell it to the Bank of Thailand. They will not suffer any losses.
At noon, with the strong intervention of the "Union of Thailand", the pressure on the spot market suddenly decreased, and the Bank of Thailand was able to pay attention to the situation in the futures market. However, when Malajanuan learned about the real-time quotation, he almost withdrew.
The spot market has managed to maintain the minimum critical value of "26", but the futures market has been beaten to a pulp, with the lowest level having fallen to 26.93.
Malajanuan felt that the Siamese nation had reached its most dangerous time, so he quickly ordered the trading team to raise the transaction price of the Thai baht contract. They must withstand the pressure from the futures market. If the spot/futures markets are not synchronized, futures investors will choose to settle the contract upon maturity, and then sell it at the spot price to earn the difference, which will still put tremendous pressure on the Thai baht.
The trading team smiled silently, how could they not understand the truth? They had been under physical and psychological pressure for a whole morning. They could only drink some stimulating drinks and continue to operate on SIMEX. One unit after another, they struggled to push the Thai baht up into the range, and finally fixed the Thai baht at "26.42" at the moment SIMEX closed.
However, they cannot rest from get off work yet, as London LIFFE and Chicago IMM are still waiting for them to act as messengers of justice.
In one Asian day, Thai banks alone sold more than 5 billion US dollars. Each trader received at least dozens of calls from commercial banks. Thanks to their unremitting efforts, the real-time quotation of the Thai baht did not fall below the prescribed range, otherwise the spot market would have collapsed.
In the futures market, the number of short sellers with target amounts exceeding US$1 billion has increased. This is just the SIMEX market. It is still unknown how much short selling funds will squeeze in from LIFFE and IMM.
Zhao Shixian clapped his hands, "OK, those who play in the Asian market can go to Happy Hour, drink and rest early. Just a reminder, I don't mind you treating the bathroom as a battlefield, but after the battle, remember to clean up the battlefield, shovel, and if anyone throws a raincoat around again, I will kill you."
Zhao Shixian's words caused laughter in the trading room, and the traders stood up and walked out, mocking each other.
During the trading period, the traders' movements are restricted. They cannot leave this floor of the Queen Mother's Heavenly Palace Building, nor can they contact the outside world. Every day, their heartbeats are accelerated and their adrenaline is surging. They need to relax and vent. There are some things that Zhao Shixian can only turn a blind eye to. After all, tomorrow, the day after tomorrow, and almost every day afterwards will be in a state of tension.
The trading team of Nan's Financial System has the highest frequency of physical examinations because the traders are exposed to long-term overload work, excessive fatigue, great mental stress, irregular lifestyles, and high incidence of chronic diseases, which are factors that overdraw health and easily lead to various diseases and sudden death.
At the same time, when recruiting new people, they prefer candidates who like sports and who did not work so hard during their studies. In simple terms, the Nan financial system prefers talented people and regards it as a fallacy that diligence can make up for lack of talent. The top people in an industry must be those with both talent and hard work. It is unlikely that they will create miracles with hard work alone, but they are more likely to receive sudden death compensation.
Of course, candidates who can highlight their father will often receive preferential treatment, have a higher starting point, and receive a special salary channel.
"Abaji, although Thailand and its allies have a lot of US dollars, as soon as the market opens tomorrow, international hot money will definitely attack again, one after another, and no matter how much foreign exchange reserves there are, they will be exhausted. The Bank of Thailand should fight back soon."
"It should be. Let's wait and see what happens tomorrow." Nan Yi stretched lazily. "I haven't eaten the food you cooked yet. You cook it today and let me taste your cooking skills."
"I won't. Men in the Republic of Korea aren't supposed to do housework."
"You little bastard, if you don't know how to do it, then don't do it. How dare you speak so righteously? Have you ever taken a cooking class?"
Qidian Orphanage offers cooking classes, but they are just interest classes and are not compulsory.
"No."
Nan Yi was bored. "Eat sliced ​​noodles. Tell them not to put seaweed and sesame seeds in it."
"Inside."
After dinner, Nan Yi and Nan Jiajun continued to watch the live broadcast of the European and American markets while drinking tea and eating dried fruits. Bian Shangmei also joined in, but she focused half of her attention on trivial matters such as adding water.
Futures contracts in the foreign exchange market are very different from other varieties. This is a circle mainly composed of foreign exchange traders. In this circle, there are active funds, multinational commercial banks, large import and export foreign trade companies and central banks of various countries. Each of them is wealthy and powerful. The threshold for signing contracts is very high, and not every institution or individual can join.
The underlying value of a Japanese yen contract traded on the IMM is approximately 100 million yen, which is equivalent to approximately 1 million U.S. dollars. The foreign exchange market is completely different from the bond market. There is no limit to the floating of free currency, which means that every percentage point of fluctuation represents a profit or loss of tens of thousands of dollars.
In terms of margin, the foreign exchange market does not have exaggeratedly high leverage. Generally speaking, the margin for each contract is at least maintained at around 10%, and buying or selling one contract requires at least hundreds of thousands of dollars in funds.
The threshold is so high that naturally none of the characters active in it are easy to deal with.
During the day's trading, the Bank of Thailand spent hundreds of millions of dollars to bring the SIMEX baht back to normal levels. Despite this, it only pulled the contract back a little, which shows how fierce the short-side offensive was.
The spot market consumed more funds. Adding the two together, the Bank of Thailand mobilized more than 6 billion US dollars. In order to consume Thailand's foreign exchange as quickly as possible, there will undoubtedly be more fierce attacks next.
Thailand could not sit idly by in the face of such a fierce attack. Therefore, as soon as LIFFE opened, the Thai baht contract rose instead of falling, setting a new high in the past month, reaching "25.98".
This price destroyed all the previous efforts of the bears, and the pendulum swung towards the long side again. There was a lot of discussion in the market, and everyone speculated that there would be news coming out from Thailand soon.
Nan Yi picked up the remote control and turned on the TV to watch Peacock TV Chinese Channel.
The financial program "Fu Shuo Finance" is being broadcast on TV, hosted by Nian Lufu and with resident guest Nan Ruoqiong. At this moment, she is seriously analyzing the trend of the Thai baht.
"International hot money, especially hedge funds led by Quantum Fund, have long coveted the Thai baht. As early as January, hedge funds had launched a tentative attack on the Thai baht. Although they did not gain anything, they did gain some insight into the Thai baht.
At this moment, hedge funds have gathered more funds and made a comeback, attempting to destroy the Thai baht in one fell swoop.
The violent shock in the market today was caused by them. They first released false news to cause panic in the market, and then shorted the spot and futures markets at the same time. As the Bank of Thailand needed to take over the Thai baht they sold in the spot market, in order to hedge and keep its foreign exchange reserves full, it had to buy US dollars in the futures market. The Bank of Thailand thus became a double target of attack.
The reason why the Thai baht experienced drastic changes is that hedge funds sold a large amount of Thai baht in the spot market.
Audience friends must be wondering where the Thai baht in the hands of hedge funds comes from. In fact, this question is very easy to explain. They use other currencies or assets in commercial banks as collateral to borrow from banks that have business in Thailand or local commercial banks in Thailand.
This type of lending is mainly short-term. Hedge funds borrow Thai baht and sell it, and then buy it when the baht falls. The difference in exchange rate is their profit...
I analyzed that Thailand will announce that it will defend the Thai baht at all costs and prohibit domestic commercial banks from lending Thai baht to hedge funds. In addition, it will significantly increase the overnight lending rate.
These are the public means, and some unconventional means may be taken in secret. The specific means are just speculation and it is not convenient to say more. "
"Okay, thank you Miss Chunan for your analysis. Next, let's take a look at the Hang Seng Index..."
Nan Ruoqiong did not give examples of the extraordinary measures, but everyone in the industry can roughly guess that it is nothing more than coercing and bribing Thai local commercial banks to provide customer information for forward foreign exchange contracts; threatening or directly attacking the media that publish unfavorable news, and sending police to track down those who publish negative news.
The little girl's words sounded impressive, but in fact they were nothing special. The two measures she mentioned were within the scope of the central bank's three-pronged approach and were applicable everywhere.
Of course, the main audience group of "Fu Shuo Finance" is ordinary investors who have only a vague understanding of finance, have some idle funds, but lack professional knowledge and information sources. For this type of people, what Nan Ruoqiong releases is insider information.
really!
At midnight, that is, in the early morning of May 16, the Bank of Thailand announced to the public: The Thai government will defend the Thai baht at all costs. It has strictly prohibited domestic commercial banks from lending Thai baht to international speculators and significantly increased the overnight lending rate to 1000%.
As soon as this news came out, it greatly boosted the confidence of bulls in the Thai baht in the market. Subsequently, IMM's Thai baht contract also began to rise and gradually returned to the normal fluctuation range.
For the audience of "Fu Shuo Caijing", they have already formed a superficial impression that Nan Ruoqiong is a guest who is young but knowledgeable. With accurate analysis time and time again, Nan Ruoqiong will eventually grow into a financial commentary expert.
This is one of the meanings of the existence of "Fu Shuo Caijing", to create the image of masters like Nian Lufu and Nan Ruoqiong who are always right, and occasionally insert some "correct market conditions" with strong timeliness into the correct remarks. There will definitely be their fans who act according to the plan, and then due to greed, they will ignore timeliness and make themselves the leeks.
There are few people in this world who can trust others 100%. It is human nature to keep something in mind, and the common point among gamblers (retail investors) is that they are afraid of winning but not losing. If they win a little, they will worry about gains and losses and take the money at a low point. However, when they see the market continuing to go up, they feel nervous and cannot help but chase it in at a high point, and then...ah, they are trapped.
I am not afraid of losing. In the beginning, I just want to get my capital back. But after losing a few times, I will become crazy and ruthless. Getting my capital back is no longer the goal. What I want is to get rich quickly, to be financially free, and then... Hello, here is your takeaway. Come down and get it.
Alas, I regret it so much!