Zhang Peng seemed to have noticed a change in the eyes of Yang Hongli and Li Gengxin when they looked at him. Li Yan caught a slight detail change on his face from the side.

The corners of his mouth curled slightly, and then quickly returned to the state of an economist just now.

Li Yan frowned, and listened to Zhang Peng continue to say to Yang Hongli at this time: "You can think of it this way: the income guarantee is much greater than the income when the red and green columns are converted, so when we compare the safety of the buying and selling points, we should also consider the income space. ”

Li Gengxin asked a little blindfolded: "Transaction changes, and transaction changes?"

After saying this, Li Yan found that Li Gengxin glanced back at him, and his expression seemed to be: "This guy seems to be really more reliable than you." ”

Zhang Peng said with a smile: "System trading! It is to trade according to a set of trading systems. In fact, the time and energy of a system trader is mainly focused on the development of a trading system. In the capital market, for systematic traders who adopt trend-based strategies, I might as well design a rough estimate of the elements and their importance of successfully developing a trading system. ”

Wu Zhilin couldn't listen to it anymore. Tilting his head and muttering to Li Yan, "Isn't this what we are going to play......?"

The meaning of these words is obvious, that is, he wants to push Li Yan. Let him talk to Yang Hongli or Li Gengxin about the situation of the trading system. But Li Yan shook his head and smiled. Whispered in response: "You listen to him." ”

10 percent buy points, 5 percent sell points, 10 percent stop loss, 20 percent money management. Forty percent is the understanding of the system, and 15 percent is the insight, adaptation and innovation. With this in mind, managing your money will be easier. These are the very most important elements. Let me put it this way...... In systematic trading, money management is mainly reflected in the following three levels. The first is the position. ”

Yang Hongli nodded and said, "I don't know about these specific operations. ”

Zhang Peng smiled, his eyes flashed with the essence of calculation, and said: "According to the Dow Theory and many statistics of later generations, about 75% of the individual stock trends in a market are highly positively correlated with the broader market. Therefore, it should be a good and stable choice to determine the level of the position according to the risk coefficient of the broader market. The same is true for trading, the same as investing! I'll give you an example, if the current risk factor of the market is 170 percent, then the position should be 30 percent. The shares held by our traders should be low, of course, I also understand that as the CEO of a listed company, the main thing to say is to hold chips. But isn't there something wrong with our Dejuquan? Therefore, we must strictly control the funds and the right to speak. Of course, it is very difficult to judge the risk coefficient of the broader market. ”

"Can't you deduce the risk of the broader market?" Li Gengxin asked anxiously next to him.

"I can deduce, in general, that I have three ways to infer it. One is the method of table scoring, which is to list and assign weights to the various factors that affect the market, design a table, and score daily, and the other is the R28 law, that is, use R28 to compare with the A-share index. ”

"What is R28S?" Bi Peilin asked Li Yan with some curiosity.

Li Yan shrugged his shoulders and said, "I'll tell you later, let's hear what he's going to do first." Zhang Peng's hand was OK at this time, and he shook it up and down and said: "The third one is the simplest, which is the position of the current index in the latest significant operation cycle, and the principle of application is that the material pole proposed by Lao Tzu must be reversed, and the height of the reverse can be taken according to historical statistics!"

Li Yan couldn't help but secretly complained: "Damn, I can really fool." Lao Tzu is coming up!" Although Li Yan complained in his heart, it was undeniable that this Zhang Peng could really fool, and there was really something in his heart.

"When I do private placement, I use a portfolio investment method, that is, when I hold multiple stocks, how much capital is occupied by each stock. The amount of capital accounted for by each stock depends on the judgment of the trading system on the position of each stock. If multiple systems with different strategies are used at the same time, it also depends on the target expected annual rate of return for each system. In addition, whether to change shares when the same system gives a new stock signal is also a problem that the system should take into account! But to you, it is a matter of controlling individual stocks...... I also do the addition and subtraction of share holdings according to the situation. If you're willing to let me do it...... Can you agree to my request? Don't let me reduce your shareholdings, you're settling accounts with me!"

When Zhang Peng spoke, he smiled as if he was joking. But there was no joke in the words at all.

Yang Hongli didn't speak, after all, Dejuquan's shares represent the weight of her words. If the chips are loosened, their shareholding will go down. So what kind of family member should you be?

"Update brother...... What do you think?" Yang Hongli tilted his head and asked Li Gengxin.

After thinking about it, Li Gengxin said in a hum voice: "I don't know much about capital operation, but I know how important shares are to you." ”

After listening to the conversation between the husband and wife, Zhang Peng thought for a while and said: "I used to invest in segments, such as buying and selling the same individual stock in segments. A systematic trader based on a trend-based strategy generally needs to set up multiple buy and sell points. For example, if the system sets three possible buying points, then how much money should be invested in each buying point, which is also the content of money management. Of course, more often than not, this question also falls within the scope of the elements of buying, selling, and stopping. ”

When he said this, Zhang Peng thought about it and looked at Li Yan and the others in the room, and there seemed to be a slight intention in his eyes to let them leave. But he opened his mouth and finally tilted his head at Li Gengxin and continued: "The core is actually mainly the three levels of position, combination, and segmentation. These are intertwined. For example, when it is judged that the risk coefficient of the broader market increases and it is necessary to reduce the position, the combination and segmentation are often affected at the same time. Ideally, the system itself has clear rules for all problems, but this is practically impossible due to the limitations of the software platform. For investors with small and medium-sized funds, they can do it gradually. But let's trade, it's a lot more complicated. ”

"If you don't speak, Yang Hongli will be fooled and stupid!" Wu Zhilin couldn't listen anymore. After muttering a sentence in a low voice to Li Yan, there was a big meaning that if you don't speak, I will speak.

Li Yan sighed and suddenly asked Zhang Peng: "What you said is all in the normal market, if the market is not good, do you think what you said is still effective?"

Zhang Pengleng paused, looked at Li Yan and was silent for a moment, then nodded and said, "Is the market bad now?"

Bi Peilin couldn't help but ask, "Is it good to ask?"

"I don't think there's anything wrong with it, it's just a downward cycle, and if it's done, it can be pulled up!" As soon as Zhang Peng's words fell, Li Yan stood up and walked to Zhang Peng's side and smiled. He said with a smile: "I have noticed that in recent times, due to the large changes in the RMB exchange rate. And there was a certain depreciation. The exchange rate issue is predicted to break through seven. Actually, some of the news I learned is: 7.2-7.4 I personally believe that 7.5 is an important threshold in the short and medium term. Just took a look at the exchange rate against the US dollar. 6.85 damn egg, said that after the countercyclical introduction regulation is pulled up. I also said some more dollars. It's always been a lazy mouth. The perfect embodiment of procrastination. It's just been a few days, and it's coming down again!" Listening to Li Yan's words, Zhang Pengen looked at him noncommittally, as if he hadn't figured out how to talk to Li Yan.

Li Yan continued: "In any case, there are indeed many more people who pay attention to the changes in the RMB exchange rate. A few of my friends have exchanged dollars, and even took $10,000 to the bottom of the box. He said he took 10,000, but the devil knows if it was only 10,000. Some people think that it is necessary to plan ahead. However, some people believe that the RMB exchange rate will fluctuate greatly. For ordinary people who have never used foreign exchange, there should be no impact. Even if there is an impact, it will not be very different, the difference is that some have a greater impact, and some have a smaller impact. Some are direct and some are indirect. This change is slightly different from the past, which used to be a two-way movement, but this time the change is due to the strength of the US dollar and the change in the RMB exchange rate. ”

"What's the point?" Zhang Peng asked.

"The point: the strength of the dollar, please draw a circle and understand it yourself!" Li Yan said with a smile after scolding Zhang Peng: "I won't say it so directly, so straightforwardly." Anyway, it's a change. The pressure on the renminbi to depreciate is gradually increasing. What will happen if the renminbi continues to depreciate? And the depreciation will be relatively large. What kind of impact do you say this will have on our lives? I don't say anything about the rising prices of imported raw materials, which are under pressure on enterprises. ”

After Zhang Peng glanced at Li Yan, he immediately said: "The difficulty of importing raw materials, inventory, and the benefits of enterprises are the problems of the stock market." The impact of the company's employees' earnings and the company's serious losses and stock price declines is indeed relatively large. Moreover, bulk products have increased due to the depreciation of the RMB, and the most important thing is that half of China's crude oil is dependent on imports. The depreciation of the renminbi will greatly increase the cost of imported crude oil, and the recent successive oil prices have risen, because of what? Refined oil is rising and rising~ The price of gasoline has risen, and the price of natural gas will also rise!"

Li Gengxin, who was sitting next to him, muttered in surprise: "There are still so many exquisiteness? By the way, it seems that natural gas has just risen in a wave!"

Li Yan continued to say to Zhang Peng: "These are the aspects of people's livelihood, what is the core problem of returning to the stock market? To put it bluntly, it is bearish! With continuous depreciation, do you hold stocks or exchange them for foreign exchange? Is there an outflow of capital? If there is less money, can the stock price still be promoted?"

asked four questions in a row, and directly couldn't answer Zhang Peng's question.

"I think you should know that recently it has been gradually opening up to foreign investment, so once there is a phenomenon of continuous depreciation of the yuan. If there is an outflow of capital, the stock market will naturally continue to fall. After Li Yan said this, he tilted his head at Yang Hongli and Li Gengxin and said: "Let me explain, foreign capital changed RMB to invest in the stock market, and then found a hedge between the growth of the stock market and the depreciation of the RMB...... Think about it, if it's you. Do you take a falling currency for the stock market, or do you return the money and go home for the New Year?"

"So, the overall interests of the stock market should be affected, right?" asked Li Gengxin with a frown.

"It's just a matter of the exchange rate. In fact, the situation of the real economy is even less optimistic. At the end of January this year, the chairman of Jindun, who had a debt of 100 million yuan, jumped off the building because he could not bear the huge pressure. As soon as Li Yan's voice fell, Li Gengxin asked, "Dead?"

Li Yan tilted his head and looked at Li Gengxin, and suddenly felt that some people were very good in some aspects, and in some aspects, they really seemed to be a little bit like that...... This is also the person who opened the protagonist's aura! How can you ask such a question?

Nodding, Li Yan continued: "At the beginning of May, Dun'an. This of our top 500 enterprises in China was exposed to a debt crisis of up to 45 billion yuan. What followed was that the bigwigs of the Jiangsu and Zhejiang Financial Offices had to coordinate and try to protect him and find a way to stabilize him. As a matter of fact, people who are crawling around in the capital market every day should know that what I am talking about is only the tip of the iceberg! All kinds of phenomena tell people a core, that is, China's real economy has once again come to the crossroads of ice and fire. ”

"You are alarmist!" Zhang Peng couldn't help but retort at Li Yan.

"Really? I wish I was alarmist. But statistics show that only the last four months. Sixteen companies across the country have been exposed to bond defaults. The companies involved include Sichuan and Shu Coal, Dalian Machine Tool, Yiyang, Zhongcheng Construction, Shenwu Environmental Protection, and Fuguiniao and so on. The amount of money they involved hit a new high for the same period! In addition to the problem of bond default, there is also a more serious problem! The boss of Oriental English mentioned the matter of someone borrowing money last time. As soon as the words fell, Li Yan heard Zhang Peng ask with a blank face: "Oriental English boss borrowed money?"

Many shareholders of listed companies have overdue equity pledges. For example, CEFC's shareholder shares were frozen. There are also Ronghua, Hongyang, Tianye, Hengkang and so on...... Are the names of many listed companies in this particularly familiar, don't say you don't know?!" Li Yan smiled and asked Zhang Peng after asking this, and he found that the expression on his face had lost the confidence he had just now.

"There are also listed shares held by shareholders that have been or are being auctioned by judicial auctions. Among them, I know that there are CNC, Zhongfu and Yunwang. If you take the time to look for it, you should find a lot more. These are not companies that I just said in my head, they are all companies that have relevant data and I can think of them immediately, what does this mean?" Li Yan asked in a deep voice at Zhang Peng.