539. Because 90% of people, are wrong!
He has now felt the power behind this, and it seems that he is deliberately eating more goods at a low level, and exhausting the bearish power in the market!
Danny's face became heavier and heavier as he listened to the trader's words, obviously shocked by the trader's words, and his heart became more and more uneasy. He got up on his stool and poured himself a cup of coffee, crushing his shock.
At this time, another trader fidgeted and said: "Danny, this time we may be dangerous, I didn't expect the USD/CAD at 1.0820, there are such strong bulls, very stubborn! It seems to have just entered the market! Every time it sweeps the goods there, it directly eats up the short list in the market, and now many short-term bears are frightened by it! When the time comes, these short-term bears retreat collectively, the situation is very bad, we have spent a lot of effort and used a lot of money to put the dollar/ The Canadian dollar has been pushed from 1.0880 to 1.0820!
After Danny heard the words of this trader, his face became more and more gloomy, and he stood in place without saying a word, what the trader said was not wrong at all, his originally firm heart began to waver! began to doubt his initial judgment, he has always been bearish on USD/CAD, but he did not expect it to suddenly become today's situation, he said nervously in his heart: "Could it be that I am stubborn wrong this time?"
At this time, another trader took a deep breath and said: "Danny, I think this is just the stubbornness of the dead bulls, not a big crocodile, now the USD/CAD has been fluctuating at a high level for many days, and the recent international crude oil is also beginning to rebound, which is also good for the Canadian dollar, negative for the USD/CAD." I think we should stick to it, the dead bulls at 1.0820 may only be temporary, if the international crude oil rises sharply, plus we drive the market and strongly suppress the USD/CAD, it will definitely retreat!"
Such a trader's point of view immediately attracted everyone's deep thought, and they were silent.
At this time, Danny, who was originally silent, spoke, and said firmly: "It's not that I'm wrong, but the market is wrong!
"The market is always biased, and there are many irrational people, and these irrational bulls will eventually taste the bitter fruits of big losses! If more than 90% of the people in the market hold long positions, and 10% of us hold short positions, then we will definitely win! Because 90% of people are wrong! Blind, blindly followed! Just like this dollar/ The Canadian dollar broke through the highest level of last month, and many people like to enter the market to chase the rally, but the market will tell them that they are wrong, and they will pay for their mistakes and learn a lesson!!"
Listening to Danny's words, everyone suddenly regained some self-confidence. Everyone began to sit up straight, their eyes starting to shine at the USD/CAD chart.
Danny finally got rid of that panicked thought in his heart, and regained his self-confidence, his unparalleled stubbornness is the best tranquilizer and booster for him every time he doubts himself and worries about the market. Let him stick to his heart and unswervingly follow the original plan!
At the moment, Danny and his team hold a long position of 5 million contracts of USD/CAD, with an average increase in positions at 1.0780. At the current level of USD/CAD at 1.0830, they have a total floating loss of 50 points, which is $2.5 billion, compared to the previous floating loss of $3 billion, and now they are losing 500 million US dollars. This is because they have recently added a lot of long positions at high levels amid the amplification of USD/CAD trading volumes.
Now they also intend to focus on the USD/CAD variety, so the short-term short positions they held in AUD/CAD, CHF/CAD, GBP/CAD, EUR/CAD have all been closed, and they have basically maintained no profit or loss.
Today, their account equity is $17.5 billion!
···
At this moment, the Bank of Montreal, Adam and other traders finally breathed a sigh of relief on their faces, the previous USD/CAD fell all the way, and they were slowly increasing their positions halfway, but fortunately, the USD/CAD fell to the 1.0820 level and could not fall anymore.
"Adam, you're right, the bears were so fierce tonight that a powerful force emerged that firmly fixed USD/CAD above the 1.0820 level. Tonight must have consumed a lot of bearish power, those short-term bears should flee from the wind!haha"
Adam also smiled, nodded and said: "Hehe, tonight really scared me, I thought USD/CAD would fall to the 1.0800 level!
Seeing the USD/CAD at 1.0820 being held up by the strong bulls in the market, Adam was undoubtedly very excited, and the original worries in his heart were completely swept away. Thinking of this, Adam laughed out loud again: "Haha, today I also discovered a powerful bullish force, it is our good ally, good partner!
"Adam, you're really smart! Hehe, these bears must be panicking this time! I think they can also see that there is a strong bullish force sweeping the market!" said a trader excitedly, pointing to the USD/CAD chart, he said: "This time, USD/CAD, may be divided next week, I think as long as this bullish force continues, then next week those bears are really going to be in a desperate situation!"
The trader's words immediately attracted the applause of other traders.
"That's for sure, as long as this bullish force continues to sweep like this, then many short-term bears may be converted into short-term bulls, and then choose to go long USD/CAD, I feel that today's USD/CAD bears are already struggling to support, and one day next week, they will be completely unable to support, and then it will be time for USD/CAD to skyrocket!"
"Haha, that's true, I think that when the time comes, those bears who are against us will probably jump off the building!"
"Indeed, if the USD/CAD skyrockets this time, it will be a big deal! Many individual bears will go bankrupt, and those institutions that oppose us will lose money in a minute!"
"Indeed, this time thanks to Adam!"
"I was really shaken inside!"
"Me too!"
"Or Adam is smart!"
"Yes, it's good to have Adam!"