Once the lock-up is complete, the profit is secured. No matter how the market goes, Chen Hui's account equity will not change in any way.

At 9:20 a.m., USD/JPY began to fall, within a minute, it fell by 15 points in an instant, and after another 2 minutes it continued to fall to the 98.950 level, at this moment some panicked short-term bulls began to close their positions, and a lot of sell orders poured out in the market. The volume of trading in the market at the moment is huge. The bulls and bears fought fiercely.

At 9.28 a.m., USD/JPY rose another 5 pips, reaching the 99.000 level

At 9:29 a.m., the USD/JPY pair suddenly skyrocketed, rose by another 20 points in a few seconds, and continued to rise, and then by another 20 points in a few tens of seconds. Suddenly, there was a huge buying order. Driving USD/JPY skyrocketing. It rose all the way above 98.300.

Chen Hui knew that it might be the Dongying Central Bank that made a move at this moment, first pushing up with huge orders, and then canceling these huge orders, and finally smashed them to death. That's the case today.

Immediately, Chen Hui took advantage of the huge amount of buying in the market at this moment, Chen Hui immediately shorted another 200,000 hands of USD/JPY, and soon Chen Hui's 200,000 hands of USD/JPY were immediately traded, and all of them were eaten up in less than two seconds, and USD/JPY continued to rise by 5 points, and Chen Hui immediately lost 10 million US dollars.

At this moment, Chen Hui holds a long position of 200,000 contracts on USD/JPY, a short position of 400,000 contracts on USD/JPY, and a net short position of 200,000 contracts.

At 9:30 a.m., the results of the monetary meeting were finally in............ Greatly positive for the yen.

The central bank decided to keep monetary policy unchanged on the 7th and raised its assessment of the economy.

This has led to a growing belief that the central bank's future policy direction may be to raise interest rates rather than cut them.

As widely expected, the central bank continued to commit to guiding short-term interest rates to minus 0.10% and the 10-year Treasury yield to remain near zero. The central bank said that the economy continues to recover moderately, exports and output are picking up, and the central bank is more optimistic about it.

At the last meeting, the central bank said that the economy is tending to recover modestly, but the slowdown in emerging market demand is weighing on exports and economic output.

The report pointed out that the focus of financial markets is what Toei Central Bank Governor Toyo Kuroda will say about the recent rise in yields.

Long-term interest rates have risen in tandem with global Treasury yields on expectations of a steady increase in U.S. interest rates and the belief that U.S. President-elect Donald Trump's policies will spur inflation.

The move tested the central bank's resolve to keep the 10-year government bond yield near its zero target.

This, in turn, has led some market participants to expect that the central bank may raise the 10-year RB bond yield target as early as next year. The yield on the Treasury briefly touched 0.1% last week.

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The PBOC has used the overnight unsecured HIBOR as its main policy tool. The adoption of the overnight unsecured interest rate, which affects the interest rate on rediscounted bills and deferred loans provided to financial institutions, is fixed on the date of each announcement, but the specific time is uncertain, and the central bank will announce the decision as soon as the results of the meeting are available.

Interest rate decisions are the most important parameter of exchange rate fluctuations – traders pay attention to other economic data mostly to predict future interest rate movements. However, the market has usually already bet on the outcome of the interest rate decision in advance. A rise in interest rates is good for the yen, while a cut in interest rates or easing is bad for the yen.

At the moment, it is undoubtedly very positive for the yen, hinting at a rate hike...........

At this moment, USD/JPY began to fall, and it was just a long time, countless bears appeared in the market, and short-term bulls in the market began to close their positions.

At this moment, the market is still a large number of buying orders one minute, and the next minute is a large number of selling orders.......

It's like a meat grinder, it's even more exciting than being tied to a rocket and rushing up into the air, and then freefalling!

Chen Hui looked at the USD/JPY that had plummeted all the way, and his heart was turned upside down, watching the net value of the account continue to soar......

When the central bank announced the interest rate and the results of the meeting, USD/JPY immediately dived 45 points, from 99.350 to 98.900, and Chen Hui immediately made a profit of 40 points. A net short position of 200,000 contracts on USD/JPY is a book profit of $80 million, and the account equity immediately soars from $600 million to $680 million.

It's 80 million dollars a second!

What can you do to get $80 million in a second?

At 10 o'clock, USD/JPY fell below the previous level of 98.800, falling by 10 points, and the net value of Chen Hui's account exceeded 700 million US dollars.

Then USD/JPY began to fluctuate and pull back, and the shorts of the ultra-short were closing their positions in profits.......

From 10 o'clock to 12 o'clock, USD/JPY has been oscillating from 98.800 to 99.000, and in this 20-point range, up and down, the fluctuations are also very fast, Chen Hui's account equity fluctuates between 660 million US dollars and 700 million US dollars.

At this time, Zhou Xuefen had already prepared lunch, walked in, and said sweetly behind Chen Hui: "Young Master, lunch is ready"

Chen Hui let out a "hmm", and after taking a look at the USD/JPY market trend, he walked out of the study with confidence and went to lunch.......

At the moment at the Mitsubishi headquarters, Yamada is staring at the market trend of USD/JPY, at the moment USD/JPY is at the 99.000 position, Yamada has been short USD/JPY yesterday, a total of 300,000 short USD/JPY, the average position is 98.500 position, and at the moment there is a loss of 40 points, a total of 120 million US dollars.

Today, when the USD/JPY began to soar at the highest point of 99.350, Yamada's maximum floating loss reached $250 million, but Yamamoto did not close the position, betting on the outcome of the central bank's monetary meeting to be positive for the yen.

Undoubtedly, Yamada was lucky, the results of the central bank's monetary meeting at 9.30 o'clock this morning were greatly positive for the yen, and at the moment the yen fell by more than 40 points, and the account of Yamada's team decreased from a floating loss of $250 million to a floating loss of $120 million.

"Yamada-kun, at this moment, the decline of USD/JPY seems to have been stopped, should we lock up our positions first, and wait for USD/JPY to rise, and then untie our positions!" A trader said

"Yamada-kun, I think this moment is just a temporary pullback, today the USD/JPY will plummet, this currency meeting is greatly positive for the yen, do we continue to short at this moment!" said another trader, with a different opinion.

"Wait, don't increase your position at this moment, don't lock your position, wait for USD/JPY to fall, and then talk about it!" Yamada said calmly, making a rational decision.

Losses do not increase positions, and increasing positions means that more losses may be possible!

Losses are not locked, locking the position also means admitting losses, it is better to close the position directly!

Yamada chose to wait patiently, and at the moment he was extremely firm bearish,

If you are right, then time will prove you right!