Compared with stocks, "He Dahu" is even more ignorant of futures.

And Zhang Tao has the nickname of "Little Heavenly Master", and he is a high-achieving student who graduated from the major of "Nanjing University in International Finance", so "He Dahu" naturally invited Zhang Tao to be his futures broker.

Zhang Tao also felt that his talent had not been fully displayed, and he had been taken care of by "He Dahu" for so many years, so he agreed to "He Dahu"'s request. For this reason, Zhang Tao also politely refused the high salary of the securities company.

Zhang Tao followed "He Dahu" into the futures company, and with his professional knowledge, he quickly passed the qualification examination of a futures broker and became a licensed "futures broker".

As a result, at the beginning of 2008, "He Dahu" officially settled in the large account of "CICC Futures", and changed from a large stock investor to a major futures account, and Zhang Tao was his futures broker.

From the perspective of "forced qualification", the large futures investors are much more bullish than the large stock investors. The treatment received in the futures business department is also a notch higher than that in the securities company.

But there is no free lunch in the world, and the rise of "forced qualification" is, of course, at the expense of money. Compared with stocks, the handling fee of futures trading is much higher. Therefore, the handling fee is the first threshold that "He Dahu" cannot bypass.

The second feature of futures trading is fast in and fast out, which makes "He Dahu" even more unadaptable.

Moreover, the "trading target" of futures trading is actually a "contract", and any "contract" has an expiration date.

This means that even if some transactions are obviously lost money, they cannot be held still like speculating in stocks, but must "cut their positions and cut meat" within the specified time limit. This makes "He Dahu" even more uncomfortable.

Several of the above factors can make the volatility of funds in the futures market far greater than the volatility of stocks. Take the 5 million funds of "He Dahu" as an example, there will be fluctuations of more than 5% almost every day.

5% of 5 million is 250,000. In just four hours of trading, there was a fluctuation of 250,000 yuan per day, which was obviously overloaded for people like "He Dahu" who had insufficient affordability.

Moreover, sometimes, the daily fluctuation even reaches 20%, that is, 1 million, which makes him even more unbearable.

As a result, the "He Dahu", who was obedient to Zhang Tao's words when speculating in stocks, was not so obedient when he arrived in the futures room.

Gradually, "He Dahu" not only didn't listen to Zhang Tao's words, but also felt more and more that Zhang Tao was not good. Why can't Zhang Tao be good?

Because his own futures funds are constantly shrinking, after more than half a year of tossing, his 5 million is only more than 1 million. Therefore, friction slowly arose between him and Zhang Tao, and even evolved into frequent quarrels.

This is also a common phenomenon in the industry. In the trading of stocks or futures, the relationship between the broker and the client almost follows a law -

When you make money, everyone is a good friend, and if you lose money, the customer will put all the responsibility on the broker, so the two can no longer "play" happily.

In fact, "He Dahu" should also thank Zhang Tao. Because of Zhang Tao's excellent professional vision and the knowledge of futures trading before becoming a futures broker, his vision is much more accurate than that of "He Dahu".

Because of his wisdom and decisiveness, "He Dahu" avoided disaster after disaster.

If it weren't for Zhang Tao to help "He Dahu" control positions and reduce risks, a stupid fork like "He Dahu" would probably lose all 5 million in less than a month.

But "He Dahu" didn't think so, he always felt that Zhang Tao was in charge of the operation, and now that the money was less, Zhang Tao must be fully responsible.

And Zhang Tao was also very aggrieved in his heart. For example, sometimes I want to be short, but "He Dahu" insists on going long.

And the customer is God, Zhang Tao has no choice but to obey "He Dahu"; and sometimes he obviously wants to close the position with a profit, but "He Dahu" refuses to live or die, and has to wait for a bigger "cake"......

In all this, Zhang Tao was always led by the nose by "He Dahu", and "He Dahu" lost money but still had to hit him back. Therefore, he has been unhappy with this nouveau riche for a long time.

Yesterday, due to a single "futures copper" long order, "He Dahu" did not listen to Zhang Tao's advice to stop the loss in time, resulting in a floating loss of more than 40,000 yuan by the time of closing. Up to now, this long order is still in hand and has not been closed.

This more than 40,000 yuan is really nothing to the "He Dahu" when the original 5 million account was opened. But now, after loss after loss, "He Dahu" is obviously lacking in confidence. For a loss of 40,000 yuan on a single list, he obviously couldn't stand it.

Therefore, today's "He Dahu" is as anxious as "ants on a hot pot", and the futures will not open until 9 o'clock, and he will arrive at the futures company at 8 o'clock.

After entering his big house, he was not quiet, asking people to make tea for a while, and then saying that he wanted to drink boiled water. One moment he asked people to buy cigarettes, and the other time he said that the employees in the sales department had bought the wrong cigarettes......

In short, the entire sales department was disturbed by him.

It's only 8:30 now, and there is still half an hour left before he leaves the plate, so he came out to find Zhang Tao, and said that Zhang Tao didn't take his futures trading to heart and came so late.

And Zhang Tao is also full of resentment. There are three main reasons:

First of all, he didn't agree with "He Dahu" to do it yesterday, but "He Dahu" is stubborn and has to do it;

Secondly, just do it, Zhang Tao can't help it. However, he still suggested that "He Dahu" reduce his position, not more than 5 hands at most.

But "He Dahu" heard the gossip from somewhere, saying that a certain institution in the south has entered the market and is ready to hold long orders in a big way before the National Day, so as to carry out a round of "shorting" sweep on the bears after the holiday.

As a result, "He Dahu" insisted on going his own way, and even invested all his family resources into it, making 60 hands, which was obviously beyond Zhang Tao's control.

Third, 60 hands is 60 hands, but when these long orders only lost 30 points, Zhang Tao reminded "He Dahu" to close the position, "He Dahu" did not listen at all.

If "He Dahu" had listened to Zhang Tao's words at that time, the list would have ended with a loss of more than 1,800 yuan.

The fact is that when the market closes, it loses 140 points per ton, and each lot is 5 tons, that is, it has lost nearly 40,000 yuan in total.

Due to the above three reasons, Zhang Tao's blame for "He Dahu" is completely unacceptable.