So essentially, futures are actually buying and selling not specific commodities, but contracts. That is, if you buy this contract, you have to follow the contract at that time.
Of course, smart people soon discovered that there is another very important mystery here.
Although you have bought a contract, you can submit it according to this contract, but there is a great danger in this, that is, you may see it wrong.
For example, wheat is now 400 yuan. If you sign a contract that you bought for 420 yuan in three months, you think it will definitely increase at that time.
But if wheat falls by more than 300 yuan and you still execute this contract at that time, wouldn’t it be a waste of money?
But is it okay not to execute it? I'm afraid that it's not possible. Since Duan Ye took office, he has convened businessmen to meet many times, but he has not asked for a showdown. But it is very important to emphasize to them that the most important thing in doing business is integrity and respect for the contract.
As long as the spirit is agreed to someone else's affairs and sign a contract, it must be executed. Even if it is a sea of swords and fire, Duan Ye also said that if you do not respect the spirit of the contract, then don't blame Lord Duan for turning against you!
Of course everyone listened to this. Lord Duan spoke in a word. Everyone knew this. Moreover, it was nothing to do business. No one would violate it unless it was absolutely necessary.
In this situation above, soon, a smart person came up with a solution. Wouldn’t it be over to buy two contracts with the opposite direction?
For example, if you are still the wheat, you can now sell a 420 contract. In this way, no matter whether the price rises or falls, there will always be a contract that makes money. You can use the money to make up for the money, so the commodity
Price risks are easily avoided. Whether it is profit or loss, in general, you only need to pay a very small price, that is, the transaction fee.
Many smart businessmen have seen this, but they don’t know that they have accidentally figured out an important concept of the financial market - hedging!
In a sense, hedging is the real reason for the emergence of the real financial market in later generations, but Duan Ye did the opposite this time, first establishing a market, and then introducing these things.
Of course, once the financial market is born, there will definitely be subsequent derivatives and other products. However, Duanye does not intend to force it. After all, excessive advance development is actually not good. Besides, Duanye develops.
The financial market is not only for promoting integration, but also for other purposes.
Another important measure is that Duan Ye issued an emergency notice after the closing of the market. From the next day, it is stipulated that all trading products, except for the first day, will not exceed five points in the subsequent trading days except for the price listing.
That is five percent
This is naturally a simulation of the daily limit of the rise and fall of later generations. In fact, since there is no leverage opening yet, it is reasonable to set such a low daily limit. However, Duan Ye has considered it again and again and decided that it would be better to be more conservative at the beginning. After all, this financial market is still
I have not experienced the test of strong winds and strong langs, and I am not sure how much I accept it in the world. In order to protect it, I would rather go slower, but I should also be more stable
Sure enough, the next morning, with the sound of the gong, the combination of Mu Zhao and Chen Wanshui directly quoted the daily limit price and continued to buy wheat, and how much it was! But this time, no one sold it to them.
Because everyone knows that Henan has suffered a disaster, and it is certain that the price of wheat has increased. Just 5% of it, do you want to take away the goods in our hands? Are you sending beggars?!
As expected, the next day and the third day, the daily limit continued to rise. At the same time, rice began to be launched on the market starting this day, but since no one could buy wheat, the price of rice was expected to be significantly higher.
So, after a brief battle between the two sides, the price of rice was hit to the daily limit and closed at 420 yuan per stone.
After the market closed, Chen Wanshui walked into the inner room of Sihai Money House with his hands behind his back. Cai Hao was shirtless and holding a teapot.
"Master, are you back?" Cai Hao put down the teapot and shouted: "Master, it's so good today! This rice was also hit by us. Hehehe, we made at least six cents today!"
"I'm very happy?" Chen Wanshui's face looked calmer, but
"That's right!" Cai Hao wiped the sweat from his forehead, "Master, I see that the governor is right. This trading market is really like leading troops to fight. Master, look, today with the third son of the Li family,
Isn't it just a war? This guy thought we couldn't see it? He actually wanted to attract goods at the lowest price and make a big profit. The wheat has risen so much, so how can rice not rise? He tried hard to sell it just to lower the price
, Hehehe, he didn't expect that we would still have so much money, which made him lose a lot of goods in vain, hahahaha!"
It turned out that when the rice price opened today, many people were surprised because the market price of rice was actually rising, but at the beginning, some people were selling it crazy, which made many people think that it might be wrong, and joined the seller.
Row
But the problem is that in this era, exchanges are clamoring for price transactions, and merchants need to go to the scene in person. In this case, everyone will know who is selling.
The Li family is a big grain merchant. Their family has been purchasing a large amount of goods from other places recently. Everyone knows that the rise in rice prices actually has something to do with them, but the Li family members actually sold on this exchange.
Obviously not right
They are not stupid people, of course they guessed the reason quickly. When the Li family sold it, it seemed to be very aggressive, but compared to their stockpiling, it was just a small amount. He just wanted to use the crazy sale to sell it.
Some people with unstable wills were scared away, and they only bought the price with money.
In the words of later generations, this is called short-term
Cai Hao, who first saw it, immediately took out the money and purchased a large amount of goods before the Li family started to replenish it. He quickly bought all the rice sold by the Li family and the following trend, and did not correct the mistakes at all.
Opportunity, price hits the limit
Now, the third son of the Li family was stunned!
He came to the scene on the first day, but he never dared to do it because he didn't have much wheat in the Li family, and Mr. Li was very cautious and didn't understand what was going on in this market, so he didn't let Li San take the risk.
However, the thrilling and magnificent days of the first few days were told to Mr. Li San when he went back to add fuel to the fire. Mr. Li saw that his son patted his chest and guaranteed that there was no problem. He also heard that the price only rose but not fell. If he smashed it first, he would buy it back.
, it sounds flawless, so I agreed
After all, he is the youngest son, and the old father always feels a little bit more affection, and it is also an opportunity to cultivate and practice.
But unexpectedly, this move was discovered by someone. Not only did he not make any money, he also sold the lowest price of thousands of stones of wheat he applied for from his family. After he went back, the old man still cut himself with a knife?
I was angry and wanted to settle the score with Chen Wanshui, but as soon as I left the private room, a young man in a uniform on the exchange stopped Li San, bowed first, and said, "The third son, Tan Song, the finance and taxation department of the governor's office,"
"Oh, Tan...Mr. Tan"
Originally, Li San wanted to send a slap, but suddenly he remembered that after all, he was a businessman, and he was a businessman, and his status was incomparable. However, this kid was even younger than him and had no beard. And after all, he was not an official, so he really shouted to the master.
If you don't come out, you will barely call me sir
Tan Song was not angry and said lightly: "Three Master, I am telling you that Lord Jun has said a long time ago that trading is trading, you can't go back on your word, you must admit your profits and losses. So, at this time,
It's not convenient to find Mr. Chen."
"This..." Li San was about to curse, but saw several men in uniform coming over at the same time. Only then did he remember that Duan Ye was really unable to mess with. If he compensated, he would have to pay.
Later, Li San had to go back in disappointment, but he was not stupid either. He immediately tried his best to grab the goods when the rice began to rise, and at least he grabbed some. He changed from selling to buying, although some people laughed at him as taking off his pants and farting - this is a waste of time
, but after all, it completely aroused the enthusiasm of the market. Everyone rushed forward and finally hit the price to the limit.
In short, Li San still made a profit, but this made people very unhappy, because they could have made more money, but because they were smart, they made wedding clothes for others. This is even more uncomfortable than losing money.
Chen Wanshui and Muzhao, they made a lot of money because they were sucking goods at the lowest point, and finally reached the daily limit, with a difference of only six or seven points in the middle.
Chen Wanshui looked at Cai Hao with a proud look and said, "How much do you think you've made money today?"
"It's so much! Six cents a day, not so much."
"Hehehe" Chen Wanshui smiled, "You think about it, what will happen to the price of this rice today and tomorrow?"
"Uh, of course, it will still hit the daily limit. The rice is less than 450, I can't hold it."
"That's right," Chen Wanshui nodded, "If you think about it again, you will think that it's not OK to be less than 450. What about others? Do they think so too? If that happens, will there be someone selling it? Even if you raise the price,
If someone doesn’t sell it, how much goods can you have on your hands?”
"Then..." Cai Hao fell into trouble. He obviously didn't think of this before.
Chen Wanshui shrugged and said, "What are you waiting for? The news spreads all over the world. How many days will we hurry up and go to other places to grab food!"
"Oh! Why didn't I expect it?" Cai Hao slapped his head, and then he realized that although the master had not spoken much, his understanding and acceptance of this new market was better than himself! After all, Jiang was still old.
hot"
"Mr. Duan has done such a big thing. Haha, the world is affected by him. Let's see, this matter is not over. Let's re-evaluate Mr. Duan."