Chapter 17 has too few transactions!
The morning air was slightly cool, and there weren't many people in the office yet.
"Hey, Su Hao. You're here?"
A voice rang out, filled with deliberately exaggerated enthusiasm; it was Liang Haiyuan.
That face, which usually carried a hint of aloofness and impatience, was now forced into a wide smile, and the fine lines on its forehead seemed to gather happily.
Su Hao's heart skipped a beat almost imperceptibly, and a strange, indescribable feeling arose within him.
What's wrong with this person?
It should be noted that not long ago, Liang Haiyuan would often glare at him or Li Huilin with a harsh tone early in the morning.
This sudden, almost ear-length, radiant smile today... is truly bizarre.
Could it be... that he struck it rich on some stock yesterday? Is that why he's in such a good mood? He wondered to himself.
"Yeah, I'm used to arriving early." Su Hao nodded slightly, responding succinctly, not wanting to dwell on it any longer.
"Hehe, you've only been a full-time employee for a short time, and you've already developed this habit? You're really a down-to-earth and hardworking young man."
Liang Haiyuan began his rainbow-colored flattery performance:
"Hmm? By the way, I heard that your return rate yesterday was the highest among all departments? Thanks to you, our department feels much more confident now, and it feels really reassuring."
"..." Su Hao remained silent, not responding.
From that overly eager gaze to that slightly exaggerated body language, everything made him feel a heavy sense of unease.
He nodded hastily and practically fled back to his workstation.
'I just... can't get used to it.'
He murmured to himself, his gaze falling on the newly renovated workbench.
His place used to be just a narrow corner, with a monitor standing alone on the desk. It was shabby.
Now, six brand-new LCD screens are arranged in a fan shape, gleaming with a cool luster.
The area is also equipped with a multi-functional keyboard and other professional-looking equipment, making the whole area both efficient and technologically advanced.
As the saying goes, it's like going from a slingshot to a cannon.
Indeed, compared to the messy, doghouse-like workstations of other traders around him, his place was undoubtedly the cleanest and most advanced.
The fingertips glide across the cool metal casing, bringing a strange sense of unfamiliarity.
'But... there doesn't seem to be anything else to do before the market opens.'
In the past, he was always busy following behind Li Huilin, printing and distributing materials, and preparing for meetings meticulously.
Those days seem like they happened just yesterday, yet they have truly come to an end.
Because the two newly assigned assistants in the team have taken over these miscellaneous tasks that used to belong to him.
"Hey, Hao-ge. This is the data that the research department just released today."
A slightly hesitant voice rang out, and one of the young assistants respectfully handed over a stack of documents.
"Ah, okay. Thank you." Su Hao took it and thanked him.
Once upon a time, he was the one who "distributed" information everywhere.
Now, his role has reversed, and he is the one receiving the data.
Although information can be accessed via computer, printed copies are still essential for meetings.
On days with a lot of documents, he used to spend almost the entire day by the buzzing photocopier, inhaling the pungent smell of toner.
'These two assistants... in terms of seniority, they've probably been with me longer.'
A pang of guilt swept through him.
But then I remembered that in financial companies, especially private equity firms, performance always speaks for itself, and seniority is secondary.
I heard there are monthly performance reviews here, and if you don't meet a certain minimum requirement, your contract will be automatically terminated. No mercy shown.
It's a really... cruel place.
The person who was chatting and laughing with you yesterday may disappear from this office completely the day after an assessment, as if they never existed.
An invisible pressure seemed to permeate the air, making everyone's nerves tense.
" Su Hao, you're here very early indeed."
Just then, another familiar voice came. It was Li Huilin.
"Ah, yes. Sister Huilin, you've arrived too? But... your complexion..."
Su Hao noticed the two clearly visible bluish-black shadows under her eyes, like marks of fatigue, making her look haggard.
"Ugh, don't even mention it. I was so worried last night that I didn't sleep a wink. I'm a full-fledged trader now, and my performance has officially started to be evaluated."
Li Huilin forced a bitter smile, her voice filled with deep weariness:
"I'm really afraid that if the performance keeps going negative like this, I'll be fired one day... How can I not worry about that?"
I see.
This is the root cause of why traders are so easily frightened and irritable.
The pressure to survive is very real.
"But thankfully, Su Hao, you made a fortune yesterday. I heard that while individual performance is important, good team performance can also earn you a lot of points. You're practically our team's savior!"
"This is only the first day," Su Hao replied calmly, without becoming complacent.
"Ah! By the way," Li Huilin seemed to remember something and asked curiously, " Su Hao, how many times do you usually trade a day?"
Yesterday... he recalled.
No more, no less, exactly three times.
Because only three buy orders were executed.
Wait, so... he hasn't sold it yet?
If I want to sell after the market opens today, the price... shouldn't drop, right?
His heart sank slightly.
"Yesterday… I made 150 trades." Li Huilin rubbed her slightly sore wrists.
"My fingers were almost broken from typing, and my eyes were sore. There was also a time when I lost money because of a setting error."
"…150 times?" Su Hao was slightly surprised.
"150 times? That's a low number, at most below average. Senior traders usually make hundreds of trades a day."
Li Huilin laughed self-deprecatingly:
"So you see, everyone is so busy after the market closes at noon that they don't even have time for lunch. They all have to set up their trading plans according to the pre-determined strategy before the market opens in the afternoon."
Su Hao knew that traders had high trading volumes, but he didn't expect it to be on average several hundred times per trade. This was the first time he had ever heard of such a thing.
"Therefore, when buying and selling highly liquid stocks, you must set up risk management in advance."
Li Huilin continued to share her experience:
"For example, when buying a stock, a certain percentage of the funds can be used to trade over-the-counter options, short related futures products, buy inverse ETFs, etc., to hedge risks in a systematic way."
I see!
Su Hao suddenly realized.
No wonder that after each meeting, those traders would rush back to their computers like arrows released from a bow, typing away furiously.
He was puzzled; the market hadn't even opened yet, so why were they all in such a hurry?
It turns out that they were setting buy-sell ratios and deploying transactions based on the latest investment strategy.
"Could it be... Su Hao, you didn't do it this way yesterday?" Li Huilin looked at him, her eyes filled with inquiry.
"I…only traded three times yesterday," Su Hao answered truthfully.
"What?! Only three times?! You... you're not doing short-term trading, are you? No wonder, I had a feeling back when we were in simulated investing... Su Hao, your style is swing trading!"
Li Huilin's eyes widened slightly:
"Your heart is incredibly strong, practically made of steel! How can you hold on and not sell? The stock price chart must have been fluctuating wildly, not a steady upward trend, right?"
Traders' styles can be broadly categorized into four types.
First, there's high-frequency trading, which involves tens of thousands of transactions a day. However, that relies almost entirely on automated program execution, so we can leave that aside for now.
Secondly, most people here engage in short-term trading, pursuing quick intraday buying and selling for profit.
Furthermore, there is value investing, which requires patience to hold for months or even years, focusing on long-term trends.
The last type is swing trading, which involves very few trades per day, usually less than 10.
'Speaking of which, I actually think…' Su Hao silently retorted in his mind, 'Those who do short-term trading really need a heart of steel.'
Although there is a risk management system to monitor it, just thinking about the continuous, high-intensity buying and selling makes my eyes feel like they're going to explode.
Moreover, it remains to be seen whether his "intuition" is still effective in such ultra-short-term trading.
After all, his experience is that when a certain "feeling" comes, you should buy immediately, and that's fine.
But when should you sell? That clear "sell instinct" seems to have never appeared.
'Perhaps...it's just because I've never tried short-term trading that I think this way.'
He has always acted on instinct: "mindlessly" pressing the buy button, and then it's over.
From this perspective, compared to short-term trading which requires precise timing of buy and sell points, the holding and waiting model of swing trading may indeed be more suitable for him and more "stable".
"There are no special meetings scheduled for today. Everyone, please review your research materials and develop strategies."
After saying this, Zhou Yi turned and walked into his office, leaving behind a moment of silence.
Oh no. There's no meeting today?
Su Hao frowned slightly.
What he needs most right now is information, data!
Compared to tediously studying research reports, listening to team members discuss and exchange ideas is much easier and more effective for him to understand.
So, it seems there's only one person left to turn to for help.
"Um… Sister Huilin?" He hesitated, then turned to Li Huilin.
"Hmm? What's wrong, Su Hao?" Li Huilin looked up.
There are no meetings today.
"Oh, that's what the manager usually does when he predicts that the market will likely decline today."
Li Huilin nodded knowingly:
"It means we are left to decide for ourselves whether to short sell to profit from the decline, or simply stay put and wait and see. They've delegated the decision-making power to us."
So that's the reason.
"Then… shall we discuss this ourselves, using the research materials?" Su Hao tentatively suggested.
"Huh? Could it be... Su Hao, you..."
Upon hearing this, Li Huilin's face instantly showed an expression that was a mixture of surprise and emotion.
"Are you... worried about me? Afraid that my returns won't go up? So... you want to help me?"
"..."
Su Hao fell silent again.