China Grain Reserve Management Group Co., Ltd. (hereinafter referred to as China Grain Reserve), China Aviation Oil (Singapore) Co., Ltd. (hereinafter referred to as China Aviation Oil) and Sumitomo Family, the third largest chaebol group in Japan. .....
What is the relationship between these three companies?
Answer: Everyone tried to control the market, resulting in huge losses, and even dragged down the company and closed down directly.
These institutions are remembered by people in the futures market, and if nothing else, it is because they tried to manipulate the market and ended up losing money and withdrawing from the market.
Liu, a grain trader in China, lost 920 million yuan (official data). In 2003, the big bull market of copper futures has not yet begun. Prior to this, the copper price of Liu rose from 1000 to 3,000 dollars, which really brought a lot of profits to the State Reserve. When the international copper price reached a new high of $3,000, Liu was uncharacteristically determined to short. He was once discouraged from giving up short selling, but he has always been firm.
On June 5438+ 10, 2004, after the copper price plummeted 10% one day, Liu decided to give up his last shot and sold a lot of call options, but the international copper price did not climb as he hoped, and directly exceeded $4,000/ton. At this time, Liu zai's book loss has reached 606 million US dollars.
After that, he left a suicide note that Liu was missing. From June 5, 2005 to 10, Liu was arrested in Yunnan and sentenced to 7 years' imprisonment.
The reason why CAO made a huge loss from a potential loss of $5.8 million to a loss of $550 million was that it sold a large number of call options in the second half of 2003 when the international oil price was more than $40, and it made initial profits without establishing an effective risk control mechanism. With the rise of oil price, Cao did not stop loss in time, but kept adding margin. In the first quarter of 2004, the book loss of Cao's position was $5.8 million, which increased to $30 million in the second quarter.
In order to avoid actual losses in the accounts, the company decided to postpone the delivery date to 2005 and 2006, and then increased investment, hoping that there would be a turnaround when oil prices fell. In the end, when the oil price climbed to $55.67 per barrel, there was no financial support, so we had to "rush positions".
Mr. Tong lost 4 billion Sumitomo family in London and became the third largest financial chaebol in Japan. 1In June, 1996, Binzhongnan, the chief trader of the Nonferrous Metals Trading Department, ended this family that passed on 16 generations and faded out of Japan's wealth history.
Mr. Hamada's mistake is to use the company's name to buy a large number of copper futures contracts in private accounts, which is undoubtedly profitable when copper prices rise. Mr. Hamada is secretly pleased with this. However, since 1995, the international copper price has been falling again and again, from $3,075 per ton to below $2,600 at the beginning of 1996.
The continuous decline in copper prices not only exhausted the profits of the bulls in Binzhong Tainan, but also caused the Sumitomo Trading Company to lose as much as $4 billion.
The answer is definitely yes, there are many every year, but some are familiar to us and some are unknown to us.
Before answering the question of how bankers are buried, I think it is necessary to discuss what bankers are!
In the futures market, due to the restriction of positions and the intervention of supervision, there is no absolute banker who can hold more than 60% or even higher positions in the stock market in the traditional sense. There are only some main players with relatively large funds and positions. Therefore, it is obviously inappropriate to refer to the main investors in the futures market as bookmakers.
In the same futures product, there will be large and small players with large amounts of funds, and their purposes are also different. Some are hedging, some are basis differences, and some are pure speculation. Therefore, the main futures players are just like the national melee during the Warring States period, and no one dares to stand up and say that they can control the ups and downs.
In this case, when different main players trade, there will always be one side on the bullish side and the other side on the bearish side. Another force that cannot be ignored is the vast number of small and medium-sized investors. Therefore, when trading, excellent main players will use their strength to use "potential" and even build momentum. When driving the development of the market, the main force will make a big impact on some key points and guide the market to work together to complete one breakthrough after another. When the environmental conditions are unfavorable, the wise main force will choose to hide its strength and bide its time. If the weather changes suddenly, the wise main force will even run away or even backhand without hesitation.
So the main force is not omnipotent. At the end of a trend market, some main players will make a profit, and there must be other main players who will lose money or even explode!
Let me give some examples of bookmakers or main players being buried.
Example 1 Bankers in the traditional stock market were buried (Delong system was destroyed)-Southern Building Materials (now called Zheshang Zhongtuo) and Hunan Torch.
At that time, the stock market was basically dominated by a single market, and the dealers had a lot of trading space. If unknown external funds are found, traders can set several stop-loss points for you to cut the meat. But even so, bankers are not omnipotent. Due to the bad environment, the market is light, and most retail investors leave. Because the banker is the money for mortgage financing, he must stand firm on price support. As a result, every time he supports the market, a group of retail investors run away, and the positions of bookmakers are getting bigger and bigger, and retail investors are walking less and less, eventually forming a dead village. The trend of death village is characterized by very light trading and prickly K-line, which is extremely unnatural. In order to save themselves, the banker created some situations (news, stock reviews, recommendations, etc.) by using the external environment. ), and continuously pull up the dish to attract attention. When it was pulled up for the last time, the banker suddenly changed his face and pressed his backhand to the limit, but he never closed his position. After that, it continued to fall, and it fell every day when it opened, that is, it didn't stop falling, giving people the hope that anyone could buy it, and it had already been quilted before it reacted. After that, a long shadow line was given at the support level of 1, which once again gave people hope, attracted bargain hunters and short positions, directly depressed the price the next day, without giving people a chance to come out, and then kept depressing the price to an oversold price. At this time, an amazing scene appeared. The dealer instantly pulled the price to the daily limit but did not close it (the two places released huge trading volume), attracting a large influx of buying (at this time, a large number of followers poured in to make up the position). The dealer took the opportunity to cash out, and when the goods were almost ready, the daily limit closed. The next day, whatever the price, the remaining goods in hand were sold as much as possible, eventually forming a limit. After that, hang the limit continuously and complete the remaining positions (the limit at this time is already empty). This battle is a classic banker's self-help war. However, another Hunan torch of Delong Department failed and went out of business directly.
Example 2 Futures Celebrity Xiaoyao Liu Qiang-Stock Index Futures IF
As we all know, 15 leverage bull comes and goes in a hurry. At that time, Mr. Liu, the helm of private equity funds, did not expect the trend to reverse so quickly. In the picture, a heavy long position will lead to a short position in just a few trading days.
Example 3 Futures tycoon Fu Xiaojun
Finally, it ends with a poem: How many heroes were there in those days, so they stayed in the West?
By walking out of the dead sea
I compiled some examples. These were futures traders who were active in some online forums at that time, and some of them were very influential futures traders at that time. Let's take a look at some things that happened later, hoping to bring us thinking and inspiration.
In 2008, Shanghai Combat Team 0 1 "Sugar King" changed from a heavy position of polysaccharide 3,800 to a stop loss of polysaccharide 3,279, but it was sweating all over because of nothing. He is afraid of seeing sugar, talks about sweetness and swears not to touch sugar. I run naked on the road when I touch sugar.
Sadly, this is all caused by futures.
02 and Grandpa-self-proclaimed "Corn Wang Zhongwang" 90 1 Corn has been doing more in Man Cang since 2040, adding five times the deposit. Stop loss has been at 1708, just stop loss immediately rebounded, and I was so angry that I lay in bed for three days. Since then, I have never dared to cook corn again. I just watched the corn rise every day.
Another national first-class talent was fooled by futures.
Known as the "master of futures fundamentals", Wu Fafa has traveled all over the country, from soybeans to wheat, from corn to cotton, and from copper to zinc. However, fundamental research is useless in Toya, because sometimes the market is irrational. At the beginning of 2008, when he analyzed the fundamentals, he thought that the increase of soybean oil was too large, so he put a heavy position 1000.
I lost my shorts, and now I'm wandering in another country, and I haven't heard from you.
A month later, soybean oil plummeted all the way to a minimum of around 5900.
Long line is Kim's first figure. Shouting when I am in office-as long as I have a hand of corn, I can have the whole world. In July, 2008, the corn contract price 1980 was the highest, and a deposit of 13 was added with my own salary, until February, 2008 1438.
After watching the corn rise higher and higher.
There is no money in the firm offer, only the mouth plate is long, and now even the mouth plate can't be called out. Sorrow grows gold, and pain grows gold.
50,000 to 1 10,000-a real futures geek with a copper spoon in his mouth, winning 50,000 a day is a common occurrence, and he also won the gold goal-5. 1 10,000 a year110,000, and arrogantly claimed that he found the real profit of futures from the lightning diagram, so he went in and out of Man Cang every day.
However, due to the failure in fund management, Xiao Wu Man Cang's operation was sometimes good and sometimes bad in the ups and downs of the copper market.
I never heard from him again.
How arrogant it is to claim that "I have made more varieties, and this variety can only go up", but judging from his experience in the futures market for more than ten years, he does have some skills. At the end of 2007, he also participated in the vigorous soybean rally, and his easy-to-get wealth made him feel high. March, 2008 14, he thought that the soybean callback was in place, so he chased more at a high price of 4500.
After four consecutive crashes, the efforts of the futures prince for more than ten years were destroyed.
Since then, this futures cow has slowly transformed into a stock market, and it is still dominated by stock trading.
On the earth-although he is not a senior national treasure, He Xun posted "I simply don't understand why many people lose money". Now He Xun is a household name, and his most special thing is to develop a set of "ghost operation method", which has brought him rich returns for a while, so he is curious about why others will lose money. . Infinite self-confidence has brought long-term regret to the spiritual king. In September 2008, he made multi-day glue in a heavy position at a price of 2 1000.
I accidentally spent two nights, and there were two big drops, but Wang Ling's confidence can still rise. Later, when the financial crisis broke out, there was a five-day daily limit, which put him back to his original shape and never touched futures again.
Back to the working class.
08 Futures Nervousness-a national treasure veteran in the futures industry, claiming that 500 yuan made a fortune speculating mung bean futures in the 1990s. From then on, he believed that a fire brigade might as well pee. Later, Shanghai copper rose sharply, and the "national treasure of futures" came all the way. Dream of creating the second mung bean miracle. In June 2006, the price of 84,000 Mount Everest in Shanghai Copper was still bullish. Traveling in Qingdao. A week later, the futures company had 300 calls asking for the destruction of the deposit.
At this time, if the "national treasure of futures" can't get up on the beach chair, those eyes staring blankly at the sea have already acquired the true colors of perverts.
Greed hurts. Future generations should quit, and future generations should also quit.
09 Hehe 888—— Although it is an old stock and a new era, its influence on He Xun is unprecedented. After it, there is no one who "regrets and kills his opponent with faith". It is the heart of life. And threatened that my favorite place is the place to collect money, with foreign masters Buffett and Soros as godfathers. I believe that the 38-year-old Daniel will start to spend a long time on the sky-high prices of corn, soybeans, wheat, cotton, sugar and other agricultural products.
Fooled a lot of novices, lost a lot of followers, and made the whole news complain and wake up.
He was scolded alive by a group of little people and never disappeared.
10 Laocheng-a native of Bozhou, Anhui Province, was also hundreds of thousands when he entered the market. After more than two months' pay, they became brokers. In order to develop the landlady into a customer, they adopted the method of using the landlady to develop a relationship first and then pulling her as a customer. The landlady invested 50 thousand, and later he lost all.
More than a dozen clients are women. He really has this ability!
Later, Lao Cheng left the market. When we met online last year, he said he was pulling a tricycle.
1 1 If you do futures, Xiao Qingxin-the first-class chef of Shanghai Jinmao Building at the end of last century. Later, when I came into contact with futures, I felt that frying small dishes was not as good as frying futures. I got my monthly salary and entered the futures market. With the level of mixed oil, salt, paddle and vinegar, he rolled in and out carefully, and the snowball rolled bigger and bigger. What followed was boldness and greed, but fortunately, the "king of cooking" was a good man, and God blessed him. He always gains a lot by attacking in the short and medium term.
Directly guide the careful frying method of mixing oil, salt, paddle and vinegar. I have been doing more soybeans and sugar, adding more positions after falling, and adding more positions after falling, watching a lot of RMB continuously sent to the futures exchange.
Up to now, even one month's salary when entering futures has been spent in ashes, and everything has been silent, and the dream has finally come true.
Jinmao Tower reappears as a first-class speculator-a master of cooking.
12 Meng Haoran knew from his name that this man has the temperament of a poet, but in fact he just graduated from a technical secondary school and worked as a clerk in a quick-frozen food factory.
He was dragged to the market by his friends. After listening to two classes, he became addicted. He invested 50 thousand yuan and entrusted his agent to do it for him. The agent paid him more than 4000 yuan. He was very angry and called the agent incompetent, so he resigned and did it himself. He has a soft spot for RSI indicators. He earned 7000 yuan a day when he was most proud. He devoted himself wholeheartedly to short-term speculation. He calls himself a short-term ranger, with large and small funds.
He broke the warehouse twice, and the third time he invested a maximum of 654.38+ten thousand yuan, all of which were borrowed from relatives and friends. His most famous sentence among us is: "This market can't live without me"!
However, when he was running out of money, he "woke up" and told us: "Futures can't be short-term"!
He reluctantly left the futures market.
13 Yun Conglong began to empty cotton from 18500, until it was empty until 30000.
I lost all my cash and sold a middle house to increase my savings.
The futures dream is over.
From the endings of these people, it is easy for us to realize several reasons:
First, you can't operate against the trend. In a raging bull market or a raging bear market, if you think you have peaked or bottomed out, you are dead, just like the varieties of iron ore, rubber and thread that have been falling in a certain year. You must wait until the end of the bow and arrow, when the potential is exhausted and there is a turning point, you can do it.
Second, if you don't stop loss, going against the trend is not terrible. The terrible thing is that if you don't stop against the trend and find a bargain in a bull market or a bear market, you won't admit your mistake, or you will lose your eyes and simply become an ostrich, and you will die.
Third, heavy positions. For futures, timing is very important because of leverage. If there is a heavy position, up and down 10% will basically explode, and up and down 10% is too normal, so when the market operates as you expect, you will be dead. Therefore, for those who are not sure about the timing, light warehouse is a way.
Fourth, I think the most important thing is modesty, awe of the market, low-key and humble attitude, and not too ostentatious. These people all died because they were tall, conceited, made a lot of money and were complacent. They think they have mastered the world, those who follow me prosper, those who oppose me perish, and the result is their own demise.
Finally, I want to say: apart from hard work, the reason why I can survive in futures for more than ten years is because I have always maintained an awe-inspiring heart, and I have been walking on thin ice. I am very scared, and I have always maintained psychological awe no matter how much money I won.
When you have this mentality, you will find that many trading problems you encounter, such as heavy positions, day trading, no stop loss, no effort, gambling, etc., will naturally disappear.
The truth is the truth. It seems that everyone knows, but from the results, you can see who is the "bastard".
It's not enough just to know.
Many years ago, Zhejiang Fund fought against state-owned enterprise funds.
Of course, the most typical example is the recent glass 2 10 1 contract, when the upward trend has not changed. The time point is 8. 1 1-8.20, 8.3 1-9.2. When the delivery month is about to enter in 2009, the bears made two sets, seized the opportunity to trap the main bulls of Laozi and Zhuangzi in the high position, which led to the disintegration of the multi-headed United front of Laozi and Zhuangzi, and finally formed a multi-headed killing, and a large number of short positions entered the market, and the short seats would sit.
In the futures history of China, there was a period of "Futures Warring States" in which many exchanges grew together.
At that time, many varieties in the futures market were in trouble. And many of those troubles are caused by the attack and reduction of mutual funds.
The most famous is the "327 National Debt Incident". Of course, we know that Guan Jinsheng was buried by mistake.
In addition, there are Tianjin adzuki bean, Hainan coffee and Zhengzhou mung bean. In these cases, there are bankers' figures and bankers' extension figures.
As long as depositors have huge positions or funds, they can also be defined as bankers. However, today's futures market has a huge turnover. If the dealer makes a mistake, it will also pay a huge price. As for the example that the banker was buried by mistake, I can't remember it yet. I'll add it when I remember.
Let me start with a famous silver futures case in a beautiful country. The manipulator is the Hunter brothers. Their Hunter family is very famous. They made a lot of money from oil and horse racing, and then entered the futures industry. Because in the late 1970s, the price of silver was very low, only about two dollars, so they started to buy more. Later, they contacted Saudi Arabia. They controlled the silver futures market, and the price rose all the way, achieving a ten-year rise. The American government had to intervene, but the two brothers thought they could go against the trend and keep going up. When reading the article, I can't figure out what price the two brothers want to close their positions and make a profit.
Due to the government's intervention and negotiation, the price of silver is in jeopardy. It is found that the silver rises with the wind and the profit is closed. However, the two brothers still buy against the trend. Even at the stage of borrowing and buying, they still don't stop loss and open positions. But they can no longer support the market. I have to close my position and take out my best assets to fill my deficit. They, family fortune, were also forced to drop a lot on the wealth list and remained silent for a long time.
There is also the 327 national debt futures incident I saw some time ago. They also shorted against the trend, took advantage of the trading loopholes at that time, opened a huge number of empty orders, and then were forced to close their positions, resulting in huge losses.
There are many other events, such as early coffee futures, and several large futures companies jointly set up a business. However, they fought long and short, but the spot hedgers benefited from the firm delivery, and they could only admit defeat. The same is true of rubber futures. Because the futures trading system at that time was not perfect, there were few retail investors, and they were all newly listed products, so it was very easy to play with yourself in the huge money game. Because there are few retail investors, small plates, and the influence of spot, they either manipulate the spot market to force more or empty. In short, those who want to manipulate the market against the general trend have been severely educated by the market.
Nowadays, with the improvement of futures laws and futures trading, it is difficult to see market manipulation. But when it was not perfect in the early days, it was still used by people with ulterior motives. Of course, their fate was punished by the market, and it was not worth the loss. Therefore, please remember, friends, whether it is financial investment or speculation, we must conform to the general trend, enough is enough, know the market clearly, know ourselves clearly, and don't dream of losing our trading career.
Futures can't control the disk like stocks, because the disk of futures can be infinite. If there is a buyer and a seller, there will be a transaction. When it grows to a certain extent, it can be short. Generally, stock speculation is prone to bookmakers, because the number of stocks is limited. You can control the disk. There is no banker for futures, so everyone is a banker. Futures only have trends. Only by following the trend can we make a lot of money. Trying to control futures prices is wishful thinking and overreaching. Once a stock master, Vermore, after several explosions and several rises, finally shot himself. And Chen Jiulin of Cao.
Is there a banker in the futures market? Personally, there is no banker in the stock market, and at most it is an institution with strong financial strength. And these institutions may not operate better than retail investors. After all, the futures market is a highly globalized market, and no institution can control it.
You can check the methanol warehouse accident that year. If the hedging fails, the third board will be crushed to death. Owe the futures company a deposit. [Laugh] [Laugh] [Laugh] [Laugh] [Laugh] [Laugh]