331. The Yamada Fund was liquidated
Chen Hui saw that he had closed a long order of 500,000 hands, and he was very happy, all of this money was floating, and it was true that he was closing the position now and falling into the bag.
At this moment, the sharp rise in USD/JPY has led to numerous long-term short stop-losses and liquidations, leading to further upward movement of the US dollar. /Yen.
Yamada Fund's short order of 5 million contracts of USD/JPY has now only closed 400,000 lots, and it was these 400,000 lots that caused countless shorts to close their positions one after another, causing USD/JPY to soar by 80 points.
At this moment, it is already the stage of the bears cutting their flesh, and Chen Hui didn't expect that today is the end of the bears.
At this moment, a group of personnel from the risk control department of Daiwa Bank, watching the continuous surge in USD/JPY, immediately frightened them, Yamada's margin has lost very little, and the short list of Yamada Fund has not yet been closed by their bank, and they want to take advantage of the fact that USD/JPY is still in a low position, and feel that the position of Yamada Fund is closed. 、
Now because they have allocated a high amount of leverage to the Yamada Fund, it is now equivalent to their bank paying for the Yamada Fund to fill the hole, which can be described as a heavy loss.
This is the case with many banks, as is the case with Daiwa Bank. The USD/JPY pair has skyrocketed by 80 pips, and now the wave has wiped out the margin that the Yamada Fund left in their bank.
USD/JPY is still rising, and the banks that cooperate with Yamada have taken advantage of the moment that USD/JPY is at 105.800 to close their positions, and now there are many bulls who are closing their positions, just in time to hedge with them.
Minimize their losses.
But what they didn't expect was that there were too many shorts to cut meat and close their positions at the moment, and many shorts in the world were cutting meat, or they had already blown up and were forcibly liquidated.
The sheer volume of short closing orders swept away all those long closing orders.
The USD/JPY continued to rise, because the Yamada Fund was the first to liquidate and was forced to liquidate, which drove many funds, institutions, and investment banks that shorted the USD/JPY in time to close their positions and cut their meat.
Peter of this Merrill Lynch Bank was very happy, just now he closed all his positions of 200,000 hands at the highest point, and his heart was so happy that he took off his pants, leaned on the boss's chair, and said to his new best secretary
"Baby, come here, help me, it's a little uncomfortable"
At this time, a superb beauty came and said: "Peter, let you enjoy it tonight, you have been so tired recently, I really feel sorry for me"
This superb beauty brought a cup of hot water and a glass of ice water.
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USD/JPY is still rising, and today it seems as if it is going to break through the sky, after Chen Hui closed 500,000 lots, USD/JPY still broke through the 106.000 level and continued to rush up.
But it is no longer a state of skyrocketing, but a steady rise, just like the mode of boiling frogs in warm water, Chen Hui's favorite is such a model.
Chen Hui didn't bother to look at how much money he had in his account, and he closed the position vigorously, a few thousand hands at a time, or ten thousand hands.
His hand kept clicking the mouse, and Chen Hui clicked his fingers and felt sore.
became more and more sleepy, and finally Chen Hui closed his eyes and kept clicking the mouse.
Straight to the point of stopping.
Chen Hui nodded and found that something was wrong, opened his eyes, and looked, why didn't the USD/JPY fluctuate in the slightest?
"Nima, it turned out to be suspended, Cao!" Chen Hui scolded, watching that the USD/JPY had risen to the 106.600 level at the moment, and it rose by 360 points yesterday, which was too damn terrifying.
The account equity is a lot more, too lazy to look at it.
Chen Hui narrowed his eyes, opened his mouth, and stretched for a while, it seemed that he still couldn't sleep.
After washing up, Chen Hui walked out and saw that the three girls were waiting for him, and they all fell asleep on the sofa.
Immediately, Chen Hui instructed the maid on duty to make breakfast.
At this moment, it was still more than 5 o'clock in the morning, and after a while, breakfast was ready, Chen Hui ate breakfast, and then carried the three girls to the big bed.
Chen Hui returned to his study.
In the past few days, Chen Hui plans to close all his long positions, and last night he closed a total of 1 million lots. There are still 4 million hands left that have not been flattened.
Chen Hui knows that it is not easy to close the four million lots, the USD/JPY rose too much last night, and there is not so much order in the market to consume his four million lots.
Chen Hui lay on his boss's chair, rested for more than an hour, and then went to take a shower, keep his spirits, and returned to the computer.
At this time, it was already half past eight in the morning, Chen Hui began to close the position again, and now the trading volume in the market is small, so it is only a few dozens, hundreds, or thousands of hands at a time, slowly clicking the mouse, Chen Hui finally became sleepy, closed his eyes from time to time, and then opened them again, and continued to click the mouse.
Until he felt hungry Chen Hui looked at the time, after noon, and had lunch with the three girls, Chen Hui returned to the study again, and Chen Hui has been closing positions in Asia today, causing USD/JPY to fall by 30 points.
But Chen Hui has closed less than 100,000 hands, and he has 3.9 million hands, when will it be closed!
Chen Hui sighed heavily: "Damn, it took Lao Tzu so many days to build a position! Now it is impossible to finish it in a few days!"
At this moment, in the risk control department of Daiwa Bank, a dignified man said: "Have we finished the list of Yamada Fund?"
"Not yet, there are still a lot of them, we flattened too much at the beginning last night, which led to a series of chain reactions, USD/JPY skyrocketed by 160 points, Yamada Fund lost all the margin, our bank has lost hundreds of millions of dollars at the moment, and if USD/JPY continues to rise, we will lose even more. One of his subordinates said
"Manager, I guess we will lose a lot of money after we close these short orders!" said another subordinate
"How much do you estimate we will lose at most?" asked the risk manager
"It's going to be nearly a billion dollars!" said one of his subordinates
"Hiss!! lawyer is ready, there is no ,!!!! to sue Yamada Fund!"
"Manager, Yamada has committed suicide!
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I've been working with Yamada for so many years, but I didn't expect this guy to be so cheating!
I hurriedly closed the position last night, but it didn't make USD/JPY skyrocket so much!
But Murai didn't expect that Yamada shorted 5 million short orders, which were completed by more than a dozen large accounts.
These large accounts are held in their Daiwa Bank, Fuji Bank, Bank of Tokyo, Sumitomo Mitsui Banking Corporation·········
At the same time, there are many sub-accounts under a large account··········
Yamada was ready to rely on his reputation for many years, and temporarily coaxed many people, until Yamada liquidated, everyone understood.