However, Andrew'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 long haode limit order in advance, and the copper price stopped steadily at the $1,940 position.

"It looks like there are many heads at the bottom!" Andrew said with some sighs. He then waved his hand to the traders to stop talking on the phone, 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 war, 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 also the reason why the price of copper in Weishenme 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 liliang, the other side may not be able to resist. In addition to fundamental factors, there are also shili comparisons that enter and exit the market every day.

At this time, the shili on both sides of the market is in a situation of one trade-off, and the main bears have cleared their positions in the process of rising. With a slight shrinkage of profits and margins to the bulls fiercely attacked, the bulls because of the position problem for a time 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 accounts are not enough to pry the market, at this time the bulls may set off another wave of counterattack, and finally the two sides reached a balance at a certain price.

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 1,000 lots can certainly change the direction of the market in a short period of time, but 100 followers of 10 lots can offset this effect, especially when there is a significant reversal in the market. 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 bull at $1940. I am afraid that the price of copper futures has already fallen to the range of $1,930 by 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 are not very strong!" Andrew observed. to draw a conclusion. Just as he was talking to himself, the price of copper futures had fallen to $1,939, 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 $1940, 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. This relieves the pressure on the pallet bulls to a certain extent.

The bulls apparently expected this to happen, 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?" Just as Andrew's face was changing, a trader offered his opinion, and Andrew looked up at the traders who had been waiting for orders, their faces full of eagerness. Andrew thought about it and finally shook his head, much to the disappointment of the traders.

Andrew was tempted to ask Bell Stone for his opinion now, but when he took into account the time difference between London and the United States, he had to abandon the idea. If he was to face this situation alone, although he could also make a decision, he had opened a position of 1,000 hands before, and he lost $50,000 in an instant, which made him a little frightened at this time.

$50,000, and his authority is only $10 million, which means that this loss will be lost all of them if there are only 200 times. In fact, it doesn't take more than 200 times, you must know that there is no limit to the price fluctuations of the copper futures market, which means that it is possible for the copper futures market to rise or fall by $200 a day. If that's the case, if Andrew's 1,000 lot position can't be cleared in time, the loss will be $5 million, and I'm afraid it will be liquidated at that 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 traders who operated the London copper market were still not resting, staring nervously at the data on their computer screens while constantly communicating with their brokers.

"Mr. Stanley, 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 Druckenmiller, who was frowning and contemplating at his desk.

At this time, there are several monitors in front of Druckenmiller's desk, displaying the data of the copper price in 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 broker.

"Has the main force appeared?" Druckenmiller looked up, his red eyes bloodshot. During this time, he was under tremendous pressure, especially the failure of the bet on the yen, a huge loss of $650 million, and after the net value was announced in March, several customers have already proposed to withdraw their funds, and Soros has stepped forward 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 United States 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 boon to the U.S. stock market, but the Federal Reserve's two interest rate hikes in two months have seriously hit the enthusiasm of the stock market, making the market full of uncertainty, so they will focus their investment on the non-ferrous metals market.

It was only as soon as they entered the market that they found that the mechanism and drivers of the entire market were not as simple as they imagined, especially after the release of economic data in the United States, the data of the copper futures market did not improve 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 Yasuo Hamanaka who blatantly manipulated the market.

The newcomers to the Quantum Fund accumulated a large number of positions in the March contracts of May, June and July, which made their funds ineffective for a while. Although the quantum fund now has tens of billions of dollars, it is impossible for all of this money to mobilize the maturity 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 Yasuo Hamanaka, who was the capital that pulled up the copper futures, and the $1,940 pallet commission was also a safety measure they made in order 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 quotes paused, then stated the conclusions reached by the traders.

"Then let's not enter the market, continue to wait, I don't believe they won't enter." Druckenmiller said categorically. During this time, he had learned through the information of the brokers that several brokerage companies commonly used by Sumitomo Trading Company had gradually emptied their positions, and the time to pull up the copper futures was approaching.

Druckenmiller 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 they opened, 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 the price of copper futures.

……

London, at this time the copper price has fallen to $1932, the downward trend has not stopped, the first wave of followers has begun the second short, their original appetite to close when they see good has been suspended, so that the main bears are gradually reducing their positions.

It is no wonder that while following the trend and wanting to make money, the main force is also calculating these followers, on the one hand, they are suppressing the price of copper futures, and on the other hand, they are constantly selling their positions at a high level, making the transactions during this period of time mainly short exchanges.

"At $1,930, throw 2,000 lots, market orders, see how the market reacts, and withdraw all orders at $1,940." Yasuo Hamanaka, who has been paying close attention to the market, ordered, he had been trying to see the reaction of the previous bulls, who knew that the main force had not reacted after the price of copper fell by $10, he suddenly remembered a possibility, which made him change his original mind and ask the traders who had been waiting for a long time to enter the market.

In Yasuo Hamanaka's mind, the possibility that made him change his mind was that the main bulls might choose to hold positions for a long time, so in his future jihua that will pull up the price of copper, these positions are like hitchhiking, and it is easy to make huge profits without effort.

This is what he does not want to see, and what he has to do now is to let these long positions take the initiative to leave the market.

Finally, the price of copper futures on this day closed at $1,937, up $17.50 throughout the day, and the number of trading lots reached 50,000 lots, an increase of 7,888 lots from the previous day. Although this market claims to be 24 hours, brokers also need to take a break.

But until the closing time, Yasuo Hamanaka was not sure whether the bulls had left the market. (To be continued......)

PS: I originally wanted to send a few more chapters in the past few days for the New Year.,It's good to ask for a monthly pass.、Recommended tickets or something.,But once you go home, it's hard to check the information or something.,I can only do it first.。 I'm really sorry for everyone this month, so let's make it up next month, hey...... Everyone, just vote for a recommendation or something.,I'm really embarrassed to ask for a monthly pass.