(turn) A large confession: I was so blown by two melts

Source: Internet
Author: User
Tags call back stock prices

A big confession: I was so blown by two melts.
Source: Flush synthesis 2015-01-22 08:56:27 | I want to share    Guide

It was the most painful day of investing in a stock career. I saw right, also did the right, but the position control is wrong, the result I face to explode a position ....

Select stocks again good, but I play is super full warehouse financing, this and I used to coax the quite confident of the selection of bull stocks skills completely do not match, even if understand this is the night before dawn, also must fall.

This is my true experience, painful lesson, hope to give everyone a warning, it happened not far, just a few days ago.


I say my account situation last March 260,000, July 550,000, December 1.03 million, January 2015 800,000.

When the bull market did not come, the money did grow sharply, and the bull market came and the money shrank sharply. What's the matter? Because of the opening of the unfamiliar with the capital business AH.

Originally did not get the funding, has been on its own funds to toss, is also a lot of money growth, especially last year, the whole year crazy turned several times, the key is to do two cattle stocks, but never thought to join the financing army.

In the December, I think great bull market came, the media said that everyone in the financing, I think, since the bull market did not come, can make a big profit, a bull market, not a large profit? So also to open up financing business.

The account manager told me, "if the funding is money, it can be 1:1.2."

I said, "This ratio is too low, I listen to netizens said they can be 1:3 or even 1:5 of the proportion of capital

  The manager said, "That's a violation."

I said, "You look at my last year's water, one months, you give me to find a way to get 1:2."

Manager said, you have to consult the sales department boss.

A lot of twists and turns, and finally the boss agreed, but need to monitor my account in real time to see how I manage the risk of the ability.

I said, "You see, the ability to manage risk does not have to be blown, the two years of no significant loss of funds."

Mister Seriously, "I mean, because your ratio is not compliant, we have to monitor your account, and if not, we can close your position at any time."

This sentence is a little savage taste, I think mister in disrespect me such a big, so also a bit of emotion, some emotional said, "OK, if you feel the risk, you can monitor at any time."

Mister said, "OK, you call to open at any time, we have an early warning mechanism, the account manager will keep in touch with you."

I said, "Just do it."

So the ratio of 1:2 of the funding is set. At that time, I also thought, this proportion is not high, or not high enough AH.


When I go home, I still think angrily, play so many years of stock, the funds have also had 400,000 drop to 200,000 experience, also did not fear, today I also fear this set AH.

Not a few days after home, the account manager told me to transfer to the collateral, considering as much as possible to raise funds, I will liquidate all stocks, into 1 million integers, turn an integer, conducive to observing the increase or decrease in capital, easy to count.

In a few days, notify me to open, you can use to see the line.

In a few options to choose the most sure of the ticket, yesterday trading, and is more than million hands of a single, has not opened, today set auction high open more than 3 points.

I pre-confident analysis of the screening, that the stock is a hot share, replenishment, the key is the first giant single seal trading did not open, the next day high open.

In accordance with the previous experience in the operation of their own funds, this hot replenishment of the stock opportunities far greater than the risk, today at least there is a limit, the shipment tomorrow.

Set auction is a key point of time, generally if it is the initiation of the cattle stocks, this will be the lowest point of the whole day or lower, so full warehouse plus financing, considering the security collateral to have a discount, so the first use of the financing amount of 2 million, and then use their own funds 1 million, full position to kill into.

As a result, stocks quickly traded and account profits reached 200,000.

This even more let me regret not to open the funding business earlier, three times times the proceeds, if I opened the business early, now I am afraid of assets tens of millions of it?

Not to 11 points, the market diving, trading open, sell a single swarming out, directly hit 2 points on the flat,

At this point, I noticed that there was a "fixed guarantee ratio" option in the credit account, which was already 1.47多 points, and in the morning, because of the participation in the auction, I did not pay attention to this option and saw that the guarantee ratio was so low.

Think of the guarantee ratio of less than 1.4, the broker will ask for additional margin reminder, in the heart this just panic up, out of a cold sweat, hands are trembling up.

The loss of a point, the loss of a point in the disk will be required to be added margin!

This is completely different from the own capital mode of operation. This reminds me of the reason why a few days ago, the stock of brokers in the more than 10-point volatility.


A few days ago, brokerage stocks daily pull the board, but strangely, every day there are seven or eight points or even more than 10 points of fluctuations, I do not understand how this is going on.

In the heart also secretly for the main trick and feel funny: Do you think you can shock us out? Too much of US stock market veteran.

Now I understand that the main capital disk in large shocks, really want to eliminate, in fact, not their own funds of the shareholders, they eliminate, is a large number of super-full warehouse financing greedy gamers and institutions.

Today I have a point of loss will be added margin, imagine if the 10 points in the intraday fluctuations, super-match players will think? From the limit to the next day to stop, the next day to start low to 5 points of the horizontal plate finishing time?

  How many can a player with a full position not explode a position and leave?

Think of this, can not help but the creepy, in the heart began to understand how the financing guarantee ratio is going to be reckless and regret unceasingly!

Now Xinhuangyiluan, the only idea is that I want to cut the position, I want to cut the position, since the operation of the big problem, the first to quit, back out after a good look.

But t+1, today is impossible to stop, tomorrow anyway the first time come out again!

Think well these, hurriedly to the Account manager call, the account manager is also very busy, today also did not care to monitor my account, perhaps did not have time to classify my account.

I told him that I had a problem with my account, that I had a full position, and now I lost a point, what should I do?

The client manager listened to my tone and realized that there was a big problem, because the CSRC was rumoured to be checking out a number of illegal securities brokers, and if he was found, he would not have a job.

He quickly monitored my account and told me, "You have to calm down now, fortunately you have a lot of money in your account, you can choose to sell some of the increase in margin ratio, you can also choose a clearance exit."

I said, "You look at the disk surface, obviously up and down, the main washing plate at most wash to 20th line is the limit, the future will certainly be able to rise."

Customer Manager thought for a while, call me back to say: "I agree with your judgment, you choose the stock texture is very good, belong to the mainstream plate, fill up, yesterday only the first trading board, form is also attack form, but since today fell, and the whole plate are down, this fall is the feature of short-term callback, Then tomorrow must be low open and go on washing the dish.

I am busy to say: "Right, we two think together, mainstream funds so big, not a wave on the end, so, it callback to 20 line is the limit, will rise the main wave".

  The account manager said, "Can you add a margin call?"

I said, "How much do I have to add?" I'm only 100,000, and if I call back to the 20th line, I'm still not enough to meet the SFC's 1.3 guarantee ratio. "

The account manager said: "This is very troublesome, the company is now implementing the SFC self-examination documents, it is impossible not to take over your account." So you don't have a chance to wait until the main lift, and when you're full, did you calculate the possible callback points? "

I said: "Yesterday trading sealed so resolutely, today is not high, how can I calculate the callback thing?" I can't even count back the callback, the odds are too low, how can I think about the collateral ratio? I also played for more than 10 years the stock of the old shareholders, this cattle stock form, the probability of a rally is 99%, The chance of a callback is 1%! "

The Customer manager said: "The problem is that the 1% is in your full position, I believe this will be very good, but you control the position of the problem, which is more important than your stock selection 10,000 times times." What does it have to do with you when you're out of a position, 10 times times over?

I was completely desperate.

Yes, select stocks again good, but I play is super full warehouse financing, this and I used to coax the quite confident of the very self-confidence of the selection of the bull stocks skills completely does not support AH, you own funds can laugh at the main callback, can be more than full warehouse will be killed, or, I even know this is the night before the dawn, also must

It was the most painful day of investing in a stock career. I saw right, also did the right, but the position control is wrong, the result I face to explode a position ....


The Account manager text message said: I asked the boss, tomorrow you can operate on their own, but must operate.

Listen to this sentence, in the heart finally have a little comfort, after all, people did not say push margin, more importantly, people also did not say take over account of the matter, still count to me left some face.

I really took over the account and I didn't even have the option to stop. I was asked to find the right time to stop, and I was given the option to chop off part of the position and complete the clearance.

  What else do I have to say?

The day close Green 3 points, the guarantee ratio has reached 1.41, so determined that tomorrow anyway, set a bid to escape, lest the explosion.

The next day open than expected, set auction is a low open 5 points, the whole set bidding is the way down, is my low price open results, the results slightly up a few cents, the stock price a go not back, directly fell to 8 points.

Although the big loss of 33 points, or loss of more than 300,000, but after all, no longer endure the possibility of explosive positions at any time by the securities regulator of the spirit of torture.

But I also want to see if the stock that I have suffered a heavy loss in the end is as I expected the future will be back to the 20th line and then Rose.

The future is true, stock prices in the near 20th after the line, that is, the rise of more than 20 points, one swoop into the pre-high, according to the price I buy, I can profit 8 points, or I can get the principal 24 points.

But now I've lost 33 points.

One out, the principal half of the lost, the original thought has been very self-investment concept has completely changed, every day to endure the torture of this matter.

The two melts are so cruel.

Unfortunately, it is also under the two-melt rule that I should be closed by a securities firm the day before the stock returns to the 20th line.

I think of the original one to do futures friends of a sentence: you do the right direction, but the loss of the market exit.


Financing, especially the full warehouse over-provisioning financing, is very easy to be washed away by the main funds.

The problem is that investors in the market think they are as smart as I am, believing that the main base will not scare themselves, but the main force is more advantageous than ours.

They used to wash the plate is a conspiracy, with a variety of tricks of the line, cheat volume to wash, tossing retail out, but now is the era of two melts, the main force has changed the strategy, is to use an overt one to wash the plate, let you clearly know is the case of washing, will forcibly wash off you, because you can not wait until the main pull up

This year's market and the past is very different, investors generally opened two melt, the main force will not adapt to the new situation, increase the shock and stage washing disk.

Even if it is not over-provisioning financing, the full position financing, but also can not be the main band of the washing disk, unless we have more follow-up funds to the margin.

Two melt, I really see the power of its double-edged sword, but also more understand that the broker to us out of all kinds of business, will not let us better profit, only faster to eliminate their own.

Including the t+0, including options, the elimination of retail means will emerge in an endless way, until the implementation of the national leadership stressed the----the introduction of strategic institutional investors, the national participation in institutional investment----strategic objectives.

(turn) A large confession: I was so blown by two melts

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