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- Huge pressure shrouded Hidetoshi Hirano's heart, accumulating to the point that he could no longer bear it.
Just when everyone was focusing on the electronic disk and guessing its reaction, Hideto Hirano stumbled to the edge of the stage, facing his seat, and made a gesture.
The newspaper deliveryman immediately ran over and delivered all the information they had just collected to Hideto Hirano.
Hirano Hideto took it in his hand and read it at a glance.
The content on paper is simple and comprehensive, and basically includes all the latest confirmed news: the reserve judgment of the Aqijiu Oil Field, the production judgment of the Aqijiu Oil Field, and the amount of spot crude oil accumulated by Dahua Industrial. In addition, there are also There is an analysis of crude oil reserves in the Caspian Sea region made earlier by relevant financial research institutions, as well as a judgment on local crude oil production.
This information is difficult for traders to see when bidding prices manually, because the transactions are so frequent and intensive that they are not allowed to read the materials except for important matters. This is not the case for traders who participate in electronic trading, that is, "traders" , sit behind the computer and watch it whenever you want.
Therefore, on-site electronic trading and manual trading seem to be doing the same and similar things, but due to different methods and procedures, they often lead to completely different results.
In some less volatile speculative activities, the trends of electronic trading and manual trading may be exactly opposite.
In speculative activities with greater volatility, the two are more likely to promote each other and produce greater volatility.
Hirano Hidechi¡¯s eyes were filled with golden light.
It seems as if the bleak future has let out all the light.
Hirano Hidechi pinched the collar of the newspaper delivery man and said angrily: "Where is the news from the trading company? Where are the instructions from the trading company?"
"There are no new instructions from the trading company." The newspaper deliveryman is usually the first step to becoming a trader and is considered a person who understands the futures market. At this time, this British-Japanese man can't help but feel sad that the rabbit is dead and the fox is dead.
Superiors are good at shirking responsibility. Under the premise that the situation is irreversible, no one will give Hideto Hirano new instructions.
He was like a commander who was sent to the front line to snipe the enemy. He unexpectedly discovered that the number and firepower of the enemy were far greater than expected, and the friendly forces formed formations to protect themselves and were unwilling to help each other Despite this, retreating would still be punished. , failure to complete the task will still be punished, and excessive losses will still be punished.
A hint of enlightenment arose in Hirano Hidechi's heart, and he slowly loosened the collar of the newspaper delivery boy and said, "I understand, who is operating the electronic disk?"
¡°Kudo Trader.¡±
"Is Kudo Daisuke a junior trader? Where are traders Hase and Hirota?" Although he is also a novice, Hideto Hirano was decentralized from the consortium headquarters and has experience and qualifications in using high amounts of funds. He was promoted to an intermediate trader and had full trading authority. Daisuke Fuji, a junior trader who was promoted locally, was not so lucky. He had to go through at least three thresholds as a newspaper delivery boy, a trainee trader and a junior trader before he could reach the edge of an intermediate trader. Moreover, only Senior traders will only grant him high-amount authorizations if he always demonstrates good performance and ability to stop losses.
In other words, junior trading employee Daisuke Fuji is currently not qualified to use funds independently. All his actions must be executed according to the designs of senior traders.
Sumitomo Trading Co., Ltd. is a super consortium. It has 6 seats on the London International Petroleum Exchange alone, each of which is responsible for two senior traders. Only they can decide Sumitomo Trading Co., Ltd.¡¯s strategy in electronic trading.
The newspaper deliveryman said uncomfortably: "Traders from Changgu and Guangtian are both on the phone in their offices."
"What are you calling at this time" Hirano Hidechi gritted his teeth and cursed, knowing that these two guys would not show up. If it were him, he probably wouldn't show up now.
"Please work hard." The newspaper delivery boy lowered his head, turned around and ran away.
Hirano Hidechi closed his eyes, took a deep breath, and returned to his battlefield.
The opening of electronic trading does not mean the closing of manual trading. By the afternoon, he still had a lot of transactions to do.
Traders swarmed over and raised their trading cards higher than their heads.
Hideto Hirano adopted slow trading as usual, but oil prices fell rapidly at twice the speed just now.
In just 10 minutes, oil prices fell below the $17 mark, a drop of $1.22, close to a 6.7 drop.
For most traders, even if the stop loss line is not reached, it is almost there.
Unlike the crude oil futures market more than 10 years later, the two major oil exchanges in the mid-1990s had significantly slower trading frequency.The transaction amount is also far less than that of the crude oil exchange after electronic trading became mainstream. The fluctuation of around 1.5 US dollars is considered severe. Throughout 1993, the price fluctuation of crude oil rarely exceeded 2 US dollars.
This is coupled with the expected OPEC production cuts, the strong recovery of the U.S. economy, and the maintenance of North Sea oil fields and many other backgrounds.
If Hideto Hirano were an intermediary execution trader, he would still wait and see even if he did not sell short.
But he is not.
He is a proprietary trader who uses the company's own funds to trade. If the oil price collapses, the long positions accumulated in the past few days, plus today's buy order, will probably make the trading company headquarter panic.
Hirano Hideto had no choice but to look up at the Sumitomo seats on the second floor and gritted his teeth and thought: Since you guys are silent, you are asking me to continue buying and see who can't stand it first.
Looking back, Hidetoshi Hirano simply accelerated the payment.
As his proficiency increased, the transaction volume in the artificial pool also increased a lot, and Milton the Vulture was squeezed out, surrounded by traders from all sides who were waiting for food.
As the only active multi-dealer in the manual outcry trading pool, Hideto Hirano can be described as the "mainstay". If not for his resolute actions, the oil price might have slipped to $16. Whether it was out of self-protection or a wait-and-see attitude, Sumitomo's two senior traders did not come forward. The long bet with Pan Asia Fund a few days ago was Hideto Hirano's idea, but they all agreed. In an institution like the exchange, where senior traders are responsible, the price of oil has plummeted in reverse, which is very important to Hideto Hirano. Disaster, also for senior traders.
Hirano Hideto is willing to jump out to block the thunder, but the two of them will not stop it.
However, it is still difficult for Sumitomo Trading Co., Ltd. alone to digest the new news about an oil field with a daily production of 150,000 barrels.
What is sold in the futures market are forward contracts. For example, 9408 is the crude oil contract for delivery in August 1994, 9409 is the crude oil contract for delivery in September 1994, and 9410 is the crude oil contract for delivery in October 1994. Crude oil futures are old. Traders all know that the output of a newly discovered high-yield oil field will definitely increase greatly in two or three months, not to mention that the Aqijiu Oil Field is only one of the unprecedented 11 oil fields released by Azerbaijan. One of them, and Azerbaijan is one of the countries in the Caspian Sea oil-rich area.
The associations brought about by this cannot be resolved without tens of billions of funds.
Although Sumitomo Trading Company can get this money, Hideto Hirano¡¯s authority is only 2 billion US dollars.
??This 2 billion US dollars was also used by him without permission. He would have to make a list after the end.
?????????????????????????????????????????????????????????????????OUT out of 77% of his ammunition was consumed by just this resistance, and Hidetomo Hirano had to pretend to be unpredictable.
At 11:45, Hidetoshi Hirano breathed a sigh of relief, and the transactions in the trading pool were suspended for more than ten seconds.
Then, the 9410 contract on the electronic screen dropped by 20 cents.
??In this way, Sumitomo Trading Co., Ltd. suffered an instant book loss of 20 million US dollars.
At the same time, $16.68 also reached the stop loss line of Enron trader Grete.
Stop loss is the life of a trader. Financial firms are willing to tolerate the antics of stressed-out traders. Like ikill, who flies from Paris to London for work every week? Yes, it will be reimbursed according to transportation expenses. Collect beetles like Rockefeller? No problem, any employee who dares to scream will be fired. Fixing clocks like Clemis Spangler? OK, the employee who dislikes the noise puts on his own headphones.
Stop loss alone is a high-voltage line that no financial company allows traders to trample on.
If the level is not high enough, you will lose funds at most. If you don't stop the loss, you will end up with Bahrain Bank lying dead.
Enron trader Grant glanced at the electronic screen at his waist. After confirming the order, he placed his right hand flat, as if cutting his throat, and made two gestures under his neck.
This means "closing a position".
Grant looked apologetic and shook his head at Hideto Hirano. He did not sell the contract on hand above the stop loss line, which was already the biggest support. The company's upper management was unwilling to lower the stop loss line, so he could only make the decision to close the position.
A second later, Hidetoshi Hirano realized that Enron had withdrawn from multiple parties, and his eyes suddenly turned red.
Enron holds at least US$300 million in crude oil contracts and selling them in one go would have a fatal impact on the market.
The most important thing is that there is no one to take over now, and Hideto Hirano is almost the only active bull left in the market.
Occasionally, one or two sales traders place orders for customers, but their number is not enough to swallow hundreds of millions of dollars in contracts.
? ?The curves on the sub-screen fluctuated one after another from 9411 to 9408, especially the 9410 contract, which plunged directly to 16.12.
It was impossible for Hideto Hirano to let the oil price drop by $16, so he held his nose and took over. In this round of trading, the oil price actually rose slightly, returning to the price of 16.34.
However, Hidetoshi Hirano¡¯s funds are about to run out.
Hirano Hidetomo raised his head again and looked at the second floor. He was extremely hopeful that the price of 16.34 per barrel was all the funds needed to digest the Aqijiu Oil Field.
Hirano Hideto closed his eyes as if praying.
When he opened it again, he saw Milton, a tall, bald European, smiling like a vulture.
¡°This is how Milton the Vulture came to be.¡± Hidetomo Hirano groaned, but no one could hear him in the noisy trading pool.
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