The market calls him "Mr. 9%", which means that his trading volume reaches 9% of the total market volume, which means that the number of lots traded per day is at least 100,000 lots!

In fact, most of his funds were squeezed into the positions he had accumulated earlier, and although it was basically a big positive for copper futures, it was precisely because Chiba's account was liquidated in the market that the price of copper futures throughout April was sluggish.

Now he is preparing to take advantage of this opportunity, ready to start from a low level, and start to pull up the price of copper futures. After months of building positions, he now has billions of dollars in his hands, which is enough to support the copper price for some time to come. Even in the event of a sell-off, he is not afraid, because he has prepared hundreds of thousands of tons of spot copper for delivery.

Therefore, when he heard that the bulls were messing up in the market, his first reaction was not to let this force ruin his plan, but then he thought about it, and it was not too late to see what this capital wanted to do first, and then decide what to do next. If this stock of funds is blindly long, then he doesn't mind shorting backhand, suppressing this force first, and then implementing his plan after he leaves the market.

The traders of the Chiba Trading Company, who carefully observed the market situation, did not show any signs of this capital in the current market, because soon after the buy order was released, the main force of the bears began to exert force, and one sell order after another was thrown, and the bulls who took Lin Haocang's change of hands were beaten to the ground, and the price of copper quickly reversed and fell to $5,924 per ton.

At this time, the decline began to ease, on the one hand, because some accounts in the short camp closed when they saw the good and began to close the previously established short orders in the market, on the other hand, the bulls who were hedged at a high level saw that there was still no main force of the bulls below, and chose to cut the meat and leave the market under the condition of unbearable losses.

The main reason is that the main bears have accumulated a large number of positions, and there is no extra money to attack at this time, although they have accumulated a lot of floating profits on their accounts, but under the special system of 1me, this part of the floating profits is only a number on the books, and they are all floating clouds before they are all closed.

Although the price of copper futures has barely hit down two levels, the market has been keenly aware of the main force of the bears to go down, and they have begun to do long, especially the former bears who have just shorted to get profits, and at this time, the main force of the bulls who have not appeared has also begun to threaten, and the two forces almost simultaneously began to force at the position of $5921, and the enclave pulled up the price of copper.

"Short 10,000 lots!. ”

"Short 20,000 lots"

"Short 30,000 lots!

......

In various brokerage companies, the call of the commission came one after another, almost all of which were buy orders during this time period, which surprised the brokers, but fortunately they had already received instructions about the price of closing the short position, so they did not rush to match.

The price of copper futures quickly rose to $5,940, which is said to be an integer point, and the bears should set up a defense here, at least to consume some of the bulls' funds, but in fact the bears did not place many limit orders here, and the bulls easily broke through this defense.

The bulls who broke through the integer point are even more vigorous, rushing to 5945 points in one go, and at this time the orders sold gradually increased, and the brokers knew in their hearts that this was the bears preparing to counterattack, but this would have to wait for a while, because the main force of the bulls was currently pulling up the copper price while clearing the previous position, because only in this way can they keep profits.

The game of the market is the game of people's hearts, which has countless possibilities, but when the main force of the bulls is calculating the trend and the shorts, these shorts and the followers are also calculating the main forces of the bulls.

"Clear all your current positions, be fast, market order!" Anthony shouted just after the price of copper futures rose to $5,945.

A small part of the funds in his hand was established in the July contract, and the rest were invested in the main contract in June. In the past, he misjudged the situation and lost a lot all of a sudden, which made him extremely unwilling, and this wave of rise just earned back the original loss.

Anthony, who was already a little frightened and at a loss, naturally accepted it when he saw it, and quickly ordered his traders to close all the long orders, without the slightest intention of continuing to raise the price of copper. Hearing his instructions, the traders of Sky Capital began to dial the broker's phone to clear all positions as quickly as possible.

50,000 hands of long closing orders appeared in the market, immediately caused a commotion, followers of the market could not help but speculate, this is the main force of the bulls ready to escape, to their surprise, the real main force of the bulls at the position of 5945 and 5944 US dollars set a total of 100,000 hands of limit orders, Anthony this long order easily eaten.

The price of copper futures only stayed at the position of $5944 for less than a minute, and then jumped to the position of $5945 again.

What they don't know is that the bulls who are actively pulling up copper prices have quietly reduced their positions in the process of pulling up, on the one hand, they will pocket their profits, and on the other hand, they will fight the bears by mobilizing the forces that follow the trend.

The main force of the bears, because they were short at a high level before, are now looking at the rest except for sporadic short opportunities to open positions at a high level. The so-called counterparty order of the long position is nothing more than the position held by the previous short position and the turnover of the other long position.

Soon, the bulls pulled the price up to the $5,949 position, approaching the integer point of $5,950, but they will soon appear, and now there are not many opponents in the market that can be opened, and the long positions that change hands are only profitable on them, and even they have been formulating a strategy of pulling up and exiting the position while not working.

The bears made a move at this time, taking advantage of the opportunity when the bulls had not yet reacted, and opened a short order wantonly, instantly sweeping away the buy order at the price of $5949, and then it was 5947 and other dollars, which has suppressed the price of copper futures to $5940, which has approached the position where they first opened a position.

"Buy 100,000 lots!" At this time, Anthony instructed his traders to enter the market again, and after making up for the losses, he chose the opportunity to enter the market again.

However, Anthony's bottom-buying behavior was still a step slower, and before he and his trading team made a move, the sell orders in the market had been matched by the limit orders set in advance by the bulls, and the copper price stopped steadily at $5,940.

"Looks like there's a lot of stuff going on!" said Anthony with some sighs. He then waved his hand to stop the traders from making phone calls, stared at the candlestick chart on the computer screen, silently lit a cigarette, and pondered in a cloud of green smoke.

The current situation is that the bulls attacked violently, and the result was repelled by the bears who retreated earlier in the case of hitting the highest level of the day, because the main hand of the bulls was too large, and they were not able to change their hands from the buying orders of the follow-up disk in time, resulting in the current financial situation is not enough to support the continued upward attack, and it was impossible to untie the set for a while.

In the previous wave of contact wars, the positions of the main bears were not exhausted, and even when the market reversed, they endured losses while gradually closing the short positions in the market, which is why the price of copper futures will skyrocket in a short period of time.

The offense and defense of the two sides is to compete on a spring, if the long and short sides are evenly matched, then the market will sway from side to side, and finally maintain a relative balance, but if one side suddenly increases its strength, the other side may not be able to resist. In addition to fundamental factors, there are also the daily entry and exit of the forces in and out of the market.

At this time, the forces on both sides of the market are in a situation of one thing and the other, and the main bears have liquidated their positions in the process of rising. With a slight shrinkage of profits and margin to the bulls violently attacked, the bulls because of the position problem for a while can not mobilize new funds, and can only watch the current copper price fall, now they can expect that the bears will be suppressed to a certain price after accumulating a huge position, so that the funds in their account are not enough to pry the market, at this time the bulls may set off another wave of counterattack, and finally the two sides at a certain price to reach a balance.

The bad thing is that as soon as the market is reversed, the market immediately discards their long orders. Instead, they started to follow the trend and shorted. This is also the most annoying place for the main forces of long and short positions. The follower market is purely profitable in the market, and has no ability or willingness to manipulate the direction of the entire market.

A large order of 100,000 lots can certainly change the direction of the market in a short period of time, but the follow-up order can offset this effect, especially when the market has a significant reversal. These followers have the advantage of flexible positions. You can turn your head in reverse in the first time.

If there is no support from another bulls at $5940. I am afraid that the price of copper futures has already fallen to the range of $5,930 now, and by that time, the follow-up market with early profits may increase its positions again, so that the bulls have to watch the price of copper futures fall further.

"The bulls aren't doing much!" Anthony observed. to draw a conclusion. Just as he was talking to himself, the price of copper futures had fallen to $5,939, and according to the preliminary judgment of the market, the current price is still going to fall.

However, during the period when the price stayed at $5,940, some of the shorts began to close their positions, and the followers could not figure out where the psychological expectations of the main forces of the long and short positions were, and their best strategy was to close when they saw the good. This relieves the pressure on the pallet bulls to a certain extent.

The bulls apparently also expected this situation, and after the copper futures price was slightly supported, they immediately increased the pressure on the price, causing the copper futures price to fall further.

"Shall we make a move?" As Anthony's face changed, a trader offered his opinion, and Anthony looked up at the traders who had been waiting for orders, their faces full of eagerness. Anthony thought about it and finally shook his head, much to the disappointment of the traders.

Anthony wanted to ask Lin Haocang's opinion now, but Lin Haocang was on a Scottish farm, so he could only give up this idea. If he was allowed to face this situation alone, although he could also make a decision, he had opened a position of 100,000 hands before, and he lost $500 million in an instant, which made him a little frightened at this time.

Therefore, he decided to stay put, continue to watch the direction of the market, and continue to buy those contracts that expire in late April and early May, which are close to delivery.

......

In the United States, it was late at night, but the trading room of the Williams Fund was very lively, and the traders who operated the London copper market were still not resting, they were nervously staring at the data on the computer screen, while constantly communicating with the brokers.

"Mr. Williams, is it time to bring up the price of copper futures?" the quote, who was in charge of communication between the trader and the manager, pushed the door in and asked Williams, who was frowning and contemplating at his desk.

At this time, there are several monitors in front of Williams's desk, displaying the data of the copper price of the electronic disk, the market and the market in a timely manner, and there are also three telephones on the table at any time, discussing the latest market with the London agent.

"Is the main force there?" Williams looked up, his red eyes bloodshot. During this time, the pressure on him was enormous, especially the failed bet on the yen, and after the net value was announced in March, several customers have already proposed to withdraw their funds, and it is Soros who has stepped in to save them.

This time he has set his sights on the London copper market, partly for performance reasons. On the other hand, it is also necessary to make a large amount of money in the shortest possible time, so that the latest net worth can be improved, so as to attract more investors.

Due to the rapid growth of economic data in the first quarter, they realized that the demand for non-ferrous metals will increase significantly in the coming period. Originally, economic growth was a great positive for the stock market in the United States, but the Federal Reserve hit the enthusiasm of the stock market and made the market full of uncertainty, so they focused their investment on the non-ferrous metals market.

It's just that as soon as they entered this market, they realized that the mechanism and driving factors of the entire market are not as simple as they imagined, especially after the release of economic data in the United States, the data of the copper futures market has not improved much. After much inquiry. Only then did they realize that the water in the copper futures market was extremely muddy, and there were characters like Yokono Yamashima who blatantly manipulated the market.

The newcomers to Williams Fund accumulated a large number of positions in the May, June and July contracts, which made their money ineffective for a while. Although the Williams Fund now has tens of billions of dollars, it is unlikely that all of this money will be mobilized into the maturing copper market. As the saying goes, diversify your investments to share the risks. They have positions in markets such as the money market, the bond market, the stock market, and stock indices. Only a little billion dollars have been allocated to the non-ferrous metals market.

At this time, the main force he said was Yamashima Yokono, who was the previous fund that pulled up the copper futures, and the $5,940 pallet commission was also a safety measure they made to prevent the price of copper futures from falling sharply. It's just that now that this line of defense has been breached, they have to react.

"There is no indication that there are other bulls entering the market, as if the market is the only one with us. The quoter paused, then stated the conclusion reached by the traders.

"Then let's not enter the market, continue to wait, I don't believe they won't enter. Williams said categorically. During this time, through the information of the brokers, he has learned that several brokerage companies commonly used by Chiba Trading Company have gradually cleared their positions, and the time to pull up the future copper is approaching.

Williams dared to let the price of copper futures fall, this is because he has accumulated a large number of positions at a low level, even if copper futures fall today, it has not exceeded the average position of their positions, so the loss of the current decline is only the position they have established in the market today, so he dares to blatantly watch the decline in copper futures prices.

......