Today share a professional trader Huang Guohua’s story, through 18 years of trading career he will have what kind of story?
Here’s a look at what he thinks is the soul of a trader.
I was a trader for 12 years!
If you take into account your personal trading career, you have been working for about 18 years. If you roughly estimate that you have made about one million trades. If you calculate 400-500 trades per day, you will make about 100,000 trades per year.
With a computer pressed to the fade, that’s life.
Once again, I have traded stocks, bonds, coupons, futures, foreign exchange, lending, enterprise lending, large deposits, arbitrage, arbitrage, etc., except for the new accidents that only appeared in the last three years.
I am a trader, whether the head of the clerk or vice president;
No matter sitting in the trading room of the bank, the trading room of the brokerage or the deal center of the coupon company, I will always be the same identity – dealer, I do not like the operator or manager of this kind of name, the former exaggerated the feeling, the latter a little arrogant above.
I once traded 10 different tools, more than 20 different quotes a day, and had 5 different trading and quotation systems in front of me. But what I relied on most was the computer in my head and hand.
Don’t think you have to be a natural math genius. I’ve traded into a $10 billion gap without realizing it, and I’ve left my unliquidated trading room to play mahjong.
I have also experienced the tragedy of facing the bank fund gap alone at 11 am, crying every day not to respond, crying to the ground.
Trading has one purpose: to “make money”.
But often this purpose is often against the financial industry bosses, don’t listen to those financial industry bosses and senior executives every day singing profit profit, but they act and think like a person smoking, drinking, staying up all night, crazy whoring gambling, mouth but say “health is the most important” general.
The means of trading is to Take position, and the process of trading is to look for weak hands. Of course, there are many weak hands in the world of institutional trading, such as backward information transmission and weak intention to make profits (for example, the government-affiliated financial industry, the only principle of their operation is to leave work early without making mistakes). The law of the jungle is particularly obvious in the trading circle.
How do dolphins catch sardines?
The dolphin is a higher predator in the Marine food chain than the shark, like the vulture on land;
In the vast ocean, the sardines started out scattered, with a flock of 100,000 in the east and 300,000 in the north, and the sardines’ migration target — in search of warm currents — was as obvious as the retail target.
Smart dolphin groups are usually a group of hundreds of sardines, a group of sardines will catch up to the dolphins set the warm current sea area, and lure or scare them, in the process of dolphin patience with the greed of eating, even spend 3 days and 3 nights, just to guide all sardines in the whole sea to the battlefield.
Sardines at the moment in the warm current gathered into a “tens of millions of sardines ball”, sardines have a characteristic:
If they live in groups, they will rely on each other in case of danger. Ten groups depend on each other into five groups, and five groups combine into two groups. In the end, they will become the super meat ball of dolphins, the top predator of the ocean, which is comparable to the 16-ounce filet mignon in a western restaurant.
The only reason I gave my boss for not building a single long position in stocks for 13 months was “there are no sardines”;
I also spent a year at a small brokerage building up a bond position of more than three times equity in just one week, during which my boss repeatedly warned me to take profits, with the same reason I gave him: “the sardines haven’t formed yet”.
Trading is lonely, the world is not understood outside, there is a big trader who often plays everyone’s “sardine ball”, was praised by the media all day long, but was killed by foreign investors how many structure bonds, fine!
Whatever!
The boss does not know, the media does not know, the dolphins in the trading circle will always leave quietly after plunder, low-key preparation for winter.
There is also a group of seagulls involved in the dolphin hunt. The seagulls do not have the ability of the dolphins to kill, nor do they have the natural sensitivity of the dolphins to prey, but as soon as the dolphins start to form a hunting force, the biological instinct of the seagulls will follow the dolphins all the way, and when the sardines start to be slaughtered by the dolphins, they will try to jump out of the water in a panic to escape.
The seagulls hold the line in the sky, pillaging them one by one.
You know what I’m talking about!
The soul of the trader is like the biological instinct of the seagulls. The seagulls who do not have to be in groups, do not have to act in groups, and can follow the dolphins in the sky at high speed and non-stop flying become predatory winners.
In the same way, traders compete for endurance, rather than profit through a group vote;
There is no need to join the hunting team of the big dolphin players, because a seagull does not have to catch too many sardines, but eat too much will die.
Kuo Kung-ke found this interesting statement in his article: “The cheetah is a speed killer in the wilderness, but its disadvantage is that it is not a durable long-distance racer.
When they run fast for long periods of time, their brain temperatures soar at the same time, so each kill is a life-or-death gamble.
So intelligent cheetahs prefer to wait for a chance, wait for the prey to come within a safe distance, and then make a surprise killing to improve their chances of success and save themselves from sudden death.”
In fact, I don’t know which one is the dolphin, which is the cheetah, which is the seagull. But these sharp traders will never tell you the bullshit theory of “beating the market”, let alone the words “systemic risk”. Risk is risk, and a loss is a loss.
Fund managers can beat the market by Shouting with the media, but traders are different, traders do not rely on the profit of the bonus day, or put out their own money to fight the market, losses are not disputable and there is no excuse.
Private equity is a kind of dolphin-level super-trader. To quote Richard Chang, the founder of Taiwan Semiconductor, it is like “pulling a person from the cold outside into a warm house and then throwing the person out into the cold”.
When a private equity fund buys a company and rebuilds it, it removes a lot of the long-term pressure of having to respond to the market or shareholders’ questions every quarter, but ultimately the private equity fund is just looking to make a profit, which is not very fair or advantageous to the company being bought.
There is no doubt that the soul of private equity is “plunder”;
Carlyle Group, a world-class private equity fund, announced in 2006 that it would take over ASE. Six months later, ASE broke the deal and broke the deal. This was just a tacit agreement between dolphins — the price was not agreed upon.
Because the essence of a trader is to be honest about his or her position and profit and loss, anyway, on tens of thousands of trades a year, no one can win more than 80%, except those who are teachers and performers on business stations;
When I was a trader, I made hundreds of trade decisions a day, and I didn’t and couldn’t afford the luxury of meaningless adulation or time-wasting self-reproach, let alone remembering the bid and sell prices of every trade I had closed.
That is to say, with the characteristics of a trader, he sold HTC for 500 yuan yesterday, and bought it back with 600 yuan as usual when it is profitable today, because 500 and 600 are meaningless to traders, and what is meaningful is a matter of direction. Traders are heartless and will not forget about the market and the target that once made him profit.
During the SARS in 2003, I left the market completely after my last bond trade, because I knew that after 10 years of long position, whether I could re-enter the market as a trader when the next long position came was completely dependent on my life expectancy. Even though the market had provided me with a family, I still left ruthlessly, unwilling to take a little miss.
Nor should traders place undue trust in others. It is better to doubt everything they read and hear, even what they learn and the positions they take.
If a seagull falls into the sea while following a dolphin in pursuit of prey, it becomes an appetizer before the dolphin’s feast.
When sardines jump out of the water, your companions are your own worst enemies, because other gulls may eat all the sardines.
The corporation’s Lee Kun-Yao and Power Corporation’s Huang Chun-ren are also typical examples of predatory traders. The successful protection of one’s positions against loss is a natural biological instinct. Loss afflicts the corporation far more than morality and the law.
This is something that only a capitalist who plays his cards right can have.
Traders don’t have business cards either. I’ve gone four years without one.
For example, you may have been a vice president at Merrill Lynch or chief financial officer at United Electric, but this kind of elevation is actually very heavy, because once you leave the calling card, the job and the aura that you depend on, the sense of loss and “from
